The banking of the US$18M signing bonus: Is it really an Escrow Account?

first_img– the inexcusability of the series of contradictory excuses in its justification attemptsThe issue of the Government of Guyana receiving a ‘Signing Bonus’ from the multnational oil company operating offshore Guyana was first brought to light by one of Guyana’s most prominent financial analysts. As this revelation was made, the press did not hesitate to grill two of the key ministers of Government responsible for the emerging oil and gas sector.To that end, the respective ministers denied knowledge of such in the first instance, to the extent that one of the ministers, when the matter became exposed publicly, attempted to engage in something called ‘playing with words’ in his response. Then, as it became exposed, it was said that it was not disclosed because of the purpose for which it was intended to be used; that is, for national security reasons.The Head of State himself stated that all the ministers were not aware of the transaction, but the Minister of Foreign Affairs subsequently revealed in his budget presentation that the entire cabinet knew of the signing bonus.All of these positions are, of course, contradictory positions in the truest sense of the word, and this matter is undoubtedly the most highly embarrassing predicament which the Government has encountered — or any Government, for that matter — in the history of Guyanese politics.The manner in which these events unfolded is a clear indicator of grave concern with respect to the internal governance structure of the current Administration. Clearly, there was a breakdown — and to a larger extent mismatch — in communication at the Cabinet level; and some very unintelligent responses were proffered on the matter.With regard to the legality of the process in which the transaction was handled, first of all, the evidence revealed that the Government was in receipt of this fund since September/October, 2016. This means that the accounts for the Government and both National Budget estimates for 2017 and 2018 were understated by US$18 million, since this sum did not form part of the estimates. And therefore this in itself is a gross error on the part of the Government. The act could also be interpreted as being illegal from a fiscal management standpoint. It is worthwhile to note that there is no evidence of anything of this sort that had ever occurred in the history of Guyana’s political economy and fiscal management practices.The Government should have at least informed the National Assembly of the receipt of this fund, in keeping with the constitutional requirements of transactions of this nature, and also in the interest of fiscal transparency. Obviously, this was an unfortunate and miserable failure on the part of the Government. The Head of State, along with the Minister of Finance, nonetheless contended that the funds are kept in an escrow account with the Bank of Guyana. But is this really so? Is the account in which the funds are held an escrow account? The answer is an outright no.An escrow account consists of funds held by a third party; who collects, holds and disburses the funds pursuant to a contract or an obligation between two parties. For example, an escrow account for a home mortgage is held by the organisation that services the mortgage. The funds are paid into the escrow account by the borrower, and are disbursed by the servicer to pay local real estate taxes, hazard insurance premiums, and mortgage insurance. Payments to the escrow account are made by the borrower to the servicer, along with the monthly debt service payments, and the servicer makes timely disbursements of the funds to tax collection agencies etc.In the case of the US$18 million signing bonus, first of all, it is an established fact that there was no reference to any contract or arrangement with regard to the funds being, presumably, held in an escrow account. Dissecting this situation, the leaked letter to the Central Bank which is in the public’s domain, the subject with which it was addressed did not explicitly state that the Ministry of Finance wishes to open an ‘escrow account’. In fact, the letter merely stated as the subject, “Signing Bonus Granted by ExxonMobil – Request to open Bank Account.” So it should be emphasized that nowhere was a request made to the Central Bank officials to open an escrow account, which is in fact a special account.Secondly, the letter of instruction stated thus, “This account should not be treated as part of the bank’s reserves. Instead, the proceeds should be held in the currency of the deposit, that is, United States dollars, and invested in secured-interest bearing securities.”Henceforth, the fact that the Government declared to the public that the signing bonus is for the payment of legal fees for the Guyana/Venezuela border issue is in contradiction to the instructions contained in the letter with regard to the operations and use of the funds. It is against these backgrounds that the Government egregiously misled the public — as it is not an escrow account. There is absolutely not a single feature on the entire matter to validate the claim that it is an escrow account. This is thus a serious adverse political matter – something is most certainly amiss.*The author is the holder of a MSc. Degree in Business Management, with concentration in Global Finance, Financial Markets, institutions & Banking from a UK university of international standing.last_img read more

