Chrysler and Kerkorian Stop Fighting 02/12/96 Reuters reported that Chrysler and Kirk Kerkorian have stopped fighting. The corporation and the billionaire reached agreement about several key issues they have been fighting about and both sides have made concessions. For his part, Kerkorian has agreed to end his bid to take over the corporation. Kerkorian, who has acquired roughly 14% of Chrysler, has agreed not to buy any more stock in Chrysler for the next five years. Chrysler appointed an officer form Kerkorian's Tracinda Corp. to their board (in spite of rejecting Kerkorian's first choice for the position). They also agreed to Kerkorian's biggest demand by announcing their intent to double their planned billion dollar stock buyback in 1996 and continue it in 1997 at the billion dollar level. Chrysler will fund the buybacks by selling their non-automotive assets, including their defense and rental car subsidiaries, and other non-essential assets. Part of the agreement includes settling all lawsuits with Lee Iacocca, who joined Kerkorian in his takeover attempt a year ago. Kerkorian has paid Iacocca $32 million, Chrysler has paid him $21 million. Iacocca has withdrawn from the Kerkorian group, terminated all agreements with Kerkorian's Tracinda Corp, and entered a five-year standstill and a two-way non-disparaging agreement with Chrysler. Paul Dever -- The Auto Channel ##--##--##news00128 Class Action Lawsuits Against Ford Seek Replacement of Ignition Switches 02/12/96 Reuters reported that Ford Motor Co. has been hit with numerous class action lawsuits that aim to reverse the company's refusal to replace faulty ignition switches that could cause fires and their refusal to tell their U.S. customers about the problem. The suits allege that ignition switches with a latent design defect that could cause a short circuit, smoke, and fire, were manufactured and installed in cars and trucks made between 1983 and 1993. Two months ago Ford recalled 250,000 vehicles in Canada with identical switches, but refuses to extend that recall campaign to the U.S. Paul Dever -- The Auto Channel ##--##--##news00129 Mazda Expects Low U.S. Sales in 1996 02/12/96 Reuters reported that in spite of the fact that Mazda expects their retail sales to rise by 10-15% in 1996, the corporation is cutting back on sales to daily rental fleets and expects their overall sales to drop. Overall Mazda sales in 1995 fell 24.4% from what they had been in 1994. In order to fight sales declines, Mazda is remaking its image to connote style, sport, fun and value. A new All-Sport package will be offered on the MPV minivan later this year. The package includes fender flares and bumper grill protectors to make the minivan look more like a sport utility vehicle. MPV sales fell 47.6% between 1994 and 1995. Mazda's other big push will be toward getting customers to lease Miatas. The corporation will offer subsidized lease deal on the Miata roadster starting this spring. The deal will try to entice by offering the Miata for lease in exchange for $1,000 down, and 36 Monthly payments that could be as low as $219 per month. Paul Dever -- The Auto Channel ##--##--##news00130 More Sponsors for U.S. 500 02/12/96 The Associated Press reported that the U.S. 500, CART's new IndyCar race that will run on May 26th and which was designed to compete against the Indy 500, has picked up three more sponsors. Pennzoil, Texaco and Indeck, will all pay $200,000 to sponsor the race at Brooklyn, Michigan. The three new sponsors join Toyota Motor Corp. and the Mercedes-Benz unit of Germany's Dailmer-Benz, who became sponsors earlier last week. CART is the sanctioning body for the PPG IndyCar circuit and is feuding with Tony George, founder of the Indy Racing League and president of the Indianapolis Motor Speedway, site of the Indy 500. Paul Dever -- The Auto Channel ##--##--##news00131 Sabco Employee Could Hit Jackpot 02/12/96 NASCAR Winston Cup Series car owner Felix Sabates has offered a 1978 Rolls Royce Silver Shadow II to one member of his crew if the team clears just one of 8 hurdles, which include: Win the Daytona 500 or the Coca-Cola 600, or the Winston Select 500, or the Brickyard 400, or the June Race at Michigan International Speedway. Finish in the top five ahead of Jeff Gordon, or Dale Earnhardt, or Mark Martin, or Rusty Wallace, or Terry Labonte. As soon as one of the conditions is met, Sabates' crew chief Billy Woodruf will be allowed to draw one of the lucky crew member's name out of a hat. Paul Dever -- The Auto Channel ##--##--##news00131 Sterling Marlin Draws Lucky 4? 