Nhra selling calif headquarters

Ralph A Powell · 05-18-2021, 09:33 PM

AutoWeek has a article about NHRA selling it’s Glendora Headquarters Building. Moving some of it’s operations to Indy! Are short of $$$$$$$?

ALMACK · 05-18-2021, 09:35 PM

You treed me by 2 minutes.

Not a big surprise.
Makes more sense for the HQ to be in Indy....eventually.

https://www.autoweek.com/racing/nhra...MFlaanxQ9SB60#

CMcAllister · 05-18-2021, 11:03 PM

Makes more sense for them to be in Indy.

Makes sense that anyone would want to leave California.

Atlanta and California. Pretty nice bump for the ol' checking account.

GUMP · 05-19-2021, 06:52 AM

As a business move, I don't understand the logic of selling the building and then leasing half of it back. Why not just lease half of the building out for long term NHRA income?

Frank Castros · 05-19-2021, 07:53 AM

"Evidently some of the California-based executives will remain on the West Coast, while day-to-day operations will occur out of the Indianapolis."

We can't expect the "executives" to give up their sunny southern California lifestyles can we.

Frank Castros · 05-19-2021, 08:30 PM

Quote:

Originally Posted by Frank Castros

"Evidently some of the California-based executives will remain on the West Coast, while day-to-day operations will occur out of the Indianapolis."

We can't expect the "executives" to give up their sunny southern California lifestyles can we.

If they were smart, and we know they're not, they would would relocate the whole deal to Indiana which would be a net get gain of 23% in tax relief. Just not as glamorous as Wolfgang Puck's Smoked Salmon Pizza.
I'm just saying.

BigBlockBill · 05-20-2021, 02:12 PM

Quote:

Originally Posted by GUMP

As a business move, I don't understand the logic of selling the building and then leasing half of it back. Why not just lease half of the building out for long term NHRA income?

It only makes sense when looked at through tax codes, both Federal and State.

nickh · 05-20-2021, 03:47 PM

Wonder if they got a PPP Loan?

Jared Jordan · 05-20-2021, 03:48 PM

Anyone need a 64 Dodge?

Feels like I’m not going to have an available NHRA race in California by the time I get it back together. 😒

SDT1DYI · 05-19-2021, 10:39 AM

I realize many racers have had complaints with NHRA over the years for a variety of issues. As a retired CEO, the issues NHRA has faced over these past two years to say have been challenging, would be an understatement. To ask your local State health departments "IF" you can get a permit to hold an event 60-90 days in advance and get no firm commitment, has to be frustrating and then cash flow impacting . This is what happened to our Seattle National event this year.
What would class racing look like if NHRA did not exist? What sanction body to going to stand up and fight for the rights to build and race OEM Vin tagged cars?
If NHRA needs to sell assets to raise cash, sell them. If they need to reduce head counts, do so. These are difficult decisions but must be made to survive.
As class racers, we need a strong sanctioning body that works in our interests and survives in this difficult operating enviroment.

Steve Teeter STK/SS. 620

05-18-2021, 09:33 PM	#1
Ralph A Powell Member Join Date: Oct 2017 Location: Bay City Texas Posts: 385 Likes: 2 Liked 225 Times in 136 Posts	Nhra selling calif headquarters AutoWeek has a article about NHRA selling it’s Glendora Headquarters Building. Moving some of it’s operations to Indy! Are short of $$$$$$$?

05-18-2021, 09:35 PM	#2
ALMACK VIP Member Join Date: Jan 2009 Location: Bardstown, KY Posts: 1,927 Likes: 121 Liked 347 Times in 123 Posts	Re: Nhra selling calif headquarters You treed me by 2 minutes. Not a big surprise. Makes more sense for the HQ to be in Indy....eventually. https://www.autoweek.com/racing/nhra...MFlaanxQ9SB60# __________________ Alan Mackin Stock 3777/ SS 3377 P/SA & SS/PA Fox Thunderbird I/PS '95 Mustang GT Last edited by ALMACK; 05-18-2021 at 09:38 PM.

05-18-2021, 11:03 PM	#3
CMcAllister Senior Member Join Date: Sep 2006 Location: Fulton County, PA Posts: 599 Likes: 15 Liked 886 Times in 246 Posts	Re: Nhra selling calif headquarters Makes more sense for them to be in Indy. Makes sense that anyone would want to leave California. Atlanta and California. Pretty nice bump for the ol' checking account.

05-19-2021, 06:52 AM	#4
GUMP VIP Member Join Date: May 2002 Location: Shelby, NC Posts: 1,770 Likes: 2,047 Liked 2,171 Times in 505 Posts	Re: Nhra selling calif headquarters As a business move, I don't understand the logic of selling the building and then leasing half of it back. Why not just lease half of the building out for long term NHRA income?

05-19-2021, 07:53 AM	#5
Frank Castros VIP Member Join Date: Nov 2001 Location: The Lowcountry. Posts: 2,933 Likes: 2,509 Liked 2,552 Times in 934 Posts	Re: Nhra selling calif headquarters "Evidently some of the California-based executives will remain on the West Coast, while day-to-day operations will occur out of the Indianapolis." We can't expect the "executives" to give up their sunny southern California lifestyles can we.

05-20-2021, 03:47 PM	#8
nickh Senior Member Join Date: Sep 2010 Location: Houston,Texas Posts: 798 Likes: 3,178 Liked 574 Times in 176 Posts	Re: Nhra selling calif headquarters Wonder if they got a PPP Loan?

05-20-2021, 03:48 PM	#9
Jared Jordan Senior Member Join Date: Jun 2004 Location: Modesto, CA Posts: 608 Likes: 188 Liked 498 Times in 114 Posts	Re: Nhra selling calif headquarters Anyone need a 64 Dodge? Feels like I’m not going to have an available NHRA race in California by the time I get it back together. 😒 __________________ Jared Jordan 9 B/SA 2024 Jeg's D7 All Star - Stock

05-19-2021, 10:39 AM	#10
SDT1DYI Member Join Date: Nov 2016 Location: Indianola Washington Posts: 396 Likes: 0 Liked 450 Times in 145 Posts	Re: Nhra selling calif headquarters I realize many racers have had complaints with NHRA over the years for a variety of issues. As a retired CEO, the issues NHRA has faced over these past two years to say have been challenging, would be an understatement. To ask your local State health departments "IF" you can get a permit to hold an event 60-90 days in advance and get no firm commitment, has to be frustrating and then cash flow impacting . This is what happened to our Seattle National event this year. What would class racing look like if NHRA did not exist? What sanction body to going to stand up and fight for the rights to build and race OEM Vin tagged cars? If NHRA needs to sell assets to raise cash, sell them. If they need to reduce head counts, do so. These are difficult decisions but must be made to survive. As class racers, we need a strong sanctioning body that works in our interests and survives in this difficult operating enviroment. Steve Teeter STK/SS. 620