Cup Series : 2024 NASCAR Cup Series Championship Race ( Phoenix )
139-583: Roger Searle Penske (born February 20, 1937) is an American auto racing team owner, businessman, and retired professional driver. Penske is the owner of Team Penske , the Indianapolis Motor Speedway , IndyCar , and other auto racing-related businesses. Penske is the founder and chairman of the Penske Corporation , a holding company for his various businesses. Penske is also a Presidential Medal of Freedom recipient. Penske
278-591: A 4-D ministerial deferment while living in France as a missionary. He later sought and received two additional student deferments. When those ran out, he drew number 300 in the December 1969 draft lottery , ensuring he would not be drafted. At culturally conservative BYU, Romney remained separated from much of the upheaval of that era. He became president of the Cougar Club booster organization and showed
417-494: A moderate or more neoconservative Republican , Romney was the lone Republican to vote to convict Donald Trump in his first impeachment trial , making him the first senator ever to have voted to remove a president of the same party from office. Romney also voted to convict in Trump's second trial in 2021. He marched alongside Black Lives Matter protestors, voted to confirm both Amy Coney Barrett and Ketanji Brown Jackson to
556-562: A stake president for an area covering Boston and many of its suburbs. By 1971, he had participated in the political campaigns of both his parents. In 1971, Romney graduated with a Bachelor of Arts in English from Brigham Young University (BYU) and in 1975 he received a JD–MBA degree from Harvard . He became a management consultant and in 1977 joined Bain & Company in Boston . As Bain's chief executive officer (CEO), he helped lead
695-414: A 19-year partnership. The team subsequently changed their livery to black and white with red trim, reflecting Verizon sponsorship (similar to McLaren Formula One team when they had a black-silver livery from 1997 to 2005 reflecting Mercedes-Benz engines and West sponsorship). Penske first fielded a blue Sunoco 1967 Chevrolet Camaro driven by Mark Donohue in this series designed for Pony cars like
834-591: A 2.5-mile course in Speedway, Indiana , the Indianapolis 500-mile race and IndyCar from the Hulman Family for an undisclosed amount. As of October 2023, Penske's estimated net worth is $ 3.8 billion. Penske Racing donated $ 500,000 to Restore Our Future , Mitt Romney 's Super PAC . He was discussed as a potential candidate for Mayor of Detroit but declined to run. Penske endorsed Donald Trump in
973-577: A 30-month stint in France as a Mormon missionary , a traditional rite of passage in his family. He arrived in Le Havre , where he shared cramped quarters under meager conditions. Rules against drinking, smoking, and dating were strictly enforced. On average, individual Mormon missionaries do not gain many converts and Romney was no exception: he later estimated 10 to 20 for his entire mission. He initially became demoralized and later recalled it as
1112-471: A June 1970 newspaper profile of children of cabinet members, Mitt said that U.S. involvement in the war had been misguided – "If it wasn't a political blunder to move into Vietnam, I don't know what is" – but supported Nixon's ongoing Cambodian Incursion as a sincere attempt to end the war. During the U.S. military draft for the Vietnam War, Romney sought and received two 2-S student deferments , then
1251-400: A businessman who said he had created 10,000 jobs and as a Washington outsider with a solid family image and moderate stances on social issues. When Kennedy tried to tie Romney's policies to those of Ronald Reagan and George H. W. Bush , Romney responded, "Look, I was an independent during the time of Reagan-Bush. I'm not trying to take us back to Reagan-Bush." Romney said, "Ultimately, this
1390-565: A career in business rather than law. He was recruited by several large companies but joined the Boston Consulting Group (BCG), reasoning that working as a management consultant for a variety of companies would better prepare him for a future position as a chief executive. Part of a 1970s wave of top graduates who chose to go into consulting rather than join a large company directly, he found his legal and business education useful in his job. He applied BCG principles such as
1529-526: A deal where it profited handsomely from early payments and management fees, even though the subject company itself later went into bankruptcy. Dade Behring was another case where Bain Capital received an eightfold return on its investment but the company itself was saddled with debt and laid off over a thousand employees before Bain Capital exited (the company subsequently went into bankruptcy, with more layoffs, before recovering and prospering). Referring to
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#17327866791191668-811: A driver, to concentrate on his first Chevrolet dealership in Philadelphia, Pennsylvania . Penske Racing debuted in 1966 at the 24 Hours of Daytona . He developed one of the most successful teams in IndyCar Series and NASCAR racing. He is the most successful team owner at the Indianapolis 500 with 20 victories. He is known by his nickname of "The Captain". Penske also served as a race strategist for his IndyCar team, most recently for driver Will Power . Penske won his first NASCAR Sprint Cup Championship with driver Brad Keselowski on November 18, 2012. On September 16, 2018, driver Brad Keselowski won
1807-401: A few years, the firm considered him one of its best consultants. In fact, clients sometimes preferred to use him rather than more-senior partners. Two family incidents during this time later surfaced during Romney's political campaigns. A state park ranger in 1981 told Romney his motorboat had an insufficiently visible license number and that he would face a $ 50 fine if he took the boat onto
1946-407: A few years. Bain Capital lost money in many of its early leveraged buyouts, but then found deals that made large returns. The firm invested in or acquired Accuride Corporation , Brookstone , Domino's Pizza , Sealy Corporation , Sports Authority , and Artisan Entertainment , as well as some lesser-known companies in the industrial and medical sectors. Much of the firm's profit was earned from
2085-466: A former quarterback for the Chicago Bears . Romney was called "Billy" until kindergarten, when he expressed a preference for "Mitt". In 1953, the family moved from Detroit to the affluent suburb of Bloomfield Hills and his father became the chairman and CEO of American Motors the following year and helped the company avoid bankruptcy and return to profitability. By 1959, his father had become
2224-560: A hands-on role in the Boston Stake's matters, helping in domestic maintenance efforts, visiting the sick, and counseling burdened church members. A number of local church members later credited him with turning their lives around or helping them through difficult times. Others, rankled by his leadership style, desired a more consensus-based approach. Romney tried to balance the conservative directives from church leadership in Utah with
2363-570: A mansion far more comfortable than the accommodations he experienced elsewhere in the country. When the French expressed opposition to the U.S. role in the Vietnam War , Romney debated them. Those who yelled at him and slammed their doors in his face merely reinforced his resolve. In June 1968, while in southern France and driving an automobile that was hit by another vehicle, Romney was seriously injured. The crash killed one of his passengers,