Read More »

EBD supermarket robbed twice in 3 weeks

first_imgAn East Bank Demerara businessman is contemplating permanently closing his supermarket after bandits hit the business a second time three weeks.Sometime around 19:35h on Wednesday, three gunmen, two of whom wore masks, executed a daring robbery at the Freshmart Supermarket located on the Covent Garden Public Road, EBD, escaping with over $1 million in cash and valuables from staff and customers.Freshmart Supermarket in Covent Garden, EBDGuyana Times understands that the businessman had just arrived at the location to balance the cash while two staff were attending to the remaining customers when the three bandits stormed the premises brandishing guns and issuing threats.They forced the occupants to lie face down on the floor as they proceeded to relieved them of their valuables including jewellery, phones and cash.According to the owner of Freshmart Supermarket, who requested that his name not be published, the trio was able to steal over $1 million in cash and valuables from both the business and customers at the time of the robbery.This newspaper understands that the robbery was captured on the surveillance cameras, from which the third unmasked perpetrator can clearly be identified. It was reported that the bandits escaped in a waiting car which was parked directly in front of the supermarket. However, the cameras could not clearly pick up the vehicle’s colour or model.The businessman further related that three weeks prior to this incident, his supermarket was robbed and although the security cameras managed to record the culprit, the Police are yet to make an arrest.The man explained that at the time of the first robbery, he was not pleased with the professionalism display by ranks at the Providence Police Station and this time round, he is far from satisfied with the pace of the investigation.Following these two recent attacks on Freshmart Supermarket, the businessman said that it has been closed for an indefinite period.“I do not know when or if I am going to re-open my business due to the crime situation and the way in which Police deal with such matters. The Police need to do more and act more rather than offer lip service. The previous matter although it wasn’t such a big robbery, the Police didn’t do what they were supposed to, they didn’t even want to listen to me, really,” the businessman posited.Meanwhile, the businessman is offering a reward of $1 million to anyone with information that would lead to the arrest of the three gunmen who robbed his supermarket two nights ago.“I have lost a lot of money…is more than one time now I get robbed and I think it is the same people carrying out the robberies…so I am offering this reward not to do the Police’s work but to help them do the work faster,” he stated.last_img read more

Read More »

Education Department honours Region 2 NGSA top performers

first_img…records 5% increase in performanceEighty students from various primary schools in Region Two (Pomeroon- Supenaam), who excelled at the 2017 National Grade Six Assessment (NGSA), were gifted bags, compliments of the Region’s Education Department.This was done at a ceremony held on Wednesday at the Cotton Field Secondary School.District Regional Education Officer for Primary Schools, Deodat Singh, commended the efforts of the Head Teachers and teachers from the various schools — for their hard work and efforts. He said that, compared to previous years, Region Two achieved a five per cent increase in pass rates, and he credited this success to the monitors of the Mathematics literacy programme. He said those monitors had done an excellent job, and some of the schools in Pomeroon riverine communities were able to achieve the status of becoming A list schools.He said that last year only 28 per cent of the schools had attained being classified ‘A’ list schools, but that figure has this year increased to 32. Those children who did not attain 350 marks at the sitting of the examinations will still enter list ‘C’ secondary schools, but would be placed in transition classes — where pupils will be doing the NGSA curriculum.In Region Two, 130 students from various primary schools will be placed in transition classes.Singh also explained that primary schools in the communities with lakes and creeks, and those in the Pomeroon and Supenaam rivers had recorded significantly improved performances.Regional Education Officer Bharamdai Seepersaud called upon parents to spend more time with their children. Seepersaud told the students that as they move on to secondary education, they should focus on striving for excellence as well as to participate in all co-curricula activities planned by the schools.At the end of the simple programme, bags were given to the children, and special gifts were given to those who had qualified to attend secondary schools in Georgetown. (Indrawattie Natram)last_img read more

Read More »

