f1
Latest News:

2015 Australian Grand Prix Countdown

Days
Hours
Minutes
Seconds
 

Honda Team Wants State Bailout
Gunk (IP Logged)
29 January, 2009 05:18
Honda has been talking to Lord Mandleson about a handout from his auto industry bailout fund.

Should taxpayers fork out for Nick Fry's salary? Hmmmmmm.

From today's Guardian

Quote:
Lord Mandelson's £2.3bn bail-out of the car industry – ostensibly aimed at shoring up jobs in towns such as Swindon and Luton – could end up being deployed in the pit lanes of Monte Carlo after Honda's formula one team confirmed it was in talks to avail itself of taxpayer-funded loans.
Yesterday Honda Racing ­confirmed it had been in talks with Lord Mandelson's Department for Business, Enterprise and Regulatory Reform.

"We have had meetings with BERR over the future of the team on several occasions over the past month," said a statement. Asked whether the team would qualify for the support package, a spokeswoman for BERR said: "There is no reason why Honda Racing couldn't apply.

 
Re: Honda Team Wants State Bailout
F1R (IP Logged)
29 January, 2009 14:31
Why not if it saves 500 skilled workers from the dole office...

F1Royal



http://i1083.photobucket.com/albums/j396/f1royal/rubens-fw33.gif

British Grand Prix: 01, 02, 03, 05, 06, 07, 09, 10
Italian Grand Prix: 09


[www.design-tank.co.uk]

 
Re: Honda Team Wants State Bailout
gabal (IP Logged)
29 January, 2009 17:03
What are the terms on that bail-out money? Do they have to get approval how do they spend it? Because I can see that it isn't going to get very popular to save a f1 team with goverment funding...



http://img80.imageshack.us/img80/430/williamsno.jpghttp://www.soccer.com/images/catalog/productimages/images01/193662.RE23.GIF

You are too late, we are EVERYWHERE!

 
Re: Honda Team Wants State Bailout
F1R (IP Logged)
29 January, 2009 17:09
It will be very unpopular indeed in some 'red top' quarters but that doesn't mean it shouldn't be given a great deal of consideration.

F1Royal



http://i1083.photobucket.com/albums/j396/f1royal/rubens-fw33.gif

British Grand Prix: 01, 02, 03, 05, 06, 07, 09, 10
Italian Grand Prix: 09


[www.design-tank.co.uk]

 
Re: Honda Team Wants State Bailout
Gunk (IP Logged)
29 January, 2009 20:19
Quote:
gabal
What are the terms on that bail-out money? Do they have to get approval how do they spend it? Because I can see that it isn't going to get very popular to save a f1 team with goverment funding...

Needless to say, the Guv don't do much detail. It is capped at about 200m per firm. The phrase, 'to encourage green technologies' was bandied around. Along with easing credit to help new car buyers. (Read finance companies.)

Agree with F1R that the UK does have a core of high-tech engineering skills that's worth investment and protection. Bailing Honda would be at the expense of a wider plan.


Sorry, only registered users may post in this forum.
We record all IP addresses on the Sportnetwork message boards which may be required by the authorities in case of defamatory or abusive comment. We seek to monitor the Message Boards at regular intervals. We do not associate Sportnetwork with any of the comments and do not take responsibility for any statements or opinions expressed on the Message Boards. If you have any cause for concern over any material posted here please let us know as soon as possible by e-mailing abuse@sportnetwork.net
 

Who is online?

Total users online:  

Most users online:  

Users on this site:  

Where are they?