GM Cuts Nationwide, Truck Series Support

NASCAR this weekend stops in Michigan, where signs of the auto industry’s struggles are becoming more apparent in the sport. The latest news out of Motown is General Motors’ plan to cut its factory support of teams in the Nationwide and Truck series as it restructures under Chapter 11 bankruptcy protection. While it is not clear if any Cup teams may feel the pinch, organizations such as Kevin Harvick Inc. and JR Motorsports will be affected. Sunday’s race at Michigan Int’l Speedway offers the Big Three automakers a close-up view of their sponsorships in action, but the race also is feeling the impact of the economy. Despite a reduction in ticket prices, track President Roger Curtis says he expects attendance to be down 20-25% from last year. Meanwhile, the top 10 teams in Forbes’ annual valuations see their values decrease from last year, but the gap between the haves and have-nots continues to grow at an alarming rate.