Chrysler, Ford and General Motors -- three of the four manufacturers that participate in NASCAR -- are pleading with Congress for a bailout to prevent their companies from going bankrupt.
"I'm writing you as a concerned American who wants what is best for our general country," France wrote. "Of course, the domestic automobile manufacturers play a very important part of the heritage of NASCAR, but more importantly, it is vital for all of America."
The letter, a copy of which was obtained Saturday by The Associated Press, was addressed to Senate Majority Leader Harry Reid, Senate Minority Leader Mitch McConnell, Sen. Chris Dodd, chairman of the Senate Banking, Housing and Urban Affairs Committee, and Sen. Richard Shelby, the senior Republican on the Banking Committee. It was dated Tuesday.
France's letter warned that if the auto industry fails, 3 million people would lose their jobs in the first year, and another 2.5 million over the following two years. He said personal income in the U.S. would drop by $150 billion in the first year and domestic automobile production -- even by foreign manufacturers -- would likely drop to zero.
"For these manufacturers to survive, your assistance is urgently needed," France wrote. "By immediately supporting America's automobile industry, you can help our nation avoid a devastating economic blow.
"We urge the Administration and Congress to support the bridge loan package under deliberation. As unattractive as the idea of corporate federal bailouts can be to many Americans, including me, there appears to be no alternative. Federal aid is in the best interest of the entire country."
Although France said last month that NASCAR could survive a manufacturer pullback or pullout, teams throughout the industry are deeply concerned about the stability of the Big Three. Toyota, the only foreign manufacturer that participates in NASCAR, has also seen slumping sales but is on more solid financial footing than the American automakers.
Any sort of pullback by the manufacturers would cripple many race teams, particularly because sponsorship is extremely difficult to find during the economic crisis. Many teams have been forced to release employees, and some are reconsidering their 2009 plans.
On Saturday, the storied Wood Brothers organization said it will scale its program back to just 12 races for next season. Petty Enterprises is in talks to merge with Gillett-Evernham Motorsports, and Chip Ganassi Racing and Dale Earnhardt Inc. announced a partnership late last month.
The plight was front and center during Friday night's season-ending awards ceremony, where several drivers and championship-winning car owner Rick Hendrick asked for support of the automakers. Even Tony Stewart, who drove a Toyota this season but is moving back to Chevrolet next year, touched on it during his speech.
"I hope some of our elected officials are listening tonight," Hendrick said. "Our domestic automakers support more than five million jobs and represent the backbone of our country. So, let's make sure we do the same thing for Main Street what we've done for Wall Street."
Ed Peper, president of General Motors' racing program, accepted the manufacturer's 32nd championship and used his time to ask those in attendance to speak to their local politicians about the automotive industry problems.
"This is the toughest fight of our lives," Peper said. "In difficult times, you find out who your friends are. I hope you'll let your legislators know how vital their support of the domestic auto industry truly is."
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