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Discussion Starter #1
With housing crashing and the economy slowing I was wondering if anyone has noticed less attendance at track events? Does anyone have any observations? I work for a fund and am rather bearish so I am wondering if anyone can confirm/deny my assumption that attendance would be down. Anyone notice other signs of an economic slowdown, such as less people eating at restaurants, less discretionary spending of any kind (we all know that housing and auto sales are both down).

Thanks all,
LMM
 

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Nah, most of these track guys finance their auto hobby, and rates are low right now. Don't you ever watch the advertisements on Speed channel? rotfl
 

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>Anyone notice other signs of an economic
> slowdown, such as less people eating at
>restaurants, less discretionary

Well, after the dot com bust everyone was commenting on how it was much less crowded on 101 and 280 out here in silicon valley. (local highways between SJ and SF) Sure was noticeable to me - no more gridlock! Then a few years ago the tons of cars came back and traffic became awful again. Housing may be 'down' (though certainly not in some neighborhoods out here) but I've noticed that traffic is still awful. They are still driving and it costs me $4.15 a gallon for the lotus now (91 oc)
 

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I'll will spend more days at the track this year than ever before.:nanner:
Skip Barber has raised it's prices to reflect higher fuel and track rental costs.
 

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Haven't you heard, the government is GIVING us back money that we already earned! Let's all hit the tracks!
 

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I have noticed attendance is down -- slightly. But I live in San Francisco, and there are three tracks within two hours of me, and our track schedules are 12 months a year -- so my region can definitely be affected by a supply/demand situation. I think the greater economic situation is but one factor in an attendance drop (if there is in fact an attendance drop happening). I think the more significant factor may be that track events abound (at least compared to, say, 2005), and drivers are becoming more choosy about who they run with.

I think the only people who can really answer this question are the track day organizers who've been at this for a few years. Maybe they can chime in. :)
 

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Recession?

How about Harley Davidson laying off people b/c of fewer orders.

What about Vegas? Been there recently? Not as many blue collars taking LOC on their homes for $5K week trips as 2 years ago. You can get onto a craps table now without problems during week days.

While Im not a regular at the track...most of the people I met there did not seem to have issues dropping a few bills...and they seemed pretty full to me. Again...Im not a regular, but there seemed to be plenty of happy customers!
 

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Discussion Starter #12
Gov't

# 8 Said: "Haven't you heard, the government is GIVING us back money that we already earned! Let's all hit the tracks!"

Please don't get me started on this. Our Government is doing its best to destroy what little credibility it has left. Get ready to pay much more in taxes to get us out of this mess since they are handing out tons of dollars that they don't have to everyone, even those who caused this mess!

LMM
 

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Haven't you heard, the government is GIVING us back money that we already earned! Let's all hit the tracks!
ha!! but most people who can afford this luxury WON'T be getting money back. Just found out :-(
 

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it's why it's called the "Track Pipe." We'll do anything to fund a track event. Nothing slowing down my area.
 

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With housing crashing and the economy slowing I was wondering if anyone has noticed less attendance at track events? Does anyone have any observations? I work for a fund and am rather bearish so I am wondering if anyone can confirm/deny my assumption that attendance would be down. Anyone notice other signs of an economic slowdown, such as less people eating at restaurants, less discretionary spending of any kind (we all know that housing and auto sales are both down).

Thanks all,
LMM
I have been waiting for this to play out too. As a fund manager, I watch this stuff all day long and I think if track attendance hasnt been affected yet, it will soon.

If the recession sticks, then u'll see the typical cutbacks in discretionary spending, like, say, sportscars! Gas prices are out of control at $115 a barrel, my family in fla. says the weekend fishermen and taking it on the chin, adn simply taking their boats out less. Restaurants are starting to see it (lengthy NYT article from a week or so ago).

It's really not complicated: with declines in both home prices and equities (the two major sources of the "wealth effect") combined with spikes in food, gas and most commodities, people will spend less. We have seen a little stabilization in the SP500 since March but not enough to stimulate things, esp. with most stock investors down on the year.

fun fun fun.
 

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Yeah, I'm in the same boat, but I will continue to poke fun at the idiocy of our government.
wait, the idiocy of OUR gov't? whatchu talking bout, Willis? i just wish theyd spend more money.

Doing a heck of a job, Brownie !!!

:D
 

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Discussion Starter #20
"It's really not complicated: with declines in both home prices and equities (the two major sources of the "wealth effect") combined with spikes in food, gas and most commodities, people will spend less. We have seen a little stabilization in the SP500 since March but not enough to stimulate things, esp. with most stock investors down on the year."

Snuggles, I am so confused about the stock action this week. I work at a distressed debt hedge fund so admittedly I am pretty cynical but this bear market rally has really gotten ahead of itself, IMHO. Housing broke down before the economy got soft and now people are losing jobs and inflation is getting crazy. Foreclosures are nowhere close to being over as all the 2.28 and 3.27 subprime AND alt-A loans are still resetting in force and I bet short term rates spike from here so they won't be helped anymore on resets. Financials report horrible results but are up. Yeah, I thought they threw out the kitchen sink three quarters ago. How many kitchens do they have in their homes?!! I just don't see any reasons why stocks should be going up when we are this early in the recession!

I have to stop now or I'll throw out the computer
LMM
 
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