2502-567: A nationally known figure in print and on television, and Mitt idolized him. Romney attended public elementary schools until seventh grade, when he enrolled as one of only a few Mormon students at Cranbrook School , a private upscale boys' preparatory school a few miles from his home. Many students there came from backgrounds even more privileged than his. Not particularly athletic, he also did not distinguish himself academically. He participated in his father's successful 1962 Michigan gubernatorial campaign , and later worked as an intern in
2641-480: A nearly sevenfold return on its investment, and Romney sat on Staples's board of directors for over a decade. Romney soon switched Bain Capital's focus from startups to the relatively new business of leveraged buyouts : buying existing companies with money mostly borrowed from banking institutions using the newly bought companies' assets as collateral, taking steps to improve the companies' value, and then selling those companies when their value peaked, usually within
2780-665: A new challenge, as well as another chance to prove himself in public life, he did. On February 11, 1999, the Salt Lake Organizing Committee for the Olympic and Paralympic Winter Games of 2002 hired Romney as its president and CEO. Before Romney took over, the event was $ 379 million short of its revenue goals. Officials had made plans to scale back the Games to compensate for the fiscal crisis, and there were fears it might be moved away entirely. In addition,
2919-456: A newfound discipline in his studies. During his senior year, he took a leave of absence to work as driver and advance man for his mother's unsuccessful U.S. Senate campaign; together, they visited all 83 Michigan counties . Romney graduated from BYU in 1971 with a Bachelor of Arts degree in English and a 3.97 GPA . He gave commencement addresses to both the College of Humanities and
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#17327866791193058-436: A performance in a nearly twenty years; none of Team Penske's drivers qualified inside the top fifteen, Will Power was almost bumped from the starting lineup, and their best result was a third-place via a late charge by Simon Pagenaud. A bright spot for the team was their partnership with all-female operated Paretta Autosport team for the 2021 Indianapolis 500 ; Team Penske prepped a chassis leased from Juncos Racing and helped
3197-446: A political figure who had opposed Kennedy, he would become a focal point for opposition to the structure. He thus kept to a limited, behind-the-scenes role in attempts to ease tensions between the church and local residents. In 1998, Ann Romney learned that she had multiple sclerosis ; Mitt described watching her fail a series of neurological tests as the worst day of his life. After experiencing two years of severe difficulties with
3336-929: A profit from his family's home in Cleveland, Ohio. He graduated from Shaker Heights High School in 1955 and is a 1959 graduate of Lehigh University , where he was a member of the Phi Gamma Delta fraternity. Penske's first racing venture was in hillclimbing, but then ran road course racing at the Vineland Raceway in Vineland, New Jersey , as a member of the Philadelphia Region of the Sports Car Club of America (SCCA) in Porsches . Penske made his first professional racing start at
3475-749: A reference of Porsche Motorsport works team. The Porsche RS Spyder made its successful debut at the ALMS season final race at Mazda Raceway Laguna Seca . The " Porsche Junioren " factory drivers Sascha Maassen and Lucas Luhr finished 1st in LMP2 Class and 5th Overall in the 4–Hour Endurance Race. The livery of the Penske Racing American Le Mans Series team was inspired by Jordan EJ12 's DHL Formula 1 livery driven by Giancarlo Fisichella and Takuma Sato . In 2006, Penske Motorsports fielded two LMP2 Porsche RS Spyder in
3614-444: A relatively small number of deals; Bain Capital's overall success-to-failure ratio was about even. Romney discovered few investment opportunities himself (and those that he did often failed to make money for the firm). Instead, he focused on analyzing the merits of possible deals that others brought forward and on recruiting investors to participate in them once approved. At Bain Capital, Romney spread profits from deals widely within
3753-506: A result of his experience there, Romney developed a lifelong affection for France and its people, and has remained fluent in French. At their first meeting following his return, Romney and Ann Davies reconnected and decided to get married. Before their wedding, Romney moved to Utah and enrolled at Brigham Young University , where Ann had been studying. They married on March 21, 1969, in a civil ceremony in Bloomfield Hills and
3892-446: A result, he enrolled in the recently created four-year joint Juris Doctor / Master of Business Administration program coordinated between Harvard Law School and Harvard Business School . He readily adapted to the business school's pragmatic, data-driven case study method of teaching . Living in a Belmont, Massachusetts , house with Ann and their two children, his social experience differed from that of most of his classmates. He
4031-494: A second championship for the team in 2019 while Will Power and Simon Pagenaud respectively won back-to-back Indianapolis 500s in 2018 and 2019. In 2020 the team would win the most races of any team in the IndyCar series but did not win the Indianapolis 500 or secure the IndyCar championship, with Newgarden being unable to defend his title against Scott Dixon. In 2021 Team Penske expanded again to four-time cars. The year also marked
4170-449: A shares at Ilmor Engineering Ltd. as well as Chevrolet official team vehicles, financial support and also Chevrolet and Ilmor staff would work with the team at their Mooresville base. Once again, Penske would dominate the early portion of the season, winning 4 consecutive races, with Castroneves taking the season opener at St. Petersburg, and Power capturing wins at Barber, Long Beach, and São Paulo. Briscoe would have struggles throughout
4309-529: A significant stake in publicly-traded Penske Automotive Group , an international company that operates automobile dealerships in the United States, Canada, and parts of Europe; Penske Truck Leasing , a truck sales, leasing, and fleet maintenance company; Penske Motor Group which operates auto dealerships in California and Texas. On November 4, 2019, Penske acquired the Indianapolis Motor Speedway ,
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4448-522: A studio that produced R-rated films . Romney served on the board of directors of Damon Corporation, a medical testing company later found guilty of defrauding the government; Bain Capital tripled its investment before selling off the company, and the fraud was discovered by the new owners (Romney was never implicated). In some cases, Romney had little involvement with a company once Bain Capital acquired it. Bain Capital's leveraged buyouts sometimes led to layoffs, either soon after acquisition or later after
4587-465: A successful stint as president and CEO of the then-struggling Salt Lake Organizing Committee for the 2002 Winter Olympics led to a relaunch of his political career. Elected governor of Massachusetts in 2002 , Romney helped develop and later signed a health care reform law (commonly called "Romneycare") that provided near-universal health insurance access through state-level subsidies and individual mandates to purchase insurance . He also presided over
4726-484: A symbolic salary of one dollar (remaining managing general partner of Bain Capital during this time). He oversaw an effort to restructure Bain & Company's employee stock-ownership plan and real-estate deals, while rallying the firm's 1,000 employees, imposing a new governing structure that excluded Bain and the other founding partners from control, and increasing fiscal transparency. He got Bain and other initial owners who had removed excessive amounts of money from
