Monday, July 21, 2008
NASCAR Event of the Day
GM says it will cut back motorsports advertising, putting in jeopardy its sponsorships of teams, tracks and all the ancillary marketing that goes with racing. Expected among the biggest losers is NASCAR-related spending of an estimated $120 million to $140 million a year. —Sharon Silke Carty reporting in "Caution flag flies on GM's motorsports budget"
For the working class white man the failure of a bank or two may not merit much attention, but this sort of news hits home.
David Welch of BusinessWeek
Here’s a company in crisis that can’t afford enough advertising for its bloated family of eight brands, and they have been blowing more than $100 million a year on NASCAR.
But then he takes the rather snobbish view of NASCAR that has helped Republicans get elected—
The circuit strictly legislates body dimensions, chassis engineering and engine size so you don’t get new technology on the track. The cars still have carburetors and only recently got rid of leaded fuel! It’s yesteryear’s race cars running around in circles. A Luddite’s paradise.
If the trend continues I may be able to enter my car. Maybe Rent-a-Wreck will sponsor.
But my sports preferences aren’t the ones that matter here. For the Big Three [automakers], NASCAR speaks to the working class white guys who already love their trucks and suvs. It preaches to the choir. To the people on the coasts who drive Japanese and European cars, it affirms the red neck, Midwestern and unsophisticated image that most American brands carry. This will enrage some people.
Yes it will. Which leads to the question of how many Republican candidates will be showing up at NASCAR events this year—and how many working class white guys will continue to vote for them.