MWR In Trouble?

[BobbyFord]

From Jayski's...

...been hearing that there might be trouble over at Michael Waltrip Racing. It seems that they are laying people off, telling them that it is because of financial issues. The team currently fields three Sprint Cup cars, the #00, the #44 and the #55, and one Nationwide Series car, the #99. This year Waltrip brought on a partner, Robert Kauffman, after suffering huge losses on renovations for his Cornelius, NC race shop and a bad 2007 season. Primary sponsor UPS is also pulling out of the team at the end of this season.(NASCAR Insiders[the site seems down now], a site that claims to be two NASCAR insiders, including a crew member and journalist)(6-9-2008)

I thought they were in trouble when Mikey chose to remain a driver.

 

[RCR4Life]

The best they could di is put David in the 55, loose the other two cars and the busch car. They are trying to be to big of a team.

 

[buckaroo]

The best they could di is put David in the 55, loose the other two cars and the busch car. They are trying to be to big of a team.

I agree with you on this one. Though we still don't know the true value of McDowell, we do know that Michael is at best, a journeyman driver who hasn't done diddle in his career with the exception of a few races at Daytona and Taladega. But Michael is like Kyle Petty and that is that they love to race and feel that's their only way of keeping in the sport. One thing we can count on is if and when Micael does hang up the helmet, he'll be more visible on the tube. Jeez, can you imagine both Mikey and DW on the same show?

 

[RCR4Life]

Yea double trouble....

 

[Bucky Badger]

 

[Digger]

I agree with you on this one. Though we still don't know the true value of McDowell, we do know that Michael is at best, a journeyman driver who hasn't done diddle in his career with the exception of a few races at Daytona and Taladega. But Michael is like Kyle Petty and that is that they love to race and feel that's their only way of keeping in the sport. One thing we can count on is if and when Micael does hang up the helmet, he'll be more visible on the tube. Jeez, can you imagine both Mikey and DW on the same show?

McDowell's damn good. But, he was not ready for Sprint Cup. Just like Stuart Kirby a few years ago, jumped right into Cup. But, you've got to go where the offers are. And the Nationwide teams aren't putting developing drivers in racecars. Instead, Jack Roush, Joe Gibbs and Richard Childress decide to swamp the series with Sprint Cup drivers.

This is the fundamental problem with NASCAR as it is, Nationwide is just a Sprint Cup Series test session. Nationwide-only drivers account for a whole 2 wins.

 

[barelypure]

From 10/07 thru 03/08 MWR had increased by 26 employees. They have had over 200 employees during that time. Are the layoffs a sign of trouble or just a correction to the numbers they need? I do find it odd that Mikey makes almost no money from his TV endeavors. As to how much he is paid by MWR, well he did take a small pay cut but probably not enough to affect his hair gel budget.

 

[BobbyFord]

UPDATE: from a Michael Waltrip Racing PR - There is a rumor that reports MWR has fallen on tough times and may go away. Is that true? Waltrip says, "I fancy myself as being a friend to one of the Web sites that is reporting that. But I have to say that the rumor is probably one of the most ridiculous things I have read on the internet. We are probably on as good of footing financially as anyone in the garage area. We are focused on the future. When you are a new team, a lot of times there is turnover. There is reorganization. That is what is going on at MWR and will continue to happen until we hit our stride. We are not in any peril as being reported. We are very into what we are doing and what we need to do to be successful."(MWR PR)(6-10-2008)
UPDATE2: "In response to the baseless comments posted on an anonymous web site this week, I want to be clear that categorizing Michael Waltrip Racing as anything other than growing would be incorrect," said Calvin Wells III, Executive Vice President and Chief Operating Officer at Michael Waltrip Racing. "The partnership formed between Michael Waltrip and Rob Kauffman last October has allowed MWR to meet our short-term objectives while setting the course for our long-term success. MWR is financially sound but fiscally responsible, as all race team owners should be. We have made some recent moves to re-allocate our funds towards areas which will maintain long-term success for MWR, including significant capital investments in equipment, continued expansion of our engineering staff, a more concentrated effort with our test team and the expansion of our Sales/Marketing division with the recent hiring of a Chief Marketing Officer, while broadening our alliances with Toyota Racing Development and other technology partners. In only our second year, MWR maintains a growth pattern towards success and continues to be a destination point for fans, employees, drivers and sponsors, just as Michael Waltrip believed it would be when he embarked on this life-long dream two years ago."(Michael Waltrip Racing)(6-11-2008)