4865-437: A system in which any partner could veto one of these potential opportunities, and he personally saw so many weaknesses that few venture capital investments were approved in the initial two years. The firm's first significant success was a 1986 investment to help start Staples Inc. , after founder Thomas G. Stemberg convinced Romney of the market size for office supplies and Romney convinced others; Bain Capital eventually reaped
5004-457: A team to handle financial and management issues, sought to counter anti-Mormon sentiment, and tried to solve social problems among poor Southeast Asian converts. An unpaid position, his local church leadership often took 30 or more hours a week of his time, and he became known for his considerable energy in the role. He also earned a reputation for avoiding any overnight travel that might interfere with his church responsibilities. Romney took
5143-801: A win in a Formula One race. In 1971 Penske had sponsored the McLaren car entered in the 1971 Canadian Grand Prix by the White Racing privateer team and in the 1971 United States Grand Prix by the Kirk White privateer team. At the Canadian Grand Prix Mark Donohue took the Penske-sponsored McLaren car to a podium finish. Penske returned three years later, in the 1974 Canadian Grand Prix , with their own works team as well as own chassis,
5282-455: Is Tim Cindric . Team Penske currently fields three cars: the No. 2 Hitachi Dallara / Chevrolet for Josef Newgarden , the No. 3 Dallara / Chevrolet driven by Scott McLaughlin , and the No. 12 Verizon Dallara / Chevrolet driven by Will Power . Notable past drivers include 4-time Indianapolis 500 winners Al Unser , Rick Mears , and Helio Castroneves . At the 2024 race, Team Penske won
5421-489: Is a campaign about change." Romney's campaign was effective in portraying Kennedy as soft on crime but had trouble establishing its own consistent positions. By mid-September 1994, polls showed the race about even. Kennedy responded with a series of ads that focused on Romney's seemingly shifting political views on issues such as abortion; Romney responded, "I believe that abortion should be safe and legal in this country." Other Kennedy ads centered on layoffs of workers at
5560-519: The 12 Hours of Sebring the "Sunoco" made the pole again but finished the race at the sixth position after making contact with Pedro Rodrigez's 917. Despite this misfortune, the car had proved to be a serious opponent for the 917. Not only this car was the fastest on track in Daytona and Sebring but it was also the car that had the shortest refueling time. The presence of the 512 M "Sunoco" forced Porsche to pursue his effort of research and development on
5699-710: The 12 Hours of Sebring . This was Porsche 's first overall win in the race since 1988 in a Porsche 962 . 2008 team lineup: On December 4, 2008, Roger Penske announced that the Team Penske officially shut down its participation in the American Le Mans Series and thus defected to ALMS's rival Grand-Am Rolex Sports Car Series for the full 2009 season. The team utilized a Porsche-powered Riley with Timo Bernhard and Romain Dumas as their official drivers. However, in late 2009, Roger Penske announced that
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5838-418: The 1966 24 Hours of Daytona , the organization has also competed in various other types of professional racing such as Formula One , Can-Am , Trans Am , and Australia's Supercars Championship . Altogether, Team Penske has earned over 500 victories and over 40 championships in all of auto racing. Team Penske is a division of Penske Corporation , and is owned and chaired by Roger Penske . The team president
5977-491: The 1992 presidential primaries for the Democratic former senator from Massachusetts, Paul Tsongas . By 1993, Romney had begun thinking about entering politics, partly on Ann's urging and also to follow in his father's footsteps. He decided to challenge incumbent Democratic U.S. Senator Ted Kennedy , who was seeking reelection to a sixth term. Political pundits viewed Kennedy as vulnerable that year, in part because of
6116-495: The 2012 presidential election , becoming the first LDS Church member to be a major party 's nominee. He lost the election to President Barack Obama . After reestablishing residency in Utah, Romney ran for U.S. Senate in 2018 . When Romney won the Republican nomination and general election, he became the first person in modern American history to be elected governor and U.S. senator of different states. Generally considered
6255-556: The 2020 United States presidential election after receiving the Presidential Medal of Freedom in 2019. He contributed $ 45,000 to Donald Trump 's 2020 presidential campaign . Auto racing Halls of Fame National Team Penske Team Penske (formerly Penske Racing ) is an American professional auto racing organization, competing in the IndyCar Series , NASCAR Cup Series , IMSA SportsCar Championship and FIA World Endurance Championship . Debuting at
6394-748: The 2023 24 Hours of Daytona . With the No. 6 Porsche retiring due to a gearbox issue and No. 7 finishing in 7th place. In May 2021 Porsche announced its return to FIA World Endurance Championship new category LMDh with Penske running their factory team. They announced their return to both WEC and IMSA for 2023 season running two new Porsche 963 in each competition. To prepare their return to WEC, Penske took part in WEC 2022 season with one Oreca 07 -Gibson in LMP2 class. Former Team Penske lubricant partner and supplier Mobil 1 rejoined as official team's lubricant partner and supplier from 2023 season onwards due to
6533-607: The Ford Mustang . Penske-entered Camaros won the series championship in 1968 and 1969. Later they switched to a red/white/blue American Motors backed 1970 AMC Javelin , and later the restyled 1971 AMC Javelin AMX which had an aerodynamic tail spoiler and other features suggested by Donohue. American Motors won the Over 2.5-liter title in 1971, after which Penske withdrew from the championship. Penske Racing also had an alliance with
6672-475: The NASCAR Sprint Cup Series , driving full-time for the 2008 season with Team Penske American Le Mans Series confirming Porsche LMP2 driver Ryan Briscoe as Castroneves's new teammate for 2008 on November 13, 2007. Team Penske started the 2008 season poorly but Hélio Castroneves posted five top-four finishes (including two 2nd-place finishes) to start the year. Meanwhile, Ryan Briscoe
6811-486: The Penske PC1 , a standard tub built around a Cosworth DFV engine and a Hewland gearbox. Donohue took the car to 12th place on its debut. Mitt Romney [REDACTED] Willard Mitt Romney (born March 12, 1947) is an American politician, businessman, and lawyer serving as the junior United States senator from Utah since 2019. He served as the 70th governor of Massachusetts from 2003 to 2007 and
6950-757: The Porsche partnership. 2023 line-up: Penske competed in the Formula One World Championship as a chassis constructor from 1974 to 1977 and as a works team from 1974 to 1976 . Although the cars were built at the British base in Poole , the works team held an American licence . Excluding the Indianapolis 500 , Penske is, along with the All American Racers , one of only two American constructors to have achieved
7089-549: The Supreme Court , supported gun control measures, and did not vote for Trump in the 2016 and 2020 presidential elections. He has long been hawkish on issues such as Iran , China , and Russia , and is one of Israel 's staunchest supporters in Congress. He has been accused by Trump loyalists of being a Republican In Name Only . In 2023, Romney announced he would not run for reelection in 2024 and would retire from
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#17327866791197228-461: The growth-share matrix , and executives viewed him as having a bright future there. At BCG, he was a colleague of Benjamin Netanyahu , with whom he formed a friendship that has lasted for more than 40 years. In 1977, he was hired by Bain & Company , a management consulting firm in Boston formed a few years earlier by Bill Bain and several other ex-BCG employees. Bain later said of
