Saturday, March 12, 2011

Australian F1 GP: yet another balls up

There’s no compendium this week. The reason? I’m too busy with my work. Sorry.

It’s 15 days to this year’s Australian Formula 1 Grand Prix. And there’s big pressure on the Grand Prix Corporation to reduce the event’s loss. It can’t increase revenue. Because the beast’s ailing. So reducing cost’s the go. What does the GP Corp do? Axe the gala ball [1]. Gee whiz. Good one. A ticket to last year’s ball cost A$795. And even then they couldn’t run the damn thing at a profit. (Otherwise why did they ditch it.) Probably too many freeloaders with their snouts in the trough. So thank you, sucker taxpayers. Great use of public money. GP head honcho Ronald J Walker denied the ball’s demise was to cut costs – Major Events Minister Louise Asher contradicted him – and proclaimed it was ‘hard to create new ideas every year for a function like that’. Oh diddums, Ronnie. Losing our imagination are we. The Age also reported the Corporation ‘is attempting to pare back at least A$1M in costs’. Given the 2010 stated loss (almost certainly much less than the real loss) was A$50M, a 2% reduction’s piss weak. The government and its GP Corporation should hang their heads in shame. Will they? Don’t answer that – it’s a rhetorical question. By the way, the cost cutting drive hasn’t stopped the Corporation donating 50% of the Thursday general admission ticket revenue to a children’s research institute [2]. Warm and fuzzy stuff, that. Should net the Institute enough dosh to buy a couple of test tubes.

Finally, I wish you, dear Farmdoc’s Blog readers, a wonderful week.

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