Abandon Ship!!

BobbyFord

BobbyFord

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Teresa Earnhardt Looking to sell DEI? Sirius NASCAR Radio's Sirius Speedway is reporting today that Teresa Earnhardt has enlisted the services of Bear, Stearns and Company to find a buyer -- or at least a major financial investor -- for Dale Earnhardt, Inc. Bear Stearns is an investment bank, securities trading and brokerage firm based in New York City, and has been charged with finding a buyer for the entire operation. Barring that, Earnhardt is said to be interested in selling at least a minority interest in the team. DEI President of Global Operations Max Siegel declined to comment on the story when contacted earlier today.(Sirius NASCAR Radio's Sirius Speedway)(7-7-2008)
 
If true, I find it rather sad. Not so much for Teresa, but for Kerry, Kelley, Dale, and Taylor.

As for Dale buying into DEI as a partner, I highly doubt it.
 
TexasRaceLady said:
If true, I find it rather sad. Not so much for Teresa, but for Kerry, Kelley, Dale, and Taylor.

As for Dale buying into DEI as a partner, I highly doubt it.
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I highly agree.. i will never feel sorry for Teresa but i do feel bad for the kids and the legacy that goes with it. I doubt if Dale will join in.. too little too late.. but it would be really great if he did and kicked her butt to the curb!!!
 
Thats sad. She killed DEI all by herself. If she would have given Jr. what he wanted and what DEI needed, DEI might not be in this boat.
 
wilson89 said:
i wonder what dale would of thought of his wife running his bussiness into the ground.
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Actually, she is the one who built it in the first place, though you probably don't believe that. This woman is a very shrewd businesswoman but when her husband died and then her step-son didn't want to play along, the fans went with him and blamed her.
 
Dale would be turning over in his grave, The whole point of DEI was to leave a legacy for his family. If Dale was still alive and running things, DEI would be the powerhouse team in NASCAR and I believe Dale Jr would have a couple championships by now. Dale never accepted not winning and come hell or high water, he would have the equipment, resources, sponsers, etc to make DEI the most dominant team in NASCAR. It really is a sad day that Theresa would take on a partner or sell DEI. I agree wholeheartly that she had a buyer (Dale JR) but she couldn't stand to see him take over and bring DEI to the forfront again. Something she can never do.
 
buckaroo said:
Actually, she is the one who built it in the first place, though you probably don't believe that. This woman is a very shrewd businesswoman but when her husband died and then her step-son didn't want to play along, the fans went with him and blamed her.
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:beerbang::beerbang::beerbang::beerbang::beerbang:
 
buckaroo said:
Actually, she is the one who built it in the first place, though you probably don't believe that. This woman is a very shrewd businesswoman but when her husband died and then her step-son didn't want to play along, the fans went with him and blamed her.
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I believe she was a huge part in building DEI, but I don't think she has the same racing desire Dale had. She is a shrewd businesswoman, no doubt, but at some point, especially in today's NASCAR landscape, you have to strive to be #1. I just don't see the same desire as the Hendrick's and Rouch"s to be the best.
 
bsquared31 said:
I believe she was a huge part in building DEI, but I don't think she has the same racing desire Dale had. She is a shrewd businesswoman, no doubt, but at some point, especially in today's NASCAR landscape, you have to strive to be #1. I just don't see the same desire as the Hendrick's and Rouch"s to be the best.
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Now that I can agree with. One thing that people just never stop to think about is the fact that it was her HUSBAND that was killed. I venture to say that few people would feel like continuing an operation that took one's partner in life. Kyle Petty did a tremendous job of using the death of his son to make life better for someone else, but he had the backing of not only his wife, but the NASCAR world too. Theresa has never had the backing of the fans and for the most part, it's because of what happened between herself and Jr, and like it or not, the public really doesn't know what happened there. If DE were still alive today, I'm sure that Jr would probably still be driving the #8, and while I don't know if he would have had a championship, I do believe that he would still be in the same state that he is today, popular and in the Chase. Theresa has been involved in racing all of her life and to say the she isn't as devoted as anyone else is only speculation. But I never heard such talk when Jack Roush sold part of his team. When Evernham did the same, or when the Petty's did so. But when the "hated" Theresa Earnhardt talks of doing the same, it's the same old song, she's going to kill DEI.
 
:rolleyes:

Pfft.

Like it matters who owns DEI, or who drives for them. :rolleyes:

They'll never be championship contenders. Kyle Busch and Joey Logano are going to make them look like amateurs. :rolleyes:
 
buckaroo said:
Actually, she is the one who built it in the first place, though you probably don't believe that. This woman is a very shrewd businesswoman but when her husband died and then her step-son didn't want to play along, the fans went with him and blamed her.
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He wanted results and performance. It's not about playing along.

