Gene Haas Arrested
Wednesday, June 21st, 2006 10:53am CDT
By Luke, Thunder Lounge
Published on Thunder Lounge.
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[thumb:362:l:s=1:l=x]Gene Haas was arrested last Monday on charges of tax fraud, intimidating witnesses, and intimidating a federal agent. The report is that the tax charges cost the Fed’s nearly $20 million.
Reported in the New York Times on Tuesday, it hit Nascar.com late yesterday afternoon. Marc at Full Throttle and Clance over on the Oval have discussed it already as well.
All good points, and naturally with a little satire as well. Marc’s point wondering about if the taxpayer’s could now be considered partial sponsor’s of the #0 and the #66 is priceless.
According to a Haas Automation statement, Haas is not guilty and that the tax issues “revolve around” the company’s former chief financial officer, John Phillips.
That’s all fine and dandy, as a bad CFO can screw a company in a heartbeat. However, there’s more to the story than that. Witness intimidation, including a federal agent? What the…
While there are two sides to every story, and nobody is guilty until proven to be (supposedly), the unfortunate downfall is all of the negative press that is, and will continue, to be generated around this story.
The losers here are the fans of Nascar, and the current Haas-CNC drivers.
If you were a sponsor would you want your name plastered all over a 200mph billboard, and all the merchandise associated with it, that is even in such a close proximity to a case of this nature? I wouldn’t want my name anywhere near it. I’d be gone quicker than the road runner being chased by the coyote. Whether the party, or parties, involved are guilty or not. Just the press coverage and negative light from this can damage a relationship, and the negative effects are long reaching.
If you put your trust in someone to take care of the financial side of things, and they stick it to you, perhaps there is sufficient evidence to prove you had nothing to do with it. However, I haven’t seen anything (not to say it isn’t out there, or hasn’t happened) reported about John Phillips being hauled downtown yet.
We’ll know and learn more as the crazy days of summer continue.
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Gene is innocent.
Jered Weaver said this on June 29th, 2006 at 6:26 pm
Well sailor, we’d all like to believe that. And yes, he is. Until someone proves him otherwise.
However, if I’m a sponsor, I’m still not a happy camper at the moment.
Luke said this on June 29th, 2006 at 8:56 pm
Luke I totally agree with you. What a mess. I have friends that work in the industry. All say the race team won’t be affected. But my question is how can it not? Isn’t part of the investigation dealing with American Putter running through false invoices through one of the NASCAR teams sponsored by HAAS? I’m going to say if they were going to do that won’t they do it “in house” not through one of the teams Rick Hendrick owns (since HAAS is a co-sponsor on his 4 NASCAR Teams). My concern is for all the hardworking behind the scene guys that count on their jobs. Drivers and crew chiefs will bounce back. It’s the average, wrench turning joes that are going to be hit the hardest.
Laurie said this on July 4th, 2006 at 11:05 am