today's city council mtg... vote scheduled for 6/23 http://www.kvue.com/news/Debate-over-funding-for-Formula-1-is-revving-up-123578574.html http://www.kvue.com/news/Debate-over-funding-for-Formula-1-is-revving-up-123578574.html http://www.kutnews.org/post/f1-organizers-want-city-pay-4-million-year-trust-fund a key paragraph from the final link... "The Circuit Events Local Organizing Committee reminded council members that the deal would bring up to $300 million in private investment to construct what would essentially be a multipurpose facility. The Circuit of the Americas could host other races besides F1 and could also serve as a music venue, for example." So without the public money they have no private money??? Seems they are hoping to use the public money as bait to bring in private investors... (that they don't have yet...) Anyone want to change their vote?
Ha ha. I locked up in the turn past the hill and got in a wreck a few years ago 2769 would make for a better track I think. Driving to my dad's house in the wee hours of the morning, I got pretty good at driving that road This was actually discussed back in April following the press conference. There's more than one corporate entity involved in the project.....
Say that 3x and click your heels... "Involved" and "writing $100M checks" should not be confused as one and the same...
http://www.ci.austin.tx.us/channel6/ If you wanna watch the video for yourself Click the city council tab, and todays meeting is up at the top
They would have burned through that money a long time ago. Probably several multiples of that already. Tax assessed value of the land alone is just over $7MM and market rate was probably higher than that....
Can't say I don't blame you. You can just watch the item 9 section of the video, and that brings it down to movie length fun fact: Williams sponsor, at&t is based out of dallas.
I wasn't going anywhere or trying to infer anything. I just thought it was interesting when I realized that the other day. Any other US companies got their names on a car? I know AMD is with Ferrari. Thought I saw a Dell logo in a green car earlier in the season..
I sense a little sarcasim. When discussed, it was harolded as one of the many 'kisses of death' to the project. No way they've only spent $12MM on this project so far. which means they're getting the rest from somewhere
Wouldn't be so confident... I've posted before that I suspect Red McCombs bought the land. The $12M is likely separate from that... No real work was done until may... plowing dirt is cheap...
This is the property they own: AHSPE LLC MC ANGUS RD 890,640.00 AHSPE LLC MC ANGUS RD 480,000.00 AHSPE LLC MC ANGUS RD 3,467,748.00 AHSPE LLC ELROY RD 1,272,096.00 AHSPE LLC ELROY RD 180,228.00 AHSPE LLC ELROY RD 940,181.00 AHSPE LLC F M RD 812 2,263,049.00 AHSPE LLC ELROY RD 410,160.00 AHSPE LLC ELROY RD 343,884.00 AHSPE LLC ELROY RD 41,076.00 AHSPE LLC 8710 ELROY RD 573,865.00 AHSPE LLC MC ANGUS RD 1,484,640.00 I'll try and find the time tomorrow to look with the Texas Secretary of State office about the corporate filings for AHSPE LLC, and a few others mentioned in the public record related to this. I'm kind of curious myself
I think you'll find that most, if not all, US firms in F1 are either technology partners or are looking at markets overseas. That might change if there is a viable US race.
I remember when Renault partnered with, IIRC, Boeing on aerodynamics. Flabbio made a lot of claims about technology sharing and working together. Someone had talked to the Boeing guys who, quite bluntly, said that F1's understanding of aerodynamics was so primitive and their tools and techniques so unsophisticated that there was absolutely nothing they could gain from the partnership. The profit from a single plane sale on a COGS basis is probably more than most teams spend on an entire season in F1. I doubt there is even close to the ROI necessary to make it worth it, especially when they would be doing all the work. I think Newey is a sharp guy, but within his field. He ain't gonna be getting a job at Airbus or Gulfstream anytime soon
wouldn't it make more sense for Renault to have partnered with EADS/Airbus? at any rate you're probably correct, F1 is not only more primitive than aerospace, it has the exact opposite goal-stick something to the ground, not make it leave the ground
Well, Renault also has some interests in aviation, so if they compete more with EADS in the EU market, maybe they felt working with Boeing would possibly help in the aerospace side of things? That's a total WAG, I have no idea what connection if any exists between the aero and F1 activities of Renault. And besides, who ever said sense and F1 were related? I found a press release about the collaboration: http://www.boeing.com/news/releases/2004/q2/nr_040617p.html I couldn't find the article I remember reading where the Boeing guys poo-pooed the collaboration, but obviously it was off the record stuff. Manufacturing and engineering is a bit of a hobby/interest of mine, and I am always blown away at the vast amount of engineering know-how and skill in airplanes. I imagine a collaboration meeting between them would go something like one between James Cameron and my high-school video club teacher
I don't know, I seem to remember Mercedes having some success with making their cars fly at Le Mans a few years back.
I recall an article in one of the local Austin papers that said the landwoners had become equity participants in return for putting in the land. If my memory is correct, COTA hasn't spent that money either.
Their webpage now has new overhead pics. You can acutally see the whole track layout pretty well on one of them. So it at least looks like progress is being made. http://www.facebook.com/media/set/?set=a.154237887948613.31828.149408615098207#!/photo.php?fbid=211179952254406&set=a.154237887948613.31828.149408615098207&type=1&theater Mark
