Not this inaccuracy again...
The owners in Formula One clearly don't agree with that view. They have exactly the same opportunity as this one, and their response wasn't just no, but HELL NO.
The three current Cup engines have been created from whole cloth with no relationship to production engines, so Honda would just have to design an engine that falls into the box NASCAR gives them. If Honda knows anything, they know engines, so I don't think it would be too difficult for them. They would likely try to hire some key people away from ECR, HMS, Roush Yates or TRD to guide and validate their designs.
Plenty of engine builders out there. Honda isn't going to re-invent the wheel. They have to get within legal parameters and there are plenty of builders out there already doing that with push rod V8's.
Honda have built a number of bespoke V8 racing engines for various series in the past, so it wouldn’t be any different if it were the case.
No-one said he wasn’t.
What's inaccurate about it?
Well part of it is that as long as I have been following this stuff is that it has always been an unwritten rule that you don't spend your own money to fund your race team. Obviously every owners does that to a certain extent, but Rick is kind of taking it to unprecedented levels. To me, it also makes the claim of not turning a profit on the race team for years kind of fall on deaf ears. If the team isn't making any money, then clearly Hendrick Cars is part of that problem, the part that nobody will ever talk about.
That's news to me.
But he’s not using his own money. That’s what gets me hung up on these arguments. He’s using the money of Hendrick Automotive Group to invest back into Motorsports and his own team. He’s using one businesses money to subsidize another business. Not at any point I would think he’s using his own actual money for anything to do with racing, if he started tapping into his own funds then it’s case closed over. No successful business person uses their own money, at least for a long period of time, if so it’s lights out
This assumes Rick is trying to find another sponsor for Larson. I'll grant that may have been the case when he first came on board with a minimal performance record ald the taste of foot still strong in his mouth. Now he has a title as wins a couple or more each season. I've read a couple of places that the dealers are very happy with the sponsorship and are displeased on the occasions other sponsors are on the car.
No, HMS can deduct them on the company's taxes, assuming Rick's assistant fils out the expense report.
I don't understand the hype on SVG, he has one race in Nascar and nothing anywhere else on this continent.
You should. RH may buy his own underwear but almost everything else is covered by an expense account in one form or another.
Many people don't understand the legal separations between business owners and the business's finances, particularly regarding corporations vs. private ownership.
Very true, as an accountant I am aware in Canada.
What Rick Hendrick reports to the IRS and what Hendrick Automotive reports aren't even close to the same numbers.
For the record, I was not specifically referring to you. It was a general statement. I think you and I have traded enough posts for you to realize if I referring to you, I'll @ you or explicitly name you.
