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14 May 2002, 12:45 (Ref:286204)
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#1 | ||
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Take That Fan
Veteran
Join Date: Jan 2001
Posts: 9,104
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Could this be the reason?
Just found this little news item on BBC news online:-
Fiat to float Ferrari Fiat Group plans to race out of its financial problems by selling shares in sports car maker Ferrari by the end of this year. Italy's industrial giant said it hoped to raise at least 1bn euros ($900m; £624m) altogether from selling shares in Ferrari and in the tractor maker CNH Global. Fiat Group unveiled losses for the first three months of this year that exceeded the gloomiest forecasts from auto industry analysts. Falling sales and rising losses at Fiat Auto, its core car-making business which produces the Fiat, Alfa Romeo and Lancia brands, hurt overall group profits. Big losses Fiat Group sank into the red with a net loss of 529m euros between January and March, compared to profits of 193m euros for the same period last year. Analysts had predicted a loss of between 275m and 400m euros. Fiat Auto's operating loss widened to 429m euros from 16m a year earlier. Executive chairman Paolo Fresco announced the partial public listing of Ferrari at the group's annual shareholders meeting in Turin. "We expect these two transactions to generate proceeds of at least 1bn euros, and in the case of Ferrari, a large capital gain," the group's Ferrari Maserati is 90% owned by Fiat, while the rest of the company belongs to the Ferrari family. It just gets better and better ! ! ! |
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__________________
There is only one way of life and thats your own ! ! ! 
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14 May 2002, 12:47 (Ref:286208)
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#2 | ||
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Veteran
Join Date: Mar 2002
Posts: 569
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No, it was just Ferrari wantin' to extend Shu's lead, nothin' more.
But interstin' though. |
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__________________
It were proper bo, I tell thee.
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14 May 2002, 12:58 (Ref:286223)
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#3 | ||
 Race OfficialVeteran
Join Date: Mar 2002
Posts: 2,776
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It's interesting to see that Fiat's loss is not that much different than the Ferrari Grand Prix team's operating budget per year..
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__________________
Successfully crashing a probe into the moon is like saying you successfully swam the English Channel by having your corpse wash up on the beach.
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14 May 2002, 13:11 (Ref:286249)
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#4 | ||
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Racer
Join Date: Apr 2001
Posts: 184
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no, i think it was because the heads of Ferrari bet money on Schu to win, and to win a whole set of tracks.
who knows........... it wont be just for the Championship.....i dont think so......there must be something do with money in here. |
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14 May 2002, 13:18 (Ref:286261)
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#5 | ||
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Veteran
Join Date: Mar 2002
Posts: 569
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Of course it's to do with money, Ferrari help Shu become the most succsessfull driver in F1, in comes more sponsers and offers of endorsin' merchandise = more money for the team.
Shame Shu can't become the most succsessfull F1 driver without help though. 
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__________________
It were proper bo, I tell thee.
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14 May 2002, 16:29 (Ref:286433)
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#6 | ||
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Veteran
Join Date: Feb 1999
Posts: 12,451
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You think they're going to want him endorsing their products now when the world will see him with a toilet seat around his neck?
"Because I'm worth it" indeed. Those may be the most expensive 3 points anyone has ever stolen. |
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__________________
"If we won all the time, we'd be as unpopular as Ferrari, and we want to avoid that. We enjoy being a team that everybody likes." Flavio Briatore
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14 May 2002, 16:56 (Ref:286459)
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#7 | |
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Veteran
Join Date: Mar 2002
Posts: 2,742
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em.....
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__________________
I want you to drive flat out
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