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11REPORT: Petty Enterprises to close shop, merge with GEM

You don't have to be a NASCAR fan to bemoan the latest reports that Petty Enterprises is closing down. The team is one of the oldest and best known racing outfits in stock car racing, or in any other type of racing for that matter. Lee Petty, winner of the very first Daytona 500 in 1959, was its founder, and his son Richard Petty became the best-known driver in the sport's history, wracking up a record 200 victories. But after 60 years in operation, Petty Enterprise is shutting down.

19Chrysler won't suspend NASCAR program, will reduce funding

A rubber bullet has been dodged: NASCAR can still count on sponsorship dollars and involvement provided by the Detroit 3. Chrysler has stated that it will reduce the funds that flow from its taps into NASCAR, but won't leave the sport. As far as marketing and advertising goes, the "stock cars" still pay. Mike Acavitti, who runs the motorsports program at Dodge, said "We have to get our expenses in line with our revenues," but also said that "We're not going to pull out. We are going to throttle

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