ARCHIVES

Tuesday December 14, 2010
 

By Phil Smith                                                                                             

In just a little over a couple of days, this Thursday, December 16 to be exact, 1080 Hartford Road LLC will be back in court to answer as to why terms of Chapter 11 Bankruptcy have not been met and why the court should not mandate Chapter 7 liquidation.

Since 2007 thousands of dollars have been borrowed by 1080 Hartford Road LLC. Those in question loaned the money in good faith and now want their money back because nothing has been paid back. Rocco Arbetell and Peter Borrelli who are owed $818,750 are listed as the first mortgage owners. Ted Parker Jr is the second mortgage holder. Parker Jr is owed $138,100. Shawn Parker is the third mortgage holder and is owed $110,300. First H & M Corporation of Mystic CT is the fourth mortgage holder and is owed $63,864, Shawn Monahan a Waterford businessman and competitor at the Waterford Speedbowl is the fifth mortgage holder and is owed $47,000 and CCi Incorporated of New London CT is the sixth mortgage holder who is owed $130,218.25.

Its mind boggling along with out and out being brash that 1080 Hartford Road LLC has not made an attempt to pay down the debt owed. In the event that the court mandates Chapter 7 liquidation it is hoped that the judge will order 1080 Hartford Road LLC to escrow funds that have been collected for competitors and fans who have paid in advance for season passes for the 2011 season.
 

COURT FILING (pdf)

COURT FILING 2 (pdf)

COURT FILING 3 (pdf)

 

Keith Rocco spent the better part of three summers leading the NASCAR Whelen All-American Series race, only to watch the title slip away in the closing weeks. Determined to change that in 2010, Rocco put together one of the more remarkable championship runs in the history of the NASCAR Whelen All-American Series. Rocco won six of his first seven points races en route to a 21-win season, and clinched the national championship with more than a month remaining in the season.

Racing the Connecticut asphalt Modified short track circuit, Rocco won the SK Modified championships at Stafford Motor Speedway and Waterford Speedbowl. He also threw in a handful of starts at Thompson International Speedway.

An engine builder by trade, Rocco is the son of former racer Ronnie Rocco.

Bobby Santos III, car owner Bob Garbarino and the Mystic Missile Racing team were honored for their NASCAR Whelen Modified Tour Series Championship as part of the festivities surrounding the NASCAR Night of Champions Touring Awards Gala this past Saturday at the Charlotte Convention Center's Crown Ballroom in the NASCAR Hall of Fame.

Santos, a third generation racer from Franklin, Mass., had a breakout season that was highlighted by four wins and four poles behind the wheel of the No. 4 “Mystic Missile” Dodge. In addition, his championship run achieved a number of milestones. Santos became the youngest champion in the 26-year history of the Whelen Modified Tour when his sixth-place finish in the season finale on Oct. 17 at Thompson (Conn.) International Speedway clinched the crown. Santos turned 25 on Oct. 3, the same day of his fourth win of the season in the CARQUEST Fall Final at Stafford (Conn.) Motor Speedway. Todd Szegedy was the previous youngest champion at the age of 27 in 2003. Santos recorded other notable accomplishments during his title run. He set track qualifying records at Thompson and Stafford to begin the year and was the Coors Light Pole Award winner in each of the first three races on the schedule, which tied Ted Christopher’s 2009 mark for consecutive poles to begin a season. Santos also became the first driver in Tour history to win three of the first four races to begin a season with triumphs at Thompson, Stafford and Martinsville Speedway.

As of this Friday, Dec 17, eight weeks remain before the engines roar again in Florida for the 45th ANNUAL WORLD SERIES of ASPHALT STOCK CAR RAC ING at the New Smyrna Speedway which will be featuring Super Late Models, Limited Late Models, Crate Late Models, NASCAR Tour-Type Modifieds, SK Modifieds, FL/IMCA Type Modifieds, Pro-Trucks, ACT Late Models from February 11th-19th. The ACT Late Models are new to the schedule and are a welcome addition to the already popular Speedweek Series.

In TV land the viewing remains scarce. Thursday at noon the Speed Channel replays the Oct 3 NASCAR Sprint Cup Price Chopper 400 that was run at the Kansas Speedway. Friday at 2:00pm Speed presents Lucas Oil Off Road Racing, Pro 4 Unlimited and Pro Buggy Unlimited that was run in Las Vegas, NV on Nov 6 and 7. At 9:00pm ESPN Classic replays the 1979 Daytona 500. ESPN Classic will repeat the 1979 Daytona 500 at 8:00am on Saturday. At 11:00 am its the NAPA Lucas Oil Drag Boats, World Finals, Top Alcohol Hydro races that ran at the Firebird International Raceway in Chandler, AZ At noon, Speed has the Lucas Oil Off Road Racing, Pro 4 Unlimited & Pro Buggy Unlimited races that were run in Las Vegas on Nov 10. On Sunday at 8:00pm the Speed Channel will show Highlights of the 2010 SEMA (Specialty Equipment Manufacturers Association) Show from Las Vegas.

On the Speedway Stock Market scene last week all three speedway stocks ended the week on a positive note. Leading the pack is the International Speedway Corporation which went up 0.77 to 25.63. Speedway Motorsports went up 0.53 to 15.62 and Dover Motorsports went up 0.01 to 1.81. NASCAR Cup sponsor Sprint went up 0.30 to 4.22 while NASCAR fuel supplier Sun Oil went up 0.46 to 40.04. Tire supplier Goodyear also had a good week as they went up 1.42 to 11.35. The car makers ended the week on the negative side. Ford dropped 0.07 to 16.73 as General Motors dropped 0.74 to 33.81 and Toyota dropped 1.79 to 77.26. In the home improvement sector Home Depot went up 0.92 to 34.40 and Lowes went up 0.36 to 25.22. The major team sponsors were off for the week. Dupont dropped 0.59 to 48.62, Coca-Cola dropped 0.35 to 58.78, Target Department Stores dropped 0.17 to 58.95, Aarons Rentals dropped 0.09 to 20.65 and Fedex dropped 1.02 to 93.98.

The International Speedway Corporation was on the receiving end of a windfall last week with the termination of the agreement with KB Marine Holdings LLC ("KB Holdings") for the sale of its Staten Island, New York property. KB Holdings did not fulfill the terms of the second amendment to its definitive agreement to close the transaction on or before November 30, 2010. The Agreement, which was entered into in November 2009, contemplated KB Holdings' purchase of 100 percent of the outstanding equity membership interests of 380 Development LLC, a wholly owned indirect subsidiary of ISC and owner of the Staten Island property. Upon execution of the Agreement, ISC received a non-refundable $1.0 million payment. As a result of the transaction terminating, ISC will pursue discussions immediately with alternative buyers for the 676-acre parcel of property located in Staten Island.

International Speedway Corp. has approved $3 million for capital improvements at Watkins Glen International Speedway. The project includes four new grandstands, a new club to replace the original Glen Club that was destroyed by fire in 2007, and permanent showers in the infield. The most noticeable improvement will be the addition of permanent grandstands in the final two turns of the 11-turn circuit, another next to the pedestrian bridge, and one at the outside of the first turn, a 90-degree right-hander at the end of the front straightaway.

Track president Michael Printup said in a year in which NASCAR suffered hits in both track attendance and television viewership, attendance at WGI's Sprint Cup race in August remained solid and was one of the last races of the 2010 season to hold its own.

That’s it for this week from 11 Gardner Drive, Westerly RI 02891. Ring my chimes at 401-596-5467. E-Mail is smithpe_97_97@yahoo.com


Phil Smith has been a columnist for Speedway Scene and other publications for over 3 decades.

Web Design Copyright © 2009  www.VintageModifieds.com & www.SpeedwayLineReport.com - All Rights Reserved
Opinions expressed in Phil Smith's "Champ Trail" do not necessarily reflect the opinions of SpeedwayLineReport.com and the contents are the sole responsibility and opinions of the author.
For permission to reproduce any part of"Champ Trail" contact Phil Smith @
smithpe_97_97@yahoo.com
The "Champ Trail" is Copyright © 2006-2009 Phil Smith