7367-513: The 1965–1966 academic year. He was not part of the counterculture of the 1960s then taking form in the San Francisco Bay Area . As opposition to United States involvement in the Vietnam War grew, a group staged a May 1966 sit-in at Stanford's administration building to demonstrate against draft status tests; Romney joined a counterprotest against that group. He continued to enjoy occasional pranks. In July 1966, he began
7506-457: The 2010 season in style by winning the first three races of the season. Will Power challenged for the driver's title until suspension failure in the season finale at Homestead-Miami Speedway robbed him of a shot at the championship. Penske ended up finishing the 2010 season with nine wins, thirteen pole positions, and six fastest laps (mostly by Will Power ). On 12 November 2010, Penske confirmed that they would end their partnership with Honda at
7645-430: The 2011 season with six victories, all from Will Power , while Castroneves and Briscoe went winless. Roger Penske announced a switch to full-works General Motors -owned Chevrolet engines for the 2012 IndyCar Series season onwards and thus Team Penske earned a full-factory support from General Motors and Chevrolet and also Team Penske received free engines formally from Ilmor and Chevrolet as Roger Penske has
7784-561: The 30-year-old Romney, "He had the appearance of confidence of a guy who was maybe ten years older." Unlike other consulting firms, which issued recommendations and then departed, Bain & Company immersed itself in a client's businesses and worked with them until changes were implemented. Romney became a vice president of the firm in 1978, working with such clients as the Monsanto Company , Outboard Marine Corporation , Burlington Industries , and Corning Incorporated . Within
7923-399: The 5-liter Ferrari 512 . To prepare for the 1972 season, the new works prototype Ferrari 312PB was presented and engaged by the factory in several races. Roger Penske bought a used 512 M chassis that was dismantled and rebuilt. The car was specially tuned for long races receiving many unique features, among them were a large rear wing and aviation-inspired quick refueling system. The engine
8062-559: The 917: The 917K short tail was modified, and the 917 LH aerodynamics received further improvements. New Magnesium chassis were developed. An entirely new car, the 917/20 was built as a test-bed for future CanAm parts and aerodynamic "low-drag" concepts. In Le Mans the "Sunoco" Ferrari was unable to break the 200 mph (320 km/h) barrier on the straight while the Porsche 917 LH were lightning-quick at speeds of over 240 mph (380 km/h). Mark Donohue qualified fourth anyway, which
8201-629: The American Le Mans Series, but did not run the 2006 24 Hours of Le Mans in June. The Penske cars combined to win seven class victories and the overall win at Mid-Ohio . Penske Racing won the LMP2 team championship. Drivers Sascha Maassen and Lucas Luhr tied for first place in the driver's championship, while Timo Bernhard finished fifth, Romain Dumas finished sixth, and Emmanuel Collard finished tenth. 2006 team lineup: In 2007, Penske Motorsports fielded two LMP2 Porsche RS Spyder Evo in
8340-527: The American Le Mans Series. Penske Motorsports for the 2nd year in a row did not compete in 2007 24 Hours of Le Mans in June. Penske's two cars combined for eleven class victories and eight overall victories during the twelve race season. Penske won the LMP2 team championship, and team drivers Romain Dumas and Timo Bernhard finished tied for first in the LMP2 driver's championship, while Sascha Maassen and Ryan Briscoe tied for third place. 2007 team lineup: Penske started their 2008 season with an overall win in
8479-459: The Ampad plant owned by Bain Capital. The latter was effective in blunting Romney's momentum. Kennedy and Romney held a widely watched late October debate that had no clear winner, but by then, Kennedy had pulled ahead in polls and remained so. Romney spent $ 3 million of his own money on the race and more than $ 7 million overall. Despite a disastrous showing for Democrats nationwide , Kennedy won
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#17327866791198618-534: The Games' image had been damaged by allegations of bribery against top officials including prior committee president and CEO Frank Joklik. The Salt Lake Organizing Committee forced Joklik and committee vice president Dave Johnson to resign. Utah power brokers, including Governor Mike Leavitt , searched for someone with a scandal-free reputation to take charge of the Olympics. They chose Romney based on his business and legal expertise as well as his connections to both
8757-464: The Games's safety after the September 11 attacks by coordinating a $ 300 million security budget. He oversaw a $ 1.32 billion budget, 700 employees, and 26,000 volunteers. The federal government provided approximately $ 400 million to $ 600 million of that budget, much of it a result of Romney's having aggressively lobbied Congress and federal agencies. It was a record level of federal funding for
8896-573: The Indianapolis 500 19 times, won the Indianapolis 500 pole position 18 times, as well as 200 open wheel IndyCar wins in USAC, CART and IRL (as of May 19, 2018), 29 of which are in 500-Mile Races and 13 open-wheel championships. Team Penske has 1,463 starts in IndyCar races, 231 pole positions, 71 wins from pole, 47 double wins of which 8 are 1–2–3 finishes from the Pocono race on June 26, 1977, to January 1, 2015. In 2001, Team Penske marked its return to
9035-493: The Indianapolis 500 but their overall form would be greatly improved, with the team winning four of the first seven races of the season and nine races overall in the season. Scott McLaughlin would take his first IndyCar win at the season opener in St. Petersburg while Will Power and Josef Newgarden would hold the championship points lead at different points in the season. Will Power would ultimately clinch his second IndyCar championship at
9174-474: The Indy 500 after a five-year absence due to the open wheel split , after the 1995 PPG IndyCar World Series season with an Oldsmobile engines. Later, in 2001 Roger Penske announced he would leave CART for the 2002 IRL IndyCar Series season with Chevrolet engines. As Toyota confirmed defection from CART Champ Car to IRL IndyCar Series , the team switched to Toyota engines from 2003 season onwards as it
9313-626: The Indy 500 for a record 20th time. The team has won the series championship 16 times. The open-wheel racing portion of Penske Racing had been based in Reading, Pennsylvania since 1973 with the cars, during the Formula One and CART era, being constructed in Poole , Dorset , England , which was also the base for the F1 team. On October 31, 2005, Penske Racing announced after the 2006 IRL season , they would consolidate IRL and NASCAR operations at
9452-576: The Japanese company's racing division in Japan and the United States including tune-up support from Ilmor Engineering in Plymouth, Michigan. The partnership started well in 2006, winning the 2006 Indianapolis 500 and 2006 IndyCar Series titles at the hands of Sam Hornish Jr. . Penske retained their Castroneves - Hornish Jr. pair for the 2007 season. The second year of the renewed Honda partnership
9591-625: The LDS Church and the state. The appointment faced some initial criticism from both non-Mormons and Mormons that it represented cronyism and made the Games seem too Mormon-dominated. Romney donated to charity the $ 1.4 million in salary and severance payments he received for his three years as president and CEO, and also donated $ 1 million to the Olympics. Romney restructured the organization's leadership and policies. He reduced budgets and boosted fundraising, alleviating corporate sponsors' concerns while recruiting new ones. Romney worked to ensure
