Petty Enterprises

[art11758]

It seems they closed up shop and let everyone go. See here:
http://nascar.speedtv.com/article/cup-lights-out-at-petty-enterprises/

[W. J.]

Makes you wonder which team's next. Sad, but NASCAR started this happening when they oversold their product. The downturn has been foreshadowed by empty seats at formerly sold out Cup venues. Now those seats get covered with huge sponsor signs so that it's not in everyone's mind that they are empty. Their 'charge more for everything' attitude is now affecting the teams ability to attract sponsors, because NASCAR is doing its best to sign them up all for themselves, which only takes away from the race teams. NASCAR should have been content with their $800 Million plus TV contracts and franchise fees, but the "Billionaires of Daytona" know no end to their greed.

This ain't over yet, folks! :mad:

[richardpetey]

I guess that leaves just me.........................:eek:
I better postpone my farwell tour until next year..................:help:
UNCLE PETEY.............:wave: :wave: :wave: :wave: :wave:

[capitalcity300]

How Bad was the Deal or Crime of the Century ???
What was lost and stolen???
How much money was involved with the sellout or buyout ???
What was sold in Petty Enterprises deal???
Equipment & race cars???
Richard Petty Museum???
Richard Petty Driving Experience at over 20 tracks nationwide???

Richard Petty's Name Recognition Rights??? Remember the (Grammy award winning song: Big Bad John) Country Singer and Sausage King Jimmy Dean had problems Sara Lee Corp. with using his own name in future record or book deals.
How about the Richard Petty's Souvenir Manufacture and Sale Rights??? Don't give that up!!! :lol:
Marliyn Monroe, Dale Earnhardt Sr., and Elvis are the top 3 celebrities (Dead or Alive) in Souvenir Sales!!!
Remember that, when you're thinking about selling your company or business with your name included in your company's name or business name. :cheers: :wave:

[W. J.]

Tell that one to the McDonald brothers, who sold their hamburger stand, and it turns out, their name to Ray Kroc.

[btgoss]

I have mixed feelings about this Petty deal.

Obviously I feel bad for all of the people, known and unknown who have lost their jobs, and for the loss of yet another piece of Nascar history.

But it was time for some major changes at Petty Enterprises. I doubt that Kyle wanted to continue running the way he had been running. I know that we don't know him, but from out side looking in, it would appear that he no longer has the type of interest needed to run in the modern Cup circus. (Not that I was ever really convinced he had it to being with, remember he quit racing for a time to be a country music star.)

When you factor all that racing has given and taken from the Petty's, I don't think it surprising at all that they get out at some point.

Now is as good a time as any.

You would hope they get to keep the right to the name and the things that go with it, but as pointed out in another post, it wouldn't be the first time someone has sold those types of rights.

[capitalcity300]

Old Richard Petty Racing Shop and Museum
http://www.tru-grit.com/pages/petty.htm