Parmalat!

jamescrofts · 23 Dec 2003, 05:08 (Ref:818683)

Just heard on BBC News 24 that Parmalat have gone bust. Parmalat were for a long time a sponsor in Formula 1. Niki Lauda is famous for his Parmalat cap. Will he need a new one?

Parmalat on BBC News, click here!

twig · 23 Dec 2003, 06:58 (Ref:818