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3 Jul 2002, 18:36 (Ref:326656)
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#1 | ||
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Racer
Join Date: Apr 2001
Posts: 372
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Elan stock tanks
It is a good thing that Panoz sold his Elan stock as it has taken a fall of Worldcom proportions. Some of the same issues are the reason why it is in the tank.
He has sold it hasn't he? I would hate to think Uncle Don has borrowed money for the ALMS on his Elan holdings. I sure hope that Panoz doesn't find himself before Congress explaining things that happened during his tenure at the company he founded. Given the solid track record the ALMS has I can't believe that Elan engaged in any "smoke and mirrors" activity while Don was still involved in the company. KM |
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3 Jul 2002, 19:23 (Ref:326678)
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#2 | ||
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Veteran
Join Date: May 2002
Posts: 5,147
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?????
Your sarcasm is pretty thick there, Max - but you're the insider. Can you lay it out for me? I like Dr Panoz for what he's done to Mosport, and am an ALMS fan largely because I get to see them at Mosport. But I know nothing about the business side of the series... |
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__________________
... Since all men live in darkness, who believes something is not a test of whether it is true or false. I have spent years trying to get people to ask simple questions: What is the evidence, and what does it mean? -Bill James
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3 Jul 2002, 19:35 (Ref:326685)
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#3 | ||
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Racer
Join Date: Apr 2001
Posts: 372
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I don't know anymore than what I see on CNBC. I doubt (or at least hope) that Panoz and the ALMS is not affected.
KM |
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3 Jul 2002, 19:48 (Ref:326687)
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#4 | ||
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Veteran
Join Date: May 2002
Posts: 5,147
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From what I see at Yahoo, Dr Don isn't listed in the "insider trades" for the last two years. I guess that only applies to the officers of the company, of which he is not one, is he? I have no idea how you might find out who holds what stock, other than Yahoo's list of institutional and mutual fund holders.
They've been getting hammered for about 6 months, now. When you first posted, I thought "wait, isn't Elan the company that made that wobbly motor for the LMP-07?" 
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__________________
... Since all men live in darkness, who believes something is not a test of whether it is true or false. I have spent years trying to get people to ask simple questions: What is the evidence, and what does it mean? -Bill James
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4 Jul 2002, 13:00 (Ref:327038)
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#5 | ||
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Veteran
Join Date: Feb 1999
Posts: 12,451
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If that's what the Elan is, then they deserve to tank. However, you notice the Mugen engine has not made that car any better!
 Having lived for a long time now and seen numerous stock market crashes, I am phlegmatic about this one too and anticipate that Dr. Don will come out of it smelling much better than Toronto smells just now! |
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__________________
"If we won all the time, we'd be as unpopular as Ferrari, and we want to avoid that. We enjoy being a team that everybody likes." Flavio Briatore
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4 Jul 2002, 14:02 (Ref:327070)
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#6 | ||
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Veteran
Join Date: Dec 2001
Posts: 2,133
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If Dr Don has sold his shares, then he did so at the height of the market, he is know sitting in his office thinking about buying them back. Sell-high buy-low.
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__________________
Some people will tell you that slow is good - and it may be, on some days - but I am here to tell you that fast is better. H S Thompson 1937 - 2005
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