Comments on: New 65,000 seat, 1 mile oval announced for Ontario

By: NASCAR Type Facility Proposed for Ontario

NASCAR Type Facility Proposed for Ontario — Tue, 01 Dec 2009 22:59:54 +0000

[...] The illustrious blogger, and Canadian, Gary Grant (no relation to Cary but he may wish for that) has an update to this [...]

By: Geeza

Geeza — Sun, 14 Dec 2008 15:17:38 +0000

I believe it took you 5 minutes to do the research, because what you have stated is utter BS.

Bayt Al-Mal strictly translated means ‘House of money’, but is actually a term used in Islamic Countries meaning ‘financial institution’ or ‘treasury’ or ‘central bank’.

What you have done is link the Hizbollah’s ‘treasury’ with a Kuwaiti ‘financial institution’ because they both use the terms ‘Bayt Al-Mal’.

You might as well claim that the worlds central banks are linked to terrorism as Iran too has a ‘Central’ bank.

Leave the due-diligence to the experts buddy.

By: Longbow

Longbow — Thu, 16 Oct 2008 23:28:07 +0000

If the municipality and the Ontario Gov’t are going to get involved in something this big let’s do it right the first time.. the OMB should have known or out to have investigated .. done their due diligence in order to ensure that the source of the funds for this size of investment does not come from questionable or illegal sources. I believe Hezbollah is still identified as a terrorist organization in Canada. NASCAR always has been concerned and would be concerned as to who their brand is associated with..I don’t pretend to speak for them but.. nuff said. Do your own research.. took me 5 minutes to find the source.

By: Gary Grant

Gary Grant — Thu, 16 Oct 2008 21:39:15 +0000

Hmmm….

Imagine that….bad politics, money and racing. Who woulda thought?

By: Longbow

Longbow — Thu, 16 Oct 2008 21:35:07 +0000

Well did they check to see the source of the funds before allowing the investment.. one reason NASCAR may not want anything to do with it:
Bayt al-Mal, AKA Bayt al-Mal Lil Muslimeen, is a Hezbollah-controlled organization that performs financial services for the organization. In Arabic, the term is used as “House of Money.”
Bayt al-Mal operates under the direct supervision of Hezbollah Secretary General Hasan Nasrallah. As Hezbollah’s main financial body, Bayt al-Mal serves as a bank, creditor, and investment arm for Hezbollah. Husayn al-Shami is the head of Bayt al-Mal.
It has branch offices in: Harat Hurayk, Beirut, Lebanon; Burj Al-Barajinah, Lebanon; Sidon, Lebanon; Tyre, Lebanon; Al-Nabatiyah, Lebanon; Ba’albak, Lebanon; and Hirmil, Lebanon.
Bayt al-Mal utilizes the Yousser Company for Finance and Investment to secure loans and finance business deals for Hezbollah companies.
According to Mr. Stuart Levey, U.S. Department of Treasury’s Under Secretary for Terrorism and Financial Intelligence (TFI),”Bayt al-Mal functions as Hezbollah’s unofficial treasury, holding and investing its assets and serving as intermediaries between the terrorist group and mainstream banks.”
The central headquarters of Bayt al-Mal was located in Hezbollah’s stronghold in Beirut’s southern suburbs.

By: Gary Grant

Gary Grant — Thu, 16 Oct 2008 10:31:23 +0000

Doh!

I guess I should read your feed more closely huh?

By: marc

marc — Thu, 16 Oct 2008 03:09:48 +0000

Thanks for the email heads-up Gary, but alas… you’re um let me count…. five days late and a dollar short.

Although I will admit my story didn’t include the latest announcement of who exactly was the Middle Eastern partners.

By: Leighton Irwin

Leighton Irwin — Thu, 16 Oct 2008 02:07:37 +0000

It does look like a go but you can be sure the Nimbys will pop up and probably go to the OMB which will inevitabtely delay things although with the Provincial Govt. in favour it may get fast tracked. The Niagara regon has been hard hit with plant closures (John Deere and GM and others). The fruit industry has been hard hit with foreign comp., although the wine industry has been doing well.
I cannot see a 2 1/2 mile road course within the confines of a 1 mile oval. I feel they will have to go outside of the oval. It will also be flat, except for the oval banking. and I have never seen the concept really work and that includes Daytona and Indy where they have 2 1/2 mile ovals.