02/12/96 Associated Press reported that Morgan McClure driver Sterling Marlin drew fourth starting spot for last Sunday's Busch Clash. Marlin drives a Monte Carlo that sports the number four, picked up a rental car on his way to the track that had four miles on it, and stopped at a convenience store on the way where his bill totaled $4.44. Paul Dever -- The Auto Channel ##--##--##news00132 Prodigy Sponsors Dave Marcis 02/12/96 The associated Press reported that Prodigy, the on-line electronic database moved from being an associate sponsor of Dave Marcis' cars to being his primary sponsor. Marcis drives a Chevrolet in NASCAR's Winston Cup. Paul Dever -- The Auto Channel ##--##--##news00133 Daytona International Speedway Gets Wired 02/12/96 The Associated Press reported that the home of Speed Weeks, which features events like last week's Rolex 24 hour endurance race and February 18th's Daytona 500, opened up an internet site at the beginning of the month. Look for race entries, driver quotes, qualifying results, and race lineups and results on Daytona International Speedway's home page. Paul Dever -- The Auto Channel ##--##--##news00134 Skinner Takes Pole for ARCA 200 02/12/96 The Associated Press reported that Mike Skinner won the pole position for the ARCA 200 stock car race. Skinner drives Dale Earnhardt's Chevrolet Montecarlo. Skinner, defending NASCAR's CraftsmanTruck Champion, turned a qualifying lap of 189.32 mph Outside front position went to Tim Steele, who turned a lap at 189.092 in a Ford Thunderbird. Second row went to Bob Schacht at 188:092 and Jeff Purvis at 188.237. Andy Hillenberg, 1994's defending champion, drove a Chevy and turned a time of 188.237 Paul Dever -- The Auto Channel ##--##--##news00135 Busch Clash 96 Starting Grid 02/12/96 Motorsports Newa International published the starting lineup for the 18th annual Busch Clash of `96. Here it is: 
Row STR. CAR  DRIVER/HOMETOWN                    TEAM/CAR
--------------------------------------------------------------------------
1   1st   1   Rick Mast/Rockbridge Baths, VA     Hooters Pontiac
    2nd  18   Bobby Labonte/Corpus Christi, TX   Int'st. Batteries Chev
2   3rd  17   Darrell Waltrip/Franklin, TN       Parts America Chevy
    4th   4   Sterling Marlin/Columbia, TN       Kodak Film Chevrolet
3   5th  16   Ted Musgrave/Franklin, WI          Family Channel Ford
    6th  10   Ricky Rudd/Chesapeake, VA          Tide Ford
4   7th  25   Ken Schrader/Fenton, MO            Budweiser Chevrolet
    8th  96   David Green/Owensboro, KY          Busch Beer Chevrolet
5   9th  71   Dave Marcis/Wausau, WI             Prodigy Chevrolet
    10th  6   Mark Martin/Batesville, AR         Valvoline Ford
6   11th  5   Terry Labonte/Corpus Christi, TX   Kellogg's Chevrolet
    12th 88   Dale Jarrett/Hickory, NC           Qul. Care/Frd Crd Ford
7   13th 94   Bill Elliott/Dawsonville, GA       McDonald's Ford
    14th  8   Hut Stricklin/Calera, AL           Circuit City Ford
8   15th 37   John Andretti/Indianapolis, IN     Kmart/Li'l Csars Ford
    16th  3   Dale Earnhardt/Kannapolis, NC      GM Goodwrench Svc Chev
9   17th 24   Jeff Gordon/Pittsboro, IN          DuPont Refinishes Chev
##--##--##news00136 1996 IMSA Racing Schedule International MotorSports Association reported the 1996 IMSA Racing Schedule. here are the dates: Event/Track/Location Dates ---------------------------------------------------------- Rolex 24 At Daytona February 3-4, 1996 Daytona International Speedway Daytona, Florida 12 Hours of Sebring March 16, 1996 Sebring International Raceway Sebring, Florida Grand Prix of Atlanta April 21, 1996 Road Atlanta Braselton, Georgia Texas World Grand Prix May 5, 1996 Texas World Speedway College Station, Texas New England Dodge Dealers Grand Prix May 27, 1996 Lime Rock Park Lime Rock, Connecticut The Six Hours of The Glen June 9, 1996 Watkins-Glen International Watkins-Glen, New York The California Grand Prix July 14, 1996 Sears Point Raceway Sonoma, California Chrysler 500 at Mosport August 25, 1996 Mosport Park Bowmanville, Ontario, Canada TBA September 15, 1996 Acxiom Grand Prix du Mardi Gras October 6, 1996 New Orleans Street Circuit New Orleans, Louisiana ##--##--##news00137 Will Arrows Have the Driver They Want? 02/12/1996 Atlas F1 reported that the Arrows F1 has been discussing hiring Jos Verstappen as a driver for the team, but that the team and Verstappen's main sponsor have not been able to come to agreement about how much money will be paid. Arrows was scheduled to present their team this Tuesday, but that date may be postponed. Arrows is not the only F1 