Chairman Muthee abandons sinking KRU ship

first_img0Shares0000NAIROBI, December 17- The week of turmoil and divisions at Kenya Rugby Union (KRU) claimed its biggest victim when Chairman Mwangi Muthee abruptly announced his resignation from his post with immediate effect on Wednesday. 0Shares0000(Visited 3 times, 1 visits today) Muthee cut short his second term at the helm of the governing body months short of next year’s elections in March plunging KRU into deeper crisis citing claims of corruption, unscrupulous procurement deals, inflated expenses and insulting language among unnamed members of the Board.It follows a dramatic five days at the union that started last Friday when Kenya 7s boss, Paul Treu quit his post after last weekend’s Nelson Mandela Bay 7s where the country lost the Bowl final to Canada to harness seven points in the third leg of the HSBC World Series to remain rooted on 14th with 11.Two KRU directors, Godwin Karuga, credited with putting together the side and organisation of the flag ship Safaricom 7s and Maurice Masiga followed suit before assistant head coach, Felix ‘Toti’ Ochieng was appointed Treu’s successor late Tuesday after the beleaguered governing body held an extraordinary meeting.“Yes, I have, it’s true,” Muthee confirmed to Capital Sport saying he was in a meeting.In a statement on his decision, the outgoing boss said in part, “With immediate effect, I have resigned as the Chairman of Kenya Rugby Union.“My efforts went to developing the game towards a world class status as well as its expansion throughout the country. The events of recent past however, compel me to vacate the position because I feel my agenda of driving the game further was being derailed. Most of all, in my opinion, some of the Board members’ integrity was not beyond reproach, threatening to bring the game into disrepute.”The administrator who expressed his pride and satisfaction of what he has achieved in close to four years at the helm added;“In my first two years, there was remarkable pulling together towards one goal by the Board and it was the time when our game took tremendous strides, including massive support by sponsors and epic performances, especially by Kenya 7s that reached the semi finals of the Rugby Sevens World Cup and finished fifth at the HSBC World Series.“After midterm elections, things were never the same. This culminated in this year’s serious questions by sponsors about some of the Board members involvement of in grave issues of conflict of interest in supplying kit to KRU and fraternity, questionable procurement of airline tickets worth tens of millions shillings, questionable hotel accommodation contracts, many inflated bills, cases of unbecoming language and downright insulting language directed at senior management and some of our sponsors.”The writing was on the wall for Muthee on Friday when Treu, one of his pet projects was forced out of Kenya 7s amid allegations had become untenable due to in-fighting at KRU as well as strained relations with Board members who undermined his authority and scuttled his work.With Karuga and Masiga, said to be among the ‘good’ crop of directors also walking the plank on Monday, captain Muthee felt he had no other choice but to abandon the sinking ship with an explosive audit of kit deals, procurement practises, expensive claims, airline tickets and unsavoury language being conducted that will plunge the union further depths.“Be informed that your instant exercise is neither authorized nor sanctioned by the Board, As such, you are kindly requested to cease. On addition, the Union will not bear any financial obligations arising out of this exercise,” KRU secretary, Eddie Omondi wrote in an attempt to stop the ongoing scrutiny sanctioned by Muthee and his faction of directors.last_img read more

Read More »

