Forum: HoseHeads Sprint Car General Forum (go)
Moderators: dirtonly  /  dmantx  /  hosehead

We hate to see a nice race track sit idle.  I'll bet Brennan is smarter than 99% of us in regards to business, and we can surmise the track is an independent corporation and hopefully for our sake, gets sold for pennies on the dollar at auction after it sits empty for a year or two, or three, etc. so a new promoter can afford to get it back open.  Property values in Brandon are not high.  He may get a large tax right off from the loss on his investment to offset some of his other profits he may realize when liquidating his other SD businesses.

 The payday loan centers in SD were committing legal usury and are cash cows that allowed him to earn and invest such a large amount of cash into the track.    That's a great way to spend his other business's profits, but I am more pleased that people who mostly work for a low wage are better protected against a loan center business model that elected officials should have never allowed to exist in this day and age.  Brennan was following the law with the Dollar payday centers, but saying they provide a important and neccessary service to people in need of quick cash means you turn the other way while taking advantage of uneducated and hopeless people in need.

 I looked up the facts of the typical payday loan center interest rate.  In SD something like 430% apr.  That's where the money came from that remodeled the track.   We were enjoying a beautiful track built on the backs of the lowest minimum wage earners who according to statistics are on average in debt to the payday loan centers for 83% of the year.  It's not just someone elses problem, I bet we all have friends and relatives, young and old that use these payday centers across the Country.   Next thing you know, Cakif will legalize weed.  I hope the track goes to a non predatory business owner.  Interesting conundrum.

Actually the track and the pawn shop ARE in the proximity of each other.  Track is in Brandon and the Pawn shop are in Sioux Falls.  They are roughly 10-12 miles from each other.

The drivers/teams will certainly miss the big bucks he was paying them to race.  As far as the track, don't see it open for many years to come and certainly the voters in SD have a lot of blame---screw them.  The voters should take a class in "short term" interest rates (like a month or less). Most people on here, especially in SD and the rest of the country don't have a clue what percentage rates mean.  I borrow my friend a buck today and he pays me back two bucks in a year that's a 100 percent interest rate, if instead I tell him he has to pay me back two bucks tomorrow, what's that a  36,000% interest rate.  Seems unimportant but thats how clueless the voters were in SD. 

I wonder, my brother-in-law (at one time) would certainly be interested in those two new first class Caterpillar Graders.  I asked two security guards  at Badlands if he leased them and both said Chuck doesn't lease anything, he pays cash.   Have no idea how much but a wild guess for a 250HP grader would be $250,000....times two. 

The voters are to blame?  That's the fanbase he was trying to capture (the voters).  By blaming them he dooms all of his businesses. 

The drivers/teams will certainly miss the big bucks he was paying them to race.  As far as the track, don't see it open for many years to come and certainly the voters in SD have a lot of blame---screw them.  The voters should take a class in "short term" interest rates (like a month or less). Most people on here, especially in SD and the rest of the country don't have a clue what percentage rates mean.  I borrow my friend a buck today and he pays me back two bucks in a year that's a 100 percent interest rate, if instead I tell him he has to pay me back two bucks tomorrow, what's that a  36,000% interest rate.  Seems unimportant but thats how clueless the voters were in SD. 

I wonder, my brother-in-law (at one time) would certainly be interested in those two new first class Caterpillar Graders.  I asked two security guards  at Badlands if he leased them and both said Chuck doesn't lease anything, he pays cash.   Have no idea how much but a wild guess for a 250HP grader would be $250,000....times two. 

They should just burn the place down. If people want to race they should have to drive to Knoxville. 

The drivers/teams will certainly miss the big bucks he was paying them to race.  As far as the track, don't see it open for many years to come and certainly the voters in SD have a lot of blame---screw them.  The voters should take a class in "short term" interest rates (like a month or less). Most people on here, especially in SD and the rest of the country don't have a clue what percentage rates mean.  I borrow my friend a buck today and he pays me back two bucks in a year that's a 100 percent interest rate, if instead I tell him he has to pay me back two bucks tomorrow, what's that a  36,000% interest rate.  Seems unimportant but thats how clueless the voters were in SD. 

I wonder, my brother-in-law (at one time) would certainly be interested in those two new first class Caterpillar Graders.  I asked two security guards  at Badlands if he leased them and both said Chuck doesn't lease anything, he pays cash.   Have no idea how much but a wild guess for a 250HP grader would be $250,000....times two. 

We hate to see a nice race track sit idle.  I'll bet Brennan is smarter than 99% of us in regards to business, and we can surmise the track is an independent corporation and hopefully for our sake, gets sold for pennies on the dollar at auction after it sits empty for a year or two, or three, etc. so a new promoter can afford to get it back open.  Property values in Brandon are not high.  He may get a large tax right off from the loss on his investment to offset some of his other profits he may realize when liquidating his other SD businesses.

 The payday loan centers in SD were committing legal usury and are cash cows that allowed him to earn and invest such a large amount of cash into the track.    That's a great way to spend his other business's profits, but I am more pleased that people who mostly work for a low wage are better protected against a loan center business model that elected officials should have never allowed to exist in this day and age.  Brennan was following the law with the Dollar payday centers, but saying they provide a important and neccessary service to people in need of quick cash means you turn the other way while taking advantage of uneducated and hopeless people in need.

