. . . and F1 hits the lobbying trail again.
Always a source of pride, this country plays a dominant role in the technology that drives motor racing. Messrs Eccelestone and Mosley, who also drive the sport, are local products as well. And they've always known the path to the door of British politicians: so the words "Lord Mandelson met representatives of the industry on Friday" bring a wry smile.
Yes, Peter Mandelson, is "under pressure to protect the thousands of engineering, hospitality and logistics jobs that provide the support network for formula one after the collapse of the Honda motor racing team."
Let's see now: we bail out Formula One, to save jobs in, err,
- Australia
- Malaysia
- Bahrain
- Spain
- Turkey
- Monaco
- Canada
- France
- ... you get the picture
No, I think we can safely say this is one for the UN. Or the IMF. Or the World Bank. There couldn't be anything Max Mosley could suggest to Lord M in order to obtain special treatment. Could there ? Lord Mandelson ... ?
ND
13 comments:
Hmm. The races are certainly in other countries, but the cars are all designed & built here... basically on the back of our excellent aerospace engineering capabilities. That said, tough love is required, methinks. There's too much scrounging off the taxpayer as it is.
Is your question
"What could Bernie Ecclestone possibly give to the Labour party that they could find it in their hearts to give taxpayers money to the sport? Maybe bolting it onto the Olympics and qualifying for a special training allowance of 200 million?"
Ohh I know..{hand up, waving} I know..ask me..!
Certainly would be a blow if Honda and other teams pulled out.
From prior thread.
CU said - Anon - I think we are a way from that; and yet closer than ever before nonetheless.
Thursday Dec 4th China's Central Bank chief made an "unscheduled" trip to America, while Paulson was in China himself.
China, and probably South Korea and a few others are no longer buying foney and fraudi paper, reversing a long policy, - the latest $800 billion specifically had $200 billion to backstop foney and fraudi losses on the taxpayers back
Rumours are now strong that China and maybe a few others intend a 30% devaluation against a very high (managed) dollar.
In a previous post I linked to quantitative easing in the US, and in another post to planned quantitative easing in the UK.
If the above, (China,et al) is correct, it becomes a race to the bottom.
KABOOM!
Every fiat has a mathematical lifespan.
EVERY fiat system has historically failed.
The World MUST throw out "DEBT" based money, nations must themselves undertake the issue of their own currency - not delegate the responsibility to a private, "for-profit" banking cartel, and legislate globally on gearing , and cease the "carry trade" from cheap managed currencies carrying low interest costs, (mercantilism that exports unemployment), concomitant with a "fix" for global wage arbitrage.
Easier said than done!
In the interim, the yellow stuff............
"There couldn't be anything Max Mosley could suggest to Lord M.." earns the response "Certainly would be a blow...": heavens, what's become of Standards hereabouts?
Posts are usually spot on, but this one seems a rather too under-informed: Formula One is almost entirely British. I think only 3 team factories are based outside the UK - the others are all based here (including, for example, Renault which is based not in France but in Oxfordshire) - and all of the teams are supplied by British subcontractors. For example, UMECO, the aerospace company, provides composite components worth tens of millions of pounds per year to the F1 industry.
I don't think there's any doubt what will happen; Mandelson will shove many millions of our money into F1, and the bankrupt Labour party will benefit as a result.
A couple of million will do as donations from Bernie and Max, then a grant to save jobs of..say...100 million to the F1 industry? Something like that as it is becoming the norm and what has saved Labour from bankruptcy.
Remember the 12 million modernisation grant, paid by the taxpayers, to the unions at the same time as the unions donated ten million to Labour? There wasn't a hullaballoo then, and won#'t be, probably, now and they will try their luck, especially that shyster mandelson who will probably benefit in some way personally.
all in your mind, dearieme: I was just thinking there might be some form of corporal, err, corporate entertainment that Lord M would enjoy
sammy - check the first sentence ? (It's a source of wonderment as well as pride !)
There is no chance at all that Labour will bung money at F1 to save what, at most, might amount to a few hundred jobs.
F1 is unlikely to go out of business, merely downsize through the bad times. And about time too.
Young Lewis Hamilton might not turn out to be the richest sportsman on the planet, after all. My heart bleeeds for him.
I believe there are about 45,000 jobs in this country that depend on formula 1 when you include all the subcons & specialist engineering businesses.
There is no chance at all that Labour will bung money at F1 to save what, at most, might amount to a few hundred jobs.
You mean like the 125million quid they chucked at BMW directly, who then took the money and scarpered anyway?
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