Working On My Redneck ™ » the france family

Obama’s Tax Cut Legislation Helps NASCAR

Leon — Sat, 18 Dec 2010 22:19:29 +0000

(photo courtesy Leon Hammack)

A host of industries, from Caribbean distilleries to Hollywood producers, would gain billions in tax breaks and other subsidies under compromise tax-cut legislation now moving its way through Congress.

The $858 billion package approved by the Senate today is focused primarily on continuing the Bush administration tax cuts for two years, extending unemployment benefits and other large-scale expenditures. But buried inside the legislation are more than $55 billion in other giveaways and tax reductions for some of Washington’s most influential industry groups.

Owners of NASCAR tracks and other motor-sports facilities would benefit from two more years of a tax policy making it cheaper for them to fund capital projects. Estimated cost to taxpayers: $40 million.

Steve Ellis, vice president of Taxpayers for Common Sense, a watchdog group, said many of the breaks had stalled under House rules aimed at ensuring that new spending is paid for with cuts or revenues. But the push for tax-cut legislation, he said, has “opened up the floodgates.”

“Most of these are sweeteners that don’t get vetted or reevaluated,” Ellis said. “They’re just sort of on autopilot.”

The motor-sports provision stems from an ongoing dispute between racetrack owners and the Internal Revenue Service, which concluded that racing facilities should be subject to longer depreciation schedules – thus decreasing tax benefits for owners.

The motor-sports industry, including the popular NASCAR series, argues that a shorter, seven-year depreciation schedule used by amusement parks and similar facilities should apply instead. Congress has periodically approved the accelerated depreciation schedule since 2004; the tax-cuts bill would extend the provision again through 2011.

The main beneficiaries of the provision would be large track owners such as International Speedway Corp. (France family owned) and Speedway Motorsports (owned by Bruton Smith). But other racing organizations also support the change.

“For us to be able to run our events at the track, you have to have quality facilities,” said Ramsey Poston, managing director of corporate communications at NASCAR. “Being able to provide the track owners the opportunity to invest more in their tracks and make them better and safer is important for us and our fans.” (Washington Post)

I looked it up so that you wouldn’t have to!

TIL NEXT TIME, I AM STILL WORKING ON MY REDNECK!

Does The “Show” Really Matter?

Leon — Mon, 06 Sep 2010 19:36:12 +0000

(photo courtesy Rusty Jarrett/Getty Images)

It has readily been apparent that the quality of the racing has had little influence on the decision making process of NASCAR about the calender and schedule in the Sprint Cup era.

Having been to six Atlanta races over the past 20 years, quite predictably, this year’s race produced a crowd pleasing, earth-shaking, old fashioned scramble, that would even have pleased Glen “Fireball” Roberts! “Fireball” was the winner of the very first race at Atlanta Motor Speedway back in 1960. However, the race track that has provided the most side-by-side racing, as well as some of the closest race finishes in NASCAR history is losing one of their two race dates next year.

The blame for the loss of one of Atlanta’s races can be shared. The race fans haven’t supported the spring race, the weather in Atlanta for the spring race can be very questionable, from cold, to rainy, and it has even snowed at the track on that weekend. Bruton Smith, the CEO of SMI and owner of the track, elected to move one of the AMS race dates to one of his other tracks, the Kentucky Motor Speedway, a track that he bought at “a fire sale”. The France family, the owners of NASCAR and ISC, who also owns the nearby race tracks of Daytona and Talladega, refused to consider a schedule change for Atlanta to a part of the year that the fans could bank on decent weather.

The schedule change could have done over a decade ago when there was the first big adjustment to the NASCAR schedule in years. The spring Atlanta race could have been moved to the Phoenix desert track in exchange for their April date. This is the same Phoenix track that now has their race date moved up to February starting in 2011!

The reference to “the show” in the title of this article comes directly from “Big” Bill France and Bill France, Jr. They were always concerned about “the show”. Both of them wanted to put on the best “show” for the fans. Well what about these days, is it still all about “the show”?

If that is still the driving force behind NASCAR, “the show”, then how can they take away one date from Atlanta Motor Speedway and give it to an unknown entity? Atlanta Motor Speedway has provided some of the closest NASCAR finishes in their 50 years of existence!

Atlanta Motor Speedway’s slogan says it all!

“Real racing, Real fast”!

What is your thoughts on Atlanta?

TIL NEXT TIME, I AM STILL WORKING ON MY REDNECK!

J.C France Arrested On Drug Charges!

Leon — Fri, 09 Oct 2009 00:29:56 +0000

BREAKING NEWS!!!

This just in off the associated Press wire!

Associated Press

MIAMI — A grandson of NASCAR founder Bill France was arrested early Thursday on drug charges in Daytona Beach, according to a police report.

J.C. France faces charges of possession of narcotics and driving under the influence. France posted $4,500 bond and was released from Volusia County jail Thursday afternoon.

France, 43, was driving a 2007 green Lamborghini when he was stopped shortly after midnight Thursday. Authorities believe he was racing his half-brother, 40-year-old Russell Van Richmond. France failed to stop at a traffic light and swerved on the roadway before coming to a stop in a parking lot.

Richmond, who was driving a 2003 Porsche when he was stopped, reportedly threatened the officer during the arrest.

“No, this is a mistake for you,” he told the officer, according to the report. “I’m a France, we own this city.”

Authorities continued with the investigation, and Richmond called for their commanding officers.

“You’re done,” he reportedly told an officer. “Your job is over. This is the biggest mistake ever and your [sic] so done in Daytona.”

While conducting a search during the traffic stop, authorities found containers with a “white cakelike substance.” The substances gave a presumptive positive reactions for cocaine when they were tested.

Richmond faces two counts of unlawful possession of a controlled substance, driving under the influence and two counts of threatening a police officer. He posted $10,500 bond and was released from custody Thursday.

France is the son of NASCAR board member Jim France and a driver in NASCAR’s Grand-Am Series. Richmond is the son of Jim France’s ex-wife. The two share a home in Daytona Beach, according to the police report. A telephone number listed for Richmond rang unanswered Thursday evening. A man who answered the phone at a number listed for France said he was not available.

NASCAR spokesman Ramsey Poston released a statement saying France has been suspended from all competition.

“Grand-Am has issued a penalty notice and suspended J.C. indefinitely from all competition for actions detrimental to racing,” Poston said. “The penalty is not appealable. J.C. is being treated like any other competitor. His suspension is immediate and indefinite.”

COMMENTARY:

This is very interesting, in light of the NASCAR/Jeremy Mayfield legal battle over Mayfield’s failed random drug test earlier this year! What is your take of this latest news out of the France family? Will the head of the sanctioning body of the Grand-Am Series, which happens to be J.C.’s daddy Jim France, really attack J.C. with the same vengeance? It also sounds as if Jim France’s step-son is in “deep doodoo” as well!

TIL NEXT TIME, I AM STILL WORKING ON MY REDNECK!