- 4 -
in performance automobiles and, apparently, speed. At first,
petitioner maintained a separate checking account and credit card
account for Turtle Performance; however, by the years in issue,
expenditures attributable to Turtle Performance were paid from or
charged to petitioners’ personal accounts.
During the years in issue, a typical open-road race event
required an entry fee of $600 (more or less), but there were no
cash prizes for the class winners. Entrants apparently competed
for trophies and “bragging rights”. Eventually, petitioner
founded the National Open Road Race Association (NORRA) to
publicize the sport.
Steeda Autosports (Steeda) is one of several nationally
known after-market performance tuners of Ford automobiles.
Steeda is located in Pompano Beach, Florida, and offers its
products and services to the general public. In November 1992,
in what is described as an “uncharacteristic surge of
spontaneity”,3 petitioner ordered a 1993 Mustang Cobra from a
Ford dealer, but had the car shipped directly from Ford’s
Dearborn assembly plant to Steeda. Petitioner intended to
compete in open-road racing with this car and to this end
directed that Steeda make certain modifications to the stock
Mustang. The modifications were made and sometime during 1993
3 See id.
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011