It's a serious situation that has all eyes tuned in the motorsports industry.  GM, Ford and Chrysler all at the brink of bankruptcy or collapse, before Congress asking.  The top executives of the top 3 U.S. automakers have been here in the nation's capitol the past few days, getting grilled before members of the 110th Congress of the United States.  They are seeking a $25 billion loan from the 'government of the people for the people' to kickstart their companies and avoid having to file for bankruptcy.  

Coming into the 2008 season, no one could have imagined that, by the end of the year, there would be so many stories developing out of the NASCAR garages. 2008 was a year of change. It was the first year that the NASCAR Sprint Cup series used the new car. It was the first time in many years that a foreign manufacturer won a race at NASCAR's highest level. It was the first time in thirty years that someone won three championships in a row. Regardless of which driver or team you root for, the 2008 was a historic year throughout NASCAR. Needless to say, it is necessary to review the good, the bad, and the ugly.

Going into the NASCAR Sprint Cup Series season finally at Homstead-Miami Speedway, all Jimmie Johnson had to do to clinch the 2008 championship was finish 36th or better.  On Sunday, he did that and so much more. After battling back from a 30th starting position, Johnson rallied back in the Ford 400 to finish in fifteenth place, clinching the 2008 NASCAR Sprint Cup Series championship. Johnson's feat on Sunday night tied Cale Yarborough's record of three consecutive Cup Series championships in a row.

While Johnson was celebrating his third championship in a row, Carl Edwards was celebrating his ninth win this season, capturing the victory in the Ford 400. Edwards' win on Sunday night gave him the most wins this season by any driver in the Sprint Cup Series.

Last year, Carl Edwards locked up the Nationwide Series championship weeks before the season finale at Homstead-Miami, finishing 618 points ahead of David Reutimann. In 2008, the championship battle between Carl Edwards and Clint Bowyer came down to the final laps of the Ford 300. Doing everything he could do to win the championship, including winning the season finale in Homstead, Edwards came 21 points short of winning back to back titles, giving Clint Bowyer the 2008 NASCAR Nationwide Series championship. This would be Edwards' seventh win of the season but, more importantly, it would be Bowyer's first NASCAR national series championship.

When the Ford 200 at Homestead-Miami Speedway began, only three points separated Ron Hornaday Jr. and Johnny Benson in the points standings.  Even though Todd Bodine won the Friday night's battle, Johnny Benson won the war of 2008, capturing the final Craftsman Truck Series Championship. Benson's 2008 championship makes him only the second driver in NASCAR to win both the Truck Series championship and the Busch Grand National (now Nationwide) series championship.

On Sunday, the 2008 NASCAR Sprint Cup Series season winds down at Homestead-Miami Speedway with the Ford 400. All Jimmie Johnson has to do to clinch his third straight Sprint Cup championship is finish 36th or better. If Carl Edwards has anything to say about it, Johnson doesn't have anything locked in yet. For many, the Ford 400 will be a stepping stone to the 2009 season. As the season comes to a close, teams outside of the Chase will likely use the race on Sunday as a testing session, preparing themselves for 2009. If the economy doesn't get any better, it is very possible that the Ford 400 will be the last race for many of the smaller race teams.

NASCAR has banned all testing for the 2009 season in all three divisions to cut costs for teams amid a global recession.  This includes NASCAR Preseason Thunder at Daytona.

This is a breaking story and will be updated when more details become avaliable.

Beginning in 2009, Dale Earnhardt Inc. and Chip Ganassi Racing with Felix Sabates will merge their operations to form Earnhardt-Ganassi Racing with Felix Sabates. The newly formed organization will continue Dale Earnhadt Inc's relationship with Chevy as the primary manufacturer for the team's NASCAR operations. In recent weeks, both organizations were rumored to be in merger negotiations with each other and with Petty Enterprises. There is no immediate word on how the decision to merge will affect Ganassi's teams in the Indy Racing League.

UP TO SPEED

The 2008 ARCA Re/Max Series tour was filled with wild, wacky and spectacular moments.  It saw it's fair share of historic moments, good moments and downright ugly moments.  From Scott Speed's impressive rookie season to Justin Allgaier's late season surge, history was made in the 2008 ARCA season and the races in the season will be debated for some time to come.

Coming into Phoenix, Jimmie Johnson had five goals: capture the pole, lead a lap, lead the most laps, win the race, and leave Phoenix with at least a 160 point lead. When the night was over, Johnson had achieved all but one of those goals, winning the Checker O'Reilly Auto Parts 500 at Phoenix International Raceway. Johnson put his #48 Lowes Chevy in the lead on lap 82 and dominated the race until the checkered flag. Johnson's dominant run was highlighted by leading 217 of the 313 laps. The win in Phoenix gives Johnson a 141point lead over Carl Edwards and secures his third championship in as many years.

The victory on Sunday provided vindication for Johnson and the entire #48 team, that struggled last week at Texas Motor Speedway .