Venezuela Freezes all Sponsorships

The place for speaking your mind on current goings-on in F1
User avatar
Onxy Wrecked
Posts: 1762
Joined: 11 Dec 2012, 03:23
Location: Dodging Potholes and Snowshowers

Re: Venezuela Freezes all Sponsorships

Post by Onxy Wrecked »

watka wrote:
Onxy Wrecked wrote:So who will replace the Pastor?


http://www.youtube.com/watch?v=H8PC1_3fjvs

Image


One for Cynon :D

Mike Skinner, I know of him as one of the best NASCAR drivers to have never won a race given how he drove the #31 for Richard Childress in what is now the Sprint Cup of NASCAR. Bad luck everywhere for Skinner with mechanical failures seeming to sprout whenever he was leading or near it.
More Moneytron, more problems for Onyx!
A flock of Kroghs appear on the NASCAR Track and cause caw-tions!
User avatar
DOSBoot
Posts: 1638
Joined: 26 Dec 2010, 19:09
Location: Pensacola, Florida. United States.

Re: Venezuela Freezes all Sponsorships

Post by DOSBoot »

dr-baker wrote:
Onxy Wrecked wrote:So who will replace the Pastor?

Image


http://www.youtube.com/watch?v=9o19CaOSuD8
Proud supporter of the United States 2nd Amendment.

2012 Predicament Predictions Champion.
User avatar
Wallio
Site Donor
Site Donor
Posts: 2696
Joined: 22 Feb 2012, 22:54
Location: The Wyoming Valley, PA

Re: Venezuela Freezes all Sponsorships

Post by Wallio »

Oh course the real question is, who was signing all those bad checks. A female racing driver sponsored by PDVSA. Hmmmmm could it have been Milka?
Professional Historian/Semi-Retired Drag Racer/Whiskey Enthusiast

"When I was still racing, I never once thought 'Oh, I can't damage the car here'." - Jolyn Palmer
Me either Jolyn, maybe that's why we're both out, eh?
User avatar
Jocke1
Posts: 2607
Joined: 31 Dec 2010, 00:13

Re: Venezuela Freezes all Sponsorships

Post by Jocke1 »

Wallio wrote:Oh course the real question is, who was signing all those bad checks. A female racing driver sponsored by PDVSA. Hmmmmm could it have been Milka?

Could she have been Milking them for money all along? :o
-*:-
User avatar
Chives5150
Posts: 43
Joined: 12 Nov 2012, 05:01
Location: Texas
Contact:

Re: Venezuela Freezes all Sponsorships

Post by Chives5150 »

A moment of silence for our fallen and beloved pay-drivers and moving chicanes.
Murray Walker wrote:I don't make mistakes. I make prophecies which immediately turn out to be wrong.
James Whistler wrote:Had silicon been a gas, I would have been a major general.
User avatar
Yannick
Posts: 1459
Joined: 29 Mar 2009, 17:53

Re: Venezuela Freezes all Sponsorships

Post by Yannick »

The most interesting thing about this Venezolan Sponsorship Fraud scandal is who actually did it.
"I don't think we should be used to finance (the manufacturers') R&D because they will produce that engine anyway" said Monisha Kaltenborn.
"You will never see a Mercedes using a Ferrari engine or the other way round."
User avatar
Ferrarist
Posts: 1304
Joined: 29 Mar 2010, 17:08
Location: Germany

Re: Venezuela Freezes all Sponsorships

Post by Ferrarist »

So someone "stole" 66 million $ from the Venezuelian government? :shock:

Some evidence points to drivers that competed in endurance series, like Grand-AM, ALMS or the Blancpain Endurance Series. But endurance racing doesn't cost exorbitant amounts of money. I also don't understand why this affected drivers like Viso or Maldonado. I know that PDVSA is owned by the Venezuelian state, but there's still a difference between an oil company and a ministry.

