Jump to content

Ernie

AOAI Forum Members
 View Profile  See their activity

  • Posts

    210

  • Joined

  • Last visited

 Content Type 

Posts posted by Ernie

  5. Just Bought an 89 Vert...few questions

    in 1984-91 Avanti

    Posted · Edited by Ernie

    Congratulations on your purchase!

    1. Temperature: Did you have a front license plate on your Avanti when you had the temperature problem? The grill opening on the 1989 is small do to the fog lights. A front license plate blocks over 50% of the opening. Then at highway speeds, the plates deflects even more air away from the grill opening.

    In the summer, I remove my front plate. With the plate removed I no longer experience the high temperatures you described. If I leave the plate on, I have the same situation that you described.

    If you did not have a front plate, I would suggest the radiator be flushed and the thermostat replaced with a 195. Our cars are 19 years old; so, when was that radiator flushed last?

    2. Rims/Tires: Don't replace your 'C4' rims. My Avanti came with the wires, and the Midwest potholes destroyed them quickly. I have had two different rims since then I am still not satisfied. We have another member in the Chicagoland Avanti Ass'n with a 1989 Convertible with the same rim problems.

    The 1987 and 1988 Avanti's are built on the Monte Carlo chassis. Our 1989's are built on the 'square' Caprice chassis. The rear axle length on the Caprice is too wide for the tapered rear end of the Avanti. The offset on the C4-rims is the maximum allowable. Any other rims will 'stick-out' too far and your Avanti will look like "rice!" Be careful!

    Notice the rear wheels sticking-out with my current rims: http://www.cardomain.com/ride/2809906

    3. White AVANTI: That was a factory option, and it is rare.

  11. interested in buying 63

    in 1963-64 Avanti

    Posted

    I just settled with an insurance company for the carrier that destroyed my 73 during transport from Ft. Lauderdale to NJ

    I am looking to buy a real nice 63 R1 or R2. An original car that has been well maintained and not one that will need $10K to make me happy. So, keep me in mind, I am ready to spend the check before my wife notices the increase in my account.

    Mark

    Tell us how the '73 got destroyed! Sorry to hear it!!

  15. The car of my dreams!

    in 1984-91 Avanti

    Posted

    Unless your engine was changed, and that I doubt it, your vehicle has a GM 305ci V8 with throttle-body fuel injectors, 170hp @ 4400, 250lbs of torque @ 2800, with 9.3 compression. The wheelbase is 109", length 193", width 55", curb weight 3550lbs. Front brakes are 11" with 9.5" rear.

    Front suspension is double wishbone with coil springs and telescopic shocks. Rear suspension is live axle with four links, coil springs, and telescopic shocks.

    Your vehicle features all resin fiberglass body, four speed automatic overdrive transmission (200R4), power windows, power door locks, power outside rear view mirrors, power trunk release, six-way power seats, remote fuel filter door, tilt steering wheel, cruise control, air conditioning (that sucks!), interior light group, full instruments, intermittent wipers, automatic antenna, rear defogger, ground effects, driving lights, burl elmwood dash/console, and 25-gallon fuel tank.

    CONGRATS ON THE TROPHY!!!

  21. Another extension for Mike Kelly

    in Avanti Pub

    Posted · Edited by Ernie

    ENFORCEMENT PROCEEDINGS - Michael E. Kelly, Former South Bend Indiana

    Wednesday, May 14, 2008; Posted: 08:23 PM

    May 14, 2008 (SECURITIES AND EXCHANGE COMMISSION RELEASE/ContentWorks via COMTEX) -- -- The Commission announced today that on May 9, 2008, the United States Attorney's Office for the Northern District of Illinois filed a 14-count criminal information against Michael E. Kelly, a former South Bend, Indiana businessman that the Commission previously charged with securities fraud in a civil action filed in September 2007. The information alleges that Kelly engaged in a fraudulent investment scheme by offering and selling through fraudulent means approximately $34 million in promissory notes and more than $450 million in investments called Universal Leases. The criminal information charges Kelly with 10 counts of mail fraud, two counts of wire fraud and two counts of securities fraud and also seeks the forfeiture of approximately $500 million. Kelly was initially charged in a criminal complaint when he was arrested in December 2006.

