Spyker CEO Says F1 Experiment Nearly Killed the Company
Victor Muller, CEO of Dutch super car builder Spyker, is reportedly quite relieved to be out of the Formula One business. The company head said that Spyker’s duration in F1 was dangerously expensive for the small company, calling the racing experiment “a massive bleeder.
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dante
Big surprise. How can you be CEO and not understand this as too much and unnecessary for such a small company?
chartguy
Emotions are amazing. When everything's going your way, you feel like Superman, and that's what Spyker did. Alan Greenspan called "irrational exuberance".
Look at Dubai. It's about to do this on a scale a thousand times larger. Any place that builds an indoor ski run in a desert is clearly suffering from "irrational exuberance". Add in the tallest building in the world, and you're just about there.
Raskob raised the money for the Empire State building in early 1929. It took WWII to finally get all the office space rented out. There was at least a decade with huge vacancy rates.
The Stig
Maybe he should've made sure his cars would win. Then he would've had some prize money to help carry things through. I can't remember which team they bought out (Jordan?) but it's not like they were buying a team with a winning record in the first place.
CARSON44
It's hard to believe that Mr. Muller was unaware of the stratospheric costs associated with F-1. Surely he knows that the top 3 teams have a combined budget in excess of a billion dollars. Perhaps he should look into Kart racing. Too bad really, they had a catchy name and good looking cars, something like ARROWS. I guess the real winner in all this is Eddie Jordan, that sly fox.
Jonathan Fung
I love the phrase "irrational exuberance." It would appear that chartguy and I speak the same language quite often.
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