Thank you for your input. I had asked all to reply to me off the list.
First as to quality issues:
Anybody that has seen my work knows that I cannot cobble my cars together.
I probably have one of the best Spitfires in the country. It is also
displayed in the newspaper across New York State. Anybody that has seen the
car knows this. One the best restoration shops in New York, which
ironically specializes in English cars, has trained me.
If you do the bodywork yourself and he paints the car he make you sign a
waiver stating that you will tell others that he painted it. This is type
of reputation he works on. He did a stock spitfire frame off restoration.
The car had a new shell the last one that the RTF had years ago. The frame
was solid so no major sheet metal replacement was needed. The restoration
cost over $12,000 and that did not include the mechanicals.
After completing my frame off project my friend painted my car and actually
asks for me to bring to his shop when I am in USA for his customers to see.
This does not take into account the 5,000 hours of modifications to my
driveline and frame to fit the Chevy 4.3L V-6 in the Spitfire. I will put
my car up to anybody!/s on this list whether in performance or appearance.
My car in large car shows still always places first or second.
My object here in China is to sell to exclusive market basically large
company owners, and not the average person here. China laws strictly
controls the importation of cars. The duties on imported cars range from
125-to over 200%. Cars will have to pass safety inspections and emissions,
yes emissions. Lucky before become an attorney I worked as an Environmental
Engineer. I plan to use the state of the art technology in my factory, as
most shops here don!/t treat the paint emissions. I plan to help the
government here implement their environmental plans thus helping US
businesses do business here China.
As for tax issues I know the law on this, as I am an International Attorney
specializing in trade and business in China, Hong Kong, Singapore, Taiwan,
and Thailand. There is no need to explain the law to members on the list.
AS FOR depleting or driving up the cost of classic cars this is
unsubstantiated. From the early 1980s to 1990 the Japanese bought a great
deal of US cars and shipped them to Japan. This did not have any noticeable
effect on the car market in the US.
Furthermore what the US has always stood for, as Jeff stated, is a Free
Market Economy (FME). My buying cars are based on this principal. If
people don!/t want to sell their car to me they simply wont this FME
business basics. But I know they will because the US is a FME.
Also next time look at where your rubber and plastic parts are made for your
Spitfire. Most are made in Taiwan, which now is moving most of these
operations in China. So my plan includes making aftermarket parts here. I
have already selected a management team so quality can be properly
controlled.
Again thanks for you comments.
Any additional comments please send to me off the list. We need to be
respectful of the other list members.
Dayton J. Carpenter, Esq.
----------------------------------------------------------------------------------
Mr. Carpenter
Unlike Mr. Roberts, I think your plan is excellent. A question though, What
sort of tax rates are in China? Would the company be Incorporated? In China
or the US? If in the US, depending on tax rate differentials, a corp. office
with in the US could do purchasing here and through transfer pricing could
shelter the company from certain taxes, thus creating a greater after tax
income for the company resulting in higher retained earnings and income for
the investor(s). I currently work as the Director of Internal Audit for
First Supply Group, Inc. in Madison, WI (a job I regrettingly accepted in
March 2000, they are having some serious insolvency problems). I would like
to here more about your plan, proposed operation sights, and expected labor
pool (You can't expect to do all of the work your self). Are there are
qualified persons in China that you would employ to do the work or would
they be transplants from the US?
Just a few thoughts for you.
>From: "Jeff McNeal" To: "dayton carpenter" , Subject: Re: Classic Car
>Restoration factory in China Date: Mon, 26 Feb 2001 07:14:42 -0800
>
>Dayton,
>
>Good luck on your quest to become "Capitolist of the Year" in Communist Red
>China. I agree with Scott Roberts. I would be opposed to any "business
>plan" that would take more classic cars out of circulation in the free
>world for the sole purpose of lining your pockets with a grossly inflated
>profit margin!
>
>Who would be gaining something from this scheme other than you and the
>Chinese government? Would you still be liable to pay U.S. income taxes on
>this windfall?
>
>Best wishes,
>
>Jeff in San Diego
>
>'67 RHD Spitfire Mk3 aka "Mrs. Jones" '68 LHD Spitfire Mk3 frame-off resto
>project Jeff's Classic '67 Spitfire Mk3 site & Vintage Spitfire Webring
>http://www.ohms.com/spitfire/spitfire.shtml home of the NEW Totally Triumph
>Auction "By Triumph enthusiasts, for Triumph enthusiasts"
>http://www.ohms.com/cgi-bin/TRauction.cgi and..The Totally Triumph Garage
>forums -- moderated, focused, friendly!
>http://www.ohms.com/cgi-bin/dcforum/dcboard.cgi ...plus a few other
>surprises!
>
>* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
>
>----- Original Message ----- From: "dayton carpenter" To: Sent: Monday,
>February 26, 2001 7:54 AM Subject: Re: Classic Car Restoration factory in
>China
>
>
> > > I have been putting together a business plan and scheduling meetings
>with > the Chinese gov't for the importation/sell of antique/classic
>american cars > and of course English cars that are Left side drive. The
>figures (confirmed > by my contacts here in Ford and Buick) in China
>indicate that 650,000 > passenger cars are sold a year and that of that
>figure 3% are thinking about > being a classic car. That is about 25,000
>classic cars a year. I have done > the math and figure that I can make a
>minimum profit of between 7-10,000 per > car. Even if I only sell 25 year,
>that is $250,000. Estimated number of > sales during the second year are
>about 200-500 which equals US$2-5 million. > > According to my figure to
>set up everything I will cost me about > $400-500,000 to up a state of the
>art factory here. > > I am also working to get GM of Shanghai, and Ford in
>China involved, in > addition to 3M, PPG, NAPPA, Delphi, and other US
>companies involved in the > auto business/supplies or parts here in China.
>Yes there is a NAPPA store in > Beijing China > > There are 6 different
>business that will revolve around the core business > with other to follow
>shortly > > Repair then sell the classic cars > Repair shop for later
>repairs to the cars > Manufacturing of aftermarket parts including leather
>interiors > Rental cars for special occassion such as marriage. > Rental of
>car for advertising > Representing US automotive manufactures here that are
>involved in supplying > automotive repair equipment > Provide finder
>service for special cars that clients seek from the US > > > Well enough I
>could on all day about this plan. This is the initial reason > why I came
>to China. I have spent last two years of life and forgave my > high salary
>as a US attorney to set this plan into motion. > > I am meeting with the
>Shanghai goverment next week to work out some details. > > If anybody is
>truely interested in this project contact me off the list. I > plan on
>being back in the US next month. > > > Dayton J Carpenter, Esq, > > > > > >
>_________________________________________________________________ >
>
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