GM cutting back on sponsorships

Troubled General Motors has notified two racetracks that run NASCAR events -- New Hampshire Motor Speedway and Bristol Motor Speedway -- that their current contracts will not be renewed as part of an overall $10 billion cost-cutting program. That seems to be just the first step in what could be a huge drop in support by GM, Ford and Chrysler for tracks and teams in NASCAR's top three professional divisions, the NHRA and other racing series in the face of the weakest U.S. auto sales in a decade. Read more here.

-- The Associated Press