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Study: NASCAR drivers, CEOs share similar talents

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NASCAR drivers are known for trading paint, spinning out rivals and are seemingly always ready for a fight.

And those are just some of the same elements that NASCAR drivers share with CEO’s of some of the best middle-market companies, according to a story on AllCapCorp.com.

Citing a study by Statistic Brain that compares what would seem like diametrically opposite fields, AllCapCorp.com noted “accomplished CEOs and NASCAR drivers are often recognized as the top performers in their respective industries, and they possess the courage to make complex decisions when challenges arise.”

Here are the top 6 shared similarities between those driving companies and those driving stock cars:

1. Cultivate the right combination of strategic talent to propel them to victory.

The study cited six-time Sprint Cup champion Jimmie Johnson, team owner Rick Hendrick and crew chief Chad Knaus for their ability to recruit and hire the most talented and successful personnel “to do one thing – WIN.”

2. Possess the perseverance to rise from the ashes.

The example that Statistic Brain cited here is the resurgence of 2004 Cup champ Kurt Busch, who lost his ride with Team Penske after the 2011 season and how he’s rebuilt himself and his career since.

As Statistic Brain noted, “Like many middle-market CEOs, ‘the Outlaw’ wasn’t ready to give up his dreams when the world thought he was finished. Recognizing that his setback was driven by his own limiting behavior, he gave himself a ‘tune-up.’ … When facing such adversity, top CEOs act no differently. They are willing to work hard and develop creative solutions that allow them to overcome the most difficult of challenges.”

3. Learn from their mistakes.

The elder Busch brother was again cited, along with A.J. Allmendinger, who was suspended by NASCAR for failing a drug test in 2012.

Said Statistic Brain, “Savvy CEOs also understand the importance of learning from their mistakes and making adjustments when major setbacks ensue.”

4. Know that sometimes it pays to be friendly with the competition.

It’s better for drivers to be friends than enemies in NASCAR, because you can never have enough friends, particularly at places like Daytona and Talladega, where the nature of restrictor plate racing has led to a “one for all, all for one” mentality for many drivers.

It’s there that you see Ford drivers work with Toyota drivers, Chevy drivers with their Ford counterparts, and so forth.

“The same holds true for top CEOs who make alliances with the competition or seek synergy through middle-market mergers and acquisitions,” Statistic Brain said. “The best CEOs recognize their firm’s key strengths and weaknesses, as well as those of other players in their industry. This insight allows them to maintain integral relationships that drive optimum results and secure long-term success.”

5. It’s a family affair.

Not only is NASCAR still owned and operated by the France family, the sense of family as a whole is one of the most important elements of the sport.

That’s why so many drivers follow in the footsteps of their own racing fathers, with famous surnames such as Earnhardt, Elliott, Jarrett, Petty and more. Likewise, family is a key component of fandom in the sport, with oftentimes three generations of families attending races together at tracks around the country – or watching races together on TV at their own homes.

Said Statistic Brain, “Like NASCAR, many middle-market CEOs treat their businesses like a family, where multiple family members work together to run a company and make decisions about its future.”

6. Know it’s best to go out on top.

NASCAR drivers go through a lot in their careers. But the most difficult time is when they decide to hang up their firesuit for the final time and retire from full-time driving.

The Statistic Brain study cited Mark Martin and a story about him by FoxSports.com in 2013, in which Martin said, “No matter how hard you work at it, eventually Father Time will extract its toll from your skills.”

Added Statistic Brain, “Smart business owners know that the best time to sell is when their business is still going strong, and they can offer valuable insight during a transition to new ownership. They have a solid exit strategy in place, and are ready to pull the trigger and sell a business when the time is right.”

Unfortunately, some drivers remain in the game far too long and by the time they eventually do retire, many of their earlier-career successes and achievements are forgotten and replaced by the difficult struggles those same drivers had getting to their end-game.

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‘McLaren’ documentary to honor a true pioneer of the sport (VIDEO)

Bruce McLaren drives the #11 McLaren BRM M4B during the Daily Mail Race of Champions on 12 March 1967 at the Brands Hatch circuit in Fawkham, Great Britain. (Photo by Getty Images)
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“To do something well is so worthwhile that to die trying to do it better cannot be foolhardy. It would be a waste of life to do nothing with one’s ability, for I feel that life is measured in achievement, not in years alone.”

The above quote came from racing driver and car designer Bruce McLaren, and if a life is measured in accomplishments and impact rather than length, very few have have ever done more than the man originally from New Zealand.

His driving statistics would be enough to stand on their own. He is one of only a few drivers to have won both the Monaco Grand Prix and the 24 Hours of Le Mans before achieving a string of victories in Can-Am during the 1960s.

However, perhaps his lasting legacy is as a designer. The founder of Bruce McLaren Motor Racing, now known as McLaren Racing Limited, he did more than hold his own while piloting his machinery in Formula 1, even winning the 1968 Belgian Grand Prix. But, his team’s stardom skyrocketing after entering Can-Am in the late 1960s. The group won five of their six races in 1967 and four of six races in 1968.

