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In a move sure to spark outrage, the White House announced today that GM and Chrysler must cease participation in NASCAR at the end of the 2009 season if they hope to receive any additional financial aid from the government. Companies around the globe—Honda and Audi, to name two—have drawn down racing operations, and NASCAR itself has already felt the pinch in the form of reduced team spending. A complete withdrawal from America’s premier racing series is expected to save more than $250 million between GM and Chrysler, a substantial amount considering the drastic measures being implemented elsewhere.
The statement goes on further to say the same demand will be made of Ford if it asks for government assistance. “In order to receive this money, corporations must demonstrate they will spend it wisely. Racing has been said to improve on-road technology, but frankly, NASCAR almost flaunts its standing among the lowest-tech forms of motorsport. NASCAR is not proven to drive advancements that transfer from the racetrack to the road, and this nation’s way forward does not hinge on decades-old technology. We need new, and we need innovation.”
The President realizes this will be an unpopular call, but stands behind the decision, saying, “This is an obvious cut to make, but it is not an easy one. This administration is not ignoring the tremendous sentimental value and emotional appeal NASCAR holds for so many Americans. But now is not the time for sentiment and nostalgia; now is a time for decisive financial action. If our automotive industry is to emerge from this recession intact, then these difficult decisions must be made.”
Both Chevrolet and Dodge see the move as only temporary, and fully expect to resume racing in NASCAR as soon as they have stabilized and the government’s hand in their operations is minimized. “There is nothing really to say at this point,” said one representative, who wished to remain anonymous. “We’ve been doing this since the beginning, and we always assumed we’d be doing this until the end. Heck, nobody ever thought to think that there would be an end. But we ain’t done. As soon as this is over, we’re taking back our spot at the top.”
NASCAR officials remain tight-lipped about the call, but sources say series president Mike Helton and team managers are exploring several options, including other manufacturers to fill Chevrolet and Dodge’s vacated positions. Given the company’s recent interest in motorsport and the steady cash-flow and V-8 engine provided by its new Genesis sedan, sources indicate that NASCAR is pinging Hyundai to gauge the Korean company’s interest in occupying a spot in NASCAR. “Toyota was not well-received their first year in the sport, nor was their first season an easy one,” the source says. “But they learned, they applied the lessons, and they have proven very competitive this year.”
If Hyundai does indeed join the series, there will no doubt be a steep learning curve, and the move would leave Ford the lone domestic battling a pair of Asian makes in America’s most popular racing series. We wonder, however, how long NASCAR could hold that title without two of its most storied participants.This topic is deleted.
Tom All I can say is I told you it would come to this. AIG can get bills wrote to dole out millions in bonuses to Franks boyfriends and Dodd was paid by AIG to makes sure they were safe. Obama all the sudden thinks he's king and ruler of the world. What legal right does he have to fire Ceo's of privately held companies? Lets see Government messes up this country and now they want control of everything.
How did Government mess up this country?
#1 They would not allow us to tap our own natural resources. This in turn allowed the middle east to raise the price of gas. When reaching $4.00 a gallon or better the economic pinch began. Trucks and SUV'S sales declined. Drill now drill here. to futher hurt this country they just passed a law making it almost impossible to drill in Colorado. Why would we make it harder to get the energy we need here from here?
#2 Barney Frank and Chris Dodd. Barney was blowing his boyfriend in AIG while he was blowing through money. Now We have to bail them out. THey caused the great financial crisis we are suffering through now. Yet right in bills with the bail out providing them with our money to dole out to who ever they wish. Then Dodd Denys he wrote it 4 times then the next day "well they made me do it" Liar, crook, and soon to be ex-senator from Conneticuit. Obama stamps his feet because he hears the polls and how America feels so he says "I'm mad as hell about this" Liar, socialist, deceiving, destroyer of this country. Now he is out to get our sport. Yet what GM and Dodge do is advertising. I still see adds for AIG and other banks we bail out do they have to stop advertising? Goes to show that I was right all along. America is starting to come down from the koolaid and the realism that they are dealing with is they made a huge mistake.
Thats a good start for now. My solution to all of this. Tell Obama and the government and the unions all To F' off!!! File bankruptcy and reorganize. You will at least have a Judge on your side. I'm willing to bet he drives an American car. Dodge has been there before and came back. It wasn't easy but I'm willing to bet more and more Americans will buy American Now that Obama was stupid enough to say we will enforce your warranties. Anyone who voted for him quite obviously drank to much koolaid. Because all the signs were there but people are just plain stupid I guess. No experience and a host of friends that really should be in jail or not in this country. Nominees who can't pay their taxes. Even the one who now runs the IRS. Hell If I don't pay my taxes can I get a job Barack? It seems to be a requirement for being appointed by you.
Because your buddies Frank and Dodd messed up banking so bad this country is heading for a depression. Even people with good credit can't by cars or houses. Yet your gonna come down on what once lead this country. While Franks Boyfriends are getting fat off us. The only thing going for this country is that the world needs us to come out of this. They can't survive with out us buying their stuff. So watch how other nations are now blasting Obama and his free for all spending tactics.
Now that he weakened the security of the country. I hope he is in Washington when the terror attacks hit. Now the stakes are high for him. With threats from terrorist maybe he'll get a sense of realism. I doubt it he'll just drink more koolaid and throw money we don't have at it.
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'making it almost impossible to drill in Colorado'
we've had a couple of steady derricks pop up in the mountains, my band played up in a few of the towns, but they are excessively regulated. I'm pretty sure it's impossible for the owners to make money.
Isn't nascar the biggest spectator sport in america? Holy cow, i wonder if obama is really ready to start that fight? What if he's just weakening us to the point of civil unrest? Does anyone think 'the south could rise again?' Seems like those are the folks that stand to be really pissed about this move in particular. And he's going to be f*cking with blue-collar joe that doesn't usually give a crap about washington, and who is blowing who. This is going end very badly. All the blue collar dudes i know are pretty mean, and they own guns...i'm just sayin...how much will we take?
I may survive on a steady diet of kool-aid, and amp energy for that matter, but at least i didn't vote for this crackhead. I voted libertarian. I know, i know, it was a wasted and uninformed vote. i figured if i was going to flush it anyways, i didn't want to vote for this crap...and mccain scared me a little. excuse me while i pat myself on the back and try to figure out how to feed my kids...
Motor, as to #1 I believe there is a madness as too why we have not tapped our own natural resources. Lets use up foriegn countries first. Save ours in case we get shut out from foriegn oil as in a war or boycot. I believe this is why the oil companies pay landowners not to drill. Atleast here in Michigan I know farmers getting these checks. I also hear that there are oil tankers docked in coastal waters waiting to get the price they want for the oil.
The White House, with concern for the auto industry, emission standards and fans in general have offered an alternative.
See at : http://www.thesmokinggun.com/archive/years/2009/0331091stool1.html
- 2 Replies to Roushkateers
They talked about this on Larry King Live before they got the bail out money. At that time it was just speculation that NASCAR would only have Toyota. But I can see that new Tata Nano motors running their car, LOL Man wish I could get one of those for $2000 bucks breaks down throw it away and get another