    The criminal charges against Kelly are based on the same conduct underlying the SEC's September 5, 2007 civil action filed against Kelly and 25 other defendants. The SEC's complaint alleges that Kelly and the other defendants participated in a massive fraud on U.S. investors that involved the offer and sale of securities in the form of Universal Leases. Universal Lease investments were structured as timeshares in several hotels in Cancun, Mexico, coupled with a pre-arranged rental agreement that promised investors a high, fixed rate of return. The SEC's complaint alleges that from 1999 until 2005, Kelly and others raised at least $428 million through the Universal Lease scheme by making material misstatements and omission to investors throughout the United States.. The SEC's action, which is pending, seeks injunctions against each of the defendants from further violations of the charged provisions of the federal securities laws, disgorgement of ill-gotten gains, and civil penalties. For additional information, see Litigation Release 20267 (Sept. 5, 2007) [sEC v. Michael E. Kelly, et al., Civil Action No. 07-CV-4979 (N.D. Ill.)]. [uSA v. Michael E. Kelly, Case No. 1:06-CR-964 in the United States District Court for the Northern District of Illinois; SEC v. Michael E. Kelly, et al., Case No. 1:07-CV-4979 in the United States District Court for the Northern District of Illinois] (LR-20573)

    ALSO: http://www.sec.gov/litigation/litreleases/2008/lr20573.htm

  22. Another extension for Mike Kelly

    in Avanti Pub

    Posted · Edited by Ernie

    From WSBT, Channel 2 News. The article includes a color picture of MEK standing in front of a large "Avanti" sign:

    Federal authorities filed additional charges against former Avanti owner Michael E. Kelly.

    By Jim Pinkerton

    Story Created: May 9, 2008 at 10:49 PM EDT

    Story Updated: May 10, 2008 at 12:23 PM EDT

    CHICAGO — Federal officials filed new charges against former Avanti owner Michael Kelly in a $500 million fraud scheme. Investigators say he sold bogus time shares.

    They say Kelly swindled thousands of investors across the country, including some from his South Bend office. He was originally arrested in 2006 on 10 counts of mail fraud.

    The charges added Friday were two counts of wire fraud and two counts of securities fraud.

    The Department of Justice says it's one of the largest investment fraud schemes ever filed in Chicago federal court.

    Kelly faces up to 240 years in prison and millions in fines.

    READ THE FEDERAL GOVERNMENT'S NEWS RELEASE BELOW:

    CHICAGO – A former South Bend, Ind., businessman who owned hotel properties in Mexico was charged today with swindling thousands of investors throughout in the United States in a $500 million fraud scheme, federal law enforcement officials announced. The defendant, Michael E. Kelly, and others associated with him allegedly used a significant portion of the funds raised from investors for their own personal benefit, including the purchase of hotels, businesses, homes, boats, automobiles, an airplane, a night club and an interest in a real estate development project in Cancun, Mexico, where Kelly resided for several years before he was arrested in December 2006. The alleged fraud scheme resulted in outstanding losses of more than $300 million to investors. The case is one of the largest investment fraud schemes ever charged in Federal Court in Chicago.

    Kelly, 58, who holds citizenship in the United States, Mexico and Belize, was charged in a 14-count criminal information filed today in U.S. District Court in Chicago, announced Patrick J. Fitzgerald, United States Attorney for the Northern District of Illinois, and Robert D. Grant, Special Agent-in-Charge of the Chicago Office of the Federal Bureau of Investigation. FBI agents in South Bend, Ind., also participated in the investigation. Kelly was initially charged in a criminal complaint when he was arrested on Dec. 22, 2006, in Jacksonville, Fla., after entering the United States from Mexico for what was to have been a brief visit.

    The information charges Kelly with 10 counts of mail fraud, two counts of wire fraud and two counts of securities fraud. It also seeks forfeiture of approximately $500 million. Kelly will be arraigned at a later date in U.S. District Court in Chicago.

    Kelly has remained in federal custody without bond since he was arrested. The time period for filing today’s charges was extended, according to court documents, to allow the government, Kelly and his attorneys time to explore possible resolution of the case, including means for making money and assets located outside the United States available for restitution to the thousands of victims. Those efforts, and the investigation itself, are continuing, officials said.

