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 Psych! Honda F1 not being bought by Mexican billionaire |
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Dec 30, 2008 - 12:15 AM - by Honda Forum
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Filed under: Motorsports, Honda
 Have you heard the one about the former F1 team that gets bought by the Mexican billionaire? Yeah, well, we heard it, too, and it's completely untrue. Not only has Carlos Slim has not bought Honda, but a spokesman makes clear that "There is no deal for the Honda team. There is neither agreement nor negotiations."
Nevertheless, Honda says it is leaving the team in good shape and everything is still moving forward. Team chief Ross Brawn said "We have enough funding to get us through to Melbourne and we still have a competitive package." Brawn also said so many folks are snooping around that they've got to sort the jokers from the serious players. Cue Dave Richards...
[Source: ... [Read More]
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0 Replies | 1 Views
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Honda F1 SOLD! to a man named Slim |
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Dec 28, 2008 - 4:05 AM - by Honda Forum
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Filed under: Motorsports, Honda
 According to La Stampa, Honda F1 has a buyer: Mexican telecom billionaire Carlos Slim Helu. Reports claim he paid the single dollar Honda was asking. He trumped Force India F1 owner Vijay Mallya, who was suspected to want the Honda team only for its tech know-how, and Prodrive's Dave Richards.
When Honda announced its immediate departure from F1 on December 4, it gave the outfit 27 days to find a bona fide buyer who would make a credible 3-year commitment to run the team. If the team did find such a purchaser, Honda said it would assist with finances and technical support. Carlos Slim has the finances and the experience: he is reportedly the second richest man in the world, and his companies are already involved in motorsport.
If the transaction proves to be true, and assuming the team gets funded properly, it... [Read More]
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0 Replies | 2 Views
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Prodrive/Aston chief David Richards considering Honda F1 buy-out |
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Dec 27, 2008 - 12:15 AM - by Honda Forum
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Filed under: Motorsports, Honda, UK
 What goes around comes around, or so the saying goes. This is certainly true for Prodrive's front-man David Richards, who never seems to be lacking for opportunities. Having run racing programs for Subaru, Aston Martin, BMW, Porsche, MG, Alfa Romeo, Ford and Ferrari - to name just a few - Richard's Prodrive outfit was contracted by Honda to run its Formula One program, then running under the BAR banner. Honda then decided to operate the team in-house, and Richards moved towards fielding his own entry. As it turns out, neither plan panned out, and Richards is now considering leading a consortium of investors to acquire the Honda team anew.
Similar to the deal that saw Richards take the reins at Aston Martin, the veteran racing guru is talking with Investment Dar about financing the operation. Of... [Read More]
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0 Replies | 1 Views
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Japanese CEOs sitting out Detroit show, scale back the glitz |
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Dec 27, 2008 - 12:15 AM - by Honda Forum
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Filed under: Detroit Auto Show, Honda, Toyota
Honda and Toyota may not be joining their colleagues at Nissan, Mitsubishi and Suzuki in canceling their participation in this year's Detroit Auto Show, but they still won't be laying on the glitz and glamor that have become the mainstay of past events.
For starters, both Honda's and Toyota's CEOs won't be attending, even though the market is vital to their success. Beyond that, neither will be holding press conferences to unveil their new hybrids, simply placing the vehicles on their show stands and waiting for questions. No parties, either, as they acknowledge the economic state of the industry leaves little to celebrate this year. The automakers didn't give any specific reasons for their decision to scale things back, but sources suggest that the move was made out of deference to the difficulties faced by their rivals in Detroit.
[Source: ... [Read More]
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0 Replies | 1 Views
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Honda could move headquarters outside of Japan |
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Dec 23, 2008 - 2:11 AM - by Honda Forum
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Filed under: Government/Legal, Japan, Honda, Earnings/Financials
Corporate posturing or not, Honda's Takeo Fukui made his opinions perfectly clear regarding the Japanese government's recent lack of currency manipulation. Fukui, CEO of Honda Motor Co., suggested that the yen's rise in value relative to the currency in the United States and Europe is causing major damage to the automaker, and he's willing to take drastic measures to stop the hurt, including relocating the automaker's corporate headquarters to another country. Other possible actions include a major reduction in workforce, including the type of permanent lay-offs that the automaker has typically avoided in the past, as well as moving more production out of Japan and into overseas markets.
Fukui might get exactly what he wishes for, as many economists are predicting that... [Read More]
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0 Replies | 1 Views
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2009 Honda Hoot cancelled |
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Dec 21, 2008 - 8:12 PM - by Honda Forum
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Filed under: Honda, Lifestyle, Motorcycles
Honda seems to be canceling events left and right amidst the gloomy economic conditions, first announcing it was leaving Formula 1 and following that shocker up by dropping from AMA road racing competition. The latest event chopped from Honda's 2009 calendar is the Honda Hoot, a large motorcycle rally that's normally scheduled to take place late in June. Honda blames the cancellation on "economic uncertainty." Each year, thousands of riders flocked to Knoxville, TN, with last year marking the fifteenth annual running. Obviously, Knoxville Mayor Bill Haslam is disappointed that the 16,000 tourists who crashed his town in '08 won't be dropping by next year, but the reality is that both the city and Honda may have expected a smaller turnout next year anyway, and the the motorcycle maker just... [Read More]
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0 Replies | 2 Views
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