Somebody just posted this on Facebook.I know you definitely can't believe everything you see on the internet,but I was kind of on the fence about going to Indy next week.I am definitely planning on going now!
Let's pack the place with 800 or more cars in support!



***NHRA FILING CHAPTER 11 BANKRUPTCY***

During this pandemic, we have seen so many businesses affected,especially in the racing world. A business that depends on participants and spectators can not survive when those allowed in are limited or denied. I have it from a very reliable source that the NHRA race at Lucas Oil Raceway scheduled for August 6-9 will be its final race of the season. Having fulfilled their commitments to Mellow Yellow and Fox, they are ending there season. It’s not a surprise to hear that bankruptcy is being filed but I have to wonder what racing will look like without the NHRA pushing the sport forward. The loss if televised drag racing to millions of people could be devastating to the whole sport of drag racing. Drag racing is a team sport. I would even say a family sport. What happens to all of the families and businesses that rely on the NHRA to make a living? Although it is not surprising that the NHRA will be filing chapter 11 bankruptcy due to the current struggles, it is disappointing.

Here is what we can expect from the bankruptcy: Chapter 11 of the Bankruptcy Code generally provides for reorganization, usually involving a corporation or partnership that can continue to operate with the court regulating it. Chapter 11 usually results in reorganization of the debtor's business or personal assets and debts but can also be used as a mechanism for liquidation. Debtors may "emerge" from a chapter 11 bankruptcy within a few months or within several years, depending on the size and complexity of the bankruptcy. The Bankruptcy Code accomplishes this objective through the use of a bankruptcy plan. The debtor in possession typically has the first opportunity to propose a plan during the period of exclusivity. This period allows the debtor 120 days from the date of filing for chapter 11 to propose a plan of reorganization before any other party in interest may propose a plan. If the debtor proposes a plan within the 120-day exclusivity period, a 180-day exclusivity period from the date of filing for chapter 11 is granted in order to allow the debtor to gain confirmation of the proposed plan.[10] With some exceptions, the plan may be proposed by any party in interest.[14] Interested creditors then vote for a plan.

So I guess the question is if the NHRA actually files bankruptcy what will drag racing look like in 2021 and beyond? I’m curious what you think!!

I'm far more concerned with what the country will look like in 2021 and beyond.

Yesterday it was announced that the GDP has dropped 33%. Meanwhile, a 1% drop in GDP is defined as a recession. A 6.5% drop in GDP was called The Great Recession and in 1929 a 15% drop in the GDP was The Great Depression.

Now think about what’s coming and oh yea the very real possibility of Biden as the president and the democrats controlling both houses.

Now there is a good reason for JF to pull the plug. You know this may be a blessing in disguise. NHRA's current vision of its future under what I think is going in the wrong direction. It may just need some new blood, perhaps a multi drag strip owner or racing philanthropist around this country of ours
that can maybe bring back a Wally Parks attitute and vision. Food for thought

Remember Drag Racing in the 60s &70s ? That's what it might be like again. Local tracks running bracket programs to keep the track open and once a month or so bringing in Pro show of some sort to put spectators in the seats ( when its allowed) to make some $$$.

Nhra will be fine. Chapter 11 bankruptcy is simply reorganization. A trustee will be assigned to oversee the case and work with the creditors. Chapter 7 is total liquidization, that would be bad.

quote:

That's what it might be like again.

You mean maybe you wouldn't have to have your seat belts recerted? GASP!

It is not true. Just a 'what if' they did.

I know what a chapter 11 is. A "simple reorganization" is what's needed and that means new blood with old school thinking and back to basics. RPPROGAS mentioned that the sportsman are the back bone of this sport and he is totally correct. The Wally Parks 1953 vision is what this sport needs to bring it back to bigger and better things. You know this so simple. Have a question?? What do you think is the average of age of us racers in this country. I'm guessing we are in that old school way of thinking.

What a stupid post. Go to the county website and see if it’s true rather than this nonsense

I love drag racing but as Ed mentioned I am also far more concerned about the Country.

If (and that's a huge IF), The NHRA does file Chapter 11 the World will not end and what might emerge could be better for everyone.

But what Don said, "right now that's a what IF".

Bob

Speculation on 11. Drag racing will survive whether or not any organization files. 7.11.13.
As we all know, this is a sport for all of us.. This is just one of the extras in life. The health of the country is paramount to all of us.The utmost is the health of our families will always comes first at any cost.There is fear and uncertainty. And people adapt..If racing has to be put on the back burner, so be it.. The nation as one has and will pull together as in past history.

Nhra is dying and has been for a while that is a fact and you are blind if you believe other wise..

Authorities need to lower interest rates and expand credit further.

Everything is dying, they offshored the US economy to china.

What else would you expect to happen?

Yeah I know, your elected officials wouldn't do that to you.

Keep believing that as your wages have stagnated for 40 years..

Negative interest rates and even easier credit, if easier credit is possible in this Twilight Zone, will make everything better again.

We don't need to produce anything , the chinese will finance our debt to infinity.

This message has been edited. Last edited by: Mike Rietow,

Let's pretend it's all the NHRA's fault, that way we can avoid the bad feeling, it's the ship itself that is sinking.

If we lie to ourselves for long enough, we'll believe our own lies.

The piano player kept playing as the Titanic went down.

quote:

The nation as one has and will pull together as in past history.

Are you sure you understand what our participation trophy society has produced? Do you think Europe will pull together and reemerge? Great Britain, Portugal, Spain, any of the other great world sea powers of yore? The bell curve of life is an undeniable process.

The participation trophy society starts at the top. Example - Banker and multi-national corporation too big to fail $$ trillion dollar bailouts, for the second time in ten years.

Where do we sign up for this program, in order to stay at the top of the bell?

Or is it our own paid agent provocateurs, we need?

https://youtu.be/kSRNrVjISRQ

This message has been edited. Last edited by: Mike Rietow,

Everything is going bankrupt including the dollar.

Anyone who thinks it's NHRA's fault, is F'n CLUELESS.

The US was offshored to china beginning in the early 2000's by elected officials you voted for.

They were paid big money to do so, right under your noses.

Did anyone bother to read the last sentence of the original post

quote:

Originally posted by I.P. Dailey:
Did anyone bother to read the last sentence of the original post

Isn’t that why everyone is replying?

This message has been edited. Last edited by: CURTIS REED,

Acquiescing ...

The American people reap what they sow.

The deceiver will take care of the rest.


https://youtu.be/15xlMohu9os

This message has been edited. Last edited by: Mike Rietow,