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Penske's merger deal with ISC provided for three board seats. If his stock holdings were sold below a certain level, he relinquished board seats accordingly. He sold stock and used the proceeds to prop up his United Auto holdings. In doing so, he gave up two board seats, his own and Walt Czarnecki's. His son, Greg, remains on the ISC board and remains as GM at Fontana. There is no racing "action" going on.
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