team having trouble pulling a budget together this year; Ligier is facing only half of the budget they had last year. ##--##--##news00138 Pennzoil and AutoZone Sponsors for NHRA Event in Memphis 02/12/96 The ninth event of NHRA's 19 event Winston Drag Racing Series will be known as The Pennzoil Nationals presented by AutoZone. Pennzoil, a major contingency sponsor of NHRA Winston Drag Racing for more than 15 years, has teamed with AutoZone to reach a multi-year agreement with the NHRA. The two companies will share the title sponsorship of the national NHRA event at Memphis International Motorsports Park. The NHRA event has taken place in Memphis for the last 8 years and will run this year on June 20-23. Purse payout for the race in 1995 was $1,323,000, and 69,400 fans attended the event. 1996's event will be televised by ESPN. news00140.htmlRead all about the new Pennzoil-AutoZone sponsorship alliance in the official NHRA press release. Paul Dever -- The Auto Channel ##--##--##news00139 Official NHRA Press Release: PENNZOIL, AUTOZONE TO SPONSOR NHRA NATIONAL EVENT AT MEMPHIS FOR IMMEDIATE RELEASE GLENDORA, Calif. -- Pennzoil Products Company and AutoZone have reached a multi-year agreement with the National Hot Rod Association to sponsor the national event at Memphis International Motorsports Park near Memphis, Tenn., NHRA President Dallas Gardner announced. The 1996 Pennzoil Nationals presented by AutoZone is scheduled for June 20-23. The race will be the ninth event of the 19-event NHRA Winston Drag Racing Series in 1996. The race is entering its ninth year. It has been conducted at Memphis International Motorsports Park, located in the Memphis suburb of Millington, since its inception in 1988. Tom Floyd, Pennzoil's senior vice president of marketing, said the agreement with AutoZone will enable both companies to reach a particular segment of the motor oil market. "Our research has shown that many racing fans tend to be do-it-yourselfers who are customers of AutoZone as well as Pennzoil," Floyd said, "so this is a great opportunity for us to strengthen our relationship with this important group." Floyd also said he expects to see an increase in sponsorships of this type in the future, "because manufacturer-retailer partnerships can be a very effective marketing tool." Pennzoil Products Company is a wholly-owned subsidiary of Houston-based Pennzoil Company and is the manufacturer of Pennzoil{SYMBOL 226 \f "Symbol"} brand motor oil, the No. 1-selling motor oil in America for the last 10 years. This title sponsorship of an NHRA national event is a natural extension of Pennzoil's longtime commitment to NHRA Winston Drag Racing. Pennzoil sponsors former NHRA Winston Top Fuel champion Eddie Hill, perennial Pro Stock contender Jerry Eckman, sportsman standout Mike Ferderer, and the husband-and-wife sportsman team of Bill and Terri Kent. Pennzoil also has been a major contingency sponsor of NHRA Winston Drag Racing for more than 15 years. In addition, Pennzoil is deeply involved in many other forms of racing, including NASCAR, IndyCar and World of Outlaws. AutoZone is the largest chain of do-it-yourself retail auto parts stores in the United States with more than 1,200 stores in 27 states. The Memphis-based company is also opening more stores per year than any other auto parts chain, with 250 new stores scheduled to open in fiscal 1996. AutoZone cosponsored the NHRA event at Memphis in 1989. "AutoZone is quite pleased to be teaming up with Pennzoil for the local NHRA event," AutoZone spokesperson Laura Nevins said. "Many of our customers in the area are dedicated fans of the race, and as we begin promoting the event toward the end of May, we'll be able to provide them special discount offers unavailable anywhere else." The NHRA national event at Memphis attracted a four-day crowd of 69,400 in 1995, an event record. Professional and sportsman drivers raced for a purse of $1,323,050. Pro champions at the '95 event were Cory McClenathan in Top Fuel, Gary Clapshaw in Funny Car and Mark Pawuk in Pro Stock. The 1996 event will be televised by ESPN. "We're elated that Pennzoil and AutoZone have become sponsors of the the national event at Memphis," Gardner said. "Pennzoil's decision to sponsor this event continues their long history of strong support of NHRA Winston Drag Racing, and we appreciate their belief and confidence in the sport. We're also grateful for the return of AutoZone to the NHRA family of sponsors, and we think they will reap many benefits from their involvement with this event in their back yard." ##--##--##news00140