Industry News
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<< September 07 | November 07 >>
News for 31st October 2007
Honda F1 campaign wins green award
The Brackley, UK based Honda Racing Formula One team’s ‘My Earth Dream’ sponsorhip campaign has won the Grand Prix at the second Green Awards, which reward business for communicating sustainability in a creative and original way.
The Honda campaign featured an image of the earth, composed of pixel-sized names of individual supporters who pledged to make a donation to an environmental charity, on the team's cars rather than the usual sponsor logos.
Eric Falt, the director of communications at the United Nations Environment Programme and chairman of the judging panel described the Honda campaign as, "the most creative all round, with a multiplicity of messages. It was an imaginative response which really got people thinking, and had many reappraise their relationship with Formula 1."
McLaren fuel appeal date set
The FIA has confirmed that its International Court of Appeal will hear McLaren's appeal, against the decision of the Brazilian Grand Prix stewards not to penalise cars from rival teams for irregularities in their fuel, on November 15.
The Woking, UK based McLaren-Mercedes team lodged its appeal after the Brazilian race when it was revealed the fuel samples taken from BMW Sauber cars and Williams-Toyotas were outside temperature limits and which can affect car performance. If appeal is upheld and the rival cars are excluded from the result, it is possible that McLaren driver Lewis Hamilton could move up to fourth place and thus score enough points to win the drivers championship.
New chief designer at BMW Sauber
The Hinwil, Switzerland based BMW Sauber Formula One team has appointed Christoph Zimmermann as its new chief designer.
Zimmermann, replaces Jorg Zander, who left BMW Sauber to join the rival Honda Racing organisation in July. Zimmermann joined the PP Sauber team in 1989 as a composites designer when it was competing in the World Sportscar Championship and was retained by the organisation when it moved into Formula One in 1993. Apart from a short period working for the San Clemente, USA based racing car constructor Swift Engineering from 1999-2000 Zimmermann has remained with the Swiss based team.
BMW motorsport director Mario Theissen said, "On principle we fill executive positions internally whenever possible. It also sends an important signal to our workforce. I am delighted that in Christoph Zimmermann we have a highly qualified colleague in our ranks who will take over the task of Chief Designer.
"From his previous work he is familiar with the complex technical relationships as well as the specific operational procedures involved. In keeping with our philosophy, we will also replace him internally."
Increased loss at Australian Grand Prix
A report presented to the government of the Australian state of Victoria has shown that AUS$34.5 million of state tax payer’s money was spent in supporting the 2007 Formula One Australian Grand Prix that was held in Melbourne in March.
The annual report by the Australian Grand Prix cites that reduced levels of ticket sales, sponsorship and commercial revenue as reasons for the loss which is said to be up from AUS $21 million in 2006.
FPR appoints new commercial manager
The Australian Ford Performance Racing (FPR) organisation which is owned by the Banbury, UK based automotive and motorsport development company Prodrive and competes in the Australian V8 Supercars touring car racing series has appointed David Vervaart as its new commercial manager.
Vervaart joins Campbellfield, Victoria based FPR after a long career in motorsport including a period work for the Confederation of Australian Motor Sport, the governing body of Australian motorsport
ISC to sell New York site
The Daytona, US based race circuit owner and operator International Speedway Corporation has agreed the sale of a 676-acre site on Staten Island, New York on which it had planned to built a $600 million 0.75-mile NASCAR standard race track.
A US Securities and Exchange Commission filing shows that ISC subsidiary 380 Development is to sell the land to a Maryland based investment trust for approximately $100 million in cash.
ISC was forced to abandon its plans for the site in 2006 because of widespread opposition from both local residents and councils.
Centenary TT worth £48 million to IoM
According to figures published last week the 2007 Centenary Isle of Man TT races were worth around £48 million to the economy of the island.
The figures released by Isle of Man Department of Tourism and Leisure calculate that the 60,000 visitors to the island spent an estimated £800 per head. Adrian Earnshaw MHK, Minister for Tourism and Leisure said, “I am delighted with what has been achieved in 2007 and look forward to seeing more new teams, high profile riders lining up in 2008.
“The TT is very much on the up and we are working with our partners and the motorcycle industry to successfully launch the event into its second century in
June.”
DfT announces low carbon transport policy framework
A new framework to deliver a transport system to support the economy and reduce carbon emissions was unveiled by Ruth Kelly yesterday. 'Towards a Sustainable Transport System' is the Department for Transport's response to both the Eddington Transport Study and the Stern Review of the Economics of Climate Change.
It is the first stage of a consultation process to deliver a transport system that meets the key objectives of supporting the UK's economic competitiveness and helping address climate change. It argues that forcing the pace of technological improvements and removing the obstacles to behavioural change will be key to ensuring transport makes a substantial contribution to the goal of at least a 60% reduction of CO2 by 2050.
It will begin the development of a plan for cutting transport's carbon footprint and aims to ensure that attention is focused where the most benefit can be gained. The document demonstrates how this new approach to planning will be underpinned by long term funding. The recent Comprehensive Spending Review means that the Department for Transport now has a long term funding guideline to 2019 and that spending on transport will be double what it was twenty years previously.
Given the fact that transport spending takes time, investment plans up to 2013/14 are largely set, and funding over the next six years will be focused on the most congested routes.
Beyond 2014 the document shows that over £20 billion of Government funding could still be allocated to specific improvements up to 2019. This funding, when combined with further private sector investment, would give the opportunity to make substantial further improvements to the country's transport network.
'Towards a Sustainable Transport System' sets out a new strategic approach to ensure this funding is put to best use. It outlines how the Department will engage with passengers, users, the transport industry and other stakeholders as it develops and implements that process. The next stage will be the publication of a Green Paper and formal consultation in the spring 2008.
- The Department for Transport has also announced funding grants of more than £132 million towards supporting rail freight. The awards will improve freight infrastructure on four specific rail freight projects across the country and reduce dependency on road transport, removing around 300,000 lorry journeys from our roads every year.
Motorsport Industry Association to host R&D tax credits seminar
The Motorsport Industry Association is hosting a seminar on R&D tax credits in January 2008. Speakers will include representatives of HM Treasury and two leading accountancy practices specialising in the subject. Case studies will also be presented.
The MIA's Jade Connolly says, "This is the Government's most tangible support for the motorsport industry. Companies that have benefited to date have been pleasantly surprised by the size of the credits achieved. To date, the credits have particularly benefited the SMEs, but the changes in regulations are intended to single out larger enterprises for additional assistance.
The seminar is being timed to impart all the required information ahead of the financial year end. It is aimed at financial managers and directors, accountants and auditors.
Those interested in attending should e-mail