In any case, ripping of a damn government to compete in auto racing is one of the ballsiest moves I've ever heard of. :mrgreen:
MIA SAN MIA!
User avatar
Ferrim
Posts: 1925
Joined: 01 Apr 2009, 21:45

Re: Venezuela Freezes all Sponsorships

Post by Ferrim »

Ferrarist wrote:So someone "stole" 66 million $ from the Venezuelian government? :shock:

Some evidence points to drivers that competed in endurance series, like Grand-AM, ALMS or the Blancpain Endurance Series. But endurance racing doesn't cost exorbitant amounts of money. I also don't understand why this affected drivers like Viso or Maldonado. I know that PDVSA is owned by the Venezuelian state, but there's still a difference between an oil company and a ministry.


Well, in this particular country, the state is becoming intertwined with the economy, so it wouldn't be so surprising. But I believe this has nothing to do with PDVSA but with the government's capital controls. The state controls the trading of foreign money, particularly dollars, which the Venezuelan currency is pegged to (at a rate that has become ridiculously underrated because of inflation, and it's creating lots of distortions, but that's a different matter). Therefore, in order to purchase dollars one has to receive an authorization from the government, and it seems that someone falsified signatures in order to obtain these authorizations.

I find incredibly hard to believe that $66 million could be purchased in this way, I mean, what kind of controlling structure do they have in the state agency that misses such an amount of money? But who knows...
Go home, Bernie Ecclestone!

"There will be no other victory this year, I can tell you, more welcomed than this one" Bob Varsha, 1995 Canadian GP

F1 Rejects Forums – going off-topic since 2009!
User avatar
Ataxia
Not Important
Posts: 6872
Joined: 23 Jun 2010, 12:47
Location: Sneed's Feed & Seed (formerly Chuck's)
Contact:

Re: Venezuela Freezes all Sponsorships

Post by Ataxia »

Jocke1 wrote:
Wallio wrote:Oh course the real question is, who was signing all those bad checks. A female racing driver sponsored by PDVSA. Hmmmmm could it have been Milka?

Could she have been Milking them for money all along? :o


Why on earth have you got Zak Dingle as your avatar? I wasn't aware you were a fan of northern soaps...
Mitch Hedberg wrote:I want to be a race car passenger: just a guy who bugs the driver. Say man, can I turn on the radio? You should slow down. Why do we gotta keep going in circles? Man, you really like Tide...
User avatar
CoopsII
Posts: 4698
Joined: 15 Dec 2011, 09:33
Location: Starkiller Base Debris

Re: Venezuela Freezes all Sponsorships

Post by CoopsII »

Ataxia wrote:
Jocke1 wrote:
Wallio wrote:Oh course the real question is, who was signing all those bad checks. A female racing driver sponsored by PDVSA. Hmmmmm could it have been Milka?

Could she have been Milking them for money all along? :o


Why on earth have you got Zak Dingle as your avatar? I wasn't aware you were a fan of northern soaps...

Could it be Zack Dingle -> Zacspeed?
Just For One Day...
User avatar
mario
Posts: 8267
Joined: 31 Oct 2009, 17:13

Re: Venezuela Freezes all Sponsorships

Post by mario »

Ferrim wrote:
Ferrarist wrote:So someone "stole" 66 million $ from the Venezuelian government? :shock:

Some evidence points to drivers that competed in endurance series, like Grand-AM, ALMS or the Blancpain Endurance Series. But endurance racing doesn't cost exorbitant amounts of money. I also don't understand why this affected drivers like Viso or Maldonado. I know that PDVSA is owned by the Venezuelian state, but there's still a difference between an oil company and a ministry.


Well, in this particular country, the state is becoming intertwined with the economy, so it wouldn't be so surprising. But I believe this has nothing to do with PDVSA but with the government's capital controls. The state controls the trading of foreign money, particularly dollars, which the Venezuelan currency is pegged to (at a rate that has become ridiculously underrated because of inflation, and it's creating lots of distortions, but that's a different matter). Therefore, in order to purchase dollars one has to receive an authorization from the government, and it seems that someone falsified signatures in order to obtain these authorizations.

