The "report card from Wall Street doesn't look good"
for NC-based SMI and FL-based ISC, as both companies "are
trading near their 52-week lows as they await profit reports
from their latest events," according to Mike Mulhern of the
WINSTON-SALEM JOURNAL. SMI is trading at $21 per share,
"well below" its high of $47 per share in September, and ISC
is trading at $39 per share, also "well below" its high of
$71 per share in November. Meanwhile, Mulhern reports that
Forbes "is working on a story on the NASCAR business world,
and it will likely delve" into those stock-market issues,
recent Wall Street "interest in the conflict of interest of
NASCAR and ISC both being run by the same family" and
NASCAR's new TV package with Fox, NBC and Turner Sports.
One former GM racing exec said that he "wouldn't be
surprised to see [NASCAR President Bill] France try to
resolve the conflict of interest issue by spinning off
NASCAR itself as an IPO." Mulhern: "Perhaps Forbes should
ask if this sport is still so hot, why are some top car
owners selling or trying to rearrange their business
alignments?" (WINSTON-SALEM JOURNAL, 6/29).
ON THE RISE: NASCAR WINSTON CUP SCENE's Jeff Owens also
reports on the rising cost of doing business on the Winston
Cup. Owens: "What is a good sponsorship deal this season
will be mediocre next year, according to the dollar figures
being floated through the Winston Cup garage. ... The
dramatic increase in the cost of sponsoring a top-flight
team has thrown a scare into numerous Winston Cup teams.
Some who are contenders now fear they will suddenly be
uncompetitive while several midpack teams are afraid they
will be run out of business" (WINSTON CUP SCENE, 6/29).
