The Official Formula 1 2014 Season Thread
10-22-2014, 07:57 PM
Re: The Official Formula 1 2014 Season Thread
you should have smelled Sutil's finger doe.
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10-23-2014, 04:44 AM
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Re: The Official Formula 1 2014 Season Thread
Things are looking quite bleak for Caterham.......
Staff were left locked out of Caterham's factory in Leafield on Thursday as the future of the team looks in serious doubt.
After failing to come to an agreement with administrators on Wednesday, the team's management threatened to quit and accused previous owner Tony Fernandes of not transferring shares to their investors during the sale of the team in July. Fernandes responded on Twitter, saying: "If you buy something you should pay for it. Quite simple."
The situation leaves Caterham in limbo, with team manager Manfredi Ravetto, who has been the public figure head for the new investors running the team, saying he has been told to step back.
"I've been asked by my direct superior entities to step back and this I have to follow," Ravetto told Crash.net. "So I presume that now the owners of Caterham F1 Team - who I understand is still Mr Fernandes - has to make all necessary steps from now on. I don't know how to answer this question. I would have known after last week but the scenario has now drastically changed."
His comments were followed by news on Thursday morning that employees were being turned away from the factory gates by the administrators of Caterham Sports Limited (CSL) - the company that manufactures cars for the entry holder 1Malaysia Racing Team (1MRT).
"They [the staff] can't get into the factory today," Finbarr O'Connell, a joint administrator of CSL, told Reuters. "They [1MRT] are using my facilities and haven't paid me.
"Effectively 1MRT have been in the building for last few days since I arrived. We are trying to reach an acceptable arrangement for them to be there. We had a meeting yesterday with 1MRT and lawyers and the offer they made was unacceptable. So I've sent them away.
"Hopefully they can come up with an acceptable proposal."
With the US Grand Prix just one week away, Caterham's participation is in serious doubt with its usual preparations on hold until an agreement can be reached.
Even F1 CEO Bernie Ecclestone admits the situation is too complicated to make a solid prediction about the team's future.
"We're trying to help in any way we can, which we do with anybody that has run into a bit of difficulty," he toldthe BBC. "All I know is what I've been told. Not too sure it's all true either.
"It is a little bit too complicated to be able to say anything with any real knowledge"
Read more at Caterham factory closed by administrators | Caterham | Formula 1 news, live F1 | ESPN F1
Staff were left locked out of Caterham's factory in Leafield on Thursday as the future of the team looks in serious doubt.
After failing to come to an agreement with administrators on Wednesday, the team's management threatened to quit and accused previous owner Tony Fernandes of not transferring shares to their investors during the sale of the team in July. Fernandes responded on Twitter, saying: "If you buy something you should pay for it. Quite simple."
The situation leaves Caterham in limbo, with team manager Manfredi Ravetto, who has been the public figure head for the new investors running the team, saying he has been told to step back.
"I've been asked by my direct superior entities to step back and this I have to follow," Ravetto told Crash.net. "So I presume that now the owners of Caterham F1 Team - who I understand is still Mr Fernandes - has to make all necessary steps from now on. I don't know how to answer this question. I would have known after last week but the scenario has now drastically changed."
His comments were followed by news on Thursday morning that employees were being turned away from the factory gates by the administrators of Caterham Sports Limited (CSL) - the company that manufactures cars for the entry holder 1Malaysia Racing Team (1MRT).
"They [the staff] can't get into the factory today," Finbarr O'Connell, a joint administrator of CSL, told Reuters. "They [1MRT] are using my facilities and haven't paid me.
"Effectively 1MRT have been in the building for last few days since I arrived. We are trying to reach an acceptable arrangement for them to be there. We had a meeting yesterday with 1MRT and lawyers and the offer they made was unacceptable. So I've sent them away.
"Hopefully they can come up with an acceptable proposal."
With the US Grand Prix just one week away, Caterham's participation is in serious doubt with its usual preparations on hold until an agreement can be reached.
Even F1 CEO Bernie Ecclestone admits the situation is too complicated to make a solid prediction about the team's future.
"We're trying to help in any way we can, which we do with anybody that has run into a bit of difficulty," he toldthe BBC. "All I know is what I've been told. Not too sure it's all true either.
