Hero to Zero?
Friday, January 14, 2011 at 10:55AM
One month you win the FI Promoters Trophy and the next your Company fires you. That's Mr Chung's "reward" for staging such a great event apparently. Most of us could not work out why he got it, and neither can KAVO, the ones putting up the money. "Investors felt that KAVO Management under Mr. Chung could not guarantee success this year." So who did they appoint in his place, the ex-ambassador to Switzerland. An obvious choice.
I've actually been there. In Adelaide we won the same trophy, for what it is worth now, and after the second year I was "let go." It seems the Board thought I spent too much, but my successor is quoted in the next year's program that when there is a problem you just throw money at it to get it fixed. When you are staging a race to promote a State or Country and it starts at 2 pm on Sunday you do what it takes to make it happen. Not suggesting this is what Mr. Chung did, he barely staggered over the start line. In truth he is the scapegoat for false illusions. If KAVO thinks its going to make money on an F1 race then they need to fire the guy who did the feasibility, and as Chris Pook told me, "If Bernie thinks your making money he will put the price up."
There is a very interesting post about England's anti-bribery laws about to come into effect. It seems it casts a pretty wide net over what is considered bribery, and could include corporate entertainment and tickets. So the British based GP teams are concerned that sponsors are going to think twice about handing over loads of cash in future. Australia brought in a tax on entertainment back in the late eighties, which covered company cars and meals etc., but the employer paid it, not the recipient. Could not upset the union members with their perks. Not sure if that is still in play, I cannot see a Government giving up a tax, but it did increase the cost of taking corporate boxes for example, as you had to pay a tax on it instead of it being a tax deduction. All very topical with the Gribkowsky bribery scandal going on.
A line in the quote from Mercedes about the launch of this year's F1 car struck me as odd. "The Brackley based team said its' new single seater." Haven't see a GP car with more than one seat for quite some time.
It appears all our fears about the 2013 engine sounding awful are ill founded. Alonso says he is sure his engineers can make it "sound sexy." This must be a first, engineers trying to increase the noise coming out of a car.
News on the sportscar front has Honda confirming it will race in the LMP1 class while still producing an LMP2 car. It's goal of an outright win at Le Mans by "I can do it without a wind tunnel" Nick Wirth sounds a bit far fetched, but anything that adds to the fight at the front is welcomed. Aston Martin are working to have one of their new for 2011 cars ready for Sebring and David Richards is satisfied that the ACO rule #19 will ensure they can battle the Peugeots and Audis. I will not hold my breath on that one.
I've actually been there. In Adelaide we won the same trophy, for what it is worth now, and after the second year I was "let go." It seems the Board thought I spent too much, but my successor is quoted in the next year's program that when there is a problem you just throw money at it to get it fixed. When you are staging a race to promote a State or Country and it starts at 2 pm on Sunday you do what it takes to make it happen. Not suggesting this is what Mr. Chung did, he barely staggered over the start line. In truth he is the scapegoat for false illusions. If KAVO thinks its going to make money on an F1 race then they need to fire the guy who did the feasibility, and as Chris Pook told me, "If Bernie thinks your making money he will put the price up."
There is a very interesting post about England's anti-bribery laws about to come into effect. It seems it casts a pretty wide net over what is considered bribery, and could include corporate entertainment and tickets. So the British based GP teams are concerned that sponsors are going to think twice about handing over loads of cash in future. Australia brought in a tax on entertainment back in the late eighties, which covered company cars and meals etc., but the employer paid it, not the recipient. Could not upset the union members with their perks. Not sure if that is still in play, I cannot see a Government giving up a tax, but it did increase the cost of taking corporate boxes for example, as you had to pay a tax on it instead of it being a tax deduction. All very topical with the Gribkowsky bribery scandal going on.
A line in the quote from Mercedes about the launch of this year's F1 car struck me as odd. "The Brackley based team said its' new single seater." Haven't see a GP car with more than one seat for quite some time.
It appears all our fears about the 2013 engine sounding awful are ill founded. Alonso says he is sure his engineers can make it "sound sexy." This must be a first, engineers trying to increase the noise coming out of a car.
News on the sportscar front has Honda confirming it will race in the LMP1 class while still producing an LMP2 car. It's goal of an outright win at Le Mans by "I can do it without a wind tunnel" Nick Wirth sounds a bit far fetched, but anything that adds to the fight at the front is welcomed. Aston Martin are working to have one of their new for 2011 cars ready for Sebring and David Richards is satisfied that the ACO rule #19 will ensure they can battle the Peugeots and Audis. I will not hold my breath on that one.
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