GPWizard F1 Forum
F1 News & Discussions => General F1 Discussion => Topic started by: Dare on April 15, 2017, 03:25:29 PM
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The more he talks the more t comes apparent the sad
situation on F1 now.Liberty shouldn't allow him any input
in the I hope new era of F1
http://www.autosport.com/news/report.php/id/128981
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Bernie should buy another series as a hobby and just go away.
Considering what he said, perhaps it's just as well and as the new circuits drop off the calendar, there will be more room for the old ones to come back at a more reasonable rate.
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Bernie says he overcharged the venues for the races. Captain Obvious should be proud of him.
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While Liberty are sorting that out they need to look at distribution of funds so that Manor are the last team to go to the wall through lack of funding.
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What gripes me is he acts like it was all for CVC...I'd like
him to explain where his daughter got the cash for her multi-million
mansion.Pure greed for Bernie and clan
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He never says how much CVC stock he owns, but part of the deal with CVC back when gave him stock, sooooo....
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He never says how much CVC stock he owns, but part of the deal with CVC back when gave him stock, sooooo....
American law has settled on the principle that a corporation's overriding legal responsibility is to provide maximum return to shareholders.
This was established in 1919 with Dodge Brothers vs Ford Motor Company https://en.wikipedia.org/wiki/Dodge_v._Ford_Motor_Co. (https://en.wikipedia.org/wiki/Dodge_v._Ford_Motor_Co.)
I don't know what the rules are in the EU, of course, but I imagine something similar must exist.
With that said, Bernie was only ever out for Bernie. He's one of the best at what he does, and by the moral compass of most people, he's scummy.
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He never says how much CVC stock he owns, but part of the deal with CVC back when gave him stock, sooooo....
American law has settled on the principle that a corporation's overriding legal responsibility is to provide maximum return to shareholders.
This was established in 1919 with Dodge Brothers vs Ford Motor Company https://en.wikipedia.org/wiki/Dodge_v._Ford_Motor_Co. (https://en.wikipedia.org/wiki/Dodge_v._Ford_Motor_Co.)
I don't know what the rules are in the EU, of course, but I imagine something similar must exist.
With that said, Bernie was only ever out for Bernie. He's one of the best at what he does, and by the moral compass of most people, he's scummy.
Well he was once a secondhand car dealer!
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He never says how much CVC stock he owns, but part of the deal with CVC back when gave him stock, sooooo....
American law has settled on the principle that a corporation's overriding legal responsibility is to provide maximum return to shareholders.
This was established in 1919 with Dodge Brothers vs Ford Motor Company https://en.wikipedia.org/wiki/Dodge_v._Ford_Motor_Co. (https://en.wikipedia.org/wiki/Dodge_v._Ford_Motor_Co.)
I don't know what the rules are in the EU, of course, but I imagine something similar must exist.
With that said, Bernie was only ever out for Bernie. He's one of the best at what he does, and by the moral compass of most people, he's scummy.
In EU law, there is nothing to require a non-traded company to make any allowance for shareholders unless that has been agreed with said shareholders or some other law makes a specific provision. That said, there is also nothing to require such a company to make any allowance for non-shareholders without such agreement or specific protecting law...
There is a law that publicly-traded EU companies must make their shareholders their #1 priority (like for all US companies), however.
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Essentially, he has confirmed what I already suspected, that he was charging such sky high fees for personal profit. It is totally unacceptable that he got away with doing this, along with a whole bunch of other excessive profiteering. It's one huge corruption scandal.