Bank of America 500 name changes (to something really long)
The October NASCAR race at Lowe's Motor Speedway is getting a new name from its sponsor Bank of America. WFAE's Simone Orendain reports: It's no longer the Bank of America 500 it's now - get ready for this - the NASCAR Banking 500 only from Bank of America. Several corporations that received federal bailout money are dropping their names from sponsorships. But Bank of America spokesman Joe Goode says this has nothing to do with that. He says that the re-branding plan started more than a year ago. "This name change is a strategic marketing decision to bring greater visibility and greater awareness among fans to our popular line of banking products," he says. Goode says the products include checking accounts and credit cards with the NASCAR logo and drivers' images. Goode points out that having the bank's name in the brand speaks for itself.