Carroll Shelby's charity
- Thread starter eci
- Start date
Doesn’t surprise me one bit. Seems everyone’s full of crap these days…
I think you just may be surprised how many charities are run this way!:bored:
Not saying that's good. Just stating a fact!
Not saying that's good. Just stating a fact!
ouch
did everyone read the whole thing? its not that he took the money and spent it on his personal wants and needs, he just never did anything with it. glad they're changing it around and getting it going in the right direction though.
I read the whole article and find peculiar the fact that the officers of the charity were Shelby, his wife, his attorney and very few funds ever made it out of their possession.
I suppose the moneys have not been stored for safe keeping in Carroll Shelby's residence, my guess would be a stable financial institution which can make money.
Earnings on bank CDs can account to a conservative 5% annual rate of interest. The grants have accounted for 1% of the total donations seems kind of low considering it is a ballpark 20% of the potential interest earnings without ever touching the principle.
Shelby better hope the digging stops real soon.
I suppose the moneys have not been stored for safe keeping in Carroll Shelby's residence, my guess would be a stable financial institution which can make money.
Earnings on bank CDs can account to a conservative 5% annual rate of interest. The grants have accounted for 1% of the total donations seems kind of low considering it is a ballpark 20% of the potential interest earnings without ever touching the principle.
Shelby better hope the digging stops real soon.
ac427cobra said:
Exactly, this is very common. I laugh at people that donate money to charities thinking that all of their money is going for a good cause. It should be illegal, even at 5% which is the legal minimum is crap, it should be at least 50%. It is sad at the same time because I know many people that don't have much money and donate a lot thinking it is going to a good cause and it is really just paying for some guys pad in Malibu.
And you are surprised by this?
Shelby will put his name or sig on anything to make a buck! Been doing it for years.
Shelby will put his name or sig on anything to make a buck! Been doing it for years.
eci said:But some people hold Carroll on a pedestal
Thats only so they can look up his dress!!!
Typical everyone quick to judge before getting the full story heres a link to the other side of the story. http://www.blueovalnews.com/index.php?categoryid=12&p2_articleid=568 before you judge get the whole story. Todays press is so one sided and so full of half truths, yet us Americans take it as gospel if its in print.
so what is the better way to run a charity?
take in 1 million dollars and give it all away?
take in 1 million dollars park it in an safe investment, and give away 80% of the interest earned. this way the principle will steadily increase, as will the donations each year?:idea:
take in 1 million dollars and give it all away?
take in 1 million dollars park it in an safe investment, and give away 80% of the interest earned. this way the principle will steadily increase, as will the donations each year?:idea:
ON D BIT said:
What a great idea!
That makes perfect sense, exactly what Carroll Shelby has done. Safe the money while people die who perhaps could have been saved. Excellent logic.
Carroll Shelby and his representative have bragged about the foundation and its good deeds on many occasions. Looks like they are not bragging now.
no big surprise to me, havent we seen this kind of bull before with other charities
COBRA32 said:
So true! Its as if people WANT to believe the worst!
Here's another link (may be a dupe of BON):
http://www.stangsunleashed.com/index.php?categoryid=12&p2_articleid=195
http://www.stangsunleashed.com/index.php?categoryid=12&p2_articleid=195
The flip side is Shelby fans want to believe the best. Unfortunately for his loyal following and all those who have contributed to the foundation, figures don't lie and they were certainly not refuted in the excuse filled Carroll Shelby's response or by his representatives in charge of damage control.blueovalkid said:
Any bad publicity Carroll Shelby has received through the years he has brought on to himself.
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