I got the following update from the Motorsport Ranch mailing list. I thought I would pass this along, in case there are any memberts that do not receive their e-mail updates.
From:
MSRanch@aol.com [mailto:MSRanch@aol.com]
Sent: Monday, December 31, 2001 11:35 PM
To:
MSRanch@aol.com
Subject: MotorSport Ranch - Looking forward to another great year in 2002
Dear Motorsport Enthusiast:
It has been brought to my attention (by two people now), that there is a rumor flying around that MotorSport Ranch is closing due to problems with the IRS.
Nothing could be further from the truth. This rumor leaves me completely dumbfounded. Hence, I am sending this email in an attempt to quash this rumor before it gets out of hand.
There were the many, many rumors that MotorSport Ranch would never become a reality. They proved to be false. There was the rumor about a year ago that MotorSport Ranch was up for sale. This rumor was traced back to the fact that the sign placed along hwy 377 by the general contractor, looked a lot like a real estate sign. This also turned out to be a false rumor, but at least the source of the rumor could be determined. This latest rumor that
MotorSport Ranch is closing due to IRS problems is not only false, it is completely unfounded.
I can assure you that MotorSport Ranch is in great shape, actually posting its first profitable year in 2001. There are two more large buildings under construction, with an additional two more due to be started in February or March of 2002. A second track (1.4 miles in length) has been designed already laid out, ready to be paved sometime in late 2002. Event weekends are booked and the calendar is saturated for 2002 and 2003. We are even booking into the year 2004.
Also, MotorSport Ranch is an "S" corporation, one of four "S" corporations founded and owned by myself, Jack Farr. The profits and losses of an "S" corporation flows to the bottom line of my personal 1040 income tax return at the end of the year. To say that MotorSport Ranch, an "S" corporation is in trouble with the IRS, implies that I am personally in trouble with the IRS. I pay my taxes faithfully, thank you. I actually got a sizable refund last
year, in fact. First time in over 15 years.
One of the sources of this latest rumor is the "lady behind the counter" where one person happened to purchase gas in Cresson this morning. This person then decided to propagate the rumor by posting it on the Texas Triathlon bulletin board and ending his post with "I sure hope this is an unfounded rumor."
I can assure everyone that the "lady behind the counter" at the gas station in Cresson is not privy to any of the business or financial dealings of MotorSport Ranch, and is by no means an authority on the Ranch or any of the other businesses. The "lady behind the counter" at the gas station in Cresson should certainly not be the source by which information is posted on the internet. Also, I sure hope the Internal Revenue Service of the United States of America is not attempting to contact me through "the lady behind the counter" at a gas station in Cresson. I would hope that they would simply use the Cresson Post Office as they do every year.
Even after the 9-11-01 tragedies, we had an unusual number of new members join our "Sports Car Country Club," putting membership at well over 300. MotorSport Ranch is looking forward to an even better 2002. It still remains the best way to get "seat time" with your favorite sports car, race car, or motorcycle, hang with your buddies (who share the same passion), meet new people (who share the same passion), or entertain friends, family, or business associates.
Also, the resident driving school has just published its school dates for the first quarter of 2002. Call Performance Driving School at 817-512-4848 or email
perfdriveschool@aol.com for more information. Intro to road racing classes start at $249
Here is wishing everyone a Prosperous and Happy New Year.
Best regards,
Jack Farr
President
www.motorsportranch.com
MotorSport Ranch - Letter from the President
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