I find incredibly hard to believe that $66 million could be purchased in this way, I mean, what kind of controlling structure do they have in the state agency that misses such an amount of money? But who knows...

It is possible that the funds could have been passed through a special trust known as Fonden - it was a trust set up by Chavez and answerable only to Chavez (i.e. with no independent oversight from the Venezuelan Congress) though which, according to Reuters, around 25% of the entire oil revenue of Venezuela was channelled through (around $100 billion in the seven year period from 2005 to 2012). http://uk.reuters.com/article/2012/09/2 ... N020120926
Given that Chavez was fond of using Fonden to fund personal projects, it is plausible that the funds could have been cycled through that organisation as a way of bypassing the Venezuelan Congress (and also leaving it open to abuse).
Martin Brundle, on watching a replay of Grosjean spinning:
"The problem with Grosjean is that he want to take a look back at the corner he's just exited"
User avatar
Onxy Wrecked
Posts: 1762
Joined: 11 Dec 2012, 03:23
Location: Dodging Potholes and Snowshowers

Re: Venezuela Freezes all Sponsorships

Post by Onxy Wrecked »

CoopsII wrote:
dr-baker wrote:
CoopsII wrote:I think they should stick Wolff in the car for next year for a few reasons. Firstly, one way or another it will stop her annoying me by being the current token-female-driver-vying-for-an-F1 drive. Secondly, she wont need paying. Thirdly, she may end up doing OK, stranger things have happened. Fourthly, like it or not, she will earn Williams press coverage just by turning up. Lastly, irrespective of the many other drivers who 'deserve a seat', its unlikely whoever they employ will be troubling the podium next season so what the hell?

And sixthly (Because your lastly was a fifthly), it would please the hell outta me!

I do think people are being kinda sexist when they declare how Wolff has no place in F1, unless they are equally vehement against every other male driver who lucks into a seat for arguably the wrong reasons, which they generally don't. In terms of ability based on her career so far I'd agree she hasnt done enough to justify a race-seat but that many other male drivers have got a seat with a similar or worse career history.

It's about the fact she hasn't been in open-wheel cars in nearly eight years in a race. Ana Beatrix, Simona de Silvestro, and Danica Patrick are more fit for F1 service at this point.
More Moneytron, more problems for Onyx!
A flock of Kroghs appear on the NASCAR Track and cause caw-tions!
User avatar
RonDenisDeletraz
Posts: 7380
Joined: 27 Oct 2011, 08:21
Location: Flight 643
Contact:

Re: Venezuela Freezes all Sponsorships

Post by RonDenisDeletraz »

This is not sexist, Susie Wolff just doesn't and never will deserve a F1 drive. I just can't think of a similarly unqualified male driver near F1 at the moment
aerond wrote:Yes RDD, but we always knew you never had any sort of taste either :P

tommykl wrote:I have a shite car and meme sponsors, but Corrado Fabi will carry me to the promised land with the power of Lionel Richie.
User avatar
CoopsII
Posts: 4698
Joined: 15 Dec 2011, 09:33
Location: Starkiller Base Debris

Re: Venezuela Freezes all Sponsorships

Post by CoopsII »

eurobrun wrote:This is not sexist, Susie Wolff just doesn't and never will deserve a F1 drive. I just can't think of a similarly unqualified male driver near F1 at the moment

Well thankfully for the sake of peace Wolffs name is about the only one that isnt linked with Williams for next year. I do believe sexism rears its ugly head whenver a woman gets near F1 though, you only have to look at the strength of feeling. A strength of feeling that never seems equalled when some useless paydriver gets a gig.
Just For One Day...
User avatar
pi314159
Posts: 3664
Joined: 11 Aug 2012, 12:12

Re: Venezuela Freezes all Sponsorships

Post by pi314159 »

eurobrun wrote:This is not sexist, Susie Wolff just doesn't and never will deserve a F1 drive. I just can't think of a similarly unqualified male driver near F1 at the moment