    The charges allege that beginning in 1998 Kelly defrauded purchasers and prospective purchasers of two types of investments – one, a nine-month promissory note, and the second, a so-called “universal lease.” Kelly was the president and sole shareholder of Yucatan Investment Corp., and Resort Holdings International, Inc., both of which at various times offered and sold either the promissory notes or universal leases.

    Kelly allegedly fraudulently obtained approximately $34 million from the sale of the promissory notes, which guaranteed an annual rate of returns as high as 10.75 percent of the purchase price, and could be renewed for one or multiple terms.

    Through various companies and a network of salesmen, Kelly allegedly fraudulently obtained more than $450 million from the sale of universal leases, which had a 25-year term and purported to relate to particular rooms for particular time periods in particular Mexican hotels operated by Kelly. A lease investor had three options: 1) use the room; 2) rent the room; or 3) allow a purported independent third-party management company, World Phantasy Tours, Inc., doing business as Majesty Travel, Viajes Majesty or, later, Galaxy Properties Management, to rent the room in exchange for guaranteed payments to the investor. Almost all of the lease purchasers chose the third option under which World Phantasy Tours guaranteed investors an annual return as high as 11 percent, regardless of whether the room was actually rented. Kelly and others promoted the investment as carrying little risk by promising to buy back the universal lease at any time at a slight discount and further promising to pay back 100 percent of the purchase price in as little as either two or three years, according to the charges.

    Between 1999 and 2004, Kelly regularly met with salesmen and prospective purchasers to explain the lease terms, often as part of an all expenses paid trip to Cancun. Many of the leases were sold to retirees who found the promised high fixed rates of return, coupled with the reported safety of the buy out (or repurchase) provision, to be an attractive investment. In the offer and sale of both the promissory notes and the leases, Kelly and others allegedly made and caused to be made material misstatements and omissions about the return on investments, the guaranteed nature of the returns, and the liquidity and risks of the investments. Kelly and others concealed from investors that the ability to make promised payments depended on continually raising funds from new investors and using those funds to pay earlier investors, the charges add.

    Anyone who suspects that he or she might be a victim in this case and has not already received a victim survey from the U.S. Attorney’s Office, should submit their name and address to usailn.victim.mk@usdoj.gov . Persons without internet access may call a toll-free number – (866) 364-2621 – and leave a message with the spelling of their name and an address, and a form will be mailed to them within two weeks.

    The government is being represented by Assistant U.S. Attorneys Edward Kohler, Daniel Gillogly and Benjamin Langner.

    If convicted, 10 of the mail and wire fraud counts each carry a maximum penalty of 20 years in prison and a $250,000 fine, while two other mail fraud counts each carry a maximum of 5 years in prison and a $250,000 fine. The two securities fraud counts each carry a maximum penalty of 10 years in prison and a $250,000 fine. As an alternative, the Court may impose a maximum fine equal to twice the loss to any victim or twice the gain to any defendant, whichever is greater. Restitution is mandatory and the Court would determine the appropriate sentence to be imposed under the advisory United States Sentencing Guidelines.

    The public is reminded that an information contains only charges and is not evidence of guilt. The defendant is presumed innocent and is entitled to a fair trial at which the government has the burden of proving guilt beyond a reasonable doubt.

    http://www.wsbt.com/

  24. CREATING A "RETRO"COUPE

    in 1984-91 Avanti

    Posted · Edited by Ernie

    First time I saw the Avanti, I thought the designers had done a great job of making the car look graceful from all angles - except the direct rear view. The rear view still looks awkward to me. It's not nearly as bad as many fastbacks of the 60's, but could be improved. Better width-height ratio, maybe?

    The car, if redesigned, should be a Hardtop instead of a coupe. It should have been a hardtop design from the beginning. It's "roll bar" is just a roof brace which should be eliminatable by proper design. (and of course a hardtop coupe design would be more compatible with the convertible version)

    :( Beauty must be in the eye of the beholder!

    For my tastes, the BEST part of the Avanti design is the rear end - from all angles.

    The front end, stills looks awkward with it's steep design without a grill. (I DON'T want a grill, but the lack of a grill needs a more gradual slope.)

    Not having fender flares keeps the design "fresh," as flares come and go in auto designing.

    Well, that is my 2 cents. No one is right or wrong in this discussion, that's why where are over 1,500 makes and models available in 2008, for the motoring public. We all like/appreciate different styles! :rolleyes:

×
×
  • Create New...