PENSKE MOTORSPORTS GETS OFF TO A FAST START ON THE MARKET

     In the company's first day of trading on the NASDAQ market,
Penske Motorsports Inc. rose as much as 33%, according to the
DETROIT NEWS.  Shares debuted at $24 and quickly topped $31.
Wall Street analysts called the sale one of the most successful
IPOs by a Michigan company in recent years (Dave Phillips,
DETROIT NEWS, 3/28).  Shares in Penske were up 7 3/4 to close at
31 3/4 ("Sports View," CNBC, 3/27).  Tom Doherty, an analyst for
New York-based Robotti & Co.:  "This is an indication of the
growing popularity of racing."  Donald Nauss writes most of the
money raised will be used to complete construction of the $80M
California Speedway, which is expected to open early next year
for stock car and Indy races (L.A. TIMES, 3/28).