Posts of the Week: 2/10 - 2/17

[I'm doing something different this week. No football, not the 足球 sort, on Sunday means too much time on my hands. In the narrative that follows I'm embedding links to the "Posts of the Week," and placing the list of the posts of the week at the end of the post. A "Post of the Week" can be identified by the "*#" following the embedded link, with the # matching the same number at the end of the post where the Posts of the Week will be listed by number.]

"Boogity, boogity, boogity! Let's go racing, boys!" Thusly D.W. waves the green flag on another running of "The Great American Race," the Daytona 500. If you want to succeed in America*1, you must watch the Daytona 500, and learn some of the values we hold dear*2.

The Robin Hood history is well-documented: NASCAR was founded by moonshiners, and the early drivers were products of bootlegging, outrunning the cops in the Appalachia in the fastest vehicles on offer from Detroit (see Tom Wolfe's article on Junior Johnson, "The Last American Hero"). The Horatio Alger story of the rise of the hard working young man flaunting the law for the sake of bucks and booze in high tech machine jives well not only with America's unashamed infatuation with the outlaw, but also with what Henry Adams characterized as our international reputation for hard work, whiskey drinking, and engineering.

This the year the event was kicked off with a concert by an Elvis impersonator, followed by an invocation for the faithful*3 by Pastor Bobby Welch, essentially our ideals wrapper up in a shiny package. Next, country music star Trisha Yearwood sang the Star-Spangled Banner. During this routine rendition at athletic events we usually see the athletes standing on the field with hat or hand over their heart trying to sing along. Not at the Daytona 500! The drivers stand with their wives by their side, and their children in front or in their arms, beaming proudly up at Ms. Yearwood. Yes, all cultures love their families, but politicians and pundits have told us for about twenty years now that "Family Values" are really really important to us, so we're compelled to show each other and the world how important our family values truly are. Mixed with shots of the drivers during the anthem we're treated to the obligatory shots of soldiers and old people because we're supposed to care about them too. And, the routine flyby of F-16s and fireworks symbolizing our military might closes out the singing. Then, the real show begins.

NASCAR racing is different because success depends more on the other drivers and your relationship with them than any other form of racing, something D.W. calls "Co-opetition," a hybrid of "cooperation" and "competition." Presumably, the cars are all equal, and winning depends on drafting ability. Drafting is important in all forms of racing, but the sturdiness of a NASCAR allows a form of drafting that would destroy, for example, a Formula 1 car, "bump drafting." Bump drafting sounds like what it is, while drafting you bump the back of the car in front of you pushing them faster helping you both pass another racer. If two racers are not on the same team, or they're not too fond of each other, then they're not necessarily going to help each other out when they can both benefit. It's no mystery*4, there is no lesson whatsoever for the business world to derive from bump drafting metaphors… Though we could make comparisons to pioneers on the frontier helping each other erecting a barn; that should avoid any subtle socialist comparisons.

In the face of World Rally and F1, NASCAR takes a hit from racing enthusiasts for lacking skill. What NASCAR drivers may or may not lack in skill, they more than make up for in audacity, bravado, courage, daring, enterprise, fearlessness, guts, hubris, intrepidity, mettle, moxie, and nerves. Driving a car near 200 mph for 500 miles is daunting enough, but driving 200 mph inches away from your competitors bumping off each other for 500 miles takes a different breed of person. These guys deserve the recognition they get.

There's a lot on offer as far as choice of driver goes. You can root for the NASCAR poster boy, Jeff Gordon, or the image of wild hard partying son of "The Intimidator," Dale Earnhardt, Jr., or the git 'er doneness of Michael Waltrip. Personally, I'm all about the current champ, a sponsor's dream come true, the generous native San Diegoan, Jimmie Johnson. And, if you can't find a driver to root for, well, you can always root for your favorite Fortune 500 corporate sponsor, for NASCAR attracts more Fortune 500 sponsors than any other sporting event. Makes sense when there are 75 million fans, 17 of the top 20 most attended US sporting events are NASCAR races, and the fans purchase over $3 billion of licensed products per year. Toyota recently got the picture and built some NASCARs, is Chery next?*5


I've checked my sources*6, and I'm pretty sure I haven't forgotten anything this week*7…

Posts of the Week

1. Top Ten Reasons For China Business Failure -- List After List at China Law Blog
2. Low-Budget, High-Yield Legal Aid in Xi'an at China Business Law Blog
3. A Reason to Have Faith in China's Legal System at Transnational Law Blog
4. China's mystery value does NOT enhance its creditworthiness at China financial markets
5. The 2008 Detroit Auto Show: Chinese Carmakers Eye the US Market at Managing the Dragon
6. LinkedIn Answers China question at Asia Business Media (h/t CLB)
7. Donald Clarke's Posts at Conglomerate at, um, Conglomerate

EDIT: Apologies to Mr. Clarke for calling you David. Thank you to Dan Harris of China Law Blog for the correction.