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Dodge and Chevy leaving NASCAR? Not Yet
The three major car racing circuits -- Formula One, NASCAR, and Indy Car -- have built a multibillion dollar business. Formula One revenue, including sponsorships and broadcast fees, is estimated at $3.9 billion a year, which is more per event than either the NFL or The Premier League of soccer clubs. Toyota has elected to pull out of Formula One because of cost considerations. The world's largest car company has lost money for more than a year. Reuters estimates that Toyota has spent $300 million per year on its Formula One campaign. Honda (HMC) pulled its cars from the circuit earlier this year.
The Toyota retreat can be added to news that the Obama Administration has pressured Chevy and Dodge to pull out of the NASCAR racing series to save $250 million a year. The two companies have been pillars of NASCAR and there are no other auto firms with large enough budgets to replace them.(MSN's Money Central blog by Top Stocks writer Douglas A. McIntyre, an editor at 24/7 Wall St), however, both GM/Chevy and Dodge reps have said over and over, that both Chevy and Dodge are committed to the sport, for at least 2010 anyway. See my Dodge News page and Chevy News page for those statements.(11-5-2009 Jayski.com)
Yes it would've saved money and "Win on Sunday, sell on Monday" isn't what it used to be....but the Government barging in on NASCAR....really? I thought it was just a rumor last spring. Wow.
But I guess that's what you get for dealing with the devil that is Washington.
Government wanted GM/Chrysler out
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Veteran
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I really don't want my Tax Dollars to pay for NASCAR.
PS. Don't believe any corporate statement or press release, especially when they are in financial trouble.
PS. Don't believe any corporate statement or press release, especially when they are in financial trouble.
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....but the Government barging in on NASCAR....really?Happens everytime that party gets in office.
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The above statements are my opinions unless otherwise stated
Abnormal User
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It happens because the other people have gone out and forgotten to close the door, leaving behind a huge mess that somebody else has to clean up.
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uncledive
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Times they are a changing.
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#11, #1, #88, #14, #19, #29, #39, #31
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You can't fault them for asking how effective that $250 million is, advertising-wise...
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have a nice diurnal anomaly…
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It happens because the other people have gone out and forgotten to close the door, leaving behind a huge mess that somebody else has to clean up.nothings really being cleaned up
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The above statements are my opinions unless otherwise stated
Abnormal User
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It happens because the other people have gone out and forgotten to close the door, leaving behind a huge mess that somebody else has to clean up.nothings really being cleaned up
Nor will it be.
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uncledive
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It happens because the other people have gone out and forgotten to close the door, leaving behind a huge mess that somebody else has to clean up.
Well somebody is gonna be cleaning up a hell of a mess come 2012.
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You can't fault them for asking how effective that $250 million is, advertising-wise...
No, you can't. I'm surprised they're still there.
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uncledive
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You can't fault them for asking how effective that $250 million is, advertising-wise...Well like I said when this all began. I think pulling out of racing would actually do more harm than good. There are still quite a few race fans who do buy based upon racing sponsorship. If they cut and ran from nascar or other racing I actually think it would just add to their problem of dwindling car sales. Obviously win on sunday sell on monday is nothing like it was in the 60s 70s and 80s but Im just guessing that manufacturers still get a hefty bit of their sales from auto racing advertisement
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The above statements are my opinions unless otherwise stated