DEI's been a trainwreck.

One win (by luck) in 2005 and Jr missed the Chase. He barely made the Chase in 2006, and only scored one win. 2007, no wins and no Chase. 2008, DEI has no wins and no cars in the Chase.

DEI's been a sinking ship for years. I don't know what's going on inside DEI to cause that, but they've definently fallen from even a contending team.
 
Though I find it amazing that she won't sell a number to Junyer, but she can sell the whole team.

Sad, truly sad. Dale's rolling in his grave tonight. :(
 
doesnt dale jr still own his part of DEI that he had before? Nobody ever talked about that after the move to hendrick. I would imagine he doesn't just loose it because he goes to another team.
 
UPDATE: Max Siegel, President of Global Operations at DEI is currently in negotiations with major investors to buy Teresa Earnhardt out of DEI, a source close to the negotiations said Monday. It appears now that Teresa is finally willing to sell, and Siegel is working diligently with a number of potential investors to take the company over. Sources said Siegel would not just be buying a portion of DEI or a controlling interest, rather, he would be buying the entire company. Sources said, Teresa has agreed to walk away from the company entirely for the right price. That price is supposedly somewhere between $115-$130 million dollars. With one exception...Teresa would retain the rights to all "Dale Earnhardt' and 'Intimidator' rights and merchandise sales. Siegel would only be buying the DEI race teams, and real estate including all race shops and the DEI headquarters in Mooresville, NC. Sources said Siegel is very serious about the purchase and appears to have investors salivating over the opportunity to own the legendary team. In addition, Teresa has grown more frustrated with NASCAR nation following her fall-out with the sports most popular driver, and wants nothing more than to be out of the public eye for good.(Captain Thunder Racing)(7-8-2008)
 
basscatcher89 said:
doesnt dale jr still own his part of DEI that he had before? Nobody ever talked about that after the move to hendrick. I would imagine he doesn't just loose it because he goes to another team.
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Teresa is 100% owner.....none of the kids have ownership in the company.

Taylor will be the only Earnhardt kid that gets any benefit from DEI.
 
DEI's Max Siegel has denied this report, saying that they have not hired anyone to look for a buyer.
 
Yes, it's been officially denied--- but, I'm of the opinion that where's there's smoke, there probably a fire. May be a small one, but I don't think this is a dead issue.

As for Dale buying ---- RUN, DALE, RUN. Get away, get far away.
Make your own name with your own brand.
 
UPDATE 2 reports refuted: Dale Earnhardt, Inc. is not for sale -- right now. DEI president Max Siegel on Tuesday refuted an Internet report that company owner Teresa Earnhardt had commissioned investment banking firm Bear, Stearns & Co., Inc. to locate a buyer or financial investment partner. "We have not engaged Bear, Stearns or Goldman Sachs or anyone else," Siegel said. "We are contacted all the time by outside firms about getting involved in the sport. We are not for sale right now. Nothing is imminent. Are we constantly weighing that as an option? Does that make sense? Quite frankly, we don't know," Siegel said. "Every team is looking for a way to bring in appropriate resources. Every single one. We haven't engaged anybody. People obviously approach us -- they're approaching everybody. We're looking to be around for a long time in future. We're feeling pretty damn good about where we're going, competition-wise." Siegel was forced to approach his driving corps with assurance that the team is currently not for sale. "I have assured them it's not true," Siegel said.(ESPN.com)(7-8-2008)
 
Bucky Badger said:
Bear, Stearns & Co has money to throw into a racing team...something doesn't seem right to me.
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Sounds right to me.

We, the taxpayer, bailed them out of all their debt. ;)

Instead of the government doing anything about gas prices or the falling economy altogether, they're busy bailing out big businesses that are going bankrupt due to poor business decisions. But, if a citizen goes bankrupt due to poor financial decisions, the government's attitude is ****'em.

That's DC for you. Help those who already have billions live and kick the poor while they're down. That's what Government does best. :)
 
Well good, nice to see that our gubbermint is doin' somethin' nice with our tax money. And quit whinning about gas prices, if I can aford it so can you!! LOL Duane
 
buckaroo said:
Actually, she is the one who built it in the first place, though you probably don't believe that. This woman is a very shrewd businesswoman but when her husband died and then her step-son didn't want to play along, the fans went with him and blamed her.
Click to expand...

