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@andrewtanner what the other guys say about Saward is right, he did have a hard-on for Tonio (they go back a ways, apparently), but the latest round of reports about Mallya is all coming from the financial press, who have probably been tipped off by one of his debtors
It is very easy to become a billionaire using loans. You just have to hide your loanees from one another. For eg. Liverpool Football Club was purchased for a few hundred million pounds by a couple of Americans. They finance the deal using debt and a deposit of 10%, and the remainder of the debt secured against the actual club. It turns out that the 10% deposit itself was also a loan – albeit one with a much higher interest rate. This is how leveraged buyouts work.
They finance their personal lifestyle by paying themselves large salaries and expenses out of the companies they buy or setup. It works until the economy slows down and the growth in revenue can no longer match interest payments on the pyramid of loans. This is why guys like Mallya and the old owners of Liverpool FC go down with the slightest downward move in the economy – they are so leveraged that even a 25 bp spike in interest rates, or lower revenue growth (lower *growth*, not lower revenue) can see them wiped out.
It is easy to buy up assets using other peoples money and some showmanship (banks lend money to people who convince them to lend it). It is much harder to build a sustainable and profitable business.
because if a race is red flagged because of rain or a storm, you need to allow in the regulations for them to change tyres so that no car goes back out on slicks after a downpour.
the regulations could be changed to say ‘if the red flag is because of an accident no work can be done on the cars or tyres changed’ but it would result in a very dangerous situation where you have cars going out again on old, used and cold tyres which would be like driving on ice
> I didnt notice the commentary. Its seamless to me. Must only be you. The commentary is great
I will find the transcript when I get a moment. When Red Bull made their first pit stops it took more than a minute for Brundell to complete and entire sentence or to string 3-4 words together that made sense. He seems to change what he is talking about mid-sentence far too often.
There are also the errors, and then the cliché’s.
If you watch other sports, such as basketball, NASCAR, etc. you will know that good lead commentary is seamless. You don’t notice it – it complements the images being viewed and as a viewer you don’t even have to think about it. Brundle is so awkward that is detracts from the viewing experience – it is like running nails down a chalkboard.
most underpaid: vettel or heidfeld (though this is understandable), di resta
most overpaid: massa, trulli
I assume Kubica is still getting paid well while he recovers
related (and interesting), world first ‘printed’ building:
http://www.blueprintmagazine.co.uk/index.php/architecture/the-worlds-first-printed-building/
I have had a chance to play with a 3d printer (we printed puzzles and things of that nature – escher-type stuff) and they are fascinating. we aren’t far away from desktop/home 3d printing
Hairs: you’re right, but it isn’t just graphene, it is carbon nanotubes in general and all the new materials. It is an entire new field of materials that has been discovered and developed (well, discovered a long time ago, only more recently developed).
carbon fiber was originally cost prohibitive as well, but with industrial applications the costs to manufacture were reduced very quickly. some of these materials in combination with nanotech promise cheaper and easier manufacturing – ie. straight from a computer to 3d printing. that might be ~10 years away, but in the interim I would like to see some teams experiment with nanotubes on some surfaces – entire new exciting field
I agree that the new formula should be: much lighter cars + ground effect (less dirty air) + turbocharged smaller engines. It could be speeds faster than todays F1 but with overtaking like NASCAR
*raises hand*
and I assume the guy with the nickname ‘australian’ and the aussie flag as an avatar is also from Australia
either that or he really, really like Australia
@Red Andy the point of them owning part of F1 as a unit would be to structure it single share single vote like the English Premier League and other sports. Which means that Ferrari don’t have the sway they have now and can’t do anything about ‘smaller teams’
They don’t need to find billions – they only need to find a few hundred million and some PE leverage (if they want to buy all of it)
This is what F1 was supposed to be, until bernie took control of the areas that make money (I doubt martin would do the same)
@Red Andy – paddocktalk is usually pretty good, they do publish a lot of speculative stuff though that sometimes hits the mark
