I like where you are going with this however the "R" in Rack is is supposed to be capitalized. Regarding the Jr within the circle...I feel it represents the american abbreviation for "Junior". I don't want to connect my product with the word Junior.
Keep trying though...I like what you are trying to do.
I like the colors and the font...however my logo needs to fit a thin, long space. Your logo designs have too much height. Perhaps you could cut out the logo on top and put it at the end of JackRack instead of on top?