Word: formula
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...company, which designs and manufactures hi-tech gearboxes for racing cars, now occupies a sleek, 88,000 sq. ft. (8,200 sq m), purpose-built site in Berkshire, a one-hour drive west of London. Xtrac sells its lightweight, high-strength components to the majority of teams competing in Formula One, motor racing's blue-ribbon championship. But the road ahead suddenly seems a lot bumpier. With Formula One teams racing to cut costs amid the economic downturn, Xtrac is selling fewer gearbox parts this year. Cushioned by its interests outside Formula One, Xtrac's future is hardly threatened...
Eager to stop more teams quitting the sport, and keen to make races far more competitive, international motor-racing bosses have instituted a slew of changes to Formula One for the 2009 season. The overhaul, agreed to by the teams in December, is designed to cut costs in the fantastically expensive sport by at least 30%. The drivers and cars that pull away in the opening Grand Prix in Australia on March 29 will have to make do with fewer engines to get them through the season, cope with a lower limit on engine revs and learn how to handle...
...Formula One had little option but to trim costs. The sport's leading teams last year had annual budgets of $400 million or more. The huge gap back to the other teams not only created a predictable title fight between just three or four drivers but has forced teams out. Worried by the slump in the global auto market, Japanese carmaker Honda, which spent $350 million in 2008, cut its ties in December. (The team has been bought out by former boss Ross Brawn and will now compete as Brawn...
...that means big shifts for the global industry behind Formula One, and especially for the 3,500 firms specializing in high-performance engineering in England's Motorsport Valley. About a third of those companies, which craft everything from engines for rally cars to brakes for NASCAR racers, service the half-dozen Formula One teams based in the area. "While they play the Marseillaise when Renault win" a Grand Prix, says Aylett, much of the French-owned team's work is "actually done in Oxfordshire...
...Harvard artists. When asked about the selection criteria, Breeden said, “We’re going to be looking at the quality of the work and its size but also its sell-ability.” She later stressed that, ultimately, there will be no stringent formula. Breeden herself plans to submit to the show; however, she is quick to laughingly affirm that she will not be on the committee who decides the fate of her pieces. Students will be able to submit work through March 30, the first day back after spring break. Wang and Spies-Gans...