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Latest economic model spurs interest in new NASCAR teams

38 minutes ago

CHARLOTTE, N.C. — Justin Marks tried three times to buy the NASCAR equivalent of a franchise license that guarantees a car a spot in each week’s race. Twice he was outbid, he said, and a third deal fell apart.

Without that charter, Marks had almost no chance to get his team on track in 2021. He ultimately had to lease one from another organization to become the second new NASCAR owner to announce a team in the last month.

As NASCAR plans for the 2022 cost-cutting introduction of the “NextGen” new car, the demand for charters has soared. At least three have been sold since August — ownership records of each charter are not updated by NASCAR until the start of a new year — and the bidding

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NASCAR’s upcoming economic model spurs interest in new teams

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Bubba Wallace (43) drives in traffic during the YellaWood 500 NASCAR auto race at Talladega Superspeedway, Sunday, Oct. 4, 2020, in Talladega, Ala.

AP

Justin Marks tried three times to buy the NASCAR equivalent of a franchise license that guarantees a car a spot in each week’s race. Twice he was outbid, he said, and a third deal fell apart.

Without that charter, Marks had almost no chance to get his team on track in 2021. He ultimately had to lease one from another organization to become the second new NASCAR owner to announce a team in the last month.

As NASCAR plans for the 2022 cost-cutting introduction of the “NextGen” new car, the demand for charters has soared. At least three have been sold since August — ownership records of each charter are not updated by NASCAR until the start of a new year —

Read More Read more
model

NASCAR’s upcoming economic model spurs interest in new teams

CHARLOTTE, N.C. (AP) — Justin Marks tried three times to buy the NASCAR equivalent of a franchise license that guarantees a car a spot in each week’s race. Twice he was outbid, he said, and a third deal fell apart.

Without that charter, Marks had almost no chance to get his team on track in 2021. He ultimately had to lease one from another organization to become the second new NASCAR owner to announce a team in the last month.

As NASCAR plans for the 2022 cost-cutting introduction of the “NextGen” new car, the demand for charters has soared. At least three have been sold since August — ownership records of each charter are not updated by NASCAR until the start of a new year — and the bidding process has been frenzied.


“It was much more difficult for us than I anticipated it being,” Marks said this week after

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women

Opinion | Gina M. Raimondo, Mary Kay Henry: Women are bearing the brunt of the economic crisis. They have to lead our recovery plans.

Even before the pandemic exposed deep disparities in our economy and society, the gender wage gap persisted at every level of income and education. In 2019, two-thirds of minimum-wage workers were women. Women carry two-thirds of all student debt in the United States. Black women graduate with significantly more debt than White men and take longer to pay it off, as they earn just 62 cents for every dollar earned by White men. In 2019, nearly a quarter of female-headed households lived in poverty; for households headed by Black or Latina women, the rates were closer to 30 percent.

Only if our recovery is inclusive can we emerge from this crisis stronger.

Inclusivity requires state leadership as well as a comprehensive national strategy to ensure women’s economic security, health and safety. Front-line workers in the pandemic have struggled to keep patients safe amid inadequate staffing and insufficient protective gear such

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Fed’s Kashkari expects continued economic recovery but only in a ‘grinding’ fashion

Minneapolis Fed President Neel Kashkari said he has not been back inside a restaurant for a sit-down meal since March.


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The U.S. economic recovery is likely to proceed but it is going to feel like a car that might need a new transmission, said Minneapolis Fed President Neel Kashkari on Wednesday.

“Unless something dramatic changes or we have a breakthrough sooner than we expect on vaccines, or there is some dramatic change in policy, I think we are in for a grinding recovery from here,” Kashkari said in a talk to a trade group of Wisconsin manufacturers.

To date, the pace of the economic recovery has been faster than expected, but this is a “double-edged sword,” he said.

Part of the reason for the unexpectedly quick bounce back in the last few months from the slump earlier this year, caused by the coronavirus pandemic, is that states allowed

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China needs a raft of reforms to make new economic strategy work: government advisers

BEIJING (Reuters) – China will need a plethora of reforms if it is to make a new economic strategy that relies mainly on domestic consumption work, advisers to the Chinese cabinet said on Tuesday.

FILE PHOTO: People wearing face masks walk on a street in Shanghai, following the coronavirus disease (COVID-19) outbreak, China July 16, 2020. REUTERS/Aly Song/File Photo

President Xi Jinping has proposed a “dual circulation” strategy for the next phase of economic development in which China will rely predominantly on “domestic circulation”, to be supported by “international circulation”.

“To rely mainly on domestic circulation, we indeed face a very arduous task,” Yao Jingyuan, the former chief economist for the country’s National Bureau of Statistics, told a briefing.

“Fundamentally we must rely on reforms, and we need to deepen reforms.”

Lin Yifu, a second adviser to the cabinet, said China’s new economic strategy was not a short-term measure to

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