Another sign Bernie is on our side

[Mike Kellner]

I was just looking up the Australian GP TV schedule on Speed. I read their blab on the 03 season, and discovered that they get the whole thing. The Mouse & Lemming Network doesn't even get the IRL GP. Remember last year, Bernie allowed them to ruin 4 races, and the Lemi were talking about having the entire GP season return to Wide World of Sports or however they cover races these days. That is out the window, and Speed has a three year contract. This means that with F1, CART and NASCAR, Speed is now the home of big time motorsport. This is going to have a great synergy over time which will help get more Americans to watch open wheel.

I think this is another sign, however small, that Bernie is beginning to distance him self from the Hulman Empire and siding with CART.

Last year, they were playing funeral marches for our background music, this year I think it should be the old Beatles tune, "Getting Better".

Whoo Hoo! The future is so bright, I need to wear shades just to contemplate it.

[racer2c]

I'm glad to see your positive outlook. It's a different CART than yester-year, and change does not sit well with many.

You mention Speed being a good thing for not only the CWS but as a legitimate center for major auto-racing. I just went three rounds on another board and was ganged up on from both sides about how Speed was killing CART (that .2 is hard to defend). Personally, we've suffered through the poor coverage provided by ABC and ESPN with CART and it is now obvious that it's no better for the IRL (no qualifying? Please!) I think Speed is a welcome and refreshing change. I also believe that the CBS races will garner similar ratings that the IRL's ABC races do. 'They' are doing back-flips over their latest 1.8 and I expect them to acknowledge success if CART captures even a slightly lower 1.5 (they won't though).

Just curious Mike, do you ever think about CART and Indy at the same time these days? I don't.

From the very creation of the IRL, Tony has not done one thing that I can get behind. Just the opposite actually. He could have helped open wheel racings overall popularity (beneficial to him because many CART guys were running his big race.) His deep pockets helped drivers and teams, but where are the prime time commercials, where is the nurturing of the sport. Dig into your pockets and help companies produce die cast models for the kids and collectors. A traveling stage show with a no name rock band ain't gonna cut it. Where is the driver support for their stars. Helio's won his race two times in a row and I barely hear a mention of him.

CART had issues with dipping into their war chest, and still do. But Tony, if he had a brain, could do allot more with the promotion of the sport. In my opinion, he would rather tear it down in hopes that CART folds and then start anew. I think he'll find that a very challenging if not impossible goal.

Tangent over.

[Hink]

Good thing for SpeedTV. ABC has been terrible for the 25 years I've been watching racing.

[Mike Kellner]

What I would love to see would be for F1 & CART to cooperate on the schedule so they always ran on opposite weekends. F1 & CART are on the same channel here (USA) and if they could get a package together for Europe, South America and Asia where the same station did both, it would give the fans real racing every weekend throughout the season. That is what I would wish from CART's new friendship with Bernie.

No, I no longer think of Indy as having anything to do with CART. To recall an old Speednet refrain, I have gotten over it. When Tracy had his win stolen, it was the last straw. I knew I had been cured a few hours earlier, when Gomer singing no longer evoked any emotion other than a bit of remorse over the great loss to the sport.

[mnkywrch]

Speed's great coverage, but CART needs to promote better to get fans to watch the great coverage.

I was surprised that St. Pete had so few viewers. Slightly fewer? Perhaps. Around half of last year's season opener? Didn't expect that, not with 10 million more households. Chalk it up to NASCAR, I suppose.

I don't see Monterrey being much better, as it goes against both the IRL & NASCAR at Bristol. Long Beach will be the first true ratings test, as it's run towards the end of the NASCAR race that weekend.

As far as Bernie, he's got bigger fish to fry than messing around with CART. The manufacturers want more cash from Bernie, which is going to be like taking blood from a stone...

What I can see is CART's new promotional organization taking over the USGP contract and promoting it at <insert name of street circuit here>.

That would bother me for a couple reasons:

1) CART needs to focus on promoting itself, not F1
2) Taking a bath on an F1 race makes even the biggest CART money-loser look like nothing.

I'd just as soon CART stay isolated from Bernie.

[racer2c]

'wrench, I think the points you bring up are valid concerns, but personally I would be able to 'stomach' those issues if Bernie bank account gave CART the stability to ward off the d&g, specifically the cloud of demise, still prevalent media topic and one that needs to stop now, not tomorrow. If CART could show the world that it is here to stay the benefits would be significant, from sponsorship, to fan loyalty to race venues.

[WickerBill]

We need to petition DirecTV to put SPEED in the 200 range instead of in no-mans-land at 607. Not that DTV's 12M subscribers would make a considerable dent, but you've got to have your product in a place where people can stumble onto it, IMO. Stuck between "Outdoor Channel" and "Nose-PickersTV" doesn't help people find it.

[RaceGrrl]

I don't trust Bernie. He does what's best for him. As long as Pook keeps that in mind and doesn't screw CART in the process, I can live with it.

