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...Brazilian Grand Prix, the final race of the year. In just his second season in Formula One, 23-year-old Briton Lewis Hamilton became its youngest ever world champion, sensationally grabbing fifth place on the last corner of the Interlagos track in São Paulo to claim motor sport's premier prize by a single point from hometown hero and Ferrari star Felipe Massa. Italian Giancarlo Fisichella was less fortunate. Fisichella, 35, and in his thirteenth year in Formula One, was the last driver to finish, and ended the season without a single point...

Author: /time Magazine | Title: Formula One: Cutting Corners | 11/6/2008 | See Source »

...separating drivers: money. McLaren, for which Hamilton drives, lavished an estimated $430 million on its campaign, according to industry analysts Formula Money - a sum typical of big teams but two to three times the outlay of independent teams such as Fisichella's Force India. In such a high-tech sport, those with the deepest pockets tend to end up on top. (Read "How to Win a NASCAR Race...

Author: /time Magazine | Title: Formula One: Cutting Corners | 11/6/2008 | See Source »

...organizers' efforts to make racing more competitive. The current setup, with big teams depending on "massive handouts from their parent companies" and small independent teams relying on "the goodwill of rich individuals," is "unsustainable," according to a memo given to teams in October by the FIA, world motor sport's governing body. The FIA's answer: Slash the cost of competing...

Author: /time Magazine | Title: Formula One: Cutting Corners | 11/6/2008 | See Source »

...rules allow for up to 12 teams, with each running two cars. But escalating budgets have forced smaller teams to quit in recent years. When U.K.-based Super Aguri pulled out last May, it left just 10 teams on the grid. If more quit, the FIA worries, the sport could cease to be credible. "All teams realize that losing another [team] would do great damage to Formula One overall," says a leading adviser to several teams and manufacturers. Says Christian Horner, team principal at Red Bull Racing, an independent team whose best-placed driver finished 11th in this year...

Author: /time Magazine | Title: Formula One: Cutting Corners | 11/6/2008 | See Source »

...cost the GOP ticket more than she helped it. In that poll, 59% said they didn't think she was qualified to be Vice President - a view shared by many mandarins of the GOP. But the enthusiasm she briefly generated made gaming Palin's next move a popular sport. Will she join the big-money speaker's circuit? Become, as Tina Fey joked, the "white Oprah"? Run for Senate? Run for President in 2012 as the new face of a reinvented Republican Party...

Author: /time Magazine | Title: How Far Will Sarah Palin Go? | 11/5/2008 | See Source »

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