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Author Topic: Layoffs in Mooresville  (Read 3387 times)
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Cheryl
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« on: October 20, 2008, 12:56:04 PM »

Lou and I were at the USAR race in North Carolina this weekend and I was talking to a guy who works in Mooresville.  He brought up that several of the big NA$CAR teams are in the process of laying off a lot of folks. 

Hendrick - about 70 people
DEI - 100 people
Joe Gibbs - can't remember how many

It doesn't look like even the big team are immune from lack of sponsorship lately.  It's really a shame for all these employees, but it looks like maybe the bubble really is bursting for racing lately.    Sad

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Desmond
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« Reply #1 on: October 20, 2008, 06:05:30 PM »

At first, it doesn't make sense.  Hendrick, with four fully-sponsored teams in Cup and some of the best drivers the sport has ever seen, firing 70 people?  JGR, with three fully-sponsored teams?

Then again, maybe this is mostly from the Busch operations with less money.

DEI is on the brink.  Only one sponsored team in Cup for next year.
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Cheryl
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« Reply #2 on: October 20, 2008, 06:09:01 PM »

I'd hazard to guess the 70 people "from Hendrick" are in the JR Motorsports Busch shops, since JR seems to be having trouble finding a full-time sponsor for the 88 car.  At least that's what I read somewhere the other day...and he said he wasn't firing any of his relatives.

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cowboy271
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« Reply #3 on: October 21, 2008, 01:01:09 AM »

Desmond, your comment "fully funded" raises a question in my skeptical mind.  What is "fully funded" this year compared to recent years?  I'm sure DuPont and Lowe's bottom lines aren't that great.  I hate to see anyone laid off, but I have a feeling the current economical downturn hasn't really hit NASCAR yet.  I'm afraid there's a lot of sponsorship contracts that will be downsized or not renewed once the current contracts expire.

Along those lines, I really find the "supposedly" merger negotiations between DEI and Petty VERY interesting as it seems GM/Chrysler merger talks continue.  I'm pretty sure there's going to be some very surprising news before 2009.
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