US GP in Austin Discussion and Speculation...

Wowzers. As in the developer knows there isn't much construction going on, so they expect the contractors to take a loss just to keep their company busy?

I posted the youtube link up in post 1334, youtube firewalled out as well?? My old job tried to do it, but I found a way around it

In the video, there are like at least 40 pieces of heavy equipment, but no people. Was kind of thinking, maybe they just don't have anywhere else to use it, so they parked it all there.

*sigh*; hoping they're just holding out for the gov't to pick up the tab for the road improvements

 

The deal is, you can only get Inspections on the permitted work, so it's a real fine line to walk, and you have to know how/what do do...

I could run underground electrical against a "Foundation Only" permit IF the Electrical Department had styled it that way in the computer system.

I hope that makes sense, you have to walk it thru Planning and talk to the right people, and a lot of it is also based upon your historical reputation with the Department.

I sure hope those carpetbaggers from Dallas can get it done......
They were low, so it's their ball to run!!

I'd imagine those graders are idle because of the permitting/inspection issues, but it COULD be because SRT Mike is right all along....

Don't forget those family photos of Tavio with Bernie.
The mind reels, at the Back Room agreements that may already be in place...

 

"Staying busy" and "Losing money doing it" doesnt go over real big, in the Board Room of our parent holding company.....

 

Losing money slowly isn't necessarily a bad strategy when your goal is to wait for the economy to improve.

 

The video was dated May 8th - Sunday. I recall an earlier post saying they were working 6 days a week at this time.

I have read every post in this thread and have no idea what is going on there or what the ultimate plan is - 2012, 2013, never... Lots of work left to be done.

I do hope it is successful in some way as the track design looks pretty good and I would love to have F1 back in the States.

 

We are very fortunate to have the back log in volume we enjoy now, and some good projects with good owners, but cutting 50% of your workforce is very painful and those guys won't be back, most likely.

Current projects to bid is maybe 15% of what we saw in 2008, and f course the competition is outrageous, and "no" we won't bid it "at cost" as every project presents risk..you'd be better off parking your money.

Of course with the current course in Washington and Wall Street and Banking, I think the US is "done".....personally.

Glad I got to see it.

As I said 'way back' this project doesn't even fit our parameters, to pursue.
I did mention it in a meeting once......

I go to Austin on Thursdays, to dance......

 

That would explain a lot

BigTex - What kind of actions do contractors pursue if projects like this go under? Seems there'd be some damages there

 

Well you try to be "aggressively billed" based upon your cost of work installed, etc.

But really a defaulted contract has little value.

Sometimes a player will come in and bid the "balance to complete".

I'm sure this will end up 'a Track', but as these jokers are making sport of us it might be for Off Road racing, or mud bogs with topless UT coeds on 4 wheelers..

The advantage of Houston's CART events was the temporary track required "not a lot" of capitol expediture.
It really WAS like "the circus came to town"...and then was gone, leaving litter and trophies.
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...it was pretty fun, tho.....
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I'll bet Tavio buys 'Top Shelf' champagne, too!

I think the deal is with Moet????

Note how wet the second place finisher is, we rain RIGHT after it had rained...the only way to stay clean, was to lead! LOL!
It worked out well.....

 

I am not confusing anything.

The project is a $400mm project - the total cost.

$25mm is the fee they owe Bernie, whether they race this year or not.

$10mm is the penalty they pay if they don't get done in time for '12.

$5-8mm is the amount I've heard tossed around for road improvements.


There is no way in hell that they would be gambling this whole project on who pays the road improvements. Furthermore, it is not feasible that they haven't started work elsewhere because the road improvements haven't yet been funded.

That would be like threatening not to close on your mortgage for the dream house you're building and have already partly built because you think the closing costs should be $1,000 instead of $1,200.

 

Agree.

As soon as this project was announced (5/2010), Tavo was claiming the schedule was tight but do-able... as long as construction began in 2010.

Anyone remember that picture of the lone bulldozer moving a few yards of dirt with 5 guys standing around on December 31, 2010?

Well now it's nearly 6 months later... and if that 1 guy had been running that 1 bulldozer for the last 6 months they would be further along.

How anyone can believe this is a serious project escapes me.

 

Why the hell would they even be pushing dirt if it was not a serious project?

 

Window dressing. Otherwise known as wishin' & hopin'.

Its much easier to attract investors in what can be portrayed as a going concern than in an empty lot.

 

Agreed. They've spent quite a bit of money already... someone has been bankrolling this so far with the idea that it will happen.

 

Just like every other project that fails for lack of funds, you do your best to keep up appearances until your money runs out, and you can get no more credit.

It is exactly that they have done nothing but push a small quantity of dirt in the 6 months since they broke ground that should concern you.

 

Seed capital was invested and they need to do the PR tour to get stage 1 financing - that requires the appearance of "everything is just fine and dandy".

USF1 bought machinery and rented a building too.

 

https://www.facebook.com/pages/Friends-of-Circuit-of-the-Americas/106702412746697
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Still not very convincing.

 

+1

 

A step in the right direction

 

I'm adding a +1 to all your past and future posts in this thread, until further notice.

I suspect you have saved a lot of us a lot of time. Thank you.

PS - How's the 22 story tower coming?

 

I have a feeling the news media may be picking this story soon.

I would very much like to be wrong about this - a track in Austin would be great... convenient to get to and I firmly believe F1 should be in the USA.

But if *the* most historic and successful track in the USA can't make it happen, there is no way an upstart newcomer can make it happen, especially when spearheaded by a n00b with no relevant experience and starting $400mm in the hole.

 

Shoulda bought out that superconducting supercollider and raced F1 in the tube! Then they coulda put chicanes that ran the cars onto the tunnel roof, proving the efficacy of those tiny wings!

 

They could have proved the corniest and most over-used F1 sayings "these cars could drive on the roof of a tunnel!!!!"