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...circus had come to town for its annual preseason trials. It was only a test session (racing gets under way March 14 in Bahrain), but it gives you a good idea why F1 is one of the biggest sporting enterprises in the world - part medieval joust, part moon launch. The pennants bearing each team's coat of arms flap jauntily from trucks that house enough computing power to send a man into orbit. This mix of techno-dazzle and hometown pride helps explain why 40,000 fans turned out at Ricardo Tormo to watch a nonrace with no winner...
More Dash Than Cash Last summer, it looked like the sport might cease to exist altogether. Angry at Formula One's decision to impose a team-spending cap, Ferrari, the oldest team on the grid, threatened to lead the biggest marques in a rival series. The teams pulled back at the last minute, but demanded that Max Mosley, the president of the governing Federation Internationale de l'Automobile (FIA), stand down after 17 years. Mosley...
...wind tunnel, for example, costs close to $40 million to construct, not counting the corps of engineers needed to run it. Average annual team budgets had climbed near $300 million and the biggest teams spent $500 million. Sponsorship and prize money rarely brought in half that. "Very few of the teams could actually make any money," says Caroline Reid, who co-authors Formula Money, the authoritative guide to F1's finances. (See a brief history of Formula...
...reason is clear: Chile is a country that is rich enough and well governed enough to insist that buildings be constructed to withstand quakes. Haiti is neither. There is a lesson in this. The biggest threat to human life was once natural disasters. Now it is our own shortcomings. To walk through Chile's gleaming and unbroken capital is to learn that although earthquakes, when coupled with dire poverty, can do terrible harm, we have the capacity to mitigate...
...Take the issue of global warming. During the climate summit in Copenhagen in December, the biggest rifts were between the rich countries most responsible for global warming and the developing nations where its effects will be hardest felt. Representatives from poor countries attempted to raise the stakes by staging a walkout. But when a deal was finally struck, it was the major polluters - the U.S. and China - who dominated the discussion, not the world's smallest and least developed states...