Who is next to go ?

**Knock-on** · 26th January 2009, 09:54

Originally Posted by gloomyDAY

Why don't you just provide a link and stop being rude?

I just typed up "Whispers doubt Renault future" into Google and it came straight up.

Didn't seem that hard....

**CNR** · 26th January 2009, 10:38

http://blogs.iht.com/tribtalk/sports/f1/?p=549
ING troubles to hit F1 program

The Dutch financial services company, ING Groep, which took an injection of 10 billion euros last year during the financial meltdown has today announced that it has posted its second quarterly loss in a row, this time for 3.3 billion euros. According to reports by Bloomberg, the company will cut 7,000 jobs as it attempts to reduce costs in 2009 by 1 billion euros. The company will also tap into 22 billion euros of Dutch state loan guarantees for its troubled loan portfolio, Reuters reported.
ING is one of the top sponsors in Formula One, with a title sponsorship of the Renault team, and title sponsorship of two races and with track advertising at 14 of the 18 races last year. The company has also had a large marketing campaign connected to its Formula One program over the last couple of years.
As part of the cost cuts the company is cutting its Formula One sponsorship by 40 percent in 2009. An ING spokesperson told the IHT that the company would assess mid-year whether or not to continue the sponsorship beyond 2009. He also said that the 40 percent cut would have to do with all activities that are not included in the company’s contracts with Formula One. In other words, Formula One’s contractually obligated income will remain untouched, but ING will cut down on certain activities - hospitality, for instance, and likely marketing campaigns - that are not part of the contractually obligated deals it has with the Renault team and the FOM.

26th January 2009, 21:05

Originally Posted by thunderbolt

http://blogs.iht.com/tribtalk/sports/f1/?p=549
ING troubles to hit F1 program

What a shame that some do-gooder/politically correct fools had to ban tobacco sponsorship.

F1 survived previous downturns because of tobacco sponsorship. Now it looks as though hundreds of people could end up unemployed because of it.

I hope the idiots who supported the tobacco ban choke on their quorn as the read the Guardian.

**trumperZ06** · 26th January 2009, 21:07

Bernie's "House of Cards" might be falling...

First, it was team Honda withdrawing.

Then Bernie "advanced" funds to Williams to prop up the team.

Now, it looks like Renault will have to "make do" with only 40 percent of the customer support they expected from ING.

Bernie first sez it's not important... how many cars are on the grid.

Now he's suggesting the established teams might be allowed to enter THREE cars, to grid twenty cars.

He also said the teams can now get by with less money... that F-1 is pushing reduced co$ts.

Then he says the Big teams should be allowed to spend as much as they want for new development.

Bernie is running around in a frenzy... offering solutions that he changes (sometimes by 180 degrees) from day to day !!!

: Imagine a leprechaun who has just lost his pot of Gold...

that would be Bernie, dashing hither & yawn,

searching to recover the magic, once again.

**ioan** · 26th January 2009, 22:58

Originally Posted by trumperZ06

Bernie is running around in a frenzy... offering solutions that he changes (sometimes by 180 degrees) from day to day !!!

: Imagine a leprechaun who has just lost his pot of Gold...

that would be Bernie, dashing hither & yawn,

searching to recover the magic, once again.

I think his time has come to disappear from the stage!
It's been many years since the last time he was useful to F1.