thejudge13

Ferrari in breach of FIA statute 1

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FIA Statute 1 and  a previous breach

Statute 1 of the FIA constitution states that the federation will refrain from “manifesting racial, political or religious discrimination in the course of its activities and from taking any action in this respect”. This does not apply just to the executive, but to all participants of the federation.

The last time that statute was enforced was in 2006 when the promoters of the Turkish GP decided at the last minute to put forward Turkish Cypriot leader Mehmet Ali Talat to award a prize on the podium at the end of the Turkish Grand Prix. Mehmet’s official title was displayed on the TV as “the President of the Turkish Republic of Northern Cyprus”. This breakaway area of the island of Cyprus is not recognised by the International Community and the Cypriote government filed a complaint with the FIA.

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Caterham: Is Gascoyne leaving? NY 2013 – No, maybe.., Lauda unveils Mercedes new ‘concept’ for 2013, DRS zone altered for BIC, Ecclestone gets $400m bill

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Daily News

Indian GP, Race Strategy: For a full track characteristics overview and Indian GP race strategy report, no one does it better than James Allen on his F1 News site (http://connect.jamesallenonf1.com). Includes: form guide, weather forecast, likely tyre perfomance, pit stop strategy, chance of safety car, start performance table and pit stop table plus comment from one of F1’s most experienced specialist observers.

DRS zone strategy: The FIA have made changes to the Buddh International Circuit DRS zones. As well as having the original zone that runs along the maximum distance of the start-finish straight, there is a second DRS zone that runs from Turn 3 to Turn 4 and this has been extended by 80 metres.

It appears the FIA are getting to grips with DRS zone lengths. The tracks where the racing is less exciting is where they have taken gambles on going long on the zone lengths. The extended zones this year have been predominantly after tight hairpins/very slow corners. (Canada, Valencia, Korea, India), so it could be the first zone in Abu Dhabi is also extended. If this is the case then Austin is also likely to have a fairly extensive zone on the long straight.

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Resource Restriction ‘Agreement’ – You’ve got to be joking

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Try and find the RRA?

What is the Resource Restriction Agreement (RRA)? Try Googling it, try searching the mainstream F1 media sites, try Wikipedia, try even asking senior team F1 personnel. There’s plenty of articles to be found where F1 people are for it, against it and mostly there is an agreement that costs should be controlled. Yet there is nothing out there that defines the scope of the RRA.

Formula 1 has in the past been most profligate in the area of spending. Rumours have it that Ferrari in their dominant era were spending $100m a year on tyres that were bullet proof. Honda allegedly spent $1bn during 2008 on the present car and the design of the 2009 car. Ironically following Honda’s last minute withdrawal from the sport at the end of 2008, the car they had designed for 2009 won both WDC and WCC titles under the badge of Brawn GP.

At the other end of the spectrum teams have regularly run out of money and ceased to exist and even more that sell out and change their names due to funding problems. In the last 10 years alone, these teams have gone from the Sport: Jordan, BAR, Renault, Jaguar, Arrows, Minardi, Toyota, Honda, BMW-Sauber, Midland, Super Aguri, Spyker, Brawn and Virgin. So the casualty rate is high, and its mostly to do with a lack of funding.

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Schumacher says he may leave Switzerland, Vijay ducks Indian GP press conference, Hungarian GP in negotiations, Honda no chance for 2014

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Indian GP, Race Strategy: For a full track characteristics overview and Indian GP race strategy report, no one does it better than James Allen on his F1 News site (http://connect.jamesallenonf1.com). Includes: form guide, weather forecast, likely tyre perfomance, pit stop strategy, chance of safety car, start performance table and pit stop table plus comment from one of F1’s most experienced specialist observers.

Press Conference Lists for Indian GP: Friday lineup looks more exciting than Thursday. Kimi the only top driver – and to say he’s concise would be an understatement. Vijay Mallya is conspicuous by his absence as fears over mass Kingfisher staff demonstrations have grown. (Force India: How the tower of cards will collapse)

DATE TIME GUEST
Thursday, October 25 1500 hrs Nico Hulkenberg (Force India)
Narain Karthikeyan (HRT)
Heikki Kovalainen (Caterham)
Kimi Raikkonen (Lotus)
Bruno Senna (Williams)
Jean–Eric Vergne (Toro Rosso)
Friday, October 26 1600 hrs Cyril Abiteboul (Caterham)
Eric Boullier (Lotus)
Stefano Domenicali (Ferrari)
Christian Horner (Red Bull)
Monisha Kaltenborn (Sauber)
Martin Whitmarsh (McLaren)
Saturday, October 27 Post Qualifying * Three fastest Drivers from Qualifying
Sunday, October 28 Post Race * First three finishing Drivers

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New Jersey out, Turkey in?, Schumacher to receive ‘Legend of Sport’ award, and other F1 News and comment

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Great to see contributors coming up with news I’ve not yet found. Thanks to madmax for this one (23:36 18/10/12).  By the way madmax, you gave us this about 7 hours before the mainstream media reported it. Probably something to do with my permanent state of insomnia too.

New Jersey: Unlike most new circuits who run the approval gauntlet with Mr. E, it appears New Jersey have declined to participate in the 2013 calendar. “The race, scheduled for June 16, 2013, will be pushed back a year in order for track organizers to finish the permitting process needed to complete the 3.2-mile road course along the Hudson River in Weehawken and West New York, N.J. Among other things, track officials are waiting approval from Corps of Engineers to take control of property along the Hudson River where grandstands will be erected” (Speed).

11:40 (19/12) Interesting that Mr. E isn’t saying the usual stuff about no money, in fighting or contractual matters being the problem. They just ran out of time to get everything organised” (Reuters). Interesting how in the developing world the legalities of Health and Safety and a whole host of other bureaucratic red tape don’t affect a new venue as much as in Western Society.

The judge13 did suggest in “A shrinking calendar for 2013” (link – published Sept 15) that, “unless some real sweetheart deals are done, and that 2013 will could well have fewer races than 2012”. Ecclestone’s problem is he can’t be seen to letting his grasp slip on the calendar; particularly as he has negotiated with the teams that they will participate in up to 23 races each season. On this basis to keep the momentum it must be highly likely Turkey, a track owned by Ecclestone and co., will make a return to the calendar. This is one of the better Tilke venues and has always provided a race that’s no procession.

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Mallya charges dropped, but problems just beginning, Sir Jack Stewart talks sexy (Ugh), F1 opportunity for Porsche, F1 News and Links…

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Mallya: Boss of stricken Kingfisher Airlines – has bounced cheque charges dropped (business today), and has paid off his arrears on the airport fees – presumably because he has raised some cash from selling a chunk of United Spirits to Diageo  (Mallya forced to sell). Before the champagne (Crystal we think) is cracked this may just be the beginning of Vijay’s problems, because everyone else who is owed money should have realised the way to get paid is to issue legal proceedings. Indian tax authorities who have not received the deducted tax deducted Kingfisher Airlines from their employees are beginning action – it may be some employees are technically liable themselves even thought the Mallya company has taken the money from them. (Economic Times). The Indian courts may find themselves very busy soon particularly if the author of “Is Vijay Mallya India’s worst businessman” is correct. (firstpost.com)

Mercedes: After being heavily criticised by Helmut Marco for recruiting 3 former team technical directors to head up sub-divisions of Mercedes F1 (link), it appears Ross Brawn has decided that he has enough his search for “art directors” and is looking for some “Indians” – less expensive candidates. Here is a link if you are an undergraduate and interested in taking a 1 year placement with the team. (Merc Grad Recruit). To be fair, an amazing opportunity.

