Big Spender

We have been getting quite a few emails inquiring about the buyer of the $5 million Shelby Cobra....

The red-hot housing market of the desert southwest made more than a few people filthy rich...we have previously written about the Phoenix/Scottsdale market and also the insider sales made by executives of homebuilding companies as their stocks ramped in 2005 and 2006.

Ron Pratte dropped close to $10 million at the Barrett-Jackson auction Saturday...but don’t worry he can afford it....and he ain’t likely done with one more day left in the auction…

BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)--Jan. 6, 2004--Pulte Homes (PHM - news) announced today that it has entered into a strategic business relationship with Pratte Development Company, Inc., one of the nation’s largest wood framing and concrete foundation companies with extensive operations in Arizona and Nevada. The 50/50 joint venture will provide material and labor for concrete foundations, concrete flatwork, framing and trim for all Pulte houses built in Arizona and Nevada. Pulte expects to deliver between 8,000 and 9,000 homes under its Pulte Homes and Del Webb brands in 2004 across its Phoenix, Tucson and Las Vegas operations. Specific financial terms associated with the transaction were not disclosed. c/net

Hopefully Pratte’s growing automobile collection will someday be accessible to the public...for now you will have to be satisfied with his philanthropic largesse…

06-28-06 TMN Staff / Business Wire: With 2007 Ford Mustangs and Shelby GT500 coupes rolling off the assembly line in the background, Gary Roe, president, AutoAlliance Inc., Ford performance legend Carroll Shelby, and Barrett-Jackson executives Steve Davis and Gary Bennett handed over the keys to the first Shelby GT500 sold to the public to Ron Pratte, the winning bidder in a charity auction last January, on June 23, 2006. Pratte purchased the rights to the car for $648,000 (including buyer’s commissions) during the Barrett-Jackson Collector Car Event in Scottsdale, Ariz., on Jan. 21, 2006. Proceeds from the sale benefited the Carroll Shelby Children’s Foundation. themustangnews.com

Good for him...and congratulations on scoring the Super Snake
----------------------------------------------------------------------------------------------------------------------
12/23/06 Auction Preview

1/1/07 Part Two

-----------------------------------------------------------------------------------------------------------------------
The content contained in this blog represents the opinions of 1440 Wall Street. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely for the entertainment of the reader, and the author. Underthecounter has no positions in any securities mentioned above.

Comments:

<< Back to main