When it comes to bad ideas, some still swear Clinton is holy. All I will say
is Good luck in your endeavors.
Scott
64 Herald 1200 CV which is happy here.
----- Original Message -----
From: "dayton carpenter" <djcarpen@hotmail.com>
To: <jmcneal@ohms.com>; <spitfires@autox.team.net>
Sent: Tuesday, February 27, 2001 5:11 AM
Subject: Re: Response to Classic Car Restoration factory in China-questions
>
> 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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