NASCAR URGES YOU TO SUPPORT AUTO BAILOUT
NASCAR URGES YOU TO SUPPORT AUTO BAILOUT NASCAR Icon Rick Hendrick Issues Call to Action Urging Congress to Support Domestic Auto Industry As Congress nears a final decision on whether or not to approve a federal bridge loan to domestic car manufacturers, NASCAR icon Rick Hendrick is issuing a call to action to all Americans to contact their members of Congress immediately to request swift approval of this critical loan.
With news of U.S. employers eliminating 533,000 jobs in November, the biggest loss in 34 years, he is urging Americans to consider the devastating ramifications of the collapse of the U.S. automobile manufacturing industry on the economy and American families.
The Center for Automotive Research predicts that a collapse within the industry would result in widespread failures of supplier companies and put nearly 3 million people out of work. Additionally, personal income would drop an anticipated $150 billion and tax and social security receipts would fall by more than $45 billion. And a recent national poll by renowned pollster Peter Hart further warns that letting the U.S. automakers go bankrupt would be tantamount to "multiple Katrina's hitting the U.S. economy."
According to Hendrick, a collapse could also have ramifications on NASCAR itself. Chevrolet participates in all three levels of NASCAR competition -- the Sprint Cup Series, Nationwide Series and the Craftsman Truck Series. Since 1949, General Motors (Chevrolet, Pontiac, Oldsmobile and Buick) have accounted for 32 manufacturers' championships and 967 Cup race wins -- the most among any corporation. Ford owns 692, while Chrysler tallies 449.
Talent/Guest: NASCAR Icon Rick Hendrick
Chairman of Hendrick Automotive Group and owner of Hendrick Motorsports, Rick Hendrick has relied upon support from Chevrolet in both his dealership and racing. His first dealership was City Chevrolet in Charlotte, N.C., and his race team has fielded cars only from within the General Motors family.
Author: SBARTSTV
Keywords: nascar auto bailout NASCAR URGES YOU TO SUPPORT AUTO BAILOUT Icon Rick Hendrick Issues Call to Action Urging Con
Added: December 11, 2008
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