What Happens Next?

It seems that Mark Cippolini shares our frustration over the state of Champ Car. Here are some excerpts of what he posted today about Robin Miller's story about the upcoing JDS Uniphase Class Action trial:

"Miller keeps the pressure on Champ Car
Since losing his Champ Car hard card, Robin Miller has kept the pressure on Champ Car, unearthing or highlighting one weakness after another. In his latest SPEEDTV.com article, brings into doubt Champ Car's future by highlighting Kevin Kalkhoven's upcoming JDS Uniphase trial.

The lawsuit claims that JDS and four of its senior officers, Jozef Straus, Anthony R. Muller, Charles J. Abbe and Kalkhoven, misled investors about the value of their business, and that the individual defendants sold their shares at artificially inflated prices.

While we don't expect that Kalkhoven will be found guilty in the trial, it does nevertheless throw doubt into the future of Champ Car, which sends potential sponsors scurrying for the doors. It's no mere coincidence that Champ Car's three staunchest media supporters, Miller, Gordon Kirby and most recently David Phillips, have turned to pointing out all of Champ Car's weaknesses meaning that Champ Car goes into yet another off-season with many doubts surrounding its future."

Mark also had this up about the 2008 Champ Car schedule in the implications of it being delayed:

"Champ Car schedule delayed
We hear that Champ Car originally planned to release their 2008 schedule by mid-October but now we hear the earliest it is likely to come out is mid-November as it tries to finalize a much more international schedule. Meanwhile all other major race series have already released their 2008 schedule and locked up their TV inventory."

My sense is that he is wondering "what happens next?" just like the rest of us who follow this thread.

Is this JDSU lawsuit coming is the same as the one in 2001-02 or is this another one?



Nevermind, guys.

Here: http://www.jdsclassaction.com/

Mislead? Sounds like a familiar work to most in here.

The JDSU lawsuit has been on the forums for a couple years now, with links to Stanford's law website and others. Miller didn't say anything new. It's merely eight days from the trial, so he reported what was going on. I surmise that he got most of what he wrote from the law firms' websites that have summarized the case from their view.

Miller isn't the one defending a lawsuit. Miller isn't the one who has delayed the schedule from mid-October to mid-November (anyone surprised?). Miller isn't the head of a sports entertainment company who won't be at the company's biggest event in his own country.

I now hear rumblings from multiple sources that Champ Car may be in a dispute with the promoter for Assen and Zolder which may have fractured or even ended the relationship. Unfreakinbelievable if this is indeed true. If so, it would help explain The Kevster's personal presence in Dubai (as reported by Mark Cippolini today) and Europe this week to try and nail down some sanction fee paying promoters to keep the Champ Car alive in 2008.

The truth is that this whole last minute dash for cash smacks of scrambling desperation. I cannot imagine that Mr. Kalkhoven is having much fun this month with all the fires that are raging in his house. I will give him credit, however, for at least (belatedly) focusing his considerable charm and intellect on doing what it takes to save the series before he faces what must be his most daunting personal challenge in a courthouse in Oakland, California one week from now.

Is any other major racing series in the same situation? Are they still trying to find two (or perhaps more?) new events and promoters to fill out their schedule in mid-freakin-October?

This is really beginning to look like The Amigo’s equivalent of a "Hail Mary Pass” while five points behind and with one second left on the clock in the fourth quarter in the last game of the season (before the Quarterback goes on trial!).

What kind of disjointed, incomprehensible and wandering series are we going to see when the 2008 schedule is finally announced a month (or more) from now? More to the point: Just who is this series for anymore? It does not look like it is for the fans in the USA or North America any longer. It seems the Amigos are now going after the huge untapped Champ Car fan bases in Dubai and Greece. I can only imagine how hungry they all are for a taste of the rich traditions of the American National Championship which date back to 1909.

There is a saying that comes to mind when considering all that has happened recently to our once great sport:

“If You Don't Stand for Something - You'll Fall For Anything”

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Originally Posted by ChaimWitz

I now hear rumblings from multiple sources that Champ Car may be in a dispute with the promoter for Assen and Zolder which may have fractured or even ended the relationship. Unfreakinbelievable if this is indeed true. If so, it would help explain The Kevster's personal presence in Dubai (as reported by Mark Cippolini today) and Europe this week to try and nail down some sanction fee paying promoters to keep the Champ Car alive in 2008.