What about Rodolfo Gonzalez? 2.5 seconds behind Chilton is quite an achievement. Judging from her performance at the Silverstone test, Woff is better. However, if Venezuela has indeed fronzen all sponsorship, I doubt he will remain Marussia test driver.
pasta_maldonado wrote:The stewards have recommended that Alan Jones learns to drive.
User avatar
RonDenisDeletraz
Posts: 7380
Joined: 27 Oct 2011, 08:21
Location: Flight 643
Contact:

Re: Venezuela Freezes all Sponsorships

Post by RonDenisDeletraz »

CoopsII wrote:
eurobrun wrote:This is not sexist, Susie Wolff just doesn't and never will deserve a F1 drive. I just can't think of a similarly unqualified male driver near F1 at the moment

Well thankfully for the sake of peace Wolffs name is about the only one that isnt linked with Williams for next year. I do believe sexism rears its ugly head whenver a woman gets near F1 though, you only have to look at the strength of feeling. A strength of feeling that never seems equalled when some useless paydriver gets a gig.


If a female driver that has enough talent gets into F1 then that would be great for the sport. I for example would love to see Simona de Silvestro get a F1 test

pi314159 wrote:
eurobrun wrote:This is not sexist, Susie Wolff just doesn't and never will deserve a F1 drive. I just can't think of a similarly unqualified male driver near F1 at the moment

What about Rodolfo Gonzalez? 2.5 seconds behind Chilton is quite an achievement. Judging from her performance at the Silverstone test, Woff is better.

Gonzales is pretty crap, but at least he does have GP2 experience. He still doesn't deserve an F1 seat at all.
aerond wrote:Yes RDD, but we always knew you never had any sort of taste either :P

tommykl wrote:I have a shite car and meme sponsors, but Corrado Fabi will carry me to the promised land with the power of Lionel Richie.
User avatar
TomWazzleshaw
Posts: 14370
Joined: 01 Apr 2009, 04:42
Location: Curva do lel
Contact:

Re: Venezuela Freezes all Sponsorships

Post by TomWazzleshaw »

pi314159 wrote:
eurobrun wrote:This is not sexist, Susie Wolff just doesn't and never will deserve a F1 drive. I just can't think of a similarly unqualified male driver near F1 at the moment

What about Rodolfo Gonzalez? 2.5 seconds behind Chilton is quite an achievement. Judging from her performance at the Silverstone test, Woff is better. However, if Venezuela has indeed fronzen all sponsorship, I doubt he will remain Marussia test driver.


Oh god. Rodolfo was so slow in Korea that he would have the first person that was not in a HRT to legitimately miss the 107% cut since the rule was brought back in. If that's not reason enough to give him an F1 drive, I don't know what is :lol:
Biscione wrote:"Some Turkemenistani gulag repurposed for residential use" is the best way yet I've heard to describe North / East Glasgow.
Alextrax52
Posts: 2986
Joined: 17 Apr 2013, 20:06
Location: Bromborough near Liverpool

Re: Venezuela Freezes all Sponsorships

Post by Alextrax52 »

Wizzie wrote:
pi314159 wrote:
eurobrun wrote:This is not sexist, Susie Wolff just doesn't and never will deserve a F1 drive. I just can't think of a similarly unqualified male driver near F1 at the moment

What about Rodolfo Gonzalez? 2.5 seconds behind Chilton is quite an achievement. Judging from her performance at the Silverstone test, Woff is better. However, if Venezuela has indeed fronzen all sponsorship, I doubt he will remain Marussia test driver.


Oh god. Rodolfo was so slow in Korea that he would have the first person that was not in a HRT to legitimately miss the 107% cut since the rule was brought back in. If that's not reason enough to give him an F1 drive, I don't know what is :lol:


Why did they choose him to be the reserve driver? There are so much better choices in my view so why did they choose him?
User avatar
Ataxia
Not Important
Posts: 6872
Joined: 23 Jun 2010, 12:47
Location: Sneed's Feed & Seed (formerly Chuck's)
Contact:

Re: Venezuela Freezes all Sponsorships

Post by Ataxia »

Freeze-O-Kimi wrote:
Wizzie wrote:
pi314159 wrote:What about Rodolfo Gonzalez? 2.5 seconds behind Chilton is quite an achievement. Judging from her performance at the Silverstone test, Woff is better. However, if Venezuela has indeed fronzen all sponsorship, I doubt he will remain Marussia test driver.