"It is a little bit too complicated to be able to say anything with any real knowledge"
Read more at Caterham factory closed by administrators | Caterham | Formula 1 news, live F1 | ESPN F1
10-23-2014, 04:57 AM
Re: The Official Formula 1 2014 Season Thread
Taken with a grain of salt, but there's still hope.
A doctor treating Michael Schumacher says he has "hope" that the German could recover within three years.
Schumacher suffered severe brain trauma after hitting his head on a rock when he fell while skiing at the French resort of Meribel in late December.
Having undergone emergency surgery, he was placed in medically induced coma and spent months in hospital before waking and returning home to Switzerland in September.
One of the German's doctors, Jean-Francois Payen, recently visited him and declared that in time Schumacher could make a recovery.
Associated Press quotes Payen as having said: "Life after a head injury is punctuated by stages."
He estimated that it could take the seven-time World Champion one to three years to recover.
He added: "We hope, but we have to give him time."
Schumacher suffered severe brain trauma after hitting his head on a rock when he fell while skiing at the French resort of Meribel in late December.
Having undergone emergency surgery, he was placed in medically induced coma and spent months in hospital before waking and returning home to Switzerland in September.
One of the German's doctors, Jean-Francois Payen, recently visited him and declared that in time Schumacher could make a recovery.
Associated Press quotes Payen as having said: "Life after a head injury is punctuated by stages."
He estimated that it could take the seven-time World Champion one to three years to recover.
He added: "We hope, but we have to give him time."
10-23-2014, 06:31 AM
Re: The Official Formula 1 2014 Season Thread
Me thinks Fernandez got tired of losing his own money to fund the team.
10-23-2014, 07:25 AM
Re: The Official Formula 1 2014 Season Thread
From Joe Saward::::::::::::::::::::::::::::
The staff of Caterham F1 were locked out of the team factory on Thursday – and that means just one thing: the administrator needs to take a crash course in Formula 1 rules, regulations and contracts or else he will destroy what value there is left in the troubled F1 team.
The role of an administrator is to run an insolvent business on behalf of the creditors, while future options are being sought. Stopping the staff from working on the F1 cars, and in effect stopping the cars going to the next race, is not the treatment that is required. It is equivalent to being a doctor and strangling your patient. There are probably questions about who legally owns the cars but these are ultimately irrelevant if the team does not keep trying to win World Championship points in the final three races. The team is unlikely to succeed, but if it’s not at the races, it is 100 percent certain to fail and that will guarantee 11th place for the second year running and a dropping revenues of cataclysmic proportions, by which I mean in the region of $90 million. One hopes that someone has told him this already.
One can only assume that the administrator has not had the time or the opportunity to read and understand all the different agreements related to the team (basically the equivalent of the Concorde Agreement) because if he thinks that quibbling over the rent at Leafield and not looking at the big picture of what happens if the team misses Austin, then there’s not much hope and the creditors are probably not going to get much.
Time is running out. The cars need to go to Brazil by any means possible.
Thus far, it seems all the administrator has managed to achieve is to drive away the people who were trying to save the business, and put the whole thing back in the hands of the people who don’t want it…
The role of an administrator is to run an insolvent business on behalf of the creditors, while future options are being sought. Stopping the staff from working on the F1 cars, and in effect stopping the cars going to the next race, is not the treatment that is required. It is equivalent to being a doctor and strangling your patient. There are probably questions about who legally owns the cars but these are ultimately irrelevant if the team does not keep trying to win World Championship points in the final three races. The team is unlikely to succeed, but if it’s not at the races, it is 100 percent certain to fail and that will guarantee 11th place for the second year running and a dropping revenues of cataclysmic proportions, by which I mean in the region of $90 million. One hopes that someone has told him this already.
One can only assume that the administrator has not had the time or the opportunity to read and understand all the different agreements related to the team (basically the equivalent of the Concorde Agreement) because if he thinks that quibbling over the rent at Leafield and not looking at the big picture of what happens if the team misses Austin, then there’s not much hope and the creditors are probably not going to get much.
Time is running out. The cars need to go to Brazil by any means possible.
