The Buzz: Dec. 21, 2001

December 21, 2001
1:03 PM EST (1803 GMT)

Kevin Cram, the young crew chief who started the 2001 season with Jason Leffler, found a new opportunity when Ray Evernham became a partner with Jimmy Smith in Ultra Motorsports’ Winston Cup team.

Casey Atwood

Cram has begun work as the crew chief of the No. 7 Ultra team that is in the process of switching from Fords to Dodges, for sophomore driver Casey Atwood.

A spokesperson for Evernham’s team said a sponsor is still being sought for the No. 7, but that Evernham had made a commitment to Atwood when he transferred him from the No. 19 to the No. 7 that the team would run a full schedule in 2002.

FEATHERLITE SHUFFLING

The economic downturn is not only affecting NASCAR teams, but related industries are also facing the financial crunch.

Featherlite, Inc., the Iowa-based manufacturing company that is the “Official Trailer” and “Official Luxury Coach” of NASCAR, is facing a $4 million bill to refinance a mortgage loan by March 30, according to an Associated Press report. The company recently hired an investment banking firm to make recommendations -- which may include mergers, sales, joint ventures, new investment and restructuring.

Featherlite lost $4 million for the first nine months of this year, company officials said in a report filed with the Securities and Exchange Commission. Sales for the first three quarters of 2001 were down 6.8 percent from a year ago.

Featherlite spokesman John Hall said the company, which employs 850, has no plans to close its doors.

Featherlite announced extensions of its official status agreements and touring division sponsorships with NASCAR in September, carrying them through 2006. Hall said the relationship, which began in 1992, would not be affected by the latest announcements.

"Featherlite's retaining of an investment banking firm to assist us in exploring strategic alternatives will not affect our relationship to NASCAR,” Hall said of the official status relationships, as well as sponsorship of the Featherlite Southwest Series and Featherlite Modified Series. "We look forward to many more years in support of America's fastest growing spectator sport."