Jim France steps down as International Speedway Corp. CEO

[Gilbert Sam, Jr.]

Get NASCAR News, Rumors, Notes and Tidbits on Raceway Report
http://www.racewayreport.com

Tuesday, April 14, 2009
Despite big losses Sonic Automotive CEO Bruton Smith pay jumps 60%: As
chairman and chief executive of Sonic Automotive, Bruton Smith
received more than $4.2 million in compensation last year, a nearly 60
percent increase over 2007. Most of that gain, however, was from
nearly $2.4 million in exercised stock options, according to a company
filing Thursday with federal regulators. Without that, Smith received
about $1.8 million – about 30 percent less than in 2007, when he got a
much bigger bonus but didn't exercise any options. The Observer counts
salary, bonuses, stock awards, gains from exercised options and perks
as total pay. A Charlotte-based Fortune 500 company, Sonic is one of
the nation's largest auto dealers, with 164 franchises in 15 states.
The company and its competitors have been battered in the recession,
which has severely curbed vehicle purchases. Sonic last week reported
a fourth-quarter loss of $685.6 million, compared with a $23 million
profit a year earlier. (ThatsRacin.com)
http://www.gnextinc.com/nascar/news/lowes.html

Jim France steps down as International Speedway Corp. CEO: Jim France
will step down as chief executive officer of International Speedway
Corporation effective June 1 with Lesa Kennedy succeeding him in that
role. Jim France is the son of NASCAR founder Bill France Sr., brother
of former NASCAR chairman Bill France Jr. and uncle of current NASCAR
chairman Brian France. Brian France is Lesa Kennedy’s brother. Jim
France will retain his role as chairman of ISC’s board of directors.
Lesa Kennedy will remain vice chair of the ISC board. “While I will
miss being involved in the daily operations of ISC, I will continue to
provide strategic oversight and support to Lesa and the rest of the
ISC senior management team,” Jim France said in a memo to ISC
employees. “Under Lesa’s outstanding leadership, the company’s Board
of Directors has every confidence that ISC will remain a dynamic and
successful company for many years to come.” (ThatsRacin.com)
http://www.gnextinc.com/nascar/news/nascar.html

Kentucky Speedway trial unlikely to affect 2010 schedule: The
likelihood that Kentucky Speedway will be awarded a 2010 NASCAR Sprint
Cup race has become even more remote because an antitrust lawsuit by
the track founders against NASCAR and International Speedway Corp. now
likely won’t be resolved until July at the earliest. The case, which
is in U.S. Court of Appeals in Cincinnati, is not included in the
hearing calendar finalized Monday for a two-week session beginning
April 20. Although the court could still add the case to the schedule,
that would be rare in a case such as this one. The next two-week
hearing session begins June 8 – the Monday prior to the NASCAR
Nationwide Series race at the track. (SceneDaily.com)
http://www.gnextinc.com/nascar/track/news.html

Morgan-McClure Motorsports set to return to Cup series:
http://www.gnextinc.com/nascar/news.html

GoDaddy.com to be presenting sponsor of Southern 500:
http://www.gnextinc.com/nascar/news/darlington.html

Follow RacewayReport.com on Twitter @Raceway_Report
http://www.twitter.com/Raceway_Report

Find NASCAR MySpace Graphics at
http://www.gnextinc.com/nascar/myspace/graphics_1.html

Raceway Report's NASCAR News Index available at
http://www.gnextinc.com/nascar/news/index.html

You can always reply, and voice your opinion via e-mail or at Google
Groups.