Wednesday, November 22, 2006
NASCAR Goes Global
NASCAR Goes Global[Fool.com: Commentary] November 22, 2006, By Todd Wenning
"You can go to Beirut to buy a Whopper; why can't you come from Tokyo and race in America?"-- Michael Waltrip, NASCAR driver
Michael Waltrip has a point.
It's no secret that Toyota's
(NYSE: TM) entry into NASCAR has been poorly received by some racing traditionalists. To some purists, the Japanese automaker's presence in an American sport dominated by the "Big Three" -- Ford
(NYSE: F), General Motors
(NYSE: GM), and DaimlerChrysler
(NYSE: DCX) -- is unnecessary at best and downright unpatriotic at worst. (Somehow it's not an issue that Chrysler is now merged with a giant German company.)
Everyone is entitled to his or her opinion, of course. But in any market in which there's a ton of money to be made, companies -- regardless of country of origin -- will be there to make profits. Heck, that's the American way. And NASCAR is one such market, with a reported 75 million fans that spend an estimated $2.1 billion on licensed merchandise each year.
In other words, Toyota would be downright stupid and we'd be downright hypocritical to let the Big Three have all the fun in such a profitable and growing niche...read more:
here11/22/2006 09:37:00 AM
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