Highly doubt its meant as anything racial. More than likely short for "Raccoon" which seem to be everywhere in WI, and many people here do enjoy hunting and trapping them, I personally do not. And the chain, I'm sure, is to pull that wreck out the mud which from the pictures, looks like it spends alot of its time. "Watts/Compton"
Theres parts of Milwaukee I wouldn't even drive through...