Book Review: Speedy Bill Smith's Fast Company

[Bobby Kimbrough]

We received a copy of Speedway Motor's latest book in the mail last week, and we were delighted to see the subject of the book was none other than the man behind Speedway Motors, Bill Smith. Bill Smith has been a great friend to onedirt.com and we've been privileged to do an interview for our online magazine and a short video with Mr. Smith from the 2008 PRI Tradeshow in Orlando, Florida. Our paths have crossed with Speedy Bill's on a number of occasions, each time as interesting as the time before.



I knew of "Speedy" Bill long before ever meeting him. As a young "gear head" growing up in a grain elevator town in the middle of Illinois, there were no speed shops so everything had to be mail ordered. When the Speedway Motors catalog came in the mail it opened a whole new universe to us local gear heads. The Sears and Roebuck catalog couldn't even compete with the array of automotive parts that you could get from Speedway. We would spend hours looking through the flyers and catalogs, daydreaming of the latest addition we could make to our pride and joy. To us, "Speedy" Bill was a hero. We had nobody in the area that was doing the same kind of things and having the latest Speedway Motors flyer made you a local celebrity.


Speedway Motors New Book "FAST COMPANY" by "Speedy" Bill Smith with Dave Argabright.

Bill Smith has done just about everything that you can do in racing. He's been a racer, a car builder, a car owner, a manufacturer and a speed shop owner. He's had 87 different drivers take the wheel in Speedway Motors cars and turned out more than his share of Hall of Fame Drivers. From Tiny Lund and Jan Oppermann to Doug Wolfgang and Ron Shuman, if they were dirt track racers with a future, they drove Speedway Motors Cars. The "Fast Company" book by Speedy Bill Smith with Dave Argabright captures Smith's six decades "of racers, rascals and Rods".

The Book title "Fast Company" plays on the Fast theme that encompasses Speedy Bill and Speedway Motors, but it could just as easy be a play on words about how quickly the book seems to end. It is truly a quick read. Touching on topics from Bill's childhood and the events that shaped his future, to the success of his company and the honors that he has been awarded, "Fast Company" is not just a book about Bill Smith's life. It's a blueprint on how to operate a company scattered with life lessons that will have an impact on everyone that reads it. Below is an excerpt from the book where "Speedy" Bill talks about business and timing.

Business is complicated, and timing is really important. I guess that's why I've always enjoyed business, because it's never a black-and-white, cut-and-dried formula. It's a complex series of decisions based on a rapidly changing environment, and no matter how smart you are you never get it just right.
If we had introduced a big, husky catalog in the 1950's, we would have gone broke from the printing and distribution costs. The timing wouldn't have been right.
Likewise, if I had ignored the concept of catalog sales when the world began to change, and focused on running our business through a front door and parts counter, Speedway Motors would still be a small enterprise.

Bill working an early trade show with Speedway Motors.

"Speedy" Bill also recounts many of the characters that he has come in contact with over his decades long career. From the earliest customers to future industry leaders, Bill Smith has a story about every person. He describes Speedway Motors involvement in events and organizations that were part of the major changes in racing and hot-rodding. The respect "Speedy" Bill has for these men and groups shines through his words. These excerpts from the book are a few examples of how "Speedy" Bill views these men.

None of these early day organizations - SEMA, PWA, Pro Stock Buying Group - were easy. There was lots of in fighting and arguing and yelling, because you're talking about a lot of strong-minded enrrepreneurs and their firm ideas on how to do things. We'd fight and grouse at each other, but in the end, things got done. Good things, positive things that pay dividends today for people who weren't even born when those early scuffles and arguments took place.

When this group of entrepreneurs started the evolution in the performance industry, they were a truly fascinating cast of characters. To name a few: Joe Hrudka of Mr. Gasket; Els Lohn of Eelco; Louis Senter of Ansen; Robert E. Petersen of Petersen Publishing (Hot Rod Magazine); Dean Moon; Mickey Thompson; Ed Iskendarian; Vic Edelbrock; George Hurst; Aaron Fenton; Phil Weiand; Bruce Crower; Ted Halibrand; Bill Simpson; Ed Cholokian; and Joe Mondelo. These pioneers of our industry will never be duplicated; they threw the molds away on the whole bunch!