9730-473: The LDS Church, he is a great-grandson of Miles Park Romney and a great-great-grandson of Miles Romney , who converted to Mormonism in its first decade. Another great-great-grandfather, Parley P. Pratt , helped lead the early church . Romney has three older siblings: Margo, Jane, and Scott. Mitt was the youngest by nearly six years. His parents named him after a family friend, businessman J. Willard Marriott , and his father's cousin, Milton "Mitt" Romney ,
9869-589: The McLaren domination of the Can-Am, Penske switched back to Lola Cars for his 1969 Can-Am efforts, but only entered the car in one race at Mid-Ohio . From 1972 to 1974, Penske was Porsche's official partner in the CanAm Series. In late 1971, Penske and Mark Donohue helped to develop the turbocharged version of the Porsche 917 . George Follmer won the series in 1972, and Donohue dominated CanAm in 1973 with
10008-501: The No. 12 and featured primary sponsorship of both the Verizon Wireless brand and Roger Penske's truck rental business. For the 2010 season, the team entered their fifth year of its Penske-Honda partnership with Will Power promoted to a full-time Penske seat alongside Castroneves and Briscoe. Team Penske became a three-car team for the first time since 1994, with the addition of a full-time team for Power. Team Penske started
10147-461: The Penskes to run significantly faster, giving them the pole and outside front row on the grid for the 78th Indianapolis 500 . Al Unser Jr. and Emerson Fittipaldi dominated the race, eventually lapping the field with 16 laps to go in the 200 lap race when Fittipaldi made contact with the wall coming out of Turn 4, giving Al Unser Jr. the lead and win. The only driver who finished on the lead lap
10286-654: The Republican nomination for the Senate seat, but Romney proved the most effective fundraiser. He won 68% of the vote at the May 1994 Massachusetts Republican Party convention; businessman John Lakian finished a distant second, eliminating Jeghelian. Romney defeated Lakian in the September 1994 primary with more than 80% of the vote. In the general election, Kennedy faced the first serious reelection challenge of his career. The younger, telegenic, and well-funded Romney ran as
10425-633: The Senate when his term expires in 2025. Willard Mitt Romney was born on March 12, 1947, at Harper University Hospital in Detroit , Michigan, one of four children born to automobile executive George W. Romney and former actress and homemaker Lenore Romney (née LaFount). His mother was a native of Logan, Utah , and his father was born to American parents in a Mormon colony in Chihuahua , Mexico. Of primarily English descent, he also has Scottish and German ancestry. A fifth-generation member of
10564-580: The South Point 400 at Las Vegas Motor Speedway , giving Penske his 500th race victory as an owner across all racing series. Later the same season, Joey Logano would clinch the championship at Homestead-Miami Speedway , winning Penske his second championship in the Cup series. Penske is chairman of Penske Corporation , based in Bloomfield Hills, Michigan . Some of the company's holdings include
10703-422: The advice of Bain Capital lawyers, Romney met the strikers, but told them he had no position of active authority in the matter. By 1999, Bain Capital was on its way to becoming one of the foremost private equity firms in the nation, having increased its number of partners from 5 to 18, with 115 employees and $ 4 billion under management. The firm's average annual internal rate of return on realized investments
10842-429: The arrival of three-time Supercars champion and former DJR Team Penske driver Scott McLaughlin to the team, marking the first time Team Penske had signed a driver without any open-wheel experience to compete in their open-wheel racing program since Rick Mears signed to compete with the team in 1978. 2021 would be a difficult season for Team Penske. While McLaughlin was given time to adapt to IndyCar racing all three of
10981-552: The board of the Points of Light Foundation , which had embraced his father's National Volunteer Center . Romney felt restless as the decade neared a close; making more money held little attraction for him. Although no longer in a local leadership position in his church, he still taught Sunday School . During the long and controversial approval and construction process for the $ 30-million Mormon temple in Belmont , he feared that, as
11120-780: The cars any longer following the instruction of Tobacco Master Settlement Agreement restricting cigarette advertising by name. In 2007, the IndyCar Series cars began to carry Team Penske insignia by removing Marlboro branding and sponsorship from Mobil 1 (although the cars remained painted in the Marlboro color scheme—in Formula 1 the Scuderia Ferrari Marlboro and McLaren has a similar set up due to Marlboro partnership). In 2010, Phillip Morris USA discontinued their relationship with Team Penske, ending
11259-399: The championship at Chicagoland Speedway, but Scott Dixon finished in 2nd place to ensure his 2008 IndyCar Series driver's title. For 2009, Verizon Wireless , joined ExxonMobil ( McLaren 's then fuel and lubricant partner) as associate sponsors, and the team was billed as Verizon Championship Racing. The third car was driven by Will Power (originally a substitute for Castroneves) and carried
11398-612: The championship in the final race on a tie-breaker to Scott Dixon . Team Penske would go on to dominate 2016, filling the top 3 positions in the final standings. Capping the season with a dominating race victory, Simon Pagenaud won his first IndyCar championship, becoming the ninth Penske driver to be crowned champion. Roger Penske's organization claimed its 14th such title and its second in three years (Power won in '14). In 2017 Team Penske signed Josef Newgarden from Ed Carpenter Racing and would secure back-to-back IndyCar championships with Newgarden winning his first in 2017. Newgarden won
11537-415: The championship. In 2020 Team Penske won again the drivers championship, this time with Hélio Castroneves and Ricky Taylor . In the end of that season Penske left IMSA as the 3-year partnership with Acura reached its end. Penske would return to Endurance and IMSA in a partnership with Porsche for the new LMDh regulations. For the 2023 season, the team was the only one that fielded the Porsche 963 at
11676-488: The championship. The team also dominated a controversial May at Indianapolis. Penske debuted a radical new Mercedes-Benz engine at Indy, the 500I. This engine used a provision in the rules intended for stock block pushrod engines such as the V-6 Buick engines that allowed an extra 650 cm and 10 inches (4.9 psi /33.8 kPa ) of boost. This extra power (at least 900 horsepower , and rumored to be over 1000) allowed
11815-526: The church's local lay clergy . In the early 1970s, he served in a ward bishopric. He then served for a time as a seminary teacher and then as a member of the stake high council of the Boston Stake while Richard L. Bushman was stake president. In 1977, he became a counselor to the president of the Boston Stake. He served as bishop of the ward at Belmont, Massachusetts, from 1981 to 1986. As such, in addition to home teaching , he also formulated Sunday services and classes using LDS scriptures to guide
11954-463: The committee had nearly $ 1 billion in committed revenues at that time. Olympics critic Steve Pace, who led Utahns for Responsible Public Spending, thought Romney exaggerated the initial fiscal state to lay the groundwork for a well-publicized rescue. Kenneth Bullock, another board member of the organizing committee and also head of the Utah League of Cities and Towns , often clashed with Romney at
