Driver Pensions... Uggghh

m00npie
m00npie Posts: 697
edited February 2007 in The Clubhouse
http://www.wjla.com/news/stories/0207/395007.html

Although my heart goes out to drivers such as Jerry Nadeau and his situation, I think the #24 & 20 are totally wrong on this. These guys get paid big money and they want the sport to take care of them when they stop racing just because other sports do and they can't effectively manage their own money? Well, I'm an independent business owner that does work for Fortune 500 companies, should they contribute to my pension because they make Billions? Not going to happen nor should it. (Bad analogy, I know, since although I help save them money, I’m just a part of the cost center and not the revenue generator)

Anyway, just under 2 weeks to go!!
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  • Refefer
    Refefer Posts: 1,280
    edited February 2007
    I'm not entirely sure I agree with you on this Moon. I mean: look at every other sport out there, and you'll see huge payouts, pensions, medical insurance, and others paid by the teams and management. There risks of injury are about on par with Nascar with the exception that it's much easier to die due to it.

    Nascar is the most popular sport in the nation, and although I'm not a fan, I think the drivers should have some security in their futures. Honestly, it's not gonna cost Nascar that much.
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  • F1nut
    F1nut Posts: 50,428
    edited February 2007
    Eh, it's not F1, the most popular sport in the world, who cares?
    Political Correctness'.........defined

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  • Dennis Gardner
    Dennis Gardner Posts: 4,861
    edited February 2007
    Is there a bigger example of a monopoly in America than Nascar, to build itself into such a position of market share without Federal involvement or employee upheaval? I don't recall any other doing it so under the radar.

    It was only a matter of time before someone whined about not getting their cut.
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  • Demiurge
    Demiurge Posts: 10,874
    edited February 2007
    Pensions are quite old hat in terms of still being offered these days unless you're a government worker. There they can just tax people when the coffers dry up.

    Outstanding pensions have been slowly bankrupting the U.S. auto industry, and so many other businesses. True, they never should have been promised, which is why they're being done away with.

    I don't see how NASCAR drivers can claim they're owed one thin dime. Nobody forced a gun to their head and told them they had to race cars for a living.
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  • WilliamM2
    WilliamM2 Posts: 4,771
    edited February 2007
    The drivers don't work for NASCAR, they work for the team they drive for. If anyone should be providing a pension it is their employer.
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  • daboyz
    daboyz Posts: 5,207
    edited February 2007
    IMHO they're all getting paid very well and should have lived within their means and invested properly. former NFL players are doing the same thing.Actually I think they started it.
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  • hoosier21
    hoosier21 Posts: 4,411
    edited February 2007
    don'y the major sports NFL NBA MLB have player unions, and it is from these unions the pensions come from, like the players pay into it to get something back?

    Or am I wrong?
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  • ledhed
    ledhed Posts: 1,088
    edited February 2007
    F1nut wrote:
    Eh, it's not F1, the most popular sport in the world, who cares?
    Exactly!

    But really, it is not the sport's business to provide, it is the teams.
    God shows his love for us in that while we were still sinners, Christ died for us. - Romans 5:8
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  • m00npie
    m00npie Posts: 697
    edited February 2007
    WilliamM2 wrote:
    The drivers don't work for NASCAR, they work for the team they drive for. If anyone should be providing a pension it is their employer.


    Bingo! But I guess the reason they (The teams) don't is for tax purposes. Treating them as Corp-to-Corp or as an independent is much cheaper than paying employee tax on a 500K to 4 million dollar salary plus.... a pension.

    F1nut - Will you be cheering for Montoya to do well or do poorly or just don't care?
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  • ohskigod
    ohskigod Posts: 6,502
    edited February 2007
    m00npie wrote:

    F1nut - Will you be cheering for Montoya to do well or do poorly or just don't care?


    hee hee.... I was wondering the same thing

    and didnt Schumacher retire?
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  • read-alot
    read-alot Posts: 812
    edited February 2007
    I have been in the sport for 30 years now so I am bias toward helping the guys who haven't made the millions of dollars like todays drivers are making.

    The builders of NASCAR were and still are forbidden to form unions.

    Guys like Bobby Allison who spent their entire life building this sport shouldn't be at the mercy of handouts from other drivers when you see that the France family are in the richest people rankings yearly.

    What you see as payouts are not what the drivers receive, that is very inflated.

    Multimillion dollar drivers have just come about in the last decade or so that means for forty years someone raced to build the sport.
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  • F1nut
    F1nut Posts: 50,428
    edited February 2007
    I hope he does well, but care less than I did when he raced in F1.
    Political Correctness'.........defined

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  • read-alot
    read-alot Posts: 812
    edited February 2007
    Oh I forgot they (NASCAR) could have taken the monies they were (are?) giving the Rainbow Coalition and set up a distress fund for the people who really deserve it.
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  • m00npie
    m00npie Posts: 697
    edited February 2007
    read-alot wrote:
    What you see as payouts are not what the drivers receive, that is very inflated.

    What do they receive then? They get a base amount say 2 million for example. They then get a negotiated % of winnings in addition to any marketing revenue for doing commercials for companies outside their primary sponsors. Finally, they get merchandising revenue from products they sell. Teresa, for example, makes more than most drivers just from the merchandising revenue of the #3 brand.

    read-alot wrote:
    Multimillion dollar drivers have just come about in the last decade or so that means for forty years someone raced to build the sport.

    Very true. They started to get those payouts as soon as BIG TV deals and mainstream sponsors arrived. As for those that built the sport and gave their fortunes and in some cases their lives to build it, go back and ask any of them and I bet the majority would tell you they would do it again without asking for anything in return. True racers of the past that could actually work on their own stuff or perhaps would even ride in the hauler to the track have past. This generation of prima donnas makes me fear for this sport. It’s like the recording industry. They are concerned more about marketability than they are talent.

    If you never heard a Billy Joel song, and have his material released today, do you think he would be as popular or have as much success today as he did in his era? Not with that mug.

    Most of these guys today are found so early in their careers, they don’t know what struggle is, I can see why they want someone to take care of them after they stop driving.

    The #8 had a great quote early last season after the discussions of the super speedway dangers and the #20 said someone is going to die if they don’t change something…

    “I get paid a lot of money to do this so I’m not going to complain”
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  • read-alot
    read-alot Posts: 812
    edited February 2007
    m00npie wrote:
    What do they receive then?

    That depends on how good they are, talent and marketability.

    There are very few good drivers and a boat load of pretty boys who can talk the talk but that's it.

    The numbers as winning dollars printed in the fish wrappers are not represented on the checks you recieve from NASCAR. They have all the contengent money listed. You don't get it all. Then thats split with the car owner. You're barely left with enough to pay for your helicopter to take you from your motorcoach to your jet...ha ha.

    Mrs. Earnhardt should take the money and leave, but I don't advise her so we will see.

    The France brothers were at 3 Billion, they should help those who helped them. There are not that many who need it still living anyway.
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