"Speedy" Bill still works the trade shows. Here he is in front of the Speedway Motors Banner.
As you read the book, it becomes recognizable through the stories and tales of "Speedy" Bill's travels the he clearly belongs in the list of ground breaking entrepreneurs that he lists throughout his book. Bill Smith has done as much for racing and manufacturing as anyone in the past half century.

The book is also filled with observations that he has made over the years of dealing with racers and customers. As interesting and entertaining as anything I have ever read, "Speedy" Bill's look at people and life are humorous and telling. In one particular segment, "Speedy" talks about Ford guys and Chevy guys. In one of those moments that one can only describe as "poetic justice", I read the segment where "Speedy" Bill describes the differences between the two automotive marquee loyalists with a self assurance that my loyalty was properly placed.

A typical afternoon at Speedway Motors saw all kinds of guys hanging out. It was almost like a pool hall, but instead of shooting pool a guy spent all his time talking about his fast car.
I probably made more money from the Coke machine than I did off parts. Decals, too. I sold lots of cheap decals. Ford guys always loved decals; they didn't buy too many parts. They might put a dual exhaust on the car, but they sure soaked up those decals. They wouldn't buy a camshaft, or rocker arms, ignition, they wouldn't buy anything. Just decals and the Coke machine, that was their draw.
Chevrolet guys were the ones who would change everything on their car. Carburetor, cam, exhaust, distributor, gears, all those things. And of course I tried to make it easier by taking all their used stuff on trade. If a guy went to the Chevrolet store - located a block-and-a-half from my shop - on Saturday morning and bought a brand new '57 Chevrolet with fuel injection, he would drive the short distance to my shop and put on two four-barrel carbs on the car. Because those injectors, nobody knew how to make 'em really run. Remember, fuel injection was a brand new unit at the time, and it was a big mystery. Two four-barrels however, would make that car really haul ass. Guaranteed.

FAST COMPANY recounts many of the memorable Speedway Racers like Sprint Car Hall of Famer Doug Wolfgang.

The story of Speedway Motor is a long one with many accolades along the way, all of which are told in "Speedy" Bill's own words in a candid and frank tone. The path to success also held many tragic events which "Speedy" Bill also recalls in the same honest recollection, and with noticeable pain. The most touching of which are the stories of his Hall of Fame Drivers; Jan Oppermann, Tiny Lund and Doug Wolfgang. It's quite evident that "Speedy" Bill had a bond with his racers, and it's no accident that the best drivers migrated to the Speedway Motors stable. By Bill's own count, he had more than 87 drivers that wheeled his cars. In an age where racing was a very hazardous occupation, "Speedy" Bill was bound to have drivers and former drivers get seriously injured or killed. The excerpt below tells of moment when Bill heard of Tiny Lund's death at Talladega in 1975.

I talked to Tiny on the phone about a week before he was going to run the 1975 Talladege 500. It was the usual conversation, us giving each other a hard time, laughing. I hung up the phone that day with no idea that I'd spoken with my friend for the last time.
A week later, his race car got T-boned by another at Talladega and he was killed. Just like that, a great racer was dead.
I heard of his death over the radio. This was the days before cell phones and instant communication. I happened to turn on the radio and the guy was talking about Tiny getting killed, and there wasn't anything there to soften the blow.
What a sick feeling in my gut. To this day, I feel rotten when I think about it.

One of the early Speedway 4X cars with master mechanic "Speedy" Bill Smith.

There are very few motorsports books written by living legends, and even fewer that are written in such an openly honest and candid manner. "Speedy" Bill and Dave Argabright have captured the life and times of a true hero, and in the process have given us the business plan on running a successful business and race team. This book is a "must have" book, and it belongs on the bookshelf right next to Smokey Yunick's Best Damn Garage in Town.

The book can be purchased through Speedway Motors or Dave Argabright's website.

Sources:

Speedway Motors
340 Victory Lane
Lincoln, NE 68528
1-800-979-0122

Dave Argabright

[C.Wenzel46]

All I use is Speedway Motors parts. Easy to buy, ship and has plenty of options. Great guy with a great buisness.

[DollaDollaBill]

Great read, I am not able to read mine as fast as K9, I keep getting interrupted at work! But so far I am having fun reading it!