Every January the President
appears before a joint session of congress to update them on
the current state of our union. This address is mandated by
the constitution and is a cornerstone of our governmental
process. The state of the union addresses where we are, where
we want to go and lays out a basic framework of how we intend
to get there.
So, here is my version:
The state of our racing
union is strong but we face several serious challenges. The
economy is a powerful factor in how strong our industry is,
advertising budgets vary greatly depending on the strength of
the business environment. We have seen several competitors
step to the sidelines this year because they lack the dollars
to participate fully.
This tightening of budgets
also has an effect on the racetracks themselves. The number
of businesses that use the speedway to promote their products
and services decreases.
Competition for fans is an
issue as well. Large crowds not only benefit the racetrack
but, the teams as well. The larger the audience the more one
can charge an advertiser to access it. This competition comes
in many forms; baseball, the movies, DVD's at home, kid's
soccer games and many more.
To combat these challenges
let's look at our strengths.
Our on track product is
exceptional. Those drivers that compete, do so in a
professional manner. From their appearance, to their driving
skill, to their ability to connect with fans and sponsors; our
drivers excel at the highest level.
Our core fans are a
dedicated group of individuals who also serve as great
ambassadors of the sport.
So how do we take a great
product and a powerful team of ambassadors and make the state
of our racing union stronger for us all?
That's what we'll talk about next