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  • #16
    Bob, I doubt if Mike Kelly will see another birthday cake!!!

    \"QUIGLEY DOWN UNDER\"
    MELBOURNE.

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    • #17
      Isn't there a parable "Let he who is without sin cast the first stone". I'm with Dick Quinn you don't have to like or really understand what he did and why to be sympathetic. Thats between him and God. I'm sure the six years spent in jail have not been a picnic. He is paying with his health, probably little time left on earth, and at least $50,000.000 in restitution which is a hell of alot more than any of these other clowns have paid. The irony which no one seems to understand is that the funding of Avanti probably did more to cause the unraveling of the scheme than any other factor. It was a tremendous cash drain.

      I don't condone what he did but I believe Christians don't condemn without hope of salvation. Thats just my two cents.
      John Hull

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      • #18
        I agree, John. And I think it's good they managed to avoid bringing the Avanti into the article.
        Jim
        Often in error, never in doubt
        http://rabidsnailracing.blogspot.com/

        ____1966 Avanti II RQA 0088_______________1963 Avanti R2 63R3152____________http://rabidsnailracing.blogspot.com/

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        • #19
          Originally posted by candbstudebakers View Post
          I have an 87 in case anyone is interested.
          I bought S/N ---006 new and I see S/N ---009 currently on eBay. What S/N do you have? Which body style?
          Gary L.
          Wappinger, NY

          SDC member since 1968
          Studebaker enthusiast much longer

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          • #20
            Originally posted by studegary View Post

            I bought S/N ---006 new and I see S/N ---009 currently on eBay. What S/N do you have? Which body style?
            Mine is 1406. Boy from a Canadian perspective he would even make Conrad Black blush a little. Conrad was a little less obvious about it though.

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            • #21
              Originally posted by avantibngrant View Post
              Mine is 1406. Boy from a Canadian perspective he would even make Conrad Black blush a little. Conrad was a little less obvious about it though.
              I was asking about the S/N of a 1987 Avanti. 1406 wouldn't be a S/N for any Kelly Avanti.
              Gary L.
              Wappinger, NY

              SDC member since 1968
              Studebaker enthusiast much longer

              Comment


              • #22
                Originally posted by Avantict View Post
                Thats between him and God.
                Not quite John. Tell that to the people who lost their retirement. This guy is total pond scum and an embarrassment to the Avanti name. He stole $428,000,000.00 dollars!!!

                "Kelly and his team managed to raise $428 million between 1999 and 2006 from this sly swindle. According to the SEC over $136 million of the proceeds were from individual retirement accounts. Brokers working the fake timeshares earned commissions totaling $72 million before being caught".
                Last edited by StudeMichael; 12-19-2012, 01:08 PM.

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                • #23
                  Originally posted by StudeMichael View Post
                  <<<Tell that to the people who lost their retirement.>>>
                  My father lost his retirement too ...from the Studebaker Corporation ...that darn Michael Kelly!!!

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                  • #24
                    You can't compare Michael Kelly, a con artist/crminal to the Studebaker Corporation.

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                    • #25
                      Originally posted by StudeMichael View Post
                      You can't compare Michael Kelly, a con artist/crminal to the Studebaker Corporation.
                      Oh really?!?!

                      Obviously ...you have NOT personally read the Studebaker Corporation Board of Directors Meeting minutes for the 6 month period from August 1963 thru January 1964!!!

                      Talk about lying/scheming/con-artists!!! Why do you think those BOARD meeting minutes have NEVER been published??? IFStudebaker Corporation Board of Directors (and their insider co-horts) did back then makes Michael Kelly look like a Saint!!!

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                      • #26
                        Originally posted by Welcome View Post
                        Oh really?!?!

                        Obviously ...you have NOT personally read the Studebaker Corporation Board of Directors Meeting minutes for the 6 month period from August 1963 thru January 1964!!!

                        Talk about lying/scheming/con-artists!!! Why do you think those BOARD meeting minutes have NEVER been published??? IFStudebaker Corporation Board of Directors (and their insider co-horts) did back then makes Michael Kelly look like a Saint!!!
                        Three snags come to mind here for justice:

                        #1: the statute of limitations may be a factor
                        #2: some of the actions pertaining to Studebaker may have simply been unethical, but not 'illegal', per se back in 1964.
                        #3: how many of the players involved are still alive let alone in good health, as in they may be in nursing homes.
                        --------------------------------------

                        Sold my 1962; Studeless at the moment

                        Borrowed Bams50's sigline here:

                        "Do they all not, by mere virtue of having survived as relics of a bygone era, amass a level of respect perhaps not accorded to them when they were new?"

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                        • #27
                          Originally posted by Welcome View Post
                          My father lost his retirement too ...from the Studebaker Corporation ...that darn Michael Kelly!!!
                          I have been under the impression that every Studebaker employee that was vested in the retirement plan received a pension when it was their time. Was your father a short time /not vested employee? If so, he did not lose something that was not yet his. If he died prior to the normal start of his pension, he would also not receive anything.
                          Gary L.
                          Wappinger, NY

                          SDC member since 1968
                          Studebaker enthusiast much longer

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                          • #28
                            One of the reasons for the enactment of ERISA was the Studebaker shutdown.

                            http://papers.ssrn.com/sol3/papers.c...ract_id=290812

                            And E.T. Reynolds in his biography stated the pension plan wasn't instuted until 1950, and would have been fully funded by 1980.

                            Craig
                            Last edited by 8E45E; 12-20-2012, 09:30 PM.

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                            • #29
                              Originally posted by 8E45E View Post
                              One of the reasons for the enactment of ERISA was the Studebaker shutdown.

                              http://papers.ssrn.com/sol3/papers.c...ract_id=290812

                              And E.T. Reynolds in his biography stated the pension plan wasn't instuted until 1950, and would have been fully funded by 1980.

                              Craig
                              I am aware of this.
                              In the recent past, I have had ex-Studebaker employees tell me that they were still receiving a (small) pension check. I do not know the cut off conditions. I know that you had to be fully vested and maybe it was applied in a different manner for hourly/union employees and for salary/non-union employees.
                              Gary L.
                              Wappinger, NY

                              SDC member since 1968
                              Studebaker enthusiast much longer

                              Comment


                              • #30
                                Originally posted by studegary View Post
                                I do not know the cut off conditions. I know that you had to be fully vested and maybe it was applied in a different manner for hourly/union employees and for salary/non-union employees.
                                If you download and read that link, it explains on pages 730/731 who was, and who was not eligible.

                                Craig

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