The NASCAR Way: The Business That Drives the Sport (U)

From the bestselling author of The Warren Buffett Way, a revealing inside look at the booming business-and investment opportunities-of NASCAR "Hagstrom's insights and observations bring a refreshing 'outside' business perspective to our industry." From the Foreword by William C. France, President, NASCAR "From its origins in Daytona in the '50s to today's live network broadcasts for millions of devoted fans, Robert Hagstrom offers an in-depth look at the fastest-growing sport in the country. The NASCAR Way explains how and why dozens of Fortune 500 companies have been lining up to jump on board." Michael T. Hargrave, Senior Motorsports Manager, Anheuser-Busch, Inc. "It is great to be associated with NASCAR, the France family, and for me to get paid for what I love-to race! In The NASCAR Way, you see a prime-time sport." Dale Earnhardt, 7-time NASCAR Winston Cup champion "An accurate and entertaining perspective to the unbridled capitalism that has built NASCAR into the #2 sport in America after football." Bill Nielsen, Director, Promotion Development and Licensing, Kellogg USA, Inc. "Hagstrom understands how our business works both on and off the track. His perception of our sport will have you racing through the pages on the edge of your seat. The book is definitely a winner!" Dale Jarrett, Winston Cup driver Library Journal Hagstrom (The Warren Buffett Way, LJ 11/1/94) looks at the business side of what is the second-largest spectator sport in the United States. Unlike stick-and-ball sports, which are guided by a governing body of team owners, NASCAR (National Association of Sports Car Racing) is wholly owned by one family, the Frances. NASCAR has three guiding principles: parity, safety, and cost, and its rules are structured so that money alone does not guarantee success on race day. Part of its success is in limiting venues; in each particular class, there is only one race on a given weekend, which avoids the dilution of hockey, basketball, and baseball. All this pays off in advertising revenue: racing fans know who sponsors teams and events, and they reciprocate by buying. What NASCAR has found almost intuitively is a lesson that Harley Davidson learned the hard way: it is better to have demand over product availability. Given the popularity of auto racing, this book will be of interest to most public libraries.Steven Silkunas, DCO, SEPTA/FRONTIER, Conshohocken, Pa.