NASCAR Economics 101: Expressed Worry for General Motors, ISC

"They're gonna figure it out. This country can't survive without the auto industry. Like I've said before, if they go under, we're walking. We don't drive, you know, we walk," Clint Bowyer said this past Friday.

Hopefully, things won't get as bad as some members of NASCAR nation think. But right now, things aren't looking up.

Despite a Chevrolet winning this past weekend's Samsung 500 at Texas Motor Speedway, the news for General Motors, and a possible withdraw from the sport, is growing more and more by the day.

Stock for the company is at a 75 year low at below two dollars. It's now being reported that "speeding up preparations for a possible bankruptcy filing even as directors scout for deeper savings this week to avoid that outcome, people familiar with the plans said."

Sales are also down 53 percent from this past February.

General Motors is currently in debt nearly $30 million, and won't get any more money from the government if they aren't seen as viable by the government at the end of spring.

The Reuters UK is reporting that the auto maker is planning to split their company into a new one of its most successful cars, and another for "less profitable units (to gain) momentum."

This latest development in the GM drama has several Chevy drivers worried.

"We can talk about Chevrolet, but the real key is what is the overall economy? Chevrolet has shown for years that they're very committed to racing and that commitment is not going to go away," Jeff Burton said.

Two time NASCAR Winston and NEXTEL Cup Champion Tony Stewart reinforced an earlier statement, saying Americans should be more willing to spend money, but added, "And I know that's easier said than done, but I think every time you turn on the news, you're petrified."

In other NASCAR economic news, International Speedway Corporation saw a 31 percent drop in their net income their past quarter. ISC, which is owned by the France family, announced they made $166.1 million, a 14 percent drop, and will be dropping ticket and concession prices.

"The average income of NASCAR fans is below the national median, making them more susceptible to the recession," according to the statement.

Thanks to Reuters UK, Las Angeles Times, Autosport.com, USA Today, Jayski and NASCAR.com for the information and quotes used in this story.