 I looked up the facts of the typical payday loan center interest rate.  In SD something like 430% apr.  That's where the money came from that remodeled the track.   We were enjoying a beautiful track built on the backs of the lowest minimum wage earners who according to statistics are on average in debt to the payday loan centers for 83% of the year.  It's not just someone elses problem, I bet we all have friends and relatives, young and old that use these payday centers across the Country.   Next thing you know, Cakif will legalize weed.  I hope the track goes to a non predatory business owner.  Interesting conundrum.

Does he own the race track outright or does the bank own it?  Reason I ask is that if there's a loan on the place the property could end up under the bank's control. 

As far as the asking price, for most people that would be financial suicide to buy a dirt track for 9.5 million when most turnkey tracks sell for far less than that.  I've heard of people buying dirt tracks and going belly up after not having reinvested in the track for years.  In those cases potential buyers are faced with a ton of work to upgrade the facilities but the asking price is generally doable.  In the case of Badlands all the improvements have escalated the costs way beyond anything the average promoter can afford.

I'd rather have seen someone buy the place, not make any significant improvements and have to unload it than this situation where someone comes in and throws obscene amounts of cash at it and prices the facility out of reach.  Some of the replies in this thread threw around a few NASCAR names and as much as I hate to tell others how they should spend their money I'm afraid that my be the only scenario that could save the place.

I'm half an hour north of Minneapolis St. Paul but anytime something happens in the Sprint Car world within 300 miles we feel the ripple effects up here.  With the NSL it was a great concept but it did pull some cars away from some of our specials.  With Jackson dropping 360's and Husets' future uncertain it isn't clear what that's going to do for Sprint Car racing in the upper Midwest.  There are a million Modifieds around these parts and no problem for a place like Deer Creek to book USMTS and pull a ton of local cars to run with the travelers.  With Sprints it's a different story, specials around here often see drivers town in from Jackson, Husets, Knoxville and even Grand Forks and Winnipeg on occasion.  Whatever happens is sure to upset the apple cart....again...

A little research showed a $300 loan paid off in 1 month you would have paid back $417 at a typical payday loan interest rate and $309 at a 36% interest rate. Easy to see why Chuck didn't want to see the 36% cap to pass!

For all of you that keep saying that Jackson has dropped the 360's remember the schedule that came out in late Sept. or Oct. was a TENTATIVE SCHEDULE and CAN BE CHANGED I'm fairly certain before all this Badland stuff came up there were at least 6 MSTS 360's shows added to the Jackson schedule  I think there is a good possibility more of these shows will be added now  I don't recall anyone from Jackson ever saying that the 360's were dropped they were just not on the TENTATIVE SCHEDULE  this was probably because they were trying to figure out who was going to sanction the shows  right now with everything up in the air the way it is I don't think we will see a for sure schedule on anything until after the first of the year  GM

Does he own the race track outright or does the bank own it?  Reason I ask is that if there's a loan on the place the property could end up under the bank's control. 

As far as the asking price, for most people that would be financial suicide to buy a dirt track for 9.5 million when most turnkey tracks sell for far less than that.  I've heard of people buying dirt tracks and going belly up after not having reinvested in the track for years.  In those cases potential buyers are faced with a ton of work to upgrade the facilities but the asking price is generally doable.  In the case of Badlands all the improvements have escalated the costs way beyond anything the average promoter can afford.

I'd rather have seen someone buy the place, not make any significant improvements and have to unload it than this situation where someone comes in and throws obscene amounts of cash at it and prices the facility out of reach.  Some of the replies in this thread threw around a few NASCAR names and as much as I hate to tell others how they should spend their money I'm afraid that my be the only scenario that could save the place.

I'm half an hour north of Minneapolis St. Paul but anytime something happens in the Sprint Car world within 300 miles we feel the ripple effects up here.  With the NSL it was a great concept but it did pull some cars away from some of our specials.  With Jackson dropping 360's and Husets' future uncertain it isn't clear what that's going to do for Sprint Car racing in the upper Midwest.  There are a million Modifieds around these parts and no problem for a place like Deer Creek to book USMTS and pull a ton of local cars to run with the travelers.  With Sprints it's a different story, specials around here often see drivers town in from Jackson, Husets, Knoxville and even Grand Forks and Winnipeg on occasion.  Whatever happens is sure to upset the apple cart....again...

Contract for Deed with the Ruebens (previous owner/operator). I guess it's feasable that the land itself could end up back in thier possession.

just one comment..for all you keyboard experts who claim this guy is a crook and a fool ..everyone that had money coming to them from his crazy point funds..all got their checks already this week..so i guess we all lost a decent promoter...watch the other so called promoters & tracks now take advantage of the racers.

For all of you that keep saying that Jackson has dropped the 360's remember the schedule that came out in late Sept. or Oct. was a TENTATIVE SCHEDULE and CAN BE CHANGED I'm fairly certain before all this Badland stuff came up there were at least 6 MSTS 360's shows added to the Jackson schedule  I think there is a good possibility more of these shows will be added now  I don't recall anyone from Jackson ever saying that the 360's were dropped they were just not on the TENTATIVE SCHEDULE  this was probably because they were trying to figure out who was going to sanction the shows  right now with everything up in the air the way it is I don't think we will see a for sure schedule on anything until after the first of the year  GM