01-23-2009, 09:53 PM
01-23-2009, 10:22 PM
Walkinshaw 101
In later press release Skaife has swapped his investment in HRT for the outstanding debts created by Walkinshaw, when Holden gave him the engineering business. A sad end to a great career
This is not the first time this business ethic (or lack of it) has been applied ........
In later press release Skaife has swapped his investment in HRT for the outstanding debts created by Walkinshaw, when Holden gave him the engineering business. A sad end to a great career
This is not the first time this business ethic (or lack of it) has been applied ........
01-24-2009, 12:39 AM
More on Walkinshaw in my interview with Jackie Oliver, coming soon.
01-24-2009, 12:54 AM
leonbray Wrote:In later press release Skaife has swapped his investment in HRT for the outstanding debts created by Walkinshaw, when Holden gave him the engineering business. A sad end to a great career
Yes he managed to clear his outstanding debts by giving up control of HRT.
I would not be surprised to see him resurface at some stage in the near future as a driver
01-24-2009, 01:05 AM
you've got to love TW's ethics to get back control of the HRT business he lost when he went "bust" with Arrows - up the price, change the billing structure so your cashflow is screwed and then deliver a bill that can't be paid, because he didn't make his sponsorship payments
He deserves Max's job
He deserves Max's job
01-24-2009, 02:01 AM
leonbray Wrote:you've got to love TW's ethics to get back control of the HRT business he lost when he went "bust" with Arrows - up the price, change the billing structure so your cashflow is screwed and then deliver a bill that can't be paid, because he didn't make his sponsorship payments
He deserves Max's job
Very questionable business ethics but then I suppose either from naivety or poor structuring of his contractual arrangements in the first place Skaife let him get away with it.
It is going to be interesting to see how V8s go in the current economic environment in terms of sponsorship etc - our economy has not been as badly effected up till now by the events overseas (in fact our banking sector has so far continued to produce very healthy profits).
The drop in economic activity overseas is however starting to impact on our exports and feeding uncertainty etc in our economy and we are starting to see businesses shedding staff and "battening down the hatches'" --- the prevailing business sentiment is now negative and this will no doubt impact on sponsorships etc.