Zidane plans to limit Ronaldo’s minutes

first_img0Shares0000Real Madrid’s Cristiano Ronaldo (left) and Zinedine Zidane celebrate after the Champions League final over Atletico Madrid in May 2016 © AFP/File / Gerard JulienMADRID, Spain, Jan 6 – Real Madrid boss Zinedine Zidane insists he will continue to periodically leave out four-time world player of the year Cristiano Ronaldo to keep the Portuguese fresh for the business end of the season.Ronaldo has sat out Real’s last two home games — missing the visit of Deportivo la Coruna in December and a 3-0 Copa del Rey romp over Sevilla on Wednesday. Zidane confirmed in midweek that Ronaldo will return for lowly Granada’s visit to the Santiago Bernabeu on Saturday.However, with Real potentially facing a marathon streak of 20 games across three competitions in the next three months, Zidane said Ronaldo will have to accept being left on the sidelines from time to time.“Cristiano is a very intelligent player,” said Zidane on Friday.“My idea is that I want Cristiano to be in good condition throughout the season. Having 20 games in 70 days, sometimes he will have to rest.“There is no problem. He always wants to play, but talking is how you achieve things.”Zidane admitted towards the end of last season that he wished he had taken better care of Ronaldo as the former Manchester United man missed key matches in April, including a Champions League semi-final at Manchester City, due to muscle fatigue injuries.Despite his absence against Deportivo and Sevilla, Ronaldo was still at the Bernabeu to support his teammates.And Zidane hailed the leadership role the now 31-year-old Ronaldo has adopted.“He is a leader on and off the field. He is here before and after the game, he is completely involved even when he doesn’t play,” added Zidane.“Possibly you (the media) have noticed it less, but he has a tremendous energy and he transmits that to the rest. He is a real leader.”0Shares0000(Visited 1 times, 1 visits today)last_img read more

Read More »

Self-proclaimed pedophile released

first_img“They are dead wrong with respect to the order,” he said. “The order was valid and he was given notice.” Zinnanti said Friday’s civil hearing will occur as scheduled, and he hopes the judge will hold McClellan in contempt of court. McClellan left Men’s Central Jail downtown at 2:43 p.m. Tuesday, the Los Angeles County Sheriff’s Department confirmed. It had no additional information. McClellan did not return calls seeking comment. His release angered lawmakers who have been fighting to keep McClellan behind bars. “This really clarifies a need for a change in the law,” said California Assemblyman Cameron Smyth, R-Santa Clarita, who has drafted “surrogate stalker” legislation that would make current child-endangerment laws applicable to all adults. Current law covers only adults with custody over the child. “Once we can codify this behavior as criminal, we don’t have to worry about (temporary restraining orders) and then the prosecutors will have what they need,” Smyth said. McClellan hasn’t been convicted of any crimes involving pedophilia, but has posted pictures of kids on the Internet. He was arrested Aug. 13 on the campus of UCLA after being told by campus police to leave the area. After returning to the campus a second time that day for a news conference, he was booked at the West Hollywood sheriff’s station. News of his release Tuesday struck a nerve with child-safety advocates. “So many times the criminal-justice system doesn’t create any justice for the victims,” said Angela Rose, founder of an anti-sexual-violence group. “Jack has … tried to evade the police; he’s used aliases,” said Ron Tebo, creator of a Web site that lists sightings of McClellan. “Jack is a threat not just because he’s a pedophile, but because of the admissions he’s made.” barbara.correa@dailynews.com (818) 713-3662160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! A week after being locked up for loitering outside a UCLA infant-development center with a camera, self-proclaimed pedophile Jack McClellan was released Tuesday after authorities dismissed criminal charges against him. The Los Angeles City Attorney’s Office threw out its criminal prosecution of McClellan, who was arrested after violating a civil court order barring him from being within 30 feet of a minor anywhere in the state. Deputy City Attorney Supervisor Richard Craft said the City Attorney’s Office had an ethical obligation to free McClellan because the original court order contained several defects. First, the order keeping McClellan away from children was issued for three years. Normally such temporary restraining orders are for about 22 days, the City Attorney’s Office said. Second, McClellan was not present in the courtroom Aug. 3, the day the order was issued. He was also not given notice of the order when it was made and did not have an opportunity to have his day in court, the City Attorney’s Office said. “We had no choice but to ask the judge to dismiss,” said Nick Velasquez, a spokesman for the office. Velasquez said the dismissal ends the criminal case against McClellan, but that the restraining order remains in effect. McClellan is due back in court Friday to face contempt-of-court charges for violating the Aug. 3 court order. McClellan’s release angered Anthony Zinnanti, one of the lawyers who won the temporary restraining order against him. Zinnanti said the City Attorney’s Office reacted out of fear of losing the criminal prosecution. last_img read more

Read More »

