McLaren and Aston Martin on the verge of collapse ?

Thanks ,Paddy

 

Who is Paddy?

 

Lowe

 

Paddy cake?

 

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That is how it looks when "Money" is talking to "No Money" lol

 

How about a caption for this encounter?
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Pretty certain after rather his embarrassing & grossly mismanaged blip at Williams, Paddy won’t be getting an F1 job again. Also, captured for all eternity on Netflix.

 

IMO, Paddy Lowe had his "hands tied behind his back" with regards to car development i.e. aero upgrades per race, chassis upgrades, etc. because of the financial strain William's was under.

He came from Mercedes where their budget is like "night-and-day" when compared to Williams.

 

He worked alright at Mercedes, but became the "fall guy" at Williams.

Bad career move.

 

This just means Paddy is not a guy for a low bucks team. Paddy is a guy for a high bucks team.

 

I was surprised they farmed him out to Williams.

 

He was the ideal scapegoat, I think.
Williams is living on borrowed time under the present ownership, IMO.

 

A bit from the FT about Aston -

Aston Martin Says It Had ‘Accounting Errors’ That Understated Losses Since Its IPO
The case of Aston Martin has been interesting, as the company took on a billionaire backer to shuttle out a late-to-the trend luxury SUV just as we all entered a global health and economic crisis. Another wrinkle is that **** has been worse there than it had been telling people, as the FT reports:

The new owners of Aston Martin have identified accounting errors at its US business that led the luxury carmaker to understate the scale of last year’s losses.

The discrepancies saw payments to US dealers booked later than they should have been, which inflated profits and affected the company’s balance sheet. The errors date back to 2018, the year Aston held its initial public offering, the company said on Wednesday.

As a result of the accounting problems, pre-tax losses in 2019 were understated by £15.3m. The revision means Aston made a loss last year of £70.9m compared with the £55.6m initially reported.

IPO sounds interesting with the timing. Losses were there before it??

 

When I was doing my masters I had one of the best accouting professors in the world and still I didn't learn it well. It's so easy to have completely different outcomes with little internal mistakes.