Formula One racing... in Austin?

[Commie Pinko Dirtbag]

:wtf:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x8415341

[christx30]

1. I can't stand racing...

but if they are right about it bringing in $200 billion a year or more to the city, then I am 100% in favor of it. Let's see... an extra 10,000 or more people coming into Austin... needing food and lodging, auto parts, clothing, ect.. That will help the local economy so much.
I might even take my son one night to show him the people that are helping his city.

[sonias]

2. Green sector jobs to follow?

I'm not a racing fan myself either, but there is an interesting technology mix in the pot too.

Austin Business Journal June 4, 2010
Will Formula One Grand Prix track be good for business?
Green sector, tech companies should expect benefits, experts say

If an ambitious plan to bring the Formula One U.S. Grand Prix to Austin materializes despite doubts, the race will have a very significant impact on the local technology scene, while bringing some of the most powerful people in business to the Texas capital.

Two of Austin’s highest-profile business tenants, Freescale Semiconductor Inc. and Advanced Micro Devices Inc., have deep ties to Formula One, as does IBM Inc., which has major Austin-area operations.

Meanwhile, a local developer who showed the grand prix organizers East Austin land in 2008 for a mega complex said Austin race mastermind Tavo Hellmund planned for a mixed-use development that would incorporate clean-tech and high-performance research and development hubs, plus office and hospitality development.

Pete Dwyer, owner and president of Dwyer Realty Cos., said Hellmund told him F1 racing is moving towards electric power in the future, and Hellmund envisioned a master development centered around the track that would hold high-performance battery and fuel cell researchers.

That kind of battery and fuel cell research investment would be a boon to electric car companies.

[sonias]

3. Future F1 site revealed

AAS 7/27/10
Future F1 site revealed
Plot southeast of Austin no longer set for housing.

Organizers of the proposed Austin Formula One auto race plan to build the track on about 900 acres near Elroy in southeastern Travis County, according to one of the major land owners involved.

The organizers have called a news conference for 10 a.m. today to announce the site, a key financial backer and other details . The press event will include Tavo Hellmund, who has been working for more than two years to bring the high-profile race to Austin.

Most of the land was previously planned for a residential subdivision called Wandering Creek. It is land with rolling hills and a small lake, north of FM 812, south and west of Elroy Road and east of Texas 130.

[cfsteak]

4. Would be great

I'm a casual F1 fan,
Will it happen ?
First this is NASCAR on steroids at the international level
it's also business at it's ugliest, but we in Texas know all about that

The boss of F1 Bernie Ecclestone comes off as a extortionist,
drawing out countries and tracks playing them off each other while squeezing every possible penny so the promoters are gambling to be viable and countries (state in our case) get taken for a ride, so until every i is dotted t is crossed and a race with 10 year contract happens I'm skeptical
thats why I'm weary of a 2012 race, is the start date in the contract if so beware of the weasel

The upside if it happens are the massive week of race receipts for Austin
plus it's a great event to show off Austin and Texas to the world

On the technology level it would really be worthwhile if a F1 team located in Austin
Teams have 100s of workers that don't show up to the races that do research, build cars and during races feed scenarios from car telemetry back to the team at the track

From Wiki
It is estimated the major teams spend between €100 and €200 million ($125–$250 million) per year per manufacturer on engines alone

Teams rarely disclose information about their budgets, it is estimated they range from US$66 million to US$400 million each

[Jack_DeLeon]

5. Sweet...

[hobbit709]

6. Looks like Red McCombs is in a little trouble with the IRS

http://www.kvue.com/news/local/IRS-suing-mega-mogul-Red-McCombs-99551739.html

[sonias]

7. No say it isn't so

A high profile Texas Republican donor evading his taxes - doing something unethical. Why I just can't believe it! :sarcasm: