International Speedway Corp. (ISCA,ISCB.OB) said it has decided to no longer pursue development of a motorsports entertainment facility in Kitsap County, Washington. Due to the increased risk that the collective modifications would have a significant negative impact on the project's financial model, ISC felt it was in its best long-term interest to discontinue the speedway development at this site.As a result of its decision, ISC expects to record a non-cash, pre-tax charge in the second quarter of fiscal 2007 of about $5.5 million to $6.5 million, or $0.07 to $0.08 per share after-tax. The charge reflects the write-off of certain capitalized costs including legal, consulting, capitalized interest and other site-specific costs.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.