The NASCAR Way: The Business That Drives the Sport

Overview

From the bestselling author of The Warren Buffett Way, a revealing inside look at the booming business-and investment opportunities-of NASCAR

"Hagstrom's insights and observations bring a refreshing 'outside' business perspective to our industry."
--From the Foreword by William C. France, President, NASCAR

"From its origins in Daytona in the '50s to today's live network broadcasts for millions of devoted fans, Robert Hagstrom offers an in-depth look at the fastest-growing sport ...

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Overview

From the bestselling author of The Warren Buffett Way, a revealing inside look at the booming business-and investment opportunities-of NASCAR

"Hagstrom's insights and observations bring a refreshing 'outside' business perspective to our industry."
--From the Foreword by William C. France, President, NASCAR

"From its origins in Daytona in the '50s to today's live network broadcasts for millions of devoted fans, Robert Hagstrom offers an in-depth look at the fastest-growing sport in the country. The NASCAR Way explains how and why dozens of Fortune 500 companies have been lining up to jump on board."
--Michael T. Hargrave, Senior Motorsports Manager, Anheuser-Busch, Inc.

"It is great to be associated with NASCAR, the France family, and for me to get paid for what I love-to race! In The NASCAR Way, you see a prime-time sport."
--Dale Earnhardt, 7-time NASCAR Winston Cup champion

"An accurate and entertaining perspective to the unbridled capitalism that has built NASCAR into the #2 sport in America after football."
--Bill Nielsen, Director, Promotion Development and Licensing, Kellogg USA, Inc.

"Hagstrom understands how our business works both on and off the track. His perception of our sport will have you racing through the pages on the edge of your seat. The book is definitely a winner!"
--Dale Jarrett, Winston Cup driver

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Editorial Reviews

Library Journal
Hagstrom The Warren Buffett Way, LJ 11/1/94 looks at the business side of what is the second-largest spectator sport in the United States. Unlike stick-and-ball sports, which are guided by a governing body of team owners, NASCAR National Association of Sports Car Racing is wholly owned by one family, the Frances. NASCAR has three guiding principles: parity, safety, and cost, and its rules are structured so that money alone does not guarantee success on race day. Part of its success is in limiting venues; in each particular class, there is only one race on a given weekend, which avoids the dilution of hockey, basketball, and baseball. All this pays off in advertising revenue: racing fans know who sponsors teams and events, and they reciprocate by buying. What NASCAR has found almost intuitively is a lesson that Harley Davidson learned the hard way: it is better to have demand over product availability. Given the popularity of auto racing, this book will be of interest to most public libraries.Steven Silkunas, DCO, SEPTA/FRONTIER, Conshohocken, Pa.
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Product Details

  • ISBN-13: 9780471399209
  • Publisher: Wiley
  • Publication date: 1/19/2001
  • Edition number: 1
  • Pages: 254
  • Product dimensions: 9.00 (w) x 6.00 (h) x 0.58 (d)

Meet the Author

ROBERT G. HAGSTROM is Director of Legg Mason Wood Walker Capital. Previously, he was general partner of Focus Capital Advisory, L.P., where he managed the Focus Trust Mutual Fund and separately managed accounts. Mr. Hagstrom is also the author of the New York Times bestseller The Warren Buffett Way, The Warren Buffett Portfolio, and the forthcoming The Essential Buffett, all from Wiley.
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Table of Contents

Riding with Elmo.

Rules of the Road.

It Takes Money to Race.

Prime Time.

The Meanest Mile.

True American Heroes.

Forty-Two Teams on the Same Field at the Same Time.

Thunder Road into the Next Century.

Epilogue.

Notes.

Index.

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Sort by: Showing all of 2 Customer Reviews
  • Anonymous

    Posted March 17, 2000

    I met Elmo

    I'm a NASCAR fan and fel that I had a pretty good handle on the sport having lived in the Daytona area for more than five years. If you live in Daytona you can't help but know a lot about the sport since they give you NASCAR updates on the radio two or three times a day and the local paper might as well be published by the Speedway Corporation. Robert Hagstrom blends enough of the sport itself with the nature of the business to build a primer for fan, business person or the millions of potential fans who can't quite understand watching cars go around in circles...for hours. I've suggested the book to a number of people who said that they have been interested in the sport but have never been to a race. I think that raceday becomes more understandable if you know how all of the parts blend together to make the show work. I got to this website because I wanted to suggest The NASCAR Way to someone I just met and wanted to e-mail him the title and author and a means to obtain a copy. His corporation is exploring the sport and looking at packaging the hospitality and marketing associated with their sponsorship. He will be light years ahead just by reading The NASCAR Way. As a rabid fan (I'm writing this from Darlington) I admit to a bias and that anything remotely interesting about racing might attract me. But, having met Elmo Langley and known who he was, I was brought to tears...and I don't cry much. Bill France was originally hesitant about supporting Hagstrom in his effort to pen this book. I'm sure glad he reconsidered.

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  • Anonymous

    Posted March 10, 2000

    An Inside View of NASCAR

    I'm not a racing fan, but I am a person who enjoys a good book with a great story. In The NASCAR Way, Robert Hagstrom takes the reader into every facet of the sports organization that is NASCAR. If you have an appreciation for the sport, this will be a great book for you, if not, you like me may gain an appreciation of both the sport and the NASCAR way of doing things. How this empire rose from a few bootleggers engaging in afternoon challenges to a multi-billion dollar industry is fascinating. Perhaps the most fascinating of all is the way this business works together at every level, from upper management, to track personnel, to racing teams and corporate sponsors, to the huge retail business, to loyal fans that fuel the entire machine with their support. I highly recommend The NASCAR Way, I found it to be both enjoyable and a real learning experience.

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