ferrari slowest team in F1 ?

[lebesset]

http://www.pitpass.com/fes_php/pitpass_ ... t_id=40573

having used dun & bradstreet fot many years I have every confidence in them

if the budget figures are anywhere near , what will happen to them if a cap comes into being ?

[multisync]

This is highly amusing considering a certain team (listed as N/A) take well over 100 days to pay

[jon-mullen]

Companies will pay their bills as late as you let them. If anything, this shows that Ferrari has a good enough standing with their suppliers that they don't turn the lights off every time a bill is a day past due. And 16 days on the 60-90 day terms they're probably on isn't really that bad.

[wesley123]

This is highly amusing considering a certain team (listed as N/A) take well over 100 days to pay

That is also well known at FI, they used to pay 90 days late, it is what i read from somehwere.
Also i do not understand why you should do that.

[donskar]

April 20 (Bloomberg) -- Fiat SpA tapped Agnelli family heir John Elkann to become chairman as Italy’s biggest car manufacturer prepares to carve out the auto-making unit.

Fiat today named Elkann, 34, to replace Luca Cordero di Montezemolo in the top position of the Turin-based company. Fiat has revived a plan to spin off the car division, according to two people with knowledge of the matter, who asked not to be identified prior to an announcement.

Just thought this news fit here about as well as anywhere else. I suppose Luca's many haters will greet this news with joy?

[lebesset]

actually the title is just a 'teaser ' !

has nobody noticed that ,apart from mercedes and the new boys , the ferrari budget is taken to be between 2 and 5 times as much as anyone else! AND still £80+ million more than mercedes

with resources like that , surely they should be far and away better than anyone else

what will happen if the FIA limits the budgets ?

[donskar]

actually the title is just a 'teaser ' !

has nobody noticed that ,apart from mercedes and the new boys , the ferrari budget is taken to be between 2 and 5 times as much as anyone else! AND still £80+ million more than mercedes

with resources like that , surely they should be far and away better than anyone else

what will happen if the FIA limits the budgets ?

Ridiculous assertion. "Estimated" and nowhere near the figures published for recent years.

[lebesset]

glad to hear you know so much more from the press than 2 leading experts in the finance industry , dun & bradstreet know a thing or two and formula money review the industry for potential investors and sponsors
~I think I prefer to believe they are nearer the mark than the national enquirer

[Pup]

Let me guess, another bit of drivel from F1's least competent journalist, Chris Sylt? What's he doing now, determining that Ferrari will be out of business in a month based on a drastic fall in the number of key rings sold in the Ferrari gift shop?

NEVER give any worth to Sylit's ramblings. NEVER.

[lebesset]

do you mean he is lying ? this report does not exist ?

[Pup]

I mean he's drawing wild conclusions from an essentially meaningless report, and once again slyly throwing his suspect budget figures in with someone else's to try to make them seem like they've been pulled from anywhere other than his derriere. That's what I mean.

[segedunum]

Anyone who has dealt with Italian companies in particular, knows this is the case. I'm actually suprised as to how fast some teams are paying their bills.

[WhiteBlue]

I agree that the late payment behavior of Ferrari is by no means significant for any conclusion about their financial health or even their budget. Unless a company is debt free it may make good financial sense to pull in some finance by having long payment targets and exceed those as much as feasible to generate interest free vendor credit. Late payment isn't hurting Ferrari as long as they are profitable, which they are. I bet they will quickly reduce their late payment if they encounter a cash flow crisis or need clean ratings to raise capital.

[outer_bongolia]

I am no fan of Ferrari, but those numbers do show a good business mind. Why pay on time when you can pay late with no penalties and invest the money for an extra 16 days and get more in return? Since no one will dare to punish a rich and good customer like Ferrari, they are definitely pushing as far back as possible.

The interesting thing is the fact that McLaren has started paying 12 days sooner than usual. Hmm.. Is their credit rating going down?

[timbo]

Is their credit rating going down?

They probably do need good credit rating going independent.