NASCAR Way: The Business That Drives the Sport
- Book Review,
by Robert G. Hagstrom
Amazon.com
The author of The Warren Buffett Way gets behind the steering wheel of professional stock car racing--NASCAR, to be exact--making a few gushing laps around the track of America's largest and fastest-growing spectator sport. Although filled with plenty of local color, The NASCAR Way primarily focuses on the phenomenal financial success of a sport that began in the tiny, dirt-road hamlets of Dixie. Originally a way for moonshine runners to compete against each other by the light of day in informal--and legal--settings, stock car racing was organized by "Big Bill" France in the late 1940s under the aegis of NASCAR (National Association for Stock Car Auto Racing) but soon moved to the larger, asphalt tracks of today. A half-century after NASCAR's inception, the sport boasts lucrative corporate sponsorship, growing cable TV exposure, and fan loyalty to rival--if not surpass--that of every other professional sports organization. While the bottom line ultimately turns Hagstrom's crank more than the personality of the sport itself, the author still has fun with his subject: "Stock car drivers do things in cars that would make the rest of us faint. Try to imagine driving 100 miles an hour, then 120, then 160. Imagine keeping up that pace for three and a half hours.... Now imagine forty-one other cars around you, all doing the same thing, just inches away from you, scraping against the side of your car and nudging your bumper as they try to pass you. And you can never slack off."
From Library Journal
Hagstrom (The Warren Buffett Way, LJ 11/1/94) looks at the business side of what is the second-largest spectator sport in the United States. Unlike stick-and-ball sports, which are guided by a governing body of team owners, NASCAR (National Association of Sports Car Racing) is wholly owned by one family, the Frances. NASCAR has three guiding principles: parity, safety, and cost, and its rules are structured so that money alone does not guarantee success on race day. Part of its success is in limiting venues; in each particular class, there is only one race on a given weekend, which avoids the dilution of hockey, basketball, and baseball. All this pays off in advertising revenue: racing fans know who sponsors teams and events, and they reciprocate by buying. What NASCAR has found almost intuitively is a lesson that Harley Davidson learned the hard way: it is better to have demand over product availability. Given the popularity of auto racing, this book will be of interest to most public libraries.?Steven Silkunas, DCO, SEPTA/FRONTIER, Conshohocken, Pa.Copyright 1998 Reed Business Information, Inc.
Book Description
From the bestselling author of The Warren Buffett Way, a revealing inside look at the booming business–and investment opportunities–of NASCAR "Hagstrom’s insights and observations bring a refreshing ‘outside’ business perspective to our industry."–From the Foreword by William C. France, President, NASCAR "From its origins in Daytona in the ‘50s to today’s live network broadcasts for millions of devoted fans, Robert Hagstrom offers an in-depth look at the fastest-growing sport in the country. The NASCAR Way explains how and why dozens of Fortune 500 companies have been lining up to jump on board."–Michael T. Hargrave, Senior Motorsports Manager, Anheuser-Busch, Inc. "It is great to be associated with NASCAR, the France family, and for me to get paid for what I love–to race! In The NASCAR Way, you see a prime-time sport."–Dale Earnhardt, 7-time NASCAR Winston Cup champion "An accurate and entertaining perspective to the unbridled capitalism that has built NASCAR into the #2 sport in America after football."–Bill Nielsen, Director, Promotion Development and Licensing, Kellogg USA, Inc. "Hagstrom understands how our business works both on and off the track. His perception of our sport will have you racing through the pages on the edge of your seat. The book is definitely a winner!"–Dale Jarrett, Winston Cup driver
Download Description
"Hagstrom understands how our business works both on and off the track. His perception of our sport will have you racing through the pages on the edge of your seat. The book is definitely a winner!"--Dale Jarrett, Winston Cup driver
Book Info
An in-depth look at one of the fastest-growing sports in the United States, NASCAR racing. Explains how and why fortune 500 companies are clamoring to support the growing sport, detailing the capitalism that is driving NASCAR. Brings a business perspective to the world of racing. Softcover. DLC: NASCAR (Association).
The publisher, John Wiley & Sons
A $2 billion industry, stock car racing is undoubtedly the fastest growing entertainment sports business in the country. From its legendary beginnings as souped-up transportation for moonshine runners to its current status as a commercial phenomenon, stock car racing has always been closely linked with business. Robert Hagstrom takes the first insider's view of the business side of this sport whose popularity has superseded baseball, football, and yes, even basketball.
From the Back Cover
From the bestselling author of The Warren Buffett Way, a revealing inside look at the booming business–and investment opportunities–of NASCAR "Hagstrom’s insights and observations bring a refreshing ‘outside’ business perspective to our industry."–From the Foreword by William C. France, President, NASCAR "From its origins in Daytona in the ‘50s to today’s live network broadcasts for millions of devoted fans, Robert Hagstrom offers an in-depth look at the fastest-growing sport in the country. The NASCAR Way explains how and why dozens of Fortune 500 companies have been lining up to jump on board."–Michael T. Hargrave, Senior Motorsports Manager, Anheuser-Busch, Inc. "It is great to be associated with NASCAR, the France family, and for me to get paid for what I love–to race! In The NASCAR Way, you see a prime-time sport."–Dale Earnhardt, 7-time NASCAR Winston Cup champion "An accurate and entertaining perspective to the unbridled capitalism that has built NASCAR into the #2 sport in America after football."–Bill Nielsen, Director, Promotion Development and Licensing, Kellogg USA, Inc. "Hagstrom understands how our business works both on and off the track. His perception of our sport will have you racing through the pages on the edge of your seat. The book is definitely a winner!"–Dale Jarrett, Winston Cup driver
About the Author
ROBERT G. HAGSTROM is Director of Legg Mason Wood Walker Capital. Previously, he was general partner of Focus Capital Advisory, L.P., where he managed the Focus Trust Mutual Fund and separately managed accounts. Mr. Hagstrom is also the author of the New York Times bestseller The Warren Buffett Way, The Warren Buffett Portfolio, and the forthcoming The Essential Buffett, all from Wiley.
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