...he forced me. He had pictures. :MECOOL:

Ahhh, it warms my heart to see Dan around these parts! :D

So, what happened to the "explanation letter?" All I see is "Page Not Found."

Sorry Ron, I have to let the "sheep" out of the bag!

Them servers cost too much. :p

This has become another CS bash, and it's really rather sad. If you read the WHOLE article on AutoWeeks site, it gives a better perspective. They are trying to build up enough cash to bank it, and use the dividends of that $ to grant to kids so that the CHARITY outlives it's namesake. Solid reasoning. Lets not forget that the charity was really a shoestring deal for CS and didn't rake in big bucks until Ford came along and started supporting it. :cool:
Oh, and the comment about CS buying his way to the top of a list? Just shows how ignorant some can be. There isn't a shopping list; either you match or you don't....PERIOD. My neice got a kidney transplant VERY quickly by sheer luck, CS waited YEARS for his heart so think before printing, please.

There is plenty of criticism to go around for all charities.

Consider the largest "transparently operating" charity in the world, the Bill and Melinda Gates Foundation, with $33 billion in assets. To attract and retain qualified health care workers to their cause, they pay more for them. Here is what they get for their good deeds in the area of AIDS assistance in Africa:

"Diversion of health care resources.....
In a January/February 2007 Foreign Affairs article, Laurie Garrett claims that many charitable organizations, among whom the Gates Foundation is prominent, harm global health by diverting resources from other important local health care services. For example, by paying relatively high salaries at AIDS clinics, the foundation diverts medical professionals from other parts of developing nations' health care systems; the health care systems' ability to provide care diminishes (except in the area the foundation funds) and the charities may do more harm than good."

Sometimes you can't win on every angle that is scrutinized.

Another letter by CS
 

July 23, 2007

Posted on Blue Oval Forums......(a lot of the letter is the same as Computer Works posted on page 3)

Mr. K.C. Crain Jr.
Publisher
AutoWeek


K.C.,

I was surprised by Kathy Jackson's misinformed article about the Carroll Shelby Children's Foundation. Ms. Jackson did not contact me personally to request an interview and I just learned that an executive at Shelby Licensing failed to pass her request for comment to me. I've always been proud to talk about the Foundation. A conversation with me would have resolved any concerns and allowed me to explain my long term goals.

Some who read this article might think that the Foundation is not running on all cylinders. Nothing could be further from the truth. We’ve throttled back a bit on our giving because we are committed to create a perpetual endowment. It’s routine for non-profit organizations to build an endowment that ensures the group can continue its mission in the future. At 84 years old, you can understand why I’m concerned with this issue. I want the Foundation to do great work years after I’m not around.

Though we’ve experienced a few growing pains, I’d like to point out a few important items:

• I hired Jenni Shreeves, a very capable Foundation director and very recently expanded the board to help us reach our endowment goals; they are helping me make donation decisions that won’t risk the Foundation’s future financial security.

• I’ve been searching for another person from outside the auto industry with expertise in this area to join the board of directors and provide additional expertise, as well as different perspective.

• Prior to working with Ford Motor Company beginning in 2006, I personally raised almost all of the funds for the Foundation by donating my personal cars and signing autographs. Sooner or later, I will run out of cars and the ability to sign autographs. Working with Ford has allowed us to take that next step and build a more diverse donor base for the Foundation.

• With the sudden inflow of significant money over the past 18 months, we tapped Wells Fargo to analyze our strategic plan and help us manage these funds. It is prudent stewardship to put on the brakes instead of throwing around money like a drunken lottery winner. We expect to announce their findings shortly.

• We’re not “skimping on the giving.” While the Foundation will certainly continue to donate money to deserving kids and groups, everyone on the board is first committed to building the endowment so we don’t run out of money once I can’t sign autographs to raise funds. We won’t toss out our long-term strategic plan for a short-term benefit because of misinterpreted information discussed during an interview with a Shelby executive.

What began as an effort to help kids has become much larger than I ever imagined thanks to many wonderful people, including partners such as Ford. While our fundraising was once confined to small donations, they have dramatically accelerated our efforts. We are much closer to making more substantial and more frequent donations for years to come.

The team is meeting our challenges head-on while building a world class organization. I invite Ms. Jackson to talk to me anytime. I am sure she, and Automotive News readers, will be impressed.

Sincerely,


Carroll Shelby

Ron and Earl,

Thanks for posting the letters since the link was dead. I'll reserve primary judgement.

However, using the foundation's funds for what looks like Shelby Autos "marketing travel" doesn't seem like the best way to help sick kids. Seems to me the car company should be picking that up. The "foundation" seems to serve an important marketing function for the Shelby brand.

I believe in their statement of funds the charity pays expenses ONLY to events in which CS will be fundraising for the charity. Of course since he signs autographs for the $ to the fund I suppose this could be ALL events??
All I am saying is that the old man has his heart in the right place (sorry %/ ) and is trying to do the right thing. he has brought in professionals to help organize the fund (maybe Ford's doing) and bankers to maximize it. Let's give the old wanker the benefit of the doubt. :) I sure hope that when all is said and done the fund wasn't some marketing gimmic or a tax dodge...I can't afford to lose too many more heroes!

One of my favorite lines...

"I had the RIGHT to remain silent, but not the ABILITY"

I can't imagine that organization would ever come up with a marketing gimmic or tax dodge. :-D

I should apologize for my earlier comments on this thread. Of course, CS deserves the benefit of the doubt (at least from me). I was hasty in my judgment based on a single article, and without any background information jumped to the worst possible conclusions. I look forward to see what great things he has planned for his foundation, and hope that his group is able to work as quickly as possible to begin helping those in need.

Thanks, Very well said
 

Thank for making these comments which I believe are right on.
I get sick of seeing people on this site attack the man out of pure joy.:mad:

Mark-your comments were dead nuts on to begin with.


RedCSX1-not pure joy.Pure reality.

427Sharpe-your "hero" left the building a long,long time ago.

Thanks Bill - but I really shouldn't have made such a broad set conclusions from a single source of information - even if it was a "journalist" - you can't believe everything you read. So (for now) I'm remain apologetic, and I'm ready, willing and able to applaud any and all big things coming from the foundation. I hope for all of the kids that things get turned around quickly. I really can't wait! But even with my tolerance and enthusiasm - there are those who (in a very literal sense) really can't wait.

Folks would do well to read Carroll Shelby's rebuttal at the end of the article before drawing conclusions. "Growing" the endowment fund for perpetual stability instead of giving away a lot of the value does make sense and will continue his good intentions for many years after he is gone.

bob