Posts Tagged ‘News’

Muscle Car Parts Mainstay The Paddock Facing Auction Block

Friday, May 28th, 2010

Warehouse and Showroom Items to be Auctioned at Company’s Knightstown, IN facility on July 29. Sealed Bids Being Accepted for Company’s Intellectual Property.

Avon, IN (PRWEB) May 22, 2010 — The down economy has claimed another victim—The Paddock, a mainstay in the muscle car parts business for over 40 years. Indianapolis-based Key Auctioneers ( announced today that it will auction the company’s parts inventory, showroom items, collectibles, vehicles, and equipment at the company’s 60,000-square-foot Knightstown facility.

The Paddocks Knightstown headquarters.
The Paddocks Knightstown headquarters.

The July 29 auction is expected to draw thousands of muscle car enthusiasts from the Midwest and beyond.

The Paddock has been a leading supplier of muscle car parts for several decades. Its thirteen parts lines represent some of America’s most popular muscle cars, including Mustang, Corvette, GTO, and Camaro.

Company founder Jim O’Neil started The Paddock in 1965, restoring muscle cars in a small shop in Knightstown. By 1979, the company was manufacturing Mustang steel patch panels. The company’s first Mustang catalog was printed soon thereafter and the company started to grow by word of mouth. In 1980, the first Camaro catalog was printed. In 1998, Wes Watts, a former parts manager for the local Chevrolet dealership, purchased the company from O’Neil.

Over the years the company added Firebird, GTO, Chevelle, Nova, Cutlass, Impala and other catalogs to its muscle car line. In 2001, Watts built a state-of-the art 60,000-square-foot facility to accommodate his growing business.

According the Watts, the economic downturn of the last three years, along with the credit crisis, contributed to the company’s demise.

Key Auctioneers Senior Vice President Tim Boeglin said the company’s intellectual property was garnering a high degree of interest. Included in the intellectual property are the company’s name and trademarks, million-name customer list, websites, catalogs, and phone numbers.

About Key Auctioneers

Key Auctioneers is an Indianapolis-based auctioneer of commercial, industrial, and real estate assets in Indiana, Kentucky, Ohio, Illinois, Michigan, and Missouri. The company’s automotives division has auctioned several Indy racing teams, including MoNunn Racing, Panther Racing, and Guthrie Meyer Racing.

For more information about Key Auctioneers, contact Tim Boeglin or (812) 327-5352.


Bush Signs Automobile Fatality Act

Saturday, December 22nd, 2007

This is an Ayn Rand Institute Press Release dated December 21, 2007

Irvine, CA–The energy bill that President Bush just signed into law
is a significant victory for environmentalists, who have long pushed
for such measures as expanded ethanol production. But the centerpiece
of the bill–for which environmentalists have been agitating for
years–is a major increase in automobile fuel economy standards, the
first such increase since 1975.

The law forces auto manufacturers to increase the average mileage of
cars, SUVs, and light trucks to 35 mpg by 2020. Currently, the
standard is 27.5 mpg for cars and 22.2 mpg for SUVs and light trucks.

It might seem obviously beneficial to decree that cars must use less
fuel. But according to Dr. Keith Lockitch, resident fellow at the Ayn
Rand Institute, “The new mileage standards will make cars more
expensive and more dangerous and will cause many more traffic

“Compelling automakers to achieve higher mileage forces them to
compromise automobile safety. To achieve fuel economy, they are forced
to make vehicles lighter and smaller. But lighter, smaller vehicles
are much more dangerous in an accident. Because the car absorbs less
of the crash impact, the passengers absorb it instead.

“The original Corporate Average Fuel Economy (CAFE) standards, imposed
in 1975, have already led to a substantial increase in traffic
fatalities–an additional two thousand traffic deaths per year,
according to a 2002 study by the National Academy of Sciences. With
the new standard, manufacturers will be forced to downsize even
further all cars, as well as SUVs and light trucks. But these vehicles
will still be sharing the road with buses, delivery trucks, and
massive commercial trailer trucks. One shudders at the thought of how
much greater a risk Americans will face. Nevertheless,
environmentalists have continued to fight for higher fuel economy
requirements, consistently and cavalierly dismissing the risks and the
tragic consequences.

“Despite the drumbeat of constant assertions to the contrary, it is
far from a settled scientific fact that we face catastrophic dangers
from climate change. Yet, under the guise of protecting us from the
alleged dangers of global warming, environmentalists force upon us the
very real, provable dangers of increased auto injuries and deaths.
Clearly, what they value is something other than human well-being.”

Copyright (c) 2007 Ayn Rand(R) Institute. All rights reserved.