AKRON, Ohio—The All-American Soapbox Derby has fallen on hard times. In November, the organizer of the race, in which kids ride cars they build down a hill, was sued by its hometown bank, FirstMerit Corp. The bank was demanding repayment of two loans totaling $623,000. The derby couldn't pay. That led to a bailout: The city of Akron guaranteed the debt of the nonprofit derby group. And the bank restructured the loan on favorable terms. The uproar caught the eye of Corbin Bernsen, the actor best known for his portrayal of sleazy lawyer Arnie Becker in the 1980s TV series...