Bob Bondurant School of High Performance Driving Files for Bankruptcy

[Eric]

http://www.msn.com/en-us/autos/news/the-bob-bondurant-school-of-high-performance-driving-files-for-bankruptcy/ar-BBNTRov?ocid=ientp

[pdub]

I'd go bankrupt too, trying to run a whole fleet of race cars all the time.

[studemax]

Let's hope Frank Hawley's School of Drag Racing is not next....
By the way, I have a good friend who has been to Frank's classes twice - once to get in a few runs in the Super Comp digger - and again to get his Super Gas license.
It's not cheap - but it's the most fun he'd had with his clothes on.

[SuperBuickGuy]

Chapter 11. Debts equal to assets... this is nothing more or less then a Court-supervised negotiation with creditors. Really, nothing to see here...
If you like soaps, though (or Street Outlaws which is the same thing) look for the creditor who is objecting to everything... likely they have a sweetheart deal and aren't willing to renegotiate. As an attorney who has done bankruptcy law, these really are a lot of fun to watch because both sides will have driven stakes into the ground and "WILL NEVER MOVE" until the judge rewrites their contract and makes them both unhappy.* To restate, the fun is watching their expression when a judge cuts through the BS and does what needs to be done - usually quite fairly - and puts them in a judicial time out while he fixes all that ails them.

*the goal of a Court decision is to make both sides equally unhappy

[DanStokes]

It's my observation that recreation businesses have a defined life - someone gets the idea, they get funding (from wherever), they get a facility, and, if people are interested, it goes great guns for some period of time. Then the interest kind of plays out, fewer people come, the life cycle runs out, and the doors close. A recreational business is, by definition, after people's discretionary money and when they lose interest (or the economy tanks) the customer no longer discresses. There are always a few hard-core fans who bemoan the loss of the business but if the critical mass of interest isn't met the math becomes pretty straightforward.

Not saying I LIKE this process but that IS the deal as I've observed it over my many years.

Dan

[Deaf Bob]

In the 70's there were 6 motocross/off road riding areas near here under 30-40 miles. Now one.
More bikes, less areas to ride.

[RockJustRock]

Bondurant is basing out of Wild Horse Pass, formerly Firebird. Strange business things happen there a LOT. Trivia Time Funny Car Driver Charlie Allen built Firebird on Indian Land after the Irvine Corp; closed OCIR. He wanted a place nobody could close on him. So the Indians did. But GOOD prevailed and it remains a motorsport park instead of an industrial park.