6 of 12
BACKNEXT
Robert Prevost - No end in sight
Founder and CEO, RacingSchools.com
Cave Creek, Ariz.

I own a company involved in the motor sports entertainment business that relies heavily on consumer confidence and discretionary income. We've seen our monthly revenues drop almost 80% since July 2007, and I do not forecast any significant improvement until well into 2010. I believe that the main reason for the economic downturn is less a result of the downturn in the housing market then the outrageous increase in energy costs.

Those increases continue to ripple through every facet of the economy, at every socioeconomic level. Our typical customer was a blue-collar worker using his or her credit card to pay for the experience of a lifetime - driving a real NASCAR stockcar. Those days are gone for now. We have had to lay off four of our six employees, and I have not taken any salary from the company for eight months in an attempt to lower our monthly expenses.

NEXT: Linda Seidel - Hitting rock bottom

LAST UPDATE: Oct 04 2008 | 2:03 PM ET
Sponsored by
More Galleries
San Francisco: The best city to make things From electric motorcycles to death shrouds, San Francisco's manufacturing sector is booming. More
6 designers shaking up fashion These designers are changing the way we dress, accessorize and shop, from custom made-to-fit dresses to smart jewelry that's actually stylish. More
8 must-have travel apps Whether you've got wanderlust or an airline grievance, here are some apps to pack onto your phone. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2014 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2014. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2014 and/or its affiliates.