DEI for sale

Discussion in 'Wolfman's Nascar Pit Stop' started by smokey, Jul 8, 2008.

  1. smokey

    smokey New Member

    Messages:
    1,876
    State:
    Tennessee
    Thats right the evil stepmother is at it again.The witch of Moorsville wants out of NASCAR but not out of the money. She wants to sell DEI for a cool 115-135 Million.That sounds like a good deal, ohh but wait.She wants all of the money from souveniors, I mean what else is there? A 2nd rate race team,some land, and a race shop.wonder if the step kids would be in line for any of that cash?OHH man I just hate her, and I dont have a dog in the race.Sorry about the rant.I will take my meds now,and feel much better in a few.
    smokey
     
  2. ryang

    ryang Well-Known Member

    Messages:
    5,290
    State:
    Blacklick, Ohio
    Name:
    Gary
    Be funny if Hendricks buys them out :smile2: or just Gordon HEHEHHE
     

  3. PrittyKitty

    PrittyKitty New Member

    Messages:
    149
    State:
    Indiana
    I'm going to 2nd that one. We've all seen it coming with her though. She's been a you know what since Earnhardt passed away in 2001. Only reason she's wanting to sell it is cause her team can't hang anymore. The only chance that she had at winning she pushed away and now he's racing with an awesome team if you ask me!
     
  4. catfishjohn

    catfishjohn New Member

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    10,217
    State:
    Greenup Co. KY
    I 100% agree with you Smokey. I can't stand that.....witch!!!!!:angry:
    She blew it when she let Jr go. I bet Sr is rolling in his grave about now. I've already took my meds and they didn't help, I'm still pi$$ed at her!!!!!
    I've always been a Sr fan and a Jr fan since he started racing. Teresa blew this one BIG TIME!!!!!:angry::angry::angry:
     
  5. tufffish

    tufffish New Member

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    1,196
    State:
    Texas
    my question is why did she not offer it to jr. when he wanted a new contract.? hendrick may even loan jr. the money to buy it back in a couple of years since i don't think it will be worth near that much in a few years. the next question is since kerry is still at dei, do the kids own any part of it now?
     
  6. wolfman

    wolfman Well-Known Member

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    9,081
    State:
    Triadelphia, WV
    Name:
    Walter Flack
    wouldnt surprise me much if negotiations are taking place with her and Tony Stewart.
     
  7. JERMSQUIRM

    JERMSQUIRM New Member

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    13,145
    State:
    il-waynesv
    what a joke. ran off the mans son that built that name and now the biT^$ wants out. she needs drug out and burried under the re surface of the next track remodel.

    rick should buy it and let jr pay off the loans. then the rightful owner would be back in charge.
     
  8. Mark J

    Mark J New Member

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    9,407
    State:
    Four Oaks, NC
    Naw you got it all wrong.
    She needs courtin.
    She is single, loaded, good lookin, and has one of those eloquent southern accents.
    I need to snap my teeth in and go after that.
     
  9. JERMSQUIRM

    JERMSQUIRM New Member

    Messages:
    13,145
    State:
    il-waynesv
    lmao. i dont care for jr much but way i see it. if she want to sell the court should say no if you want to sell it goes to the kids.

    just the way i see it. im simple.
     
  10. BIG_D

    BIG_D New Member

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    8,107
    State:
    Batchtown IL.
    SR would want the kids to have it cant stand that women thout she had a little class boy was i wrong :0a28:
     
  11. brother hilljack

    brother hilljack New Member

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    7,305
    State:
    Shelbyville, TN
    Yep that don't make much sense to me. Oh well Jr is better where he is at and he can concentrate on racing
     
  12. catfishjohn

    catfishjohn New Member

    Messages:
    10,217
    State:
    Greenup Co. KY
    According to Jayski's Silly Season Site here is the latest Updates:

    http://www.jayski.com/cupnews.htm

    Scroll down to read the story...Wondering if its gonna happen???:confused2:
    If she does It'll be the only smart thing she has done....:angry:


    [SIZE=-1][SIZE=-1]Teresa Earnhardt Looking to sell DEI? UPDATE 2 Reports Refuted: is reporting today that Teresa Earnhardt has enlisted the services of Bear, Stearns and Company [actally there is no more as JP Morgan aquired them] 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.(7-7-2008)
    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.(7-8-2008)
    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.(7-8-2008)
    [/SIZE]
    [/SIZE]
     
  13. Mark J

    Mark J New Member

    Messages:
    9,407
    State:
    Four Oaks, NC
    She played her hand against Jr. and lost.
    What is DEI without Jr and Buttwiper?

    Not much but a building. They are behind in technology.

    Why would she want to keep it now?

    I'm telling you, the woman knows how to make a dollar. She made Dale Earnhardt what he was in the banking department.
    She simply gambled and lost.

    I dont think Jr. is entitled to anything as a son to Dale Earnhardt unless Dale Earnhardt had entitled him with the only power he has in death. A will.

    Obviously Jr. was not immediately an heir upon his death however it remains to be seen if he will be an heir after Theresa'a death. This is the common practice with estates.
    The children may get a little something at the first passing but the estate(s) wont be dispersed until both parents are dead.

    My wife's stepfather died 8 years ago. She was in the will. There were three estates. His estate, her mother's estate, and their estate together as husband and wife. Upon his death my wife inherited nothing. Upon her mother's death those estates were to be dispersed.
    It's not an overnight thing either. It takes the better part of a year to see the first dime if there are many dimes to see. Real property has to be sold and depending if you assets liquidated such as stocks and bonds it takes more time.
    An estate the size of Earnhardt's I would imagine it takes more then a handful of people to manage it on a day to day month to month basis.

    If Earnhardt had meant for DEI to be Jr's, Junior would have the head chair over there right now.
    He wouldnt be at Hendricks.
     
  14. catman4926

    catman4926 New Member

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    1,602
    State:
    Texas
    Mark I believe you hit it on the nail head,and she is a looser without Jr.
     
  15. Bobpaul

    Bobpaul New Member

    Messages:
    3,039
    State:
    Supply NC
    Courtin' rich fancy women, just ain't your bag. You need to stick to building wooden canoes and drinkin' that high dollar beer:smile2::smile2::smile2:
     
  16. JERMSQUIRM

    JERMSQUIRM New Member

    Messages:
    13,145
    State:
    il-waynesv
    i wonder if he had a will or if he wasnt planning on dying yet.

    if i were him my son would have been the recipient.

    nothing against women but she has lost what ever name d.e.i. was. she lost alright. lost the earnhart racing organization.

    could you see someone like mark martin owning d.e.i. while dale earnhardt jr races for hendricks. if i was dale ide be begging god for one more hour on earth. to kill her and go to hell happy with my son in charge of my legacy.


    maybe ive got it wrong but if i were dead and my wife sold all my fishing gear, boat and guns and crap instead of saving it for my two boys ide be spinning in my grave. and i aint got 1 1/1,000,000th the stuff earnhardt had. JMO.

    i liked dale/ had a lot of respect for that man, and to see what she has done to that name sucks,IMO!
     
  17. Mark J

    Mark J New Member

    Messages:
    9,407
    State:
    Four Oaks, NC
    Jeremy, DEI is just a name on a building.
    DEI isnt much of a legacy representing the Earnhardts in racing.

    Jr. can well afford to build another DEI. Truth of the matter is I imagine some people like Waltrip that have been in the business a long time probally cooled his jets some about owning DEI and steered him into driviing for an organization like Hendricks.
    If you notice Earhardt on the introductions now he no longer claims Mooresville as home.

    He has built a huge spread somewhere else. A cowboy town with a saloon and crash rooms over the saloon. The kid is rolling in dough. He made more money last year then any other driver including the champion and Gordon.
    He dont need DEI to be Dale Earnhardt Jr.

