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#11 |
VIP Member
Join Date: Dec 2001
Location: Arkansas - In the middle of everything.
Posts: 2,001
Likes: 64
Liked 779 Times in 193 Posts
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NHRA is now being operated from the corporate America playbook. All the strategies and policies we are seeing could just as easily have been developed in executive meetings at DuPont, AT&T, Exxon or any other attorney/profit driven organization.
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#12 |
VIP Member
Join Date: Jun 2002
Posts: 1,855
Likes: 83
Liked 444 Times in 145 Posts
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Wally may not think too much of the current state of affairs of the nhra. But he would also have to accept the fact that he turned the money dogs loose. He orchestrated the theift of the organization from its membership and invited the wolves to take over.
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Bruce Noland 1788 STK |
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#13 | |
Junior Member
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Doug Humes |
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#14 |
Member
Join Date: Dec 2004
Posts: 215
Likes: 16
Liked 79 Times in 22 Posts
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As "members" of the non-profit organization do we have any rights in saying how "our" organization is run?
Can we vote out/in people of the board of directors who are not aligned with it's members best interest? Are we legally allowed to see how all of "our" money is being spent? Will my car be torn down at every race I attend for the rest of my life because I posted this? CALIFORNIA CORPORATIONS CODE http://www.leginfo.ca.gov/.html/corp..._contents.html PART 3. NONPROFIT MUTUAL BENEFIT CORPORATIONS CHAPTER 1. ORGANIZATION AND BYLAWS Article 1. Title and Purposes ............................... 7110-7111 Article 2. Formation ...................................... 7120-7122.3 Article 3. Articles of Incorporation ........................ 7130-7135 Article 4. Powers ........................................... 7140-7142 Article 5. Bylaws ........................................... 7150-7153 Article 6. Location and Inspection of Articles and Bylaws ...... 7160 CHAPTER 2. DIRECTORS AND MANAGEMENT Article 1. General Provisions ............................... 7210-7215 Article 2. Selection, Removal and Resignation of Directors .. 7220-7225 Article 3. Standards of Conduct ............................. 7230-7238 Article 4. Examination by Attorney General ..................... 7240 CHAPTER 3. MEMBERS Article 1. Issuance of Memberships .......................... 7310-7315 Article 2. Transfer of Memberships ............................. 7320 Article 3. Types of Memberships ............................. 7330-7333 Article 4. Termination of Memberships ....................... 7340-7341 Article 5. Rights and Obligations of Members and Creditors .. 7350-7354 CHAPTER 4. DISTRIBUTIONS Article 1. Limitations ...................................... 7410-7414 Article 2. Liability of Members ................................ 7420 CHAPTER 5. MEETINGS AND VOTING Article 1. General Provisions ............................... 7510-7517 Article 2. Additional Provisions Relating to Election of Directors ........................................ 7520-7527 CHAPTER 6. VOTING OF MEMBERSHIPS ............................. 7610-7616 CHAPTER 7. MEMBERS' DERIVATIVE ACTIONS .......................... 7710 CHAPTER 8. AMENDMENT OF ARTICLES ............................. 7810-7820 CHAPTER 9. SALES OF ASSETS ................................... 7910-7914 CHAPTER 10. MERGERS Article 1. Merger ......................................... 8010-8019.1 Article 2. Effect of Merger ................................. 8020-8022 CHAPTER 11. BANKRUPTCY REORGANIZATIONS AND ARRANGEMENTS ......... 8110 CHAPTER 12. REQUIRED FILINGS BY CORPORATION OR ITS AGENT ..... 8210-8217 CHAPTER 13. RECORDS, REPORTS, AND RIGHTS OF INSPECTION Article 1. General Provisions ............................... 8310-8313 Article 2. Required Records, Reports to Directors and Members 8320-8325 Article 3. Rights of Inspection ............................. 8330-8338 CHAPTER 14. SERVICE OF PROCESS .................................. 8410 CHAPTER 15. INVOLUNTARY DISSOLUTION .......................... 8510-8519 CHAPTER 16. VOLUNTARY DISSOLUTION ............................ 8610-8618 CHAPTER 17. GENERAL PROVISIONS RELATING TO DISSOLUTION ....... 8710-8724 CHAPTER 18. CRIMES AND PENALTIES ............................. 8810-8817 CHAPTER 19. FOREIGN CORPORATIONS ................................ 8910 |
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#15 |
Member
Join Date: Sep 2011
Posts: 221
Likes: 0
Liked 1 Time in 1 Post
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I think Chapter 18 would be a interesting read...................
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#16 |
Senior Member
Join Date: Mar 2002
Location: usa
Posts: 752
Likes: 204
Liked 136 Times in 49 Posts
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As much as everyone would like to think Wally would have an issue with what is going on. Fact is he is the one that brought these people in and he was one of the directors cashing the big checks in the end.
The sad part is there is no one at NHRA that cares about Cars and probably very few that care about racing. It is an entertainment business now. |
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#17 |
Senior Member
Join Date: Aug 2004
Posts: 674
Likes: 15
Liked 584 Times in 94 Posts
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I'll tell you what he'd say ...because I heard it ! I was crewing for Ken Veney when he won his last National event Gainesville 1982 ?? Wally stop buy to say Hi and congrads. Ken said, (something along the line) , Wally a few years ago I won yada yada yada National Event and got around 20K. Now I win this race years later, (expenses have doubled), and I get 10K. Wally said, AND I QUOTE - " Yes, I know. I don't know how you you guys do it."
Draw from this whatever you like.............. |
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#18 |
VIP Member
Join Date: Feb 2002
Location: lyndon ky. ... louisville area
Posts: 1,322
Likes: 29
Liked 474 Times in 117 Posts
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i know one thing ... wally designed the sportsman eliminators to showcase all classes in that eliminator... hence the field for finals day was comprised of the class winners and THEN filled with the remaining cars who qualified well but were beaten in class.
that rule was changed before the dirt was tamped down on his grave. what wally, farmer and buster built sure made some guys rich when they sold us out. captain, too old, too dumb to quit.
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Jack McCarthy 3609 STK "the Captain" |
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