12093-529: The company out of a financial crisis. In 1984, he co-founded and led the spin-off company Bain Capital , a private equity investment firm that became one of the largest of its kind in the nation. After stepping down from his positions at Bain Capital and in the LDS Church, Romney ran as the Republican nominee for the U.S. Senate in Massachusetts in 1994 and lost to the incumbent, Ted Kennedy . He then resumed his position at Bain Capital. Years later,
12232-469: The congregation. After the destruction of the Belmont meetinghouse by a fire of suspicious origins in 1984, he forged links with other religious institutions, allowing the congregation to rotate its meetings to other houses of worship during the reconstruction of the Belmont building. From 1986 to 1994, Romney was president of the Boston Stake, which included more than a dozen wards in eastern Massachusetts and almost 4,000 church members. He organized
12371-551: The desire of some Massachusetts members to have a more flexible application of religious doctrine. He agreed with some requests from a liberal women's group that published Exponent II calling for changes in the way the church dealt with women, but he clashed with women he felt were departing too much from doctrine. In particular, he counseled women not to have abortions except in the rare cases allowed by LDS doctrine and encouraged unmarried women facing unplanned pregnancies to give their babies up for adoption. Romney later said that
12510-573: The disease, she found – while living in Park City , Utah, where the couple had built a vacation home – a combination of mainstream, alternative, and equestrian therapies that enabled her to lead a lifestyle mostly without limitations. When her husband received a job offer to take over the troubled organization responsible for the 2002 Winter Olympics and Paralympics , to be held in Salt Lake City in Utah, she urged him to accept it; eager for
12649-425: The dog suffered a bout of diarrhea. The dog incident in particular later became fodder for Romney's critics and political opponents. In 1984, Romney left Bain & Company to co-found and lead the spin-off private equity investment firm Bain Capital. He initially refrained from accepting Bill Bain's offer to head the new venture until Bain rearranged the terms in a complicated partnership structure so that there
12788-461: The election with 58% of the vote to Romney's 41%, the smallest margin in any of Kennedy's reelection campaigns for the Senate. The day after the election, Romney returned to Bain Capital, but the loss had a lasting effect; he told his brother, "I never want to run for something again unless I can win." When his father died in 1995, Mitt donated his inheritance to BYU's George W. Romney Institute of Public Management . He also became vice-chair of
12927-410: The elimination of a projected $ 1.2–1.5 billion deficit through a combination of spending cuts, increased fees, and closing corporate tax loopholes . He did not seek reelection in 2006 , instead focusing on his campaign for the Republican nomination in the 2008 presidential election , which he lost to Senator John McCain . Romney ran for president again four years later and was the Republican nominee in
13066-551: The end of the 2011 season and use engines supplied by Chevrolet for the 2012 season. For the 2011 season, the team entered their sixth and final year of its Penske-Honda partnership. Penske's trio of Castroneves-Briscoe-Power remained for the second consecutive year while the team lost the ExxonMobil sponsorship to Stewart-Haas Racing 's NASCAR team in favor of Shell and Pennzoil as their official motor oil partner. The team started well with two victories from Will Power in
13205-416: The firm concluded in early 2002; he transferred his ownership to other partners and negotiated an agreement that allowed him to receive a share of the profits as a retired partner in some Bain Capital entities, including buyout and investment funds. The private equity business continued to thrive, earning him millions of dollars in annual income. During his business career, Romney held several positions in
13344-441: The firm had concluded its role. Exactly how many jobs Bain Capital added compared to those lost because of these investments and buyouts is unknown, owing to a lack of records and Bain Capital's penchant for privacy for itself and its investors. Maximizing the value of acquired companies and the return to Bain's investors, not job creation, was the firm's primary investment goal. Bain Capital's acquisition of Ampad exemplified
13483-498: The firm to keep people motivated, often keeping less than 10% for himself. Data-driven, he often played the role of a devil's advocate during exhaustive analysis of whether to go forward with a deal. He wanted to drop a Bain Capital hedge fund that initially lost money, but other partners disagreed with him and it eventually made billions. He opted out of the Artisan Entertainment deal, not wanting to profit from
13622-672: The firm to return substantial amounts, and persuaded creditors, including the Federal Deposit Insurance Corporation , to accept less than full payment. Within about a year, he led Bain & Company to a return to profitability. He then turned it over to new leadership and returned to Bain Capital in December 1992. Romney took a leave of absence from Bain Capital from November 1993 to November 1994 to run for U.S. Senate. During that time, Ampad workers went on strike and asked Romney to intervene. Against
13761-439: The firm, and conducting prolonged negotiations for the terms of his departure. He did not involve himself in the firm's day-to-day operations or the investment decisions of its new private equity funds. He retained his position on several boards of directors during this time and regularly returned to Massachusetts to attend meetings. In August 2001, Romney announced that he would not return to Bain Capital. His separation from
13900-559: The first five races. Power captured his first oval win at Texas Motor Speedway and came into the season finale at Las Vegas 18 points behind leader Dario Franchitti. However, on lap 11 of the race, Power was collected in a fiery 15-car crash that killed defending Indianapolis 500 winner Dan Wheldon . The race was cut short in Wheldon's honor and the championship points stood as they had to enter Las Vegas, giving Franchitti his third consecutive driver's title (and fourth overall). Penske finished
14039-427: The first time in sixteen seasons. In 2024 , Team Penske incurred controversy when Josef Newgarden was disqualified from his season opening win at St. Petersburg for having illegally manipulated ECU software to allow for push to pass to be used on the race restarts, marking the first time the team had been stripped of an IndyCar win since Al Unser Jr.'s 1995 win at Portland. Unlike that race, Penske elected not to appeal
14178-590: The governor's office. Romney took up residence at Cranbrook when his newly elected father began spending most of his time at the state capitol . At Cranbrook, Romney helped manage the ice hockey team, and joined the pep squad . During his senior year, he joined the cross country running team. He belonged to 11 school organizations and school clubs , including the Blue Key Club, a booster group he had started. During his final year there, his academic record improved but fell short of excellence. Romney
14317-403: The lake. Disagreeing about the license and wanting to continue a family outing, Romney took it out anyway, saying he would pay the fine. The ranger arrested him for disorderly conduct . The charges were dropped several days later. In 1983, on a 12-hour family road trip, he placed the family's dog in a windshield-equipped carrier on the roof of their car , and then washed the car and carrier after