Oh god. Rodolfo was so slow in Korea that he would have the first person that was not in a HRT to legitimately miss the 107% cut since the rule was brought back in. If that's not reason enough to give him an F1 drive, I don't know what is :lol:


Why did they choose him to be the reserve driver? There are so much better choices in my view so why did they choose him?


Because PDVSA.
Mitch Hedberg wrote:I want to be a race car passenger: just a guy who bugs the driver. Say man, can I turn on the radio? You should slow down. Why do we gotta keep going in circles? Man, you really like Tide...
User avatar
good_Ralf
Posts: 2681
Joined: 06 Jun 2013, 13:14
Location: Hitchin, UK

Re: Venezuela Freezes all Sponsorships

Post by good_Ralf »

Ataxia wrote:
Freeze-O-Kimi wrote:Why did they choose him to be the reserve driver? There are so much better choices in my view so why did they choose him?


Because PDVSA.


I saw a photo of a Marussia and it had PDVSA stickers. Really any F1 driver from Venezuela will be (was?) sponsored by the big oil company. Does Johnny Cecotto Jr. have PDVSA sponsorship?
Check out the position of the sun on 2 August at 20:08 in my garden

Allard Kalff in 1994 wrote:OH!! Schumacher in the wall! Right in front of us, Michael Schumacher is in the wall! He's hit the pitwall, he c... Ah, it's Jos Verstappen.
User avatar
Bleu
Posts: 3418
Joined: 29 Mar 2009, 17:38

Re: Venezuela Freezes all Sponsorships

Post by Bleu »

good_Ralf wrote:
Ataxia wrote:
Freeze-O-Kimi wrote:Why did they choose him to be the reserve driver? There are so much better choices in my view so why did they choose him?


Because PDVSA.


I saw a photo of a Marussia and it had PDVSA stickers. Really any F1 driver from Venezuela will be (was?) sponsored by the big oil company. Does Johnny Cecotto Jr. have PDVSA sponsorship?


At least on his driving overall there isn't any sign of PDVSA. However there is Venezuela text so he has local backing anyway.

Image
Rusujuur
Posts: 129
Joined: 23 Mar 2012, 17:55
Location: Tallinn, Estonia

Re: Venezuela Freezes all Sponsorships

Post by Rusujuur »

Williams - the retirement home for Brazilian Ferrari number twos...
User avatar
Jocke1
Posts: 2607
Joined: 31 Dec 2010, 00:13

Re: Venezuela Freezes all Sponsorships

Post by Jocke1 »

Wallio wrote:Oh course the real question is, who was signing all those bad checks. A female racing driver sponsored by PDVSA. Hmmmmm could it have been Milka?

Jocke1 wrote:Could she have been Milking them for money all along? :o

Ataxia wrote:Why on earth have you got Zak Dingle as your avatar? I wasn't aware you were a fan of northern soaps...

Zak is great. And yes, I have watched hundreds of episodes of Emmerdale since 2004-ish. Thing is, every day they air 2 episodes during lunch hours.
And if a tv is on at work, everyone will sit around watching Emmerdale. If you've never watched it and stay for just 5 minutes, that's it. It's like a black hole, it sucks you in.
-*:-
User avatar
Backmarker
Posts: 1126
Joined: 19 Mar 2012, 17:59

Re: Venezuela Freezes all Sponsorships

Post by Backmarker »

Rusujuur wrote:Williams - the retirement home for Brazilian Ferrari number twos...


100% of Brazilian Ferrari drivers go on to drive for Williams. Williams eagerly await Ferrari's next Brazilian driver.
The Iceman Waiteth
What if Kimi Räikkönen hadn't got his chance in 2001?
Post Reply