Tuesday, March 08, 2011

Motorsports, Bankruptcy, and Odds

Well, its almost Mid-March. I again am not working the Philadelphia Flower Show. I guess the owners family had enough kids and Grandkids so they do not need outsiders helping out. Oh well, it was a good 9 year run that's for sure.
In Millville local news, the NJ Motorsports Park has filed Chapter 11 bankruptcy. As the Daily Journal reports in today's paper,this will not lead to a loss of jobs for the park. As NJMP General Manager Brad Scott states in the article:
“We wish to emphasize that none of these changes will affect our scheduled 2011 racing and so-cial events, Drivers Club Memberships, season passes, pre-event ticket sales, gift certificates, deposits or any other NJMP operation,”
City Officals stressed that NJMP has paid all obligations to the city and that the city would protect itself. As Vice-Mayor Derella stated
As a city, we must reserve all rights and explore all options under state law as to what our actions will be in coming days," Derella said afterward. "We are also especially concerned about all the unsecured creditors that have provided products as well as services and have not been paid by NJMP. The city hopes that NJMP is successful in their reorganization, because we still believe that the project is the future of not just the city but the entire region."
Of course we can not leave out TrackRacket and Michelle Post who responded to accusations that they are "reveling" over the financial problems of the the NJ Motorsports Track.
Here is my comment on the previous article that the DJ quoted me. It was in response to someone accusing us of reveling over this news.


"Why would TrackRacket be happy that the NJMP is in effect thumbing their noses at the business community that from the beginning invested their heart, soul and hard earned money into what they believed was an entity that would turn this town around? They were hoping for success with a payout down the road as all good business people do, and now they are the ones left hanging. If the track is successful in restructuring their debt, these local businesses will receive pennies on the dollars owed to them if they receive anything at all.


Hardly the way to be a good neighbor to the business community.


I am saddened that the track owners would treat their biggest and most vocal fans this way. In my opinion, this is downright despicable."
So I see she is concerned about the companies that did business for the track, but at the same time has an ongoing lawsuit. TrackRacket has hired an expensive Philly lawyer. I am sure this lawsuit did not help the bottom line for the track.
We will see what shakes out.
How Hollywood Promotes a Show
I applied for another part-time job at a tax place. I may work on Saturdays. I did go to Carls Corner and filled out the easy application. I suppose after work I will go take Pat to Home Depot. Well, my dog June is quite the watchdog. Maybe I will use  this video for my future company. Kinda like the MGM lion but funkier :)
                                                        What a cute Smunk!!!!!!!!!!!!!



4 comments:

Anonymous said...

Michelle also stated,"We deal only with noise issues. All we have only wanted them to do was to get the noise under control so they can do their thing under the guidelines of how they presented it to us. We have never stated that we want the track to close. I have said this at Commissioner's Meetings and have been quoted in the paper saying so. What you want to read into our lawyer's statement is your interpretation. But wishing the track would pack their bags and go away is akin to wishing that all politicians be honest. Something that would be nice, but would not, in reality, happen.

And, our bumper sticker is correct- Racetracks and Neighborhoods Don't Mix" without proper noise abatement. Just ask any other town that is suffering under the same circumstances. All we have ever asked for is proper noise abatement. A REAL noise fix!"

It really would be nice if ALL the facts and postings were printed Mark, not just the sections you choose. I also appreciate Andrew responding to you Levoy blog. It's nice to have ALL the facts!

Unknown said...

lmao Guard ur ankles!

Unknown said...

I would agree that the noise issues is separate from the money problems the track has had. What still irks me is when there have to be lawsuits that drag on. The only winners are the lawyers. I am pretty sure that the cost of the lawsuits does not benefit the track. I am pretty sure that the lawsuits against the city is not a good use of taxpayers dollars. If the noise problem was simple, I would think it would have not required a bunch of lawyers to get involved

Anonymous said...

I agree the cost of the lawsuit does not benefit the track but I also think you and both know that the lawsuit is NOT the reason for the tracks demise. There's much more going on.