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Old 5 Dec 2018, 05:03 (Ref:3867981)   #726
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in addition to approval from the circus, will this name change also require the formation of a new holding company, a sale of assets, and/or another transfer of shares?
In short - No.
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Old 5 Dec 2018, 15:46 (Ref:3868071)   #727
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I have a friend who works for Racing Point (Force India) and when speaking to him last week, I asked him what the new management is like. He has had nothing but praise for them.

*He said for the first time in two years he’s been paid on time.
*The Strolls promised that they would get their bonuses as if there was no split in the name and they went back to zero points (so FI and RP points combined to their final standing bonus scheme)
*Instead of having to repair failing machines in their departments they have just gone out and bought new, instead of repairing.
*They have acquired the grounds next door to their current factory and will begin building a new factory next to it.
*He also said that they have spoken about building their own wind tunnel in the new premises so people don’t have to fly to Cologne every week.

So far he is extremely happy and Apprently the whole team Morale has sky rocketed
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Old 5 Dec 2018, 15:49 (Ref:3868072)   #728
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Let’s hope they follow up with what they are doing, because it sounds great how the team is operating
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Old 5 Dec 2018, 17:06 (Ref:3868086)   #729
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Originally Posted by karting View Post
I have a friend who works for Racing Point (Force India) and when speaking to him last week, I asked him what the new management is like. He has had nothing but praise for them.

*He said for the first time in two years he’s been paid on time.
*The Strolls promised that they would get their bonuses as if there was no split in the name and they went back to zero points (so FI and RP points combined to their final standing bonus scheme)
*Instead of having to repair failing machines in their departments they have just gone out and bought new, instead of repairing.
*They have acquired the grounds next door to their current factory and will begin building a new factory next to it.
*He also said that they have spoken about building their own wind tunnel in the new premises so people don’t have to fly to Cologne every week.

So far he is extremely happy and Apprently the whole team Morale has sky rocketed
As much as I have poked fun at the Stroll family in posts above... Kudos to them for having a vision forward vs. just trying to squeeze a few drops out of a worn lemon.

On a related, note, based upon the quote above, it seems life has been rough inside FI. I continue to be amazed that they are able to do as well as they do given the management drama and personal hardship outlined above. I would speculate that part of this is that the team likely feels much like a family so they pull together. But that can only be sustained for so long.

I also wonder what the secret sauce is at FI that has allowed them be as successful as they have been and at the same time not have significant issues with key people being poached by other teams (who would be able to pay them on time, etc.)

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Old 5 Dec 2018, 18:52 (Ref:3868107)   #730
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I also wonder what the secret sauce is at FI that has allowed them be as successful as they have been and at the same time not have significant issues with key people being poached by other teams (who would be able to pay them on time, etc.)

Richard
as you mentioned a sense of family for sure but also, imo, ingenuity borne out necessity and a lack of resources compared to the rest.

it's certainly a model which i would to see applied to the whole field.
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Old 6 Dec 2018, 00:08 (Ref:3868170)   #731
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as you mentioned a sense of family for sure but also, imo, ingenuity borne out necessity and a lack of resources compared to the rest.
Yeah, I guess it is the total focus of the whole organization on racing, there are not any resources to spare with distractions like human resources , empowerment, equal opportunity, decorating the staff canteen, culturally sensitive menus etc. Just a focus on what you do and what and who you need, and personal responsibility for the results or lack of them.
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Old 6 Dec 2018, 14:11 (Ref:3868269)   #732
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late salaries are a staple part of working in motorsport so kudos to the strolls and clan for removing the "but you don't do it for the money, you do it for the passion don't you?" excuse.

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As much as I have poked fun at the Stroll family in posts above... Kudos to them for having a vision forward vs. just trying to squeeze a few drops out of a worn lemon.
all i'll say about that kind of thing is that it happens a decent amount in single seaters. new owner turns up, buys team, invests in team, spends huge amount of money modernising and kitting up team and invests in a purpose built workshop that makes life much much easier for everyone.

investor moves on or withdraws regular payments because son has moved on, team left with huge overheads for new building and overstaffing making it very hard month-to-month as well as invest in development.

new machines are great, but hopefully they've not tried to part the standard resident old school machinist from his 50 year old lathe and that kind of thing

i've just had a thought. i wonder if force india will become prema, are the strolls still involved with them?
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Old 6 Dec 2018, 18:34 (Ref:3868347)   #733
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...investor moves on or withdraws regular payments because son has moved on...
more of a random thought here, but as a function of sensible tax/estate/succession planning i wonder if the son is also a shareholder in the holding company?