[RaceChic]

Originally posted by Mike Kellner
No, I no longer think of Indy as having anything to do with CART. To recall an old Speednet refrain, I have gotten over it. When Tracy had his win stolen, it was the last straw. I knew I had been cured a few hours earlier, when Gomer singing no longer evoked any emotion other than a bit of remorse over the great loss to the sport.

This is about how I feel. I was so angry and frustrated. It wasn't about the real racing, it was about pleasing teams within the series that bring in sponsor money and left CART to be in the Crapwagon series. It is just additional evidence that TG cares about his own needs and not promoting motorsports as a whole. Anyway, we've all heard that before.

With the struggle to have entries into the Indy500, and the fact that Formula One races at the IMS, and the seemingly increasing evidence that F1 has no loyalty to the IRL, but to CART, is just hilarious to me. Especially since they've pumped off about having the USGP at IMS. Next I see the USGP being pulled from the IMS and going elsewhere.................... Sorry to TG about all the $$$money$$$ wasted on building the road track in the middle of the IMS. Who am I kidding...........I'm NOT sorry one little bit!!!!!:rofl: :rofl: :rofl: :rofl: :rofl:

[sundaydriver]

Speed Channel needs to do a little promotion itself. Not just for CCWS but for itself. Nobody seems to know this channel exists. It won't be long before the number of households reaches 80 million but if nobody knows it, what good does it do ya?

WB is right also. DirecTV needs to move the channel lower on the "dial". It needs to be a no brainer for people to get to. Sad, but true.

Once Speed Channel gets noticed by the masses, CCWS will do just fine.

[rabbit]

I used to love Indy. Heck, I used to sing "Back Home Again" in my car when I crossed the Indiana state line on my way to the race. But like Kellner said, that all ended on lap 199 of the 2002 Indy 500. I think that was the defining moment in the completion of the CART/Indy divorce. The 500 is becoming increasingly insignificant and as it does, so does Tony's little series.

[pchall]

The 500 used to be my right of spring... wax the car and listen to the race on WIBC.

Now it's just another Sunday.

[911]

Mike, I was thinking along those sames lines, too. I can't remember the last time we (i.e. US) had a multi-year contract w/ F1 (old espn days, perhaps?). I'm glad to see that the USGP won't be covered by ABC - that's great news for us.

[mnkywrch]

Originally posted by racer2c
'wrench, I think the points you bring up are valid concerns, but personally I would be able to 'stomach' those issues if Bernie bank account gave CART the stability to ward off the d&g, specifically the cloud of demise, still prevalent media topic and one that needs to stop now, not tomorrow. If CART could show the world that it is here to stay the benefits would be significant, from sponsorship, to fan loyalty to race venues.

IMO, if Bernie bought CART and took them private, he'd be like the stock market, but worse. He'd demand higher sanctioning fees. If he didn't get them, he'd move elsewhere. Mid-Ohio can't afford to pay? Who needs 'em. We'll go to Czechslovakia.

:eek:

Bernie's like a man-eating tiger; great when he's eating your enemy, but if he turns on you, he'll eat you just the same without a blink.

Oh, and fans in the paddock in a CART run by BE? Riiiight. Maybe if you add a zero or two on the end of the current price.

Besides, deals with the devil notwithstanding, he's up in years & won't live forever.

As far as Speed Channel promoting CART, they've thrown their pocketbooks (it seems) behind the Truck series and the WRC.

[Railbird]

I was plesantly suprised to see the whole F1 sched back on SPEED, and I hope it happened because of Bernie's influence, but I have to agree with Racegrrl.

Keep you valubles hidden if BE is interested.

Racechic, don't waste your thoughts on the grandson's money, he's got plenty and he's making more as we speak.

[Hot Rod Otis]

I don't trust Bernie as far as I can spit. When Bernie's around, keep one hand on your wallet.

As for the Grandson's bank account, 'bird's right. My brother-in-law in Indy knows people who know and deal with Anton. He says that the Hulmans have more money than anybody knows about, or even suspect they have, and are in NO danger of running out anytime soon..

[RaceChic]

Originally posted by Railbird
Racechic, don't waste your thoughts on the grandson's money, he's got plenty and he's making more as we speak.

No wasted time, just a lot of laughter at his arrogance biting him in the butt of his BS!!!!!!:laugh: :rofl: :laugh:
I sense a lot of free entertainment coming our way!!!!!!!!!!!!!!:p

[Spicoli]

Originally posted by Hot Rod Otis
I don't trust Bernie as far as I can spit. When Bernie's around, keep one hand on your wallet.

As for the Grandson's bank account, 'bird's right. My brother-in-law in Indy knows people who know and deal with Anton. He says that the Hulmans have more money than anybody knows about, or even suspect they have, and are in NO danger of running out anytime soon..

You should see the idiotgrandson's house too. Talk about tastless decadence:shakehead

Thanks for the news on SC covering ALL the races. They did such a hack job last year on the Mickey Network. Prolly scared everyone away.

