Based on the latest SEC filings, Jonathan Vannini, a California entrepreneur and Barber Dodge driver, is now CART's third largest individual shareholder with a 7.83% share of ownership.
Vannini today filed an SEC Schedule 13d (Ownership Statement), indicating that he had acquired the following CART shares in the last 30 days: <pre> 2001-10-17 59,900 2001-10-18 6,600 2001-10-19 13,400 2001-10-22 100,000 2001-10-24 36,500 2001-10-25 223,300 2001-10-26 10,300 </pre> Gerry Forsythe, owner of the Forsythe Racing CART team, owns some 2.1 million shares, new board of directors member, James Grosfeld owns 1.5 million shares, while Kern Capital Management LLC owns 1.35 million shares.
Based on Vannini's comments, he has put $15M of his personal funds into CART stock because he sees an opportunity to change what obviously is not working into something that can work.
Vannini wants to save CART by making major changes in the organization, which could entail changes in "senior management, including, but not limited to, the appointment of a chief executive officer and president."
Vannini also would have CART re-evaluate of some of its policies, and force a major change in its Board of Directors.