Chelsea rebuff inquiries from Bayern, Juventus and Dortmund for defender

first_img gameday cracker SORRY 2 RANKED MOST READ IN FOOTBALL Where Ancelotti ranks with every Premier League boss for trophies won 2 huge blow latest Top nine Premier League free transfers of the decade Oxlade-Chamberlain suffers another setback as Klopp confirms serious injury They were met with a firm stance of ‘no’, with Christensen regarded as one of the best young centre-halves in the world.Despite that, the 22-year-old has started just one Premier League game this season for the Blues, with Maurizio Sarri preferring David Luiz.That is a complete role reversal from last season, with former boss Antonio Conte naming him in his starting XI 23 times in the top flight, with Luiz then frozen out of his plans.It is that lack of game time which has alerted some of Europe’s elite, with Christensen himself desperate for more regular football. The average first-team salaries at every Premier League club in 2019 Every time Ally McCoist lost it on air in 2019, including funny XI reactions center_img Chelsea have told Bayern Munich, Borussia Dortmund and Juventus they have no interest in selling Andreas Christensen, according to reports.The Evening Standard claims all three clubs have approached the Blues in the past week over the Denmark international’s availability. Liverpool news live: Klopp reveals when Minamino will play and issues injury update David Luiz is close to signing a new contract at Stamford Bridge revealed Boxing Day fixtures: All nine Premier League games live on talkSPORT REVEALED Andreas Christensen is a man in demand – but Chelsea will not be selling him in this window Getty Sky Sports presenter apologises for remarks made during Neville’s racism discussion Getty BEST OF Chelsea, though, have absolutely no intention of selling the young defender, who has three years remaining on his current contract.Elsewhere, the Blues remain locked in discussions with Luiz and his representatives over a new deal for the Brazilian.The 31-year-old, whose current deal runs out at the end of the season, is believed to be close to signing a one-year contract extension.last_img read more

Read More »

‘Shearer knocked me out when I started on him at Newcastle’

first_img Spurs investigation into alleged racial abuse of Rudiger is so far ‘inconclusive’ Chelsea fan arrested for allegedly racially abusing Heung-min Son 2 Michael Owen’s book has caused a stir in the football world.Among the topics discussed in Reboot – My Life, My Time, the former England striker took aim at Newcastle legend Alan Shearer, his manager at St James’ Park when the club were relegated from the Premier League. Shearer, the Premier League and Newcastle’s record scorer, and Owen played alongside each other at St James’ Park during the former’s final season as a footballer LATEST FOOTBALL NEWS update statement Ian Holloway thinks Arsenal have made a mistake in hiring Mikel Arteta Man United transfer news live: Haaland ‘wants a change’, two players off in January latest stalemate Top scorer in 2019: Messi, Mbappe and Sterling trailing Europe’s top marksman rookie error targets Gillespie came off much worse than Magpies’ legend Shearer, with the striker’s punch laying him down and forcing him to spend the night in A&E.“I did actually spend a night in hospital,” he continued. “Because when he hit me I fell and hit my head on a plant pot. I was unconscious.“He came and saw me the next day, and we had a laugh about it.”It seems unlikely Shearer will be inviting Owen over for a cuppa anytime soon, however. Tony Cascarino backs Everton to sign two strikers for Carlo Ancelotti center_img Getty Images – Getty on target Liverpool transfer news live: Star man wanted by Real Madrid, Mbappe latest and more Gillespie joined Newcastle from Man United in 1995 and once felt the power of a Shearer haymaker Shearer wasn’t impressed and had a swipe back, using Twitter to make his point.Thankfully nobody was physically hurt, unlike Keith Gillespie when he took on top scoring Shearer after a row in a pub.The former Newcastle winger, speaking to talkSPORT in 2016, explained how a fight between him and his team-mate saw him admitted to hospital.Gillespie spent three years at the club, arriving on Tyneside from Manchester United the year before Shearer was signed from Blackburn in a £15m transfer in 1996. 2 BIG PRESENTS UP TOP appointed Getty Images – Getty Video Player is loading.Play VideoPlayMuteCurrent Time 0:00/Duration 1:08Loaded: 0%Progress: 0%Stream Type LIVERemaining Time -0:00 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedAudio TrackFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.Video Player is loading.Play VideoPlayMuteCurrent Time 0:00/Duration 1:08Loaded: 14.54%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -1:08 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreen What every Premier League club’s fans dream of this Christmas deals Sam Allardyce on Michael Owen’s comments that he did not want to join Newcastle“We were away on a mid-season break, and I knocked some cutlery off the table accidentally,” he said.“[Shearer] looked over to say ‘pick that up’, and I just didn’t like the way he was talking to me.“I just turned round and said: ‘Right. Outside now!’ And he took me up on the offer.“I didn’t think he would, but I was a bit too proud to back down. We ended up going outside, and I took one swing and missed, and he hit me – and that was goodnight.” Steve Round reveals how Mikel Arteta convinced him to join Arsenal staff Strugglers Wigan hold Blackburn to goalless draw in Championship last_img read more

