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...taxes are on the higher side, while in less crowded cantons like Zug (an increasingly popular spot for foreign hedge-fund managers) they can be less than 15%. For good measure, there's the added thrill of being able to call singer Shania Twain, tennis champion Boris Becker and Formula One stars Michael Schumacher and Lewis Hamilton your neighbors...

Author: /time Magazine | Title: Take the Money and Run | 2/6/2008 | See Source »

...certainly wasn't the first time that racist abuse rained down from the stands of a Spanish sports arena. But when spectators at Barcelona's Montmeló track greeted Formula One driver Lewis Hamilton wearing blackface and chanting ugly taunts this past weekend, they may just have provoked an unprecedented official response: sanctions with teeth...

Author: /time Magazine | Title: Sports Racism: The Stain in Spain | 2/5/2008 | See Source »

...outside Spain, some authorities have been unimpressed with that response. The International Automobile Federation, which oversees Formula One, warned that it may impose sanctions against Spain, including possibly removing the country's two Grand Prix races - including one at Montmeló - scheduled for later this year. Calling the events "sickening," British sports minister Gerry Sutcliffe told the BBC that the events "bring in question whether the Grand Prix should be held at this track." He also said that he would be writing to his Spanish counterpart, Jaime Lissavetsky, to express his outrage. "Racism should not be tolerated and this...

Author: /time Magazine | Title: Sports Racism: The Stain in Spain | 2/5/2008 | See Source »

...point. Although Saturday's insults were a new phenomenon for Formula One racing, Spanish soccer has an unfortunate recent history of spectator racism. In 2004, Spanish national team coach Luis Aragonés publicly applied the same "negro de mierda" epithet to Arsenal striker Thierry Henry and Spanish fans bellowed monkey chants at black players in a "friendly" match between Spain and England later that year. FIFA fined the Spanish Football Federation $77,000 on that occasion. In 2006, FC Barcelona's Cameroon-born striker Samuel Eto'o walked off the field in protest after Zaragoza fans repeated the noises...

Author: /time Magazine | Title: Sports Racism: The Stain in Spain | 2/5/2008 | See Source »

...There are signs that the dismissive attitude Ibarra fears is occurring in this case too. Spanish Formula One officials have taken pains to emphasize that only a few among the 55,000-person crowd participated in the insults ("Maybe ten," says a Circuit spokesperson, when asked how many were involved). And online comments left on Spanish websites that have published news of the abuse display a notable lack of concern. "The insults to Mr. Hamilton aren't racist because they aren't insulting him for being black, they insult him for being a Formula One driver [who is] giving...

Author: /time Magazine | Title: Sports Racism: The Stain in Spain | 2/5/2008 | See Source »

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