Stroll could very well be the first 'owner' in a long time to drive for a team he has (some) ownership in!

would be kind of cool if true.
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Old 6 Dec 2018, 20:42 (Ref:3868376)   #734
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Makes you wonder how many times the Team allow Perez to bang wheels with Stroll during races. He really needs to force and drive his way into No1 status in 2019..If he doesn't..watch him lose his temper on track.
I can really see Stroll fired up in 2019.
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Old 6 Dec 2018, 21:17 (Ref:3868380)   #735
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I hope Stroll is able to express himself more in 2019
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Old 6 Dec 2018, 21:43 (Ref:3868386)   #736
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Makes you wonder how many times the Team allow Perez to bang wheels with Stroll during races. He really needs to force and drive his way into No1 status in 2019..If he doesn't..watch him lose his temper on track.
I can really see Stroll fired up in 2019.
I confess, I'm not a fan per se, but if he can make a good fist of this then fair play to him.
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Old 7 Dec 2018, 03:22 (Ref:3868440)   #737
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I confess, I'm not a fan per se, but if he can make a good fist of this then fair play to him.
That is exactly where I sit on this as well. Not a fan of Stroll particularly, but not a hater... I do have a fondness to Force India or whatever name they use, so if Stroll can match Perez then I might have to change my opinion. I just hope it does not become a team focused on one driver.
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Old 7 Dec 2018, 08:31 (Ref:3868475)   #738
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He's bound to be in a car must better than last season's Williams, so I'm sure he'll be alright
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Old 10 Dec 2018, 14:07 (Ref:3869170)   #739
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It looks like the court has ruled in favour of extraditing Mallya. Still has to go to the Home Secretary though. His extradition now would no longer risk skilled British jobs.
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Old 10 Dec 2018, 20:57 (Ref:3869272)   #740
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It looks like the court has ruled in favour of extraditing Mallya. Still has to go to the Home Secretary though. His extradition now would no longer risk skilled British jobs.
Gratitude, shortest lived of all human emotions?
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Old 10 Dec 2018, 23:14 (Ref:3869312)   #741
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Gratitude, shortest lived of all human emotions?

One also has to take into account that it is alleged that he (and possibly Roy) used monies from the sale of Kingfisher Beer (the company) to prop up Force India, when in fact that money should have been paid to his (their) creditors in India. That is the crime that the Indian authorities have cited as the reason for the extradition.

If the above is true, then it is highly likely that Force India would have folded or been sold off a while ago if the Indian creditors had been paid the monies owed to them.
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Old 16 Dec 2018, 16:02 (Ref:3870683)   #742
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Not that it concerns what was Force India any more, or hopefully it shouldn't, Mallya's bank creditors commenced court proceedings on Friday to bankrupt him in an attempt to seize his worldwide assets.

In a separate move, creditors have moved against his son who has defaulted on a multi-million loan taken out by Mallya using his yacht, Force India, as security. Title to the yacht was transferred to his son.
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Old 5 Feb 2019, 06:36 (Ref:3882001)   #743
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It looks like the court has ruled in favour of extraditing Mallya. Still has to go to the Home Secretary though. His extradition now would no longer risk skilled British jobs.
Reported this morning- he’s off...... (unless appeal upheld of course)

https://www.bbc.co.uk/news/business-47121447
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Old 5 Feb 2019, 13:55 (Ref:3882082)   #744
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Reported this morning- he’s off...... (unless appeal upheld of course)

https://www.bbc.co.uk/news/business-47121447
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Old 5 Feb 2019, 14:38 (Ref:3882096)   #745
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Whatever happens, in the end he won't finish up living in a caravan
No I am sure he has a few diamonds hidden in a filing cabinet somewhere.
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Old 8 Feb 2019, 17:56 (Ref:3882669)   #746
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Whatever happens, in the end he won't finish up living in a caravan
Reading up on this Gordon, it may be a jail cell with his mate Roy.!!

I think now his money/credit line must be running a bit low. his mates are looking the other way...
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Old 11 Feb 2019, 11:54 (Ref:3883204)   #747
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Whatever happens, in the end he won't finish up living in a caravan
Historically the motor racing scene seems to attract some really big rogues, one of the biggest names in sportscar racing stateside that everyone's probably forgotten about: https://en.wikipedia.org/wiki/Scott_...(racing_driver)
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Old 11 Feb 2019, 13:08 (Ref:3883230)   #748
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Indeed and there were a few team bosses in the late 80s and early 90s that found themselves in the nick
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Old 11 Feb 2019, 14:38 (Ref:3883256)   #749
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Historically the motor racing scene seems to attract some really big rogues, one of the biggest names in sportscar racing stateside that everyone's probably forgotten about: https://en.wikipedia.org/wiki/Scott_...(racing_driver)
US sportcar/prototype racing has a history of questionable characters funding their racing habit in questionable ways.

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Old 11 Feb 2019, 15:04 (Ref:3883263)   #750
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US sportcar/prototype racing has a history of questionable characters funding their racing habit in questionable ways.

Richard
John Field in ALMS springs to mind.
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