Word: spent
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...question is, will they keep coming? Last year, advertisers, fans, teams and media spent $4.6 billion on F1's festival of fossil fuel. Six hundred million people around the world watched some part of the season on television. That's why companies such as Korean electronics conglomerate LG Group are prepared to lay out "several hundred million dollars" to have their logo plastered all over F1, says Andrew Barrett, the company's VP of global sponsorship, who recently inked such a deal. "We were looking for as broad a global reach as we could get with one sport, and nothing...
...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...
...rburgring (a new, shorter version has been used since the 1980s) is not on this year's F1 schedule. Yas Island in Abu Dhabi is. The gulf state has spent $1 billion on the new track and $39 billion on the outlandish infrastructure surrounding it, including hotels, golf courses and Ferrari World, billed as the world's largest indoor theme park. Here you can experience the g-forces of an F1 racer firsthand on a roller coaster that reaches speeds of 124m.p.h. (200 km/h). The roller coaster may be more thrilling than the race itself. New tracks like Yas Island...
...patriotic American disappointed with our government. I ran to support the Tea Party until Sarah Palin stepped forward. I am frustrated with Congress and baffled about how money is spent without any regard for accountability. I hope the Tea Party listens to the people and succeeds in holding our government accountable...
...idea that his rival's grooming habits would become an issue. Last week on Fox News, Crist blasted his surging opponent in the August Republican primary election, former Florida house speaker Marco Rubio, for having used a GOP-issued American Express card for personal purchases, including $133.75 spent at a deluxe Miami barbershop. Rubio is "trying to pawn himself off as a fiscal conservative," Crist said. "And yet he had a Republican Party of Florida credit card [and] he charged $130 for a haircut, or maybe it was a back wax. We are not sure what...