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...Ecclestone has ruled Formula One racing for almost 30 years through a web of firms. But London's High Court last week handed Speed Investments - a consortium of Bayerische Landesbank, JPMorgan and Lehman Brothers - control over Formula One Holdings (FOH), one of the companies that runs the multibillion-dollar F1 business. Why the ruling? The banks have held a 75% stake in SLEC Holdings, a firm that controls FOH, since 2002, when the Kirch media empire, the previous stakeholder, collapsed. And the banks may now seek a greater say at two other Ecclestone firms. Could he be overtaken? "Bernie will...
Virtually nonexistent even a decade ago, the market for digital cameras grew to $17 billion in 2003, and sales are expected to soar 39% this year, according to research firm IDC. And since introducing in 1996 the DSC-F1, one of the first affordable digital cameras, Sony has gone on to capture an industry-leading 18%. Canon is close behind with 16%, and Olympus and Kodak have 13% and 12%, respectively...
Michael Schumacher's dominance of Formula 1 racing is yawn inducing [July 26]. I grew up a big fan of F1 races and have enjoyed many years following the sport. Unfortunately, as more and more high-tech auto innovations were allowed, I began to lose interest. The racing was getting sterile, even boring. Now, with almost zero competition among the cars and drivers, you can count me as one whose interest is nonexistent. LARRY BOLT Fort Collins, Colo...
...Ferraris he drives are the fastest, most reliable cars on the circuit. Ferrari, owned by Fiat, has deep pockets, spending $450 million on its racing team this year, compared with $35 million for Minardi, one of the smaller teams. And Schumacher has perhaps the fastest reaction time of any F1 driver. He began developing his skills early, racing go-carts when he was 4 and becoming German national junior champion at 15. When Eddie Jordan, head of the Jordan racing team, offered Schumacher a chance to drive Formula 1 in 1991, Schumacher broke the track record for the Jordan...
Spurning the flamboyant, womanizing lifestyle associated with many F1 drivers, Schumacher lives quietly in Switzerland with his wife and their two children. He's intense, working out up to four hours a day; last year he won the Monaco Grand Prix hours after learning that his mother had died. Jordan says that by now, none of the established drivers can beat Schumacher: "Psychologically, Michael has got inside their heads...