NHRA roles for bankruptcy

CMcAllister · 08-03-2020, 01:21 PM

Quote:

Originally Posted by Billy Nees

If the NHRA isn't racing then why hasn't the B.O.D. taken voluntary lay-offs along with pay reductions?

Now THAT'S some crazy talk.

Billy Nees · 08-03-2020, 05:14 PM

Quote:

Originally Posted by CMcAllister

Now THAT'S some crazy talk.

Ya know, I've always said, "I'm crazy, not stupid".

Frank Castros · 08-03-2020, 05:21 PM

If the NHRA were to file for bankruptcy would you guys think that was a good or bad thing.

Rusty Davenport · 08-04-2020, 05:08 PM

Bankruptcy may seem like a sign of trouble, but it is only to some extent in most cases. Bankruptcy is very often a " financial maneuver" in order to regroup and move forward again. Most people even come back stronger than before with a legal regrouping of their finances. Bankruptcy judges and lawyers can make it very comfortable for their clients in most cases. In fact nowadays it carries no shame like it once did, it's considered a way of business.

Mike Jones · 08-04-2020, 05:38 PM

In the early 1980`s, I first heard of a bankruptcy "strategy". The story went like this: max out your lines of credit, whatever anybody would give you, take it. There never was any intention of paying the bills.They payed back pennies on the dollar, if at all. Terrible deal for honest vendors. Not saying NHRA would do anything like that, but many people did.
MJ

08-03-2020, 05:21 PM	#3
Frank Castros VIP Member Join Date: Nov 2001 Location: The Lowcountry. Posts: 3,009 Likes: 2,689 Liked 2,762 Times in 977 Posts	Re: NHRA roles for bankruptcy If the NHRA were to file for bankruptcy would you guys think that was a good or bad thing.

08-04-2020, 05:08 PM	#4
Rusty Davenport Senior Member Join Date: Jun 2005 Location: Nashville N.C. Posts: 506 Likes: 4 Liked 101 Times in 27 Posts	Re: NHRA roles for bankruptcy Bankruptcy may seem like a sign of trouble, but it is only to some extent in most cases. Bankruptcy is very often a " financial maneuver" in order to regroup and move forward again. Most people even come back stronger than before with a legal regrouping of their finances. Bankruptcy judges and lawyers can make it very comfortable for their clients in most cases. In fact nowadays it carries no shame like it once did, it's considered a way of business. __________________ NHRA AND IHRA STOCK ELIMINATOR 2772

08-04-2020, 05:38 PM	#5
Mike Jones VIP Member Join Date: Apr 2012 Location: Connecticut Posts: 1,125 Likes: 1,179 Liked 684 Times in 289 Posts	Re: NHRA roles for bankruptcy In the early 1980`s, I first heard of a bankruptcy "strategy". The story went like this: max out your lines of credit, whatever anybody would give you, take it. There never was any intention of paying the bills.They payed back pennies on the dollar, if at all. Terrible deal for honest vendors. Not saying NHRA would do anything like that, but many people did. MJ