Thus far, it seems all the administrator has managed to achieve is to drive away the people who were trying to save the business, and put the whole thing back in the hands of the people who don’t want it…
10-23-2014, 08:30 AM
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10-23-2014, 09:11 AM
10-23-2014, 09:13 AM
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Re: The Official Formula 1 2014 Season Thread
Fernandes doesn't seem to be cooperating and he tweeted "If you effin buy something you show me the effin money"
10-23-2014, 09:22 AM
Re: The Official Formula 1 2014 Season Thread
Tony says...
In June 2014, I decided, together with my co-shareholders, to sell my stake in the Caterham F1 team,” he said. “We agreed in good faith to sell the shares to a Swiss company named Engavest on the basis that Engavest undertook to pay all of the existing and future creditors, including the staff. The continued payment of staff and creditors was so important to me that I ensured that the shares would not be transferred to the new buyers unless they complied with this condition. Sadly, Engavest has failed to comply with any of the conditions in the agreement and Caterham Sports Ltd (the UK operating company of the F1 team) has had to be put into administration by the bank, with large sums owing to numerous creditors. Our agreement with Engavest was very clear: there was no legal obligation to transfer the shares to them unless certain conditions – which included paying creditors – were met. Those conditions have not been met. Our lawyers have asked Engavest several times to comply with these conditions but they have failed to engage. If you agree to buy a business, you must pay its bills. They have breached that promise and now, sadly, it is others such as the employees and the fans of the Caterham F1 team that will suffer if the team ceases to race. I sincerely hope that this will not be the case and that a solution can be found.”
10-23-2014, 10:22 AM
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10-23-2014, 10:25 AM
Re: The Official Formula 1 2014 Season Thread
JS made a good point. If he's still the owner, then maybe he should keep them working if he cares so much about their well being. It's not like he hasn't already lost lose his ***.
If he still controls the shares and the new buyers have flaked, man up BOSS.
10-23-2014, 11:15 AM
Re: The Official Formula 1 2014 Season Thread
Felipe, Sergio and myself are confirmed to talk at the Fan Forum next Wednesday.
Problem is it's on the Wednesday, and I now have a conflict. Guess I'll be missing the Fan Forum.
Problem is it's on the Wednesday, and I now have a conflict. Guess I'll be missing the Fan Forum.
10-23-2014, 06:58 PM
Re: The Official Formula 1 2014 Season Thread
10-24-2014, 05:48 AM
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Re: The Official Formula 1 2014 Season Thread
Calc. III and Linear Alg. is easy, Diff Eq was ok until the section dealing with Harmonics equations. 
Vector Mechanics is easy just a lot of practice problems, may wan the solution manual just to keep up with the work.
Physics 1 thru 4 easy just keep a decent calculator with equation solver apps on it.
IF you do Mechanics of Materials can be fun if you get to snap samples for mechanical properties.
After those lower level class then the rest is just fun and easier, until you take the FE exam.
Vector Mechanics is easy just a lot of practice problems, may wan the solution manual just to keep up with the work.
Physics 1 thru 4 easy just keep a decent calculator with equation solver apps on it.
IF you do Mechanics of Materials can be fun if you get to snap samples for mechanical properties.
After those lower level class then the rest is just fun and easier, until you take the FE exam.
10-24-2014, 06:10 AM
Re: The Official Formula 1 2014 Season Thread
Calc. III and Linear Alg. is easy, Diff Eq was ok until the section dealing with Harmonics equations.
Vector Mechanics is easy just a lot of practice problems, may wan the solution manual just to keep up with the work.
Physics 1 thru 4 easy just keep a decent calculator with equation solver apps on it.
IF you do Mechanics of Materials can be fun if you get to snap samples for mechanical properties.
After those lower level class then the rest is just fun and easier, until you take the FE exam.
Vector Mechanics is easy just a lot of practice problems, may wan the solution manual just to keep up with the work.
Physics 1 thru 4 easy just keep a decent calculator with equation solver apps on it.
IF you do Mechanics of Materials can be fun if you get to snap samples for mechanical properties.
After those lower level class then the rest is just fun and easier, until you take the FE exam.