Read More »

Donald Pumphrey, 65

first_imgThe funeral service will be held Tuesday, August 1, 2017 at 11:00 A.M. at Weathers Funeral Home. Visitation will be Monday from 4 to 8 P.M. and Tuesday from 9 A.M. until time of service. Burial will follow in Crown Hill Cemetery. Donald Pumphrey age 65 passed away Friday, July 28 at his home surrounded by his family. He was born January 18, 1952 in New Albany, Indiana the son of Elvin Ray and Anna Mae Jonas Pumphrey. He owned and operated “Donnie’s Body Shop”. He was a member of the Moose Lodge, and the VFW Auxiliary.He is survived by his wife: Cathy Ewing Pumphrey they were married December 15, 1972. He is also survived by two sons: Bobby Pumphrey (Annie) and Tony Pumphrey (Laura) both of Salem, brothers: Virgil Pumphrey of Salem, Bill Pumphrey (Jenny) of Austin, Indiana, and Roger Pumphrey of Jeffersonville, Indiana, a sister: Linda Lee of Salem, 1 grandson: Logan Pumphrey, and his mother Anna Pumphrey.He is preceded in death by his sisters: Ann Hedrick, and Lisa Albertson, a granddaughter: Carly Pumphrey, and his father Elvin Pumphrey.last_img read more

Read More »

Kraus scores top-10 finish in Camping World Truck Series debut

first_imgFor Hub City TimesAVONDALE, AZ – Stratford’s Derek Kraus came away with a top-10 finish while making his debut in the NASCAR Camping World Truck Series in the Lucas Oil 150 at ISM Raceway on Nov. 9.The 17-year-old NASCAR Next driver landed an eighth-place finish in his first visit to the one-mile track.Kraus, who was fifth on the speed chart in the final practice session earlier in the day, qualified eighth in time trials. He charged up to fifth in the early laps of the race. After being shuffled back to 15th following pit stops at the end of Stage 1, he worked his way back into the top 10 during the second stage. He was as high as fifth on a restart three laps from the finish, then took the checkered flag in eighth following a fierce battle in the closing laps.“It was a great run for our first time out,” Kraus said. “The BMR crew brought me a really good No. 19 NAPA AUTO PARTS Toyota Tundra. It was a bonus for the end of the year that we had a really good run.”Kraus said he plans to learn from this first venture into the truck series.“I needed to be a little more aggressive on the restarts,” he said. “That would help a lot, to get spots early while tires are really fresh and cold. We will learn and adjust from this.”Team owner Bill McAnally praised Kraus and the BMR crew for their success.“Derek did an outstanding job in making his first truck series start such a success, especially considering it was his first time to race at ISM Raceway,” McAnally said. “He didn’t hesitate to challenge the veterans of the series and race door-to-door with them.“The NAPA team provided him with a fast Toyota Tundra,” McAnally added. “I’m proud of the hard work by everybody involved in this effort.”The race, which was won by Brett Moffitt, was televised live on FOX Sports 1 and was also carried live on MRN radio.Kraus recently completed his second full season in the NASCAR K&N Pro Series West – driving BMR’s No. 16 NAPA AUTO PARTS Toyota Camry. He led the series this season in terms of wins, with four, and poles, with five. He also led the most laps of competition.last_img read more

Read More »