14456-495: The layoffs that sometimes occurred, Romney said in 2007: "Sometimes the medicine is a little bitter but it is necessary to save the life of the patient. My job was to try and make the enterprise successful, and in my view the best security a family can have is that the business they work for is strong." In 1990, facing financial collapse, Bain & Company asked Romney to return. Announced as its new CEO in January 1991, he drew
14595-471: The loss of the win and Tim Cindric was banned from the Penske paddock for several races. The team however did have a strong start to the season, with all three of their drivers picking up wins in the first seven races and Newgarden becoming the first driver since Helio Castroneves to win back to back Indianapolis 500s, giving Penske their 20th Indianapolis 500 win. Penske's 1994 IndyCar World Series Championship
14734-705: The next day, they flew to Utah for a Mormon wedding ceremony at the Salt Lake Temple ; Ann had converted to the faith while he was away. Romney had missed much of the tumultuous anti-Vietnam War movement in America while in France. Upon his return, he was surprised to learn that his father had joined that movement during his unsuccessful 1968 presidential campaign . George was now serving in President Richard Nixon's cabinet as United States Secretary of Housing and Urban Development . In
14873-601: The now-abandoned Marlboro Motor Raceway in Upper Marlboro, Maryland . Sports Illustrated named him SCCA Driver of the Year in 1961. He competed in two Formula One Grands Prix and won a NASCAR Pacific Coast Late Model race at Riverside in 1963. He never ran the Indianapolis 500 : he was offered a rookie test at Indianapolis with the Dean Van Lines team. Penske continued racing until 1965, when he retired as
15012-574: The only time when "most of what I was trying to do was rejected." Romney soon gained recognition within the mission for the many homes he called on and the repeat visits he was granted. He became a zone leader in Bordeaux in early 1968, and soon thereafter became an assistant to the mission president in Paris. While in Paris, Romney resided at the Mission Home for several months, and enjoyed
15151-470: The pioneer Trans-Am team, Jocko's Racing which won the 1976 Trans-Am Series championship in a Penske-leased car. Penske Racing entered a Lola T70 in the 1966 Can-Am Series for Mark Donohue , resulting in one win at Mosport . In 1967, Penske Racing entered two Lolas, one for Mark Donohue and one for George Follmer . 1968 saw Penske switch to a McLaren M6, which had won the series in 1967. Donohue won one race that year in Can-Am at Bridgehampton . With
15290-588: The prototype (P) class. To prepare their debut in 2018 season, Team Penske took part in the last race of 2017, the Petit Le Mans using the Oreca 07 LMP2 (same framework that the Acura DPi was based on), placing third. 2018 line-up: 2019–2020 line-up: In 2019 Team Penske won the drivers championship with Juan Pablo Montoya and Dane Cameron , while Hélio Castroneves and Ricky Taylor finished 3rd on
15429-485: The season but managed to find victory lane at Sonoma. However, Power would come up short in the championship after a crash at the season finale. Briscoe left the team after 2012 for other opportunities. In 2014, Will Power took the IndyCar Championship for Team Penske after 3 concurrent runner up finishes in 2010–2012. The 2015 season started well for Team Penske, Juan Pablo Montoya won the first race of
15568-431: The season finale. For 2023 , Team Penske would return to the winner's circle at Indianapolis, with Josef Newgarden clinching the 107th Indianapolis 500 , becoming the first American driver to win the race since 2016. 2023 was otherwise a difficult season for the team; only one of their drivers finishing in the top three of the IndyCar points standings, only winning one road course event, and Will Power recorded no wins for
15707-533: The season, his second win for Penske since he arrived from NASCAR in 2014, with teammates Will Power, Helio Castroneves, and Simon Pagenaud (first season with the team) finishing 2nd, 4th, and 5th. Power got a win at the Grand Prix of Indianapolis in the 5th race of the season and just 2 weeks later, the Colombian Montoya won the Indy 500 leading again teammate Will Power. Juan Pablo Montoya would lose
15846-461: The staging of a U.S. Olympics. An additional $ 1.1 billion of indirect federal funding came to the state in the form of highway and transit projects. Romney emerged as the local public face of the Olympic effort, appearing in photographs, in news stories, on collectible Olympics pins depicting him wrapped by an American flag, and on buttons carrying phrases like "Hey, Mitt, we love you!" Organizing committee chair Robert H. Garff later said, "It
15985-522: The team qualify Simona De Silvestro at the last spot on the starting lineup, though De Silvestro and the Penske prepped car would fail to finish the race. Scott McLaughlin would be named both IndyCar and Indianapolis 500 Rookie Of The Year while Josef Newgarden was able to finish in second place in the championship for a second consecutive season. For 2022 Simon Pagenaud departed the team for Meyer Shank Racing , bringing Team Penske back down to three full-time IndyCar entries. The team would struggle again at
16124-462: The team would shut down its Grand-Am Rolex Sports Car Series operations and be turned into the new No. 12 Verizon sponsored IndyCar for Will Power to run full-time in 2010. In 2017, it was announced that Team Penske would make a comeback to sportscar racing in IMSA's WeatherTech SportsCar Championship in a 3-year partnership with Acura , starting in the 2018 season, running 2 Acura ARX-05 DPis in
16263-471: The team's Mooresville North Carolina facility; with the flooding in Pennsylvania in 2006, the team's operations were moved to Mooresville earlier than expected. Roger Penske has been involved with IndyCar racing since 1968, when his team first fielded a stock block -powered Eagle with Mark Donohue . The organization first competed at Indianapolis in 1969, where Donohue was named rookie of
16402-454: The team's former champions would see their worst years with Team Penske. Both Will Power and Josef Newgarden recorded the lowest win totals of their Team Penske tenures in 2021 and had easy victories at Detroit and Road America taken away from them in the closing laps due to mechanical failures, while Simon Pagenaud was only able to record two third-place finishes as his best result of the year. The team also recorded their worst Indianapolis 500
16541-420: The ultimate evolution of the 917, the 917/30. The rules were changed for 1974, and Penske raced only once this year. A Lola T70 Mk IIIb entered by Penske was the surprise winner of the 1969 24 Hours of Daytona . During the 1970 season, the competition between the 5-liter sportscars of Porsche and Ferrari turned to the advantage of the Porsche 917 . In 1971, Ferrari decided to give up any official effort with
16680-834: The unpopularity of the Democratic Congress as a whole, and in part because this was Kennedy's first election since the William Kennedy Smith trial in Florida, in which Kennedy's reputation had suffered. Romney changed his affiliation to Republican in October 1993 and formally announced his candidacy in February 1994. In addition to his leave from Bain Capital , Romney also stepped down from his church leadership role in 1994. Radio personality Janet Jeghelian took an early lead in polls among candidates for
16819-460: The whole of BYU. The Romneys' first son, Taggart , was born in 1970 while they were undergraduates at BYU and living in a basement apartment . Their son Matthew was born in 1971 and Joshua in 1975. Benjamin (1978) and Craig (1981) were born after Romney had begun his career. Romney wanted to pursue a business career, but his father advised him that a law degree ( Juris Doctor ) would be valuable to his career even if he never practiced law. As