Yep a lot of people don't realize that, she was the brains behind the operation.
 
buckaroo said:
Now that I can agree with. One thing that people just never stop to think about is the fact that it was her HUSBAND that was killed. I venture to say that few people would feel like continuing an operation that took one's partner in life. Kyle Petty did a tremendous job of using the death of his son to make life better for someone else, but he had the backing of not only his wife, but the NASCAR world too. Theresa has never had the backing of the fans and for the most part, it's because of what happened between herself and Jr, and like it or not, the public really doesn't know what happened there. If DE were still alive today, I'm sure that Jr would probably still be driving the #8, and while I don't know if he would have had a championship, I do believe that he would still be in the same state that he is today, popular and in the Chase. Theresa has been involved in racing all of her life and to say the she isn't as devoted as anyone else is only speculation. But I never heard such talk when Jack Roush sold part of his team. When Evernham did the same, or when the Petty's did so. But when the "hated" Theresa Earnhardt talks of doing the same, it's the same old song, she's going to kill DEI.
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I think in this day an age that in order to survive as an organization you need a partner for financial backing. Al the other teams are doing it, so there must be a good reason why. I argue that Teresa is doing just the opposite for DEI, she is trying to preserve the legacy by getting more financial backing, she is trying to keep the teams competitive. As we all know the cost of fielding a multiple car operation is astronomical these days.
 
Bucky Badger said:
Bear, Stearns & Co has money to throw into a racing team...something doesn't seem right to me.
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Yeh no kidding with the stock market the way it has been, banks falling to the wayside. When i heard Bear Stearns name in all of this i kind of wondered the same thing.
 
Mopardh9 said:
Yeh no kidding with the stock market the way it has been, banks falling to the wayside. When i heard Bear Stearns name in all of this i kind of wondered the same thing.
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Yep.

Government bailed them out, good ole' Corporate Welfare.:) Meanwhile the rest of us are getting screwed in all this.:mad: It doesn't feel good either.:eek::mad:
 
mudslinger47 said:
Well good, nice to see that our gubbermint is doin' somethin' nice with our tax money. And quit whinning about gas prices, if I can aford it so can you!! LOL Duane
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Yes but some people actually give a **** where their money goes........
 
Bear Stearns was sold to J.P. Morgan Chase in May of 2008.
IF, there were offers made to DEI, they would have come from J.P. Morgan Chase.
 
mudslinger47 said:
Well good, nice to see that our gubbermint is doin' somethin' nice with our tax money. And quit whinning about gas prices, if I can aford it so can you!! LOL Duane
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Yeah, because bailing out businesses for making poor business decisions is such a good use of money. :sarcasm:

By the way, our tax money has been put to good use. Read some of the bills to come out of Congress. :eek: It's public record you know and these people have spent money like alcoholics at the beer trailer at a NASCAR (had to get back on subject somehow) Race. LOL Andy

Go Panthers said:
Yes but some people actually give a **** where their money goes........
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Hey now, if Mudslinger doesn't mind taking it in t...er, um, nevermind. ;)
 
To veer slightly more as an attempt to clarify some statements, Bear didn't take the hit alone. 266 mortgage companies have gone under with the housing crisis.
Gas prices should start to ease some. It was announced yesterday that India will be reducing the subsidy they pay on gas. Currently Indians are paying $2.66 a gallon. That price is a 5% increase and will go up more. Remember China has already started backing off their gas price support and Mexico will be as well. So as their prices go up there should be more supply on the markets which should bring the prices down, some.

As to DEI and Teresa, yeah let's paint her as the bad guy. Afterall Ray and Jack bringing in investors was because they're shrewd businessmen. Teresa is just a B**** trying to destroy Nascar.
 
I was being sarcastic, guess you might have missed that. But on a good note, gas has dropped from 4.69 to4.41 in two and a half weeks, some good news. Duane
 
Menard sponsorship might be abandoning DEI, also. Paul Menard could wind up in a Ford.

Regan Smith, the promising rookie who may not have any sponsorship next season at DEI, will apparently soon be sidelined; Mark Martin is leaving DEI at the end of the season to join Rick Hendrick; Martin Truex Jr. is trying to leave DEI at the end of the year, though that legal issue is still up in the air; and Paul Menard’s wealthy father John is reported talking with Ford’s Jack Roush apparently about moving his financial NASCAR stake there, presumably with Paul Menard driving a Roush-Yates Ford in 2009. That only leaves DEI with newcomer Aric Almirola.(Winston Salem Journal)(7-10-2008)
 
Dale Earnhardt Jr. wanted at least 51 percent of Dale Earnhardt Inc. last season before he opted for a fresh start at Hendrick Motorsports. If the company were up for sale now? "I don't mean this in a bad way, but I would not have any interest in purchasing it," Earnhardt said following Thursday's first practice at Chicagoland Speedway. "I would not have any interest in purchasing any race team, just to have the ownership." The subject was broached because of an Internet report earlier in the week that claimed DEI owner Teresa Earnhardt had commissioned the investment banking firm Bear, Stearns & Co. Inc. to locate a buyer or financial partner. DEI president Max Siegel refuted the report, saying the company is not for sale.(ESPN.com)
 
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