CUP: GM, Chrysler Not Told To Pull Out
Written by: Tom Jensen
04/01/2009 - 10:42 AM
Harrisburg, NC
While former GM President Rick Wagoner got the boot, contrary to rumors, NASCAR is still in the game. (Photo: Autocar) » More Photos
Contrary to a well-timed April Fool’s hoax and swirling Internet rumors, the Obama administration has not ordered General Motors and Chrysler to pull out of NASCAR as a condition to receiving federal bailout money, representatives of both automakers have confirmed to SPEEDtv.com.
With GM and Chrysler facing the most serious challenges to their existence, no one is certain what will happen in the future, as it pertains to racing or any other part of the two companies. The New York Times reported Wednesday that the Obama administration is seeking force GM into a controlled bankruptcy that would split the company into two pieces, a “good” GM which contained the Chevrolet and Cadillac divisions, and a “bad” GM that housed everything else.
After orchestrating the ouster of GM Chairman Rick Waggoner and several GM board members, Obama has given the embattled automaker’s leadership 60 days to come up with a restructuring plan. Chrysler, meanwhile, was given half that time to conclude a sale to Italian automaker Fiat.
But despite numerous Internet rumors — and one April Fool’s Day hoax story that appeared on an auto enthusiast magazine web site — there has been no official word from Washington that GM and Chrysler have to leave NASCAR. None of Obama’s comments this week about the automakers addressed auto racing or NASCAR, and representatives from the automakers confirmed they have not been told to pull out of NASCAR.
NASCAR Sprint Cup owner/driver Tony Stewart said Tuesday that he is confident of GM’s determination to remain in NASCAR. “I know that talking to the people at Chevrolet they're very committed to the racing program,” Stewart said. “They realize
the value of it with not only the rest of corporate America but what it does to our nation. It still goes back to ‘win on Sunday, sell on Monday.’ This is a sport that's been good for the auto industry and vice versa.”
And that had Stewart optimistic. “I know it's a tough time for them, but they're very committed to not only the racing product, but also the products that they build for the Americans out there in tough times,” he said. “I'm very confident that the racing side is going to be fine. How it's affected, I think only time will tell. But talking to the people at GM, I mean, they're very committed to this program and understand the value of the racing side.”