16958-456: The wife of the mission president. Romney then became co-president of a mission that had become demoralized and disorganized after the May 1968 general strike and student uprisings and the car accident. With Romney rallying the others, the mission met its goal of 200 baptisms for the year, the most in a decade. By the end of his stint in December 1968, he was overseeing the work of 175 others. As
17097-421: The year. In 1971, Donohue scored the first win for Team Penske in IndyCar at the Pocono 500 . Donohue won the team's first Indianapolis 500 in May 1972 . In 1978, Penske along with Pat Patrick , Dan Gurney , and several other team owners who had been participating in USAC events involving cars known as Champ Cars and IndyCars formed Championship Auto Racing Teams ( CART ). As of May 28, 2023, Team Penske has won
17236-418: The years spent as an LDS minister gave him direct exposure to people struggling financially and empathy for those with family problems. For much of his business career, Romney did not take public political stances. He had kept abreast of national politics since college, and the circumstances of his father's presidential campaign loss had irked him for decades. He registered as an Independent and voted in
17375-487: Was 113% and its average yearly return to investors was around 50–80%. Starting in February 1999, Romney took a paid leave of absence from Bain Capital in order to serve as the president and CEO of the 2002 Salt Lake City Olympic Games Organizing Committee . Billed in some public statements as keeping a part-time role, Romney remained the firm's sole shareholder, managing director, CEO, and president, signing corporate and legal documents, attending to his interests within
17514-488: Was announced on April 2, 2002. The team's partnership with Toyota engines started well in 2003 including winning the 2003 Indianapolis 500 in the hands of Gil de Ferran . However, Team Penske's Toyota partnership started to decline in 2004 by scoring only two wins, five pole positions, and three fastest laps compared to 2003 due to driver errors and also incidents. The team also resurged slightly in 2005 with just only three wins and two pole positions. On October 31, 2005, it
17653-498: Was announced that Team Penske ended their engine deal with Toyota and switched to Honda with an initial five-year deal. Penske had collaborated with Honda engines in the 2000–2001 CART Champ Car season. After a prolonged period, the team announced Hélio Castroneves and Sam Hornish Jr. as their official race drivers. Despite the Honda partnership, Penske had a de facto direct Honda factory support, with engines coming straight from
17792-479: Was born in Shaker Heights, Ohio , in 1937. Born to a devout Episcopalian family, Penske was heavily involved with his church as a boy, singing in the church's choir and serving in the ministry as an acolyte . His father, Jay, was a successful corporate executive for a metal fabrication company and encouraged his son to become an entrepreneur. As a teenager he bought older cars, repaired them and sold them at
17931-681: Was forced to adapt the Penske IndyCar car, as Briscoe was entering his first season with Team Penske after spending two years as an IndyCar part-timer whilst he raced in the Champ Car World Series in 2006 and later the American Le Mans Series in 2007. Ryan Briscoe finally scored his first win at the Milwaukee Mile while Castroneves claimed his first 2008 win in Infineon Raceway . Castroneves nearly won
18070-417: Was involved in several pranks while attending Cranbrook. He has since apologized for them, stating that some of them may have gone too far. In March of his senior year, he began dating Ann Davies ; she attended the private Kingswood School , Cranbrook's sister school. The two became informally engaged around the time he graduated from high school in June 1965. Romney attended Stanford University during
18209-440: Was much more promising than the first with the team coming close to defending their Indianapolis 500 victory, as well as their IndyCar Series driver and team titles. However, the team slumped, scoring only two victories due to driver errors and incidents. The team failed to win major IndyCar silverware for the first time since the 2005 season. On November 9, 2007, Sam Hornish Jr. announced he would depart from IndyCar Series to
18348-411: Was no financial or professional risk to Romney. Bain and Romney raised the $ 37 million needed to start the new operation, which had seven employees. Romney held the titles of president and managing general partner. Though he was the sole shareholder of the firm, publications also called him managing director or CEO. Initially, Bain Capital focused on venture capital investments. Romney set up
18487-480: Was nonideological and did not involve himself in the political issues of the day. Romney graduated from Harvard in 1975. He was named a Baker Scholar for graduating in the top 5% of his business school class and received his Juris Doctor degree cum laude for ranking in the top third of his law school class. After receiving his JD–MBA from Harvard, Romney passed the Michigan bar exam but decided to pursue
18626-450: Was obvious that he had an agenda larger than just the Olympics", and that Romney wanted to use the Olympics to propel himself into the national spotlight and a political career. Garff believed the initial budget situation was not as bad as Romney portrayed, given there were still three years to reorganize. Utah Senator Bob Bennett said that much of the needed federal money was already in place. A Boston Globe analysis later found that
18765-507: Was one of, if not the most dominating performance from a race team in the history of American open-wheel racing. Roger Penske had found the key to win but also found a way to run from the competition. The new Penske PC-23 chassis with the Ilmor - Indy V8 engine would power the Penske drivers of Al Unser Jr. , Paul Tracy , and Emerson Fittipaldi . The team racked up 12 wins out of 16 races, collecting 10 poles and 28 podium finishes on their way to
18904-681: Was rookie Jacques Villeneuve . This one season gave Penske the Driver's Championship with Al Unser Jr. , Constructor's Cup with the Penske PC-23, and Manufacturer's Cup with the Ilmor-Indy V8 engine. (In the 1995 Indy 500 Penske failed to qualify any cars for the race) Cigarette brand Marlboro had been a sponsor with Team Penske since the 1989 Indianapolis 500 , and primary sponsor of all Team Penske IndyCars since 1991. Late in 2005, Team Penske announced that Marlboro would not appear on
19043-525: Was the Republican Party 's nominee for president of the United States in the 2012 election . Raised in Bloomfield Hills, Michigan , he spent over two years in France as a Mormon missionary . He married Ann Davies in 1969; they have five sons. Active in the Church of Jesus Christ of Latter-day Saints (LDS Church) throughout his adult life, Romney served as bishop of his ward and later as
19182-434: Was the result of an aerodynamic configuration that favored downforce over drag, which helped in the twistier sections. The car did not have much luck in the race though. In April 2005, it was announced that Porsche would build an Automobile Club de l'Ouest (ACO) sanctioned LMP2 Class Prototype that would be entered by Penske Racing in the American Le Mans Series and thus formally competed as DHL Porsche Penske Racing in
19321-514: Was tuned by CanAm V8 specialist Traco, and was probably able to deliver more than 600 hp (450 kW). As of today, it is unknown to what extent Penske's initiative was backed by Ferrari works. This 512M was painted in a blue and yellow livery and was sponsored by Sunoco and the Californian Ferrari dealer Kirk F. White. The car made the pole position for the 1971 24 Hours of Daytona and finished second despite an accident. For
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