Yes, I’m breaking out the ominous-clouds-over-the-GM-sign photo again.
Days after the government took control of the company and a GM spokesman assured NASCAR, its teams and its fans it would continue its current level of financial support for its auto racing programs, General Motors has announced that it is cutting back on its current level of support for its auto racing programs.
According to the Associated Press, "Chevrolet spokesman Terry Rhadigan says GM, which is reorganizing through bankruptcy, is discussing what he described as incremental cutbacks in support. He says cuts will be made soon and that the discussions are ‘indeed NASCAR-wide.’ No one knows how deep or pervasive the cuts will be.
The federal government took control of General Motors on June 1.
General Motors to pare support of NASCAR teams (ESPN)