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sports cars. Unlike stock cars and sports cars, open-wheeled
cars cannot be driven on public roads.
Since 1989, Mr. Ciaravella has owned an open-wheeled race
car, which he drives five or six times a year in races on a
national circuit sponsored by Merrill Lynch and Rolex. No prize
money is awarded, only points to determine an overall winner at
the end of the racing season. Mr. Ciaravella usually finishes in
the top 5 of a 30-car field. Mr. Ciaravella thought that racing
cars would help him build a dashing, gallant image that would
allow him to meet and ingratiate himself with people interested
in buying and leasing high performance aircraft, such as
Learjets, that he would be marketing. The market for used
aircraft is nationwide, and Mr. Ciaravella believes that racing
open-wheeled cars on a national circuit has given him and Dolphin
national exposure to potential customers.
During the years at issue, Mr. Ciaravella's race car bore a
number of logos. Most conspicuous was the Dolphin logo, which
appeared in large letters on the sides of the car, along with his
own name "Ron Ciaravella" in smaller letters. At a typical race,
Mr. Ciaravella's name and the Dolphin name were announced when
the race car entered the track. On the weekend of the race,
people would gather in the paddock areas, adjacent to the track,
to look over the cars and talk with the drivers. These races
attract a rather upscale crowd, many of whom have an interest in
flying. Mr. Ciaravella has met a number of celebrities and other
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Last modified: May 25, 2011