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Mallya forced to relinquish Control, Ecclestone U-turn, Tooned Cancelled, Sky F1 reporting gets even worse

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London GP: Ecclestone says the race is off that was never on. London – city or Olympic Park http://www.cityam.com/sport/central-london-grand-prix-says-ecclestone. I love how he then goes to great lengths to explain why it would be cost efficient and a great idea though. Maybe this undying enthusiasm for pointless ideas and lost causes is how Mokpo not Seoul ended up with the Korean GP (South Korea, Ecclestone and The Emporer’s New Clothes)

Tooned: is cancelled due to Lewis leaving the team – so for the rest of this year at least. Would love to see it return with Jenson and Perez next year. Perez character could be based on being a relative of my childhood favourite cartoon, Speedy Gonzales, a very very fast mexican mouse. For those of you who’ve never had the pleasure…(YouTube). If you enjoyed that and want a free box set worth of them…(YouTube). More importantly Tooned is a way of attracting kids interest in F1 and was a good idea. I think they should just do a best mates breakup story about Lewis and Jenson anyway. My best mate aged 22 didn’t speak to me for a year – its life.

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Force India: How the tower of cards could collapse

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Over the past few days I’ve been asked many times and seen people enquiring on various F1 websites as to how much is an F1 team worth. Of course the answer is simple, different teams are worth vastly different amounts. An F1 team is a business venture – registered with a legal identity independent of any rich owner and subject to the business regulations from the statutory authority where they are registered.

 Valuing a business

The way business ventures are valued is highly complex and sector/performance specific. There was old 3 times profit rule that was a fundamental when I studied Finance many years ago. Yet even this most simplistic valuation methodology is fraught with danger when you dig deeper. Is that profit before or after asset depreciation, asset goodwill, taxation, one off accounting entries of substance – I could go on..and on..and on…

I guess my favourite methodology which can be proved beyond doubt and its an old adage, which says “The value of something is best measured by how much someone is actually prepared to.”

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Arrest warrant for Mallya, McLaren secret new DDRS, BBC evicts thejudge13, and more coming soon

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F1 News, Fun links and comment

  1. Grim times for Kingfisher and Vijay Mallya. The striking pilots and engineers who have not been paid since March has been asked by the company’s  CEO Sanjay Agarwal to return to work on Sunday 13th October. The airline has been grounded for over a week. The Indian Civil Aviation Authority has threatened to revoke their license and has demanded no tickets are sold in the interim. (Economic Times). Mallya does have other investments and is being pressured to sell the liquor business to come up with the cash. Whether Force India as they are will be on the grid 2013 – only time will tell.
  2. BREAKING NEWS (GMT 12:48) “Force India boss Vijay Mallya has run into more trouble in Hyderabad where the 13th Metropolitan Sessions Court has issued an arrest warrant against him in a case filed by GMR Hyderabad International Airport Ltd which manages the Rajiv Gandhi International Airport”. (AFP News Agency) This warrant is without bail, because representatives failed to attend a hearing today – which means if or when he submits himself to the court he will be detained. It is estimated his airline is $billions in debt. Oh how far it is to fall .(Nice to see we beat the all established F1 sites and writers to this by an hour and 10 mins :D)
  3. Schumacher says the WDC title is Vettel’s to lose (autohebdo) “I thought Fernando (Alonso) had the advantage prior to Suzuka”, but now he believes it is Vettel’s to lose. Schumacher is certain his compatriot will now enter the exclusive club of winning 3 consecutive titles, a feat only achieved by Fangio (4) and Schumacher(5) himself.

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Ecclestone to load a mountain of debt on F1.

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It’s not possible to in a single article convey the mess that is F1 and its financial arrangements, and I’m not feeling inclined to write a book. Yet there are severe storm clouds on the horizon for F1 and it appears the governing body and the teams are oblivious to this.

The Korean Times reports the organisers’ of the F1 race are facing again huge losses. It is claimed they have avoided the contractual 10% escalation in fee from last year but still have a total budget of $67.5m to find.

The national government picks up about $5m and the rest is shouldered by the South Jeolla provincial government. Of course there is the ticket receipts, but the event has not been a raging success with mass crowds attending. The losses the provincial government has had to fund are 2010 $65m and in 2011 $54m. With a contract to 2016, local commentators are not sure they will be able to fulfill this commitment.

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