It Was Glamorous - It Can't be Recaptured
General
The story with Warner Hodgdon was that he had an accountant that embezzled literally millions of dollars out of his company. At the time, Warner owned or had major interest in several tracks- Bristol, Nashville, Rockingham are the three that I immediately think of. Not to mention he sponsored the Wood Brothersin '82, RahMoc in '83, and co-owned the 11 and 12 cars with Junior Johnson in 1984. As a matter of fact, about the time his City Of Industries and National Engineering companies got sued, he was also looking at being sued by Rockingham for not paying the sponsorship fees he owed in 1984 as title sponsor of the 1984 American 500. Then he owed Junior Johnson money, andcorrect me if I am wrong, but Junior Johnson had to do his own legal shuffling to keep the 11 and 12 teams out of foreclosure.
Let this be a shameless plug if you don't already own it to buy a copy of Forty Years Of Stock Car Racing- Vol. 3, The Modern Era. It goes into some detail about the likes of MC Anderson, JD Stacy, Rod Osterlund, and Warner Hodgdon. Of the four, I feel the worst for MC, because he wanted to do it the right way, but couldn't convince Cale Yarborough to drive full time in 1983 for right at $1 million (unheard of $$$ at the time.) Considering how good that 27 car was at the time (Tim Brewer, Harold Elliott were on that crew) I think it's VERY possible had Cale went for it, Bobby Allison may have never won the 1983 championship.