American Thunder (HD) • 8:00am
  • Media
  • Photos
  • Videos
  • Check out the latest SPEED podcasts on iTunes
  • Mobile
This could be your avatar!
Username
Password
Register
tom_jensen's avatar
Author:
Tom Jensen
Login For More
Rate this article:
  • 0/5 Stars
  • Related Photos
  • Related Videos
SPEEDtv.com Store
Greenlight Andretti Green Danica Patrick 1st Win 2008
This is a replica of the racecar used during the 2008 Japan race in which she won her first race ever!
Our Price: 1/18th Scale - $45.95 ($41.36 Member)
Visit Button
Buy Button
Ducati Red Team Logo Hat
100% cotton. Embroidered. Adjustable strap.
Our Price: $36.00 ($32.40 Member)
Visit Button
Buy Button
Formula 1 2009 Calendar
Every month is accompanied by a superb action shot from the 2008 season, with essential information about the sport.
Our Price: $16.95 ($15.26 Member)
Visit Button
Buy Button
Footer Bg
  • Zoom More Photos Button
  • Camera Icon
CUP: GM Reaffirms NASCAR Commitment
Written by: Tom Jensen   
07/05/2008 - 06:54 PM
Daytona Beach, Fla.
 
The Chevrolet of Martin Truex Jr. sits on pit road before qualifying for the Coke Zero 400 at Daytona International Speedway. (Chris Graythen/Getty Images Photo) ยป More Photos

Despite the severe economic problems that General Motors Corp. is experiencing, the automaker’s NASCAR point person said Sunday that GM remains committed to NASCAR.

Alba Colon, GM Racing program manager for NASCAR Sprint Cup Series, told SPEEDtv.com that she expects that in 2009, GM will fund its NASCAR operations at the same level it is this year.

“We are committed to the sport,” Colon said. “I know there are 100 rumors out there about things happening, and I cannot discuss that, but as every company in America, we are looking at the business at every aspect. But we are committed. We are committed to our teams and the championship and that’s what we’re doing.”

Colon would not discuss specifics about reports that GM would scale back some specific elements of its program, including its track sponsorships.

Last week, GM’s stock price dropped below $10 to its lowest levels in 54 years. In the past nine months, GM stock has lost about 75 percent of its value. Merrill Lynch analyst John Murphy said GM’s economic woes may worsen. “We believe there is potential downside in the stock below $7 and that bankruptcy
is not impossible if the market continues to deteriorate and significant incremental capital is not raised,” he said.

Despite those concerns, when Colon was asked if she expected GM to provide the same level of Sprint Cup funding in 2009 that it did this year, “That’s our expectation,” Colon said. “Yes, yes, yes.”

Tom Jensen is the Senior NASCAR Editor for SPEEDtv.com, the former Executive Editor of NASCAR Scene and a contributing Editor for TruckSeries.com. He is the author of “Cheating: The Bad Things Good NASCAR Nextel Cup Racers Do In Pursuit of SPEED,” and has appeared on television and radio shows to discuss NASCAR racing. Jensen is the President of the National Motorsports Press Association. Jensen is the 1997 National Motorsports Press Association Writer of the Year and has won numerous national and state awards for news reporting, columns and feature writing. The Answer Man is back at SPEEDtv.com. Tom Jensen answers your questions during every race week and looks forward to hearing from you - please e-mail it to



View All Comments