Here comes the economy.
General Motors (GM) has started taking it's cost cutting measures as they trim the excess spending that's been bleeding them dry in this economy. At present, GM has contracts with 12 NASCAR tracks. The first two tracks to take the hit are Speedway Motorsports Inc. tracks
On top of these two moves, NASCAR is not the only avenue of cost cutting measures. They are also suspending its stock dividend and will sell up to $4 billion in assets.
Of a quick note: Richmond International Raceways contract with GM runs through 2010 and that includes being the title sponsor for the The Chevy Rock and Roll 400 and Chevy's status as the official vehicle of the track.
Source: http://www.inrich.com
General Motors (GM) has started taking it's cost cutting measures as they trim the excess spending that's been bleeding them dry in this economy. At present, GM has contracts with 12 NASCAR tracks. The first two tracks to take the hit are Speedway Motorsports Inc. tracks
- Bristol Motor Speedway and
- New Hampshire Motor Speedway.
On top of these two moves, NASCAR is not the only avenue of cost cutting measures. They are also suspending its stock dividend and will sell up to $4 billion in assets.
Of a quick note: Richmond International Raceways contract with GM runs through 2010 and that includes being the title sponsor for the The Chevy Rock and Roll 400 and Chevy's status as the official vehicle of the track.
Source: http://www.inrich.com
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