The house is crumbling.....:gomer:

[FortyOneFord]

Hopefully a prelude of things to come.

tonee has been saying since day one how he was calling the shots for F1 races in the states because of his pull at the mouse network. Now the races get put somwhere else and tg is left holding the bag. Ha ha ha.

Sad though, we won't get to hear cheeber mis-pronounce all the names and jenkins "and that car passes the, umm, other car" tripe.

[oddlycalm]

Originally posted by rabbit
that all ended on lap 199 of the 2002 Indy 500. It ended for me in about the same way, only it was 29yrs earlier.

Originally posted by Railbird
Racechic, don't waste your thoughts on the grandson's money, he's got plenty and he's making more as we speak. Maybe, maybe not 'bird. Reversals of fortune are all too common for anyone to be considered above it all at times like these. Folks that are arrogant and stubborn are the most likely to ride a good horse into the ground. Deflation is a funny thing. Except for folks that were around in the early 1930's, none of us has ever lived through it, and it's not over by a long shot. Back then bank failures complicated events, but basically it was a period of serious deflation. The IMS went bust then and it could happen again. I sincerely hope I'm wrong about my economic forecast, but I can't see a shred of data to support another conclusion.

To be sure, CART will face that same dreary economy as well, they just don't have the fixed costs of TG's operation (or the income potential during good times). RA's lawsuit is simply a sign of the times. The reason you see Bernie and Max pushing the panic button is because they clearly understand what they are facing economically. Pook does as well. His 'between the lines' message was clear as a bell last week; costs have to come way down or it's all going to be history. The difference is, he's already engineered a huge cost savings in CART with the spec Cosworth and chassis freeze. Expect more starting with Atlantics.

oc

[Napoleon]

Originally posted by oddlycalm
Reversals of fortune are all too common for anyone to be considered above it all at times like these.

True, but I would venture a WAG that the Hulman families near monopoly in the baking powder market, which they make in plants that were fully depreciated 50 years ago, likely gives them a nice stream of all but guaranteed cash.

[mnkywrch]

Tony's going broke when he's likely got the F1 costs spread over a number of years & a number of events.

Riiight.

It's a popular topic, but I'll believe it when I see the "For Sale" sign go up out front.

[Railbird]

Good Lord racefans

I'm not here to defend the grandson, but I'll stand by my statement, they are making money with racing. The only question is how much more money they could be making.

[formulaben]

Originally posted by WickerBill
We need to petition DirecTV to put SPEED in the 200 range instead of in no-mans-land at 607. Not that DTV's 12M subscribers would make a considerable dent, but you've got to have your product in a place where people can stumble onto it, IMO. Stuck between "Outdoor Channel" and "Nose-PickersTV" doesn't help people find it.

Nose-PickersTV?! Good one Bill!:rofl:

[oddlycalm]

Originally posted by mnkywrch
Tony's going broke when he's likely got the F1 costs spread over a number of years & a number of events. Riiight. I am aware of how the world works, ammortization schedules as they relate to commercial finance included. My point is, regardless of the schedule or current low interest rates, there is significant annual debt service required, and the cost of operations (overhead) is what it is.

As they are private, issuance of bonds is not practical, and non-revolving commercial credit normally tops out at 5yrs unless it's mortgage related. It may be, but if so, the IMS would be the collateral. While it is possible to reschedule such arrangements, asking to do so may represent a red flag to the lender(s).

Remember that companies can submit anything they choose in their D&B filings, and as audited public financials for the Hulman-George businesses do not exist, there is zero transparency by definition. Institutions doing business with them has to take repayment on faith alone, so you can bet that any debt is amply collateralized. One scenario we see time and again is that lender's perception of collateral value changes radically when revenues and/or profitability change dramatically. Such loan calls inevitably come at times when cash flow is at it's worst, forcing the debtors to infuse cash from other operations if they are able. The real question is, would all of them want to in the event they faced such a squeeze.



Originally posted by Railbird
I'm not here to defend the grandson, but I'll stand by my statement, they are making money with racing. The only question is how much more money they could be making. I realize you are not defending him 'bird, and if we were talking about looking in the rearview mirror I would agree 100%. However my point was not the past, but the immediate future, 2003 - 2004. I doubt very much that they will show black ink for total racing operations in 2003 or 2004. If they do, the Brickyard will be the only reason they do IMO.

I don't make such statement idly, or in a vaccuum. The company I work for has a bad debt track record that is near perfect over the last 15yrs. As I have primary responsibilty for managing those customer accounts, and I stand by my gut feel. It's accurate to say that I'm not often wrong.

In addition, public bluster about how rich and powerful one is always regarded as a contrary indicator by lenders, and we can assume TG and his minions had 100% control of the content and tone of the article in question. If I were his creditor, I would be very concerned, particularly in the light of actual attendence results trends, and the outlook for the entertainment/recreational sector in general as we stand on the brink of a steep slide in consumer spending.

To summarize, the chances of them going mamaries topside is near zero, however the chances of racing operations posting losses, forcing lenders to act predictably, almost certainly exists.