The truth is that this whole last minute dash for cash smacks of scrambling desperation. I cannot imagine that Mr. Kalkhoven is having much fun this month with all the fires that are raging in his house. I will give him credit, however, for at least (belatedly) focusing his considerable charm and intellect on doing what it takes to save the series before he faces what must be his most daunting personal challenge in a courthouse in Oakland, California one week from now.

Is any other major racing series in the same situation? Are they still trying to find two (or perhaps more?) new events and promoters to fill out their schedule in mid-freakin-October?

This is really beginning to look like The Amigo’s equivalent of a "Hail Mary Pass” while five points behind and with one second left on the clock in the fourth quarter in the last game of the season (before the Quarterback goes on trial!).

What kind of disjointed, incomprehensible and wandering series are we going to see when the 2008 schedule is finally announced a month (or more) from now? More to the point: Just who is this series for anymore? It does not look like it is for the fans in the USA or North America any longer. It seems the Amigos are now going after the huge untapped Champ Car fan bases in Dubai and Greece. I can only imagine how hungry they all are for a taste of the rich traditions of the American National Championship which date back to 1909.

There is a saying that comes to mind when considering all that has happened recently to our once great sport:

“If You Don't Stand for Something - You'll Fall For Anything”

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On the money and I would just add the question, what can PN possibly be thinking with all this going on right now? He is as prideful as anyone I know, but with this mickey mouse mess all in his face, how hard do you think it will be for him to simply retire after the season on a high note and go hang with the wife or his beloved Lime Rock?

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Originally Posted by indycool

The JDSU lawsuit has been on the forums for a couple years now, with links to Stanford's law website and others. Miller didn't say anything new. It's merely eight days from the trial, so he reported what was going on. I surmise that he got most of what he wrote from the law firms' websites that have summarized the case from their view.

Miller isn't the one defending a lawsuit. Miller isn't the one who has delayed the schedule from mid-October to mid-November (anyone surprised?). Miller isn't the head of a sports entertainment company who won't be at the company's biggest event in his own country.

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First of all, KK does not need to be there and most likely will stay away from the trial until absolutely needed to testify (if at all) and let his laywers handle it. Also, KK and others will have ultimately had D&O insurance that would cover them in terms of this suit personally. While a pain in the backside, likely not to be a pain in KK's personal wallet.

With every small bit of news or rumor that has come out over the last 10 days, I think about the fat lady every time I post. I have NEVER posted that I thought CC was done, at any forum. But I think the fat lady is dressed up and may be ready to spray that stuff in her throat.

EDIT: Mike, some of those defense insurance policies have closing dates on 'em. SInce KK resigned from the company, he may have been protected until "X" date. Who knows?

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Originally Posted by mikeearle

First of all, KK does not need to be there and most likely will stay away from the trial until absolutely needed to testify (if at all) and let his laywers handle it. Also, KK and others will have ultimately had D&O insurance that would cover them in terms of this suit personally. While a pain in the backside, likely not to be a pain in KK's personal wallet.

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Mike, even if that is indeed true, what does it do to KK's credibility and personal good faith if he is found to be liable in this suit? What will this say to potential sponsors and promoters if it is determined that KK lied about the true worth of JDSU and, as a result, much of the value of the company was lost? What impact may it already be having?

Does that not have a bering to today's CCWS? Will sponsors not then apply what is past to what is current with KK's immediate ventures?

IMO. money is the least of the potential liabilities from this suit if KK ends up on the wrong side of this judgment.

Quote:

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Originally Posted by mikeearle

First of all, KK does not need to be there and most likely will stay away from the trial until absolutely needed to testify (if at all) and let his laywers handle it. Also, KK and others will have ultimately had D&O insurance that would cover them in terms of this suit personally. While a pain in the backside, likely not to be a pain in KK's personal wallet.

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I agree, it will not affect CC. The fact RM is now reporting on this is proof that he is hurting from his fallout from CC.His reports will always be tainted with bias. Dancing drivers and class-action lawsuits, when will he talk about racing again?

I'm sure that Bernard Ebbers (WorldCom) and Ken Lay (Enron) thought they might have been protected by D&O coverage too. D&O coverage does NOT cover the directors and officers for any illegal and/or fraudulent acts. And we know what happened to them. This IS a big deal, particularly in today's climate. This suit is about hundreds of millions of dollars. Not pocket change by any means.