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While some teams have cheered the idea, others have blown a gasket. Ferrari, the sport's oldest and most illustrious team, this week threatened to quit Formula One unless the plans were parked. On Friday, Team Ferrari filed an injunction in a French court to block the cap. Rivals Renault, Toyota, Red Bull and Torro Rosso all issued similar warnings. "If the regulations for 2010 will not change," read a Ferrari statement, "then Ferrari does not intend to enter cars in the next Formula One world championship." (See the 50 worst cars of all time...

Author: /time Magazine | Title: Can Formula One Run Without Ferrari? | 5/15/2009 | See Source »

Despite the breakdown of talks Friday, it's still unlikely that those opposing the cap will need to follow through on their threats to leave when the deadline for entering next season expires on May 29; after all, few sports can rival Formula One for its history of posturing. Ferrari, the only team to have competed since the series began in 1950, threatened in the 1980s to leave for the Indianapolis 500. Drastic proposals by the FIA last year to introduce a standardized engine across all teams - a nonstarter for the likes of Ferrari - quickly looked like scare tactics aimed...

Author: /time Magazine | Title: Can Formula One Run Without Ferrari? | 5/15/2009 | See Source »

Perhaps, but Vargas' lifestyle is hardly the stuff of Chávez's "21st-century socialism." In a rare interview last year, he told the Wall Street Journal, "People write stories about me saying I have a Ferrari, a plane, a yacht. But it's not true. I've got three planes, two yachts, six houses. I've been rich all my life!" In 2004, his daughter Margarita wed Luis Alfonso de Borbón, a cousin of Spain's King Juan Carlos, great-grandson of the late Spanish dictator Francisco Franco and a legitimate heir to the non-existent...

Author: /time Magazine | Title: The Dead Polo Ponies and Their Millionaire Owner | 4/23/2009 | See Source »

...ColorCode. "It doesn't bleed colors out the way the old anaglyph glasses did," says Katzenberg. "But consider this a warm-up for the movie-theater experience, which, honestly, is 100 times higher quality than you could see on TV. This is like a Razor scooter compared to the Ferrari experience of seeing it in a theater...

Author: /time Magazine | Title: Super Bowl Ads: Get Out the 3-D Glasses | 1/30/2009 | See Source »

...live in a pretty simple way. I'm not the type of person who would buy a Ferrari or a very large hat.' ?Ivanka Trump, explaining why she won't be cutting back during the economic downturn...

Author: /time Magazine | Title: Verbatim | 12/2/2008 | See Source »

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