    I'm sure Dale Sr. had an up to date will with the estate he has and given his occupation.
    Like I said If one parent dies it is rare for the estates to be dispersed until the other parent dies.
    Reason being is Theresa as his wife will live off of those estates until she dies at which point that Earnhardt's will, will be dispersed to completion as the will dictates.
    I dont know this to be fact but NORMALLY this is how wills are done.

    If I die today my daughter doesn't receive anything. At the time my wife dies the daughter inherits the the remainder of the estate.

    Could Theresa spend it all so the kids get nothing? Highly unlikely that she could or would. Like I said , someone with Earhardt's money and assets will have multiple estates.
    I never had a clue what all this entails until my wife's mother died.
    I know have an entire drawer in a file cabinet dedicated to monthly estate statements. I understand very little about the paperwork she receives constantly. Periodically I carry it to our home town bank which provides services for the stupid like me in these matters. Without them I'd have to hire an attorney just to understand whats being sent. October will be a year since she died. The estates still aren't settled and a house is on the market.

    The way these estates were set up her mother was to live off of her estate until it ran dry, then she would start in on his estate. When it ran dry , she would live off of their estate together. They were trusts.
    She just couldnt go to the trust dept. at the bank and cash in. It doesn't work that way typically. Alot of people dont realize that banks have trust depts and have the depth that they do. Banks have their own investment advisors and brokers. Its a one stop shop however there is a cost to it and it can be expensive. The banks draw their cut from the estates monthly and they get fat knot at dispersal time too and hit you with all kinds of fees for services rendered.
    A man with Earnhardt's money would have trusts in multiple banks because he would use multiple banks. Remember, the FDIC only insures up to 100 grand. I imagine he had money scattered all over the world and investments that his kids never knew he had not to mention real property that they never knew he had.
    Earnhardt probally had investments he didnt know he had. The man owned a seat on the NY stock exchange. The estate probally still does.

    Mom and dad have known someone that works for Jeff Gordon for years.
    They got the VIP tour of that race shop and facility.
    At that time the entire second floor of that building were offices of people that did nothing but look after Gordon's money. That was their job. I imagine it still is.
    So yes, I'm positive Earnhardt had a will. He was too savvy not to have one and an up to date one. When you are making that kind of dough and keeping the schedule he was there is no way he could handle his finances. He was paying people to do it for him. They tell him when to spend and when to chill out.

    DEI is a name on a building. You can put that name on any building just like he has stuck Jr. Motorsports on one.
    His legacy isnt that building. I've been in it. It was cool but it wasn't what Earnhardt will be remembered for.
     
  18. ryang

    ryang Well-Known Member

    Messages:
    5,290
    State:
    Blacklick, Ohio
    Name:
    Gary
    When we went to Charlotte for the race this year we visited HMS, both JG/JJ building and DEjr/CM building. You cant even get to the second floor of either building you need a key card or something like that for the elevator to open.

    Really cool buildings and you can see inside the Garage but not real well.
     
  19. JERMSQUIRM

    JERMSQUIRM New Member

    Messages:
    13,145
    State:
    il-waynesv
    jr has to win to build another d.e.i. though. and hes not getting it done right now. sure. one win this year. but that was luck of the caution out of gas.

    i dont follow the earnhardt name now thet sr is gone. but i still cant believe whats happened. even i believe it is more than a name on a building. thats why lots of buisnesses are called so and so and SONS, inc. there family buisness. and that buisness should be under an earnhardt racer. not a bi^%h thats greedy. IMO! she aint an earnhardt. she MARRIED ONE!
     
  20. catfishjohn

    catfishjohn New Member

    Messages:
    10,217
    State:
    Greenup Co. KY
    That last part is 100% true. She is nothing but a witch with a capital B, and nothing but a dam Golddigger witch!!!!!!!:angry::angry::angry::angry::angry::angry::angry::angry: