Did Bernie lie?

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xpensive
xpensive
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Re: Did Bernie lie?

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"At 31, Horner became the youngest....and has since formed a close friendship with Ecclestone."

Oh, that xplains a thing or two, doesn't it?
"I spent most of my money on wine and women...I wasted the rest"

Manoah2u
Manoah2u
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Re: Did Bernie lie?

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xpensive wrote:"At 31, Horner became the youngest....and has since formed a close friendship with Ecclestone."

Oh, that xplains a thing or two, doesn't it?
lol.
"Explain the ending to F1 in football terms"
"Hamilton was beating Verstappen 7-0, then the ref decided F%$& rules, next goal wins
while also sending off 4 Hamilton players to make it more interesting"

Richard
Richard
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Re: Did Bernie lie?

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I see the German courts have decided to charge Bernie ... http://www.bbc.co.uk/news/world-europe-25756973

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Kiril Varbanov
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Re: Did Bernie lie?

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Interesting times!

Two possible outcomes (and that's no brainer):
1. Bernie gets the boot - the corporate world doesn't really like to be linked to convicted criminals
2. Bernie stays - as there will be chaos, and "ordo ab chao" is his specialty.

Let's see, I've already emailed CVC, but I don't expect answer, as opposed to three sentence media press release...

EDIT: I hate headlines, unless they are headlines, but we may be facing Bernie-down situation. He is indeed stepping down as director, while the parent company will continue with increased monitoring.
More to follow.

https://twitter.com/MarkKleinmanSky/sta ... 0031551488

Richard
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Re: Did Bernie lie?

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I read this as PR management, I expect that Bernie will continue to control everything as before. What will be telling is if stops attending races and stops his provocative comments.

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WhiteBlue
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Re: Did Bernie lie?

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phillippe wrote:While CVC may be a controlling shareholder, in ventures of these kinds, it is highly unlikely that the minority shareholder (Bernie) would not have affirmative voting rights over an extensive set of matters, including over his own appointment or removal as CEO. Affirmative voting rights mean that despite having majority voting power, decisions in respect of those matters over which the minority shareholder has affirmative voting rights, cannot be taken without the consent of the minority shareholder. Given Bernie's track record, it is inconceivable that he got into bed with CVC without these super blue pills. So, it is highly unlikely that Bernie will go at least on account of pressure from CVC or its investors.
Those who predicted that CVC will not bow to the pressure of a criminal investigation have been wrong. Bernie has been forced to step down from the board, his deals will all be subject to confirmation and approval by the remaining board members from CVC. If he is found guilty of bribery as I expect he will be formally dismissed by CVC. At least that was promised by his boss in the last trial at the high court. This is the beginning of the end of Bernie IMHO. =D> 8) :lol:
Formula One's fundamental ethos is about success coming to those with the most ingenious engineering and best .............................. organization, not to those with the biggest budget. (Dave Richards)

Manoah2u
Manoah2u
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Re: Did Bernie lie?

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wait wait, let's not get too exited shall we?
Bernie Ecclestone has stepped down from his position at Delta Topco
following an indictment on bribery charges in Germany.

Despite stepping down, Ecclestone will still run day-to-day operations.
As Delta Topco explained, "The Board believes that it is in the best interests
of both the F1 business and the sport that Mr Ecclestone should continue to
run the business.
" However, we will be "subject to increased monitoring
and control by the Board."
http://www.worldcarfans.com/11401166885 ... ry-charges
The Formula One Group is owned ultimately by Delta Topco, a Jersey-based company owned by CVC
Capital Partners' funds (approximately 70%) and JPMorgan (approximately 20%). Delta Topco owns
other Formula One businesses which are referred to in the same way. Delta Topco Limited is the
holding company of the Formula One group. The Formula One Group companies are subsidiaries
of Formula One Holdings (FOH), Itself a subsidiary of SLEC Holdings
(SLavica ECclestone, Bernie's ex wife)

It is worth noting that until recently the shareholdings in Delta Topco Ltd (Jersey) were as follows:

* Five CVC funds collectively own 63.3 percent of the business;
* LBI Group Inc (a Lehman Brothers company) owns 15.3 percent;
* Bambino Holdings (an Ecclestone Family company) owns 8.5 percent;
* Bernie Ecclestone owns 5.3 percent;
* JP Morgan Whitefriars Inc owns 3 percent;
* Churchill Capital Ltd owns 0.7 percent;
http://www.formula1-dictionary.net/admin_force.html

Bernie may 'step down' but he isn't gone at all. as a CEO, he [atleast temporarily] steps down from his current 'position'.
So he'll no longer be officially CEO of the company. It's really easy to assign a 'new' or temporal CEO that has a contractual
agreement that any decision will be made in accordance and with consent of Bernie Ecclestone........
"Explain the ending to F1 in football terms"
"Hamilton was beating Verstappen 7-0, then the ref decided F%$& rules, next goal wins
while also sending off 4 Hamilton players to make it more interesting"

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MOWOG
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Re: Did Bernie lie?

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It's really easy to assign a 'new' or temporal CEO
Yup. Didn't Vladimir Putin do something similar a while back? Although he is not as powerful as Bernie...... :?
Some men go crazy; some men go slow. Some men go just where they want; some men never go.

Manoah2u
Manoah2u
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Re: Did Bernie lie?

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exactly, and when the wind is gone and you are 'able' to step back aboard, then it's something like "hey guys, you know i've never been away, and nothing ever changed, but i'm back, well, there's a title in front of my name again. don't let that fool you, i scr*wed you guys when i had the title, continued to scr*w you guys when the title was stripped, and now i've got it back, i'll scr*w you as i've always have."
well, in any case, bernie doesn't have eternal life [thankfully] so it's safe to say at a certain point it'll end either way.
if it'll be better? who knows. people cheered mosley leaving the field, but what has todt done, really? or better said;
did todt bring anything meaningful or improving to the sport? doesn't really look like it.......
so same probably can be said for bernie......

surely things will end up with some twist where bernie won't be charged in the end or charges are dropped or there will
not be a verdict. and it's back to the CEO again......
"Explain the ending to F1 in football terms"
"Hamilton was beating Verstappen 7-0, then the ref decided F%$& rules, next goal wins
while also sending off 4 Hamilton players to make it more interesting"

GrandAxe
GrandAxe
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Re: Did Bernie lie?

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adrianjordan wrote:Let's inject some humour into this thread...

http://www.youtube.com/watch?v=Ahg90HABOy4
Yeah, F1's found Bernies replacement, its just as small, obnoxious and scary!!!!!!!!

[youtube]http://www.youtube.com/watch?v=PUKMUZ4tlJg[/youtube]

Blanchimont
Blanchimont
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Re: Did Bernie lie?

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Some bits from an interview of Bernie with German newspaper Handelsblatt( http://www.handelsblatt.com/unternehmen ... 39358.html ).

Handelsblatt: Will you step down, if you lose the topical trial in London against Constantin Medien?
Bernie: Why should i? That's not neccessary. Constantin Medien want compensation, if they win they'll get the money.

H: Will you really appear at the trial in Munich?
B: I think i have to, probably i've got no other choice. BTW, I like Munich, it's a really nice city.
Dear FIA, if you read this, please pm me for a redesign of the Technical Regulations to avoid finger nose shapes for 2016! :-)

Manoah2u
Manoah2u
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Re: Did Bernie lie?

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Blanchimont wrote:Some bits from an interview of Bernie with German newspaper Handelsblatt( http://www.handelsblatt.com/unternehmen ... 39358.html ).

Handelsblatt: Will you step down, if you lose the topical trial in London against Constantin Medien?
Bernie: Why should i? That's not neccessary. Constantin Medien want compensation, if they win they'll get the money.

H: Will you really appear at the trial in Munich?
B: I think i have to, probably i've got no other choice. BTW, I like Munich, it's a really nice city.
hahahaha good ol' bernie. you old fox. he has his humor tho.
it's these things that he's mastered so well. he would have been a perfect politician.
he'll come out of this without a scratch whatsoever. he could very well end up dragging constantin medien in court
for damage to public image and sue them for millions and millions, and he'd win it easy.
"Explain the ending to F1 in football terms"
"Hamilton was beating Verstappen 7-0, then the ref decided F%$& rules, next goal wins
while also sending off 4 Hamilton players to make it more interesting"

Richard
Richard
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Location: UK

Re: Did Bernie lie?

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So the judge in London concluded that Bernie did pay a bribe, the sale of F1 was a corrupt deal, and it was impossible to regard him as a reliable or truthful witness.

Unfortunately Constantin Medien has not proven financial losses caused by Bernie's bribe so they didn't win the case.

http://www.bbc.co.uk/news/uk-26273031

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WhiteBlue
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Re: Did Bernie lie?

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It looks bleak for the trial in Germany. Bernie has been kicked out of all his director positions in the formula one group according to documents from company house seen by Joe Saward, according to his blog. Bernie is indicted and has to stand trial before the same judge who called his behavior criminal in the trial against Griebkowski. Now a UK high court judge confirms the view of the legal system that Bernie is indeed guilty of bribing officials in order to steer the sale of the TV rights towards CVC who had a cozy deal with him to keep him in power. My prediction is that we will see Bernie fall from grace before the season is over and he will be done with F1.
Formula One's fundamental ethos is about success coming to those with the most ingenious engineering and best .............................. organization, not to those with the biggest budget. (Dave Richards)

autogyro
autogyro
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Re: Did Bernie lie?

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WhiteBlue wrote:It looks bleak for the trial in Germany. Bernie has been kicked out of all his director positions in the formula one group according to documents from company house seen by Joe Saward, according to his blog. Bernie is indicted and has to stand trial before the same judge who called his behavior criminal in the trial against Griebkowski. Now a UK high court judge confirms the view of the legal system that Bernie is indeed guilty of bribing officials in order to steer the sale of the TV rights towards CVC who had a cozy deal with him to keep him in power. My prediction is that we will see Bernie fall from grace before the season is over and he will be done with F1.
I am not so sure that Bernie will be out unless he goes to prison of course.
CVC can see F1's decline without Bernie and they will want to keep him as long as possible.
World opinion is slowly changing against the concept of F1 and the environmental issues it fails to properly address.
Formula E starts at the end of 2014 and the progress of this formula will have an increasing effect on the future of F1 as time goes by.
Expect to see sponsors jump ship in F1 and go over to FE as public interest increases in the new 'clean' formula.
Already many important drivers are showing an interest.
I think Bernie will leave F1 only when he is fully convinced that F1 is on the way out.
As to the thread title.
Did Bernie lie? Perleeease the man has made everyone else live a lie for decades.