| As we all know, the auto makers have been going | | | | Earnhardt Ganassi, Stewart Haas, and Richard |
| through a brutal period. Japanese, German, American, | | | | Childress Racing all drive Chevrolets. These teams |
| French - it doesn't matter where they are from. All | | | | include such notable drivers as Jimmie Johnson, Tony |
| indications are GM is going to file bankruptcy. From a | | | | Stewart, Jeff Gordon, Mark Martin, Dale Earnhardt Jr., |
| motorsports perspective, the question is what | | | | Ryan Newman, Kevin Harvick, Jeff Burton, and Martin |
| happens to NASCAR? | | | | Truex. All could be thrown into turmoil. |
| GM lost over 30 billion dollars in 2006. It just lost | | | | If GM were to file bankruptcy tomorrow, the fallout |
| another 30 billion in 2008. The company is in horrific | | | | would be tremendous. All contracts GM has agreed |
| shape and it appears there is no way it can hold off | | | | to suddenly are frozen. The bankruptcy court can |
| filing bankruptcy. The powers that be at GM, the | | | | cancel them if it so desires. This effectively means |
| unions and the government have been trying to find | | | | any supplier to GM or these teams is going to be |
| a solution, but the business model appears to simply | | | | worried about not being paid. In such a situation, all |
| be a dud in these modern times. | | | | the Chevrolet teams will face a credit crisis. The hope |
| There are many questions about what a bankruptcy | | | | would be that NASCAR would step in and provide a |
| filing would mean. What about all the retired GM | | | | guarantee of payment, but there are no clear |
| workers who are living off of pensions and a health | | | | indications NASCAR is in a position to do that. |
| plan that can no longer be supported? What about | | | | Most people can't picture GM actually being liquidated, |
| the current workers? These are serious questions | | | | but you should open your eyes. The company is not |
| that have no nice and clean answers. Bankruptcy is | | | | going through a bump in the road, it is going through |
| going to be brutal. | | | | a major bloodletting. A company that loses $30 billion |
| Motorsports are just that...sports. They are obviously | | | | dollars a year before the current recession hit [2006] |
| not as serious as real life issues like people losing their | | | | doesn't need a "little help". It has fatal flaws. |
| jobs. Still, one has to consider what will happen to the | | | | A more reasonable guess of the outcome of any GM |
| NASCAR series when GM files. If health plans are | | | | bankruptcy would be the company would be broken |
| being canceled, you can be a bankruptcy judge is not | | | | up into smaller pieces and sold off - a great American |
| going to look positive on spending money on auto | | | | institution put out of its misery. If this comes to be, |
| racing. This could lead to a massive amount of turmoil | | | | the NASCAR season is going to be a disaster with |
| in NASCAR. | | | | half the teams suddenly having no cars and parts. |
| Consider the Sprint Cup, the top series in NASCAR. | | | | What a mess. |
| The big GM brand is Chevrolet. Teams like Hendrick, | | | | |