But those results pale in comparison to 1969, when his team won all 11 races in Can-Am with he, countryman Denny Hulme, Chris Amon and Dan Gurney as the drivers. They even finished an astounding 1-2-3 on three occasions that season, cementing McLaren’s status as one of the greatest drivers and designers who ever lived. In the decades since, the McLaren name has become synonymous with excellence, both in its racing cars and road cars.

Bruce McLaren’s life, sadly cut short at the age of 32 following a testing crash at Goodwood Circuit, is the focus of the upcoming documentary ‘McLaren.’ If the trailer is any indication, the film will serve as an epic tribute to a true pioneer, one who left an indelible mark on the entire racing community.

 

Penske, Detroit both announce new partnerships

DETROIT, MI - JUNE 01:  Helio Castroneves of Brazil, driver of the #3 Team Penske Dallara Chevrolet, crosses the finish line to win the Verizon IndyCar Series Chevrolet Indy Dual in Detroit - Dual II race at Belle Isle Park on June 1, 2014 in Detroit, Michigan.  (Photo by Robert Laberge/Getty Images)
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Team Penske and the Chevrolet Detroit Grand Prix, which operates under Penske’s ownership, both revealed new partnerships earlier today.

The Penske team announced a multi-year agreement with 3D printing and additive manufacturing solutions company Stratasys Ltd., which will provide equipment and support to assist the organization’s engineering and manufacturing efforts in both the NASCAR and IndyCar programs.

image001“Our strategic partnership with Stratasys should keep our manufacturing and engineering processes at the front of the pack,” Team Penske President Tim Cindric said of the new partnership. “Stratasys is on the cutting edge of additive manufacturing technology for automotive applications. Utilizing their equipment and technical support will provide us with another means to put our ideas on the race track first.”

For the Chevrolet Detroit Grand Prix, scheduled  for June 2-4, Lear Corporation will join as the presenting sponsor. The supplier of automotive seating and electrical systems maintains an active presence in the Detroit area. Quicken Loans had been the prior presenting sponsor.

800x50031“The Chevrolet Detroit Grand Prix is so proud to welcome Lear Corporation as our presenting sponsor in 2017,” said Bud Denker, chairman of the newly dubbed Chevrolet Detroit Grand Prix presented by Lear. “Lear and Matt Simoncini are great supporters of Detroit and our community. We could not ask for a better partner to team with Chevrolet and help us host world-class racing and a weekend full of fun and excitement in the Motor City.”

The event will continues its status the week following the Indianapolis 500 and remains the only double-header on the schedule.

F1 Paddock Pass: Renault R.S.17 Launch (VIDEO)

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It’s a special edition of the NBC Sports Group original digital series, “Paddock Pass,” kicking off the 2017 Formula 1 season following today’s launch of the new Renault R.S.17 in London.

F1 pit reporter and insider Will Buxton and producer Jason Swales were on site for the launch of the challenger whose base is split between Enstone and Viry-Châtillon, and whose lineup features Nico Hulkenberg and Jolyon Palmer.

Check in above for the first edition of Paddock Pass for the new year.

Stay tuned for more on NBCSports.com from the week of launches and leading into the first test next week at Circuit de Catalunya-Barcelona.

Al Unser to return to the cockpit at the SVRA Brickyard Invitational

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Photo: IMS Museum
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Four-time Indianapolis 500 winner Al Unser will return to the cockpit this summer to compete in the SVRA’s “Indy Legends” Charity Pro-Am, scheduled for June 17 at the Indianapolis Motor Speedway.

“Big Al” will join son Al Unser Jr., which will be their first competitive race together since 1993. It will also be the first time any member of Unser family has raced at the Speedway since 2008, when Al Unser III contested the Indy Lights Freedom 100 for the now defunct Playa Del Racing.

“I guess I got tired of watching the kids have all the fun,” quipped the elder Unser, who previously served as the grand marshal of the 2015 event. He later explained that expressed gratitude toward organizer Tony Parella, president and CEO of the SVRA (Sportscar Vintage Racing Association) for creating the event and extending an invitation to compete. “Seriously, Tony Parella and his SVRA team have created a first-class event and that’s why the entire Unser family has gotten behind it. We believe in what he is doing and I personally enjoy reconnecting with the great fans of the Indianapolis 500.”

Parella’s enthusiasm mirrored Unser’s.”There have been a lot of great legends in the history of auto racing, but in my book Big Al is right at the top of the mountain,” he asserted. “I am honored beyond words. This is such a validation of what all of us at the SVRA have been working so hard to build. To be able to say that this great champion believes in what we are doing enough to strap in and race with us means everything to me personally and professionally.”

The Unsers will join 31 other Indianapolis 500 veterans to compete in vintage Corvettes, Camaros and Mustangs, with model years of 1963 to 1972, in the SVRA’s “Group 6” A and B Production. Each veteran will be paired an amateur driver to split time behind the wheel. Other events slated to highlight the weekend include a Motostalgia car auction, the Hagerty Insurance “shine and show” car corral, vintage motorcycle racing and displays, and hundreds of vintage racers celebrating a century’s worth of auto racing.