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No Profit my ***. A friend sent this to me

No big surprise reading this...Ha,Ha!!!
Pat

DRO's annual Christmas gift of the NHRA and NHRA Museum tax returns made their annual appearance at the front of the DRO offices on the top floor of the Phlegm Building. As usual they were wrapped up in pages from the personals section of an issue of the LA Weekly.
Just a quick scan revealed a couple of interesting tidbits. The company grossed over $121 million in 2007, which is up by about $7 million over 2006. The profits for '07 were just over $5.5M, which was actually a drop of about $1.5M from the near $7 million in profit the company had the year before.President Tom Compton got a pay bump to $707,000 for 2007 and NHRA suits that got raises include Peter Clifford, Graham Light, Gary Darcy and Richard Wells. So, in line with what seems to be the status quo in Corporate America, as a company the NHRA made less profit in 2007 than 2006 and the executives that run the business were rewarded with pay raises!
It should be noted that in neither 2006 nor 2007 did the racers get a raise but they are promised to get one (along with the management, the Agent would wager) in 2009. We will be doing an in-depth article on the 2007 tax return later in the month.


ace
 

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Yeah I think it is interesting to that the NHRA has not said anything about GM pulling out of drag racing. I read somewhere that GM went to the NHRA and told them the courtesy and tow vehicles would be pulled immediately and the NHRA said no you want we have a contract until 2010.
 
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