NickHolt Posted March 7, 2003 Report Share Posted March 7, 2003 The March 7, 2003, edition of the Lufkin Daily News (Lufkin Daily News) reports that the city of Nacagdoches "is no longer giving Texas TracGroup the green light for its racetrack project." The Nacogdoches Economic Development Corporation (NEDCO) announced late Thursday that NEDCO “will not be associated with or endorse the project announced last week in Austin by Donald Teague, Michael Primrose and Texas TracGroup, LLC." The article by Robbie Goodrich goes on to report, “We regret that TracGroup is unable to disclose the names of the partners involved or their financial plans,” NEDCO Chairman Mike Aikin said. “Because of this lack of information, NEDCO will not be associated with this project.” Apparently Sealy, Hillsboro and Vernon have not pulled their support at this point according to the story. Read Goodrich's article at Lufkin Daily News Nick Holt Link to comment Share on other sites More sharing options...
daffynmark Posted March 7, 2003 Report Share Posted March 7, 2003 I think that is a shame. There are ways around this. I understand upholding the privacy of investors. But both sides could have agreed to using a moderator or attorney sworn to uphold the privacy of the investors. I just hope they weren't trying to get the deal going with the hopes of attracting investors. That would put a black mark on some of the names associated with the plans to this point. Link to comment Share on other sites More sharing options...
Bandit Posted March 7, 2003 Report Share Posted March 7, 2003 I find it a little disturbing that none of the investors are willing to come forward and publicly support TracGroup. Link to comment Share on other sites More sharing options...
97car Posted March 7, 2003 Report Share Posted March 7, 2003 I agree with bandit,what do the investors have to hide? Lay it all out on the table and be open then maybe support would be forthcoming. I remember a group of investors that were opening a dirt track about 9 years ago in bexar county and we know what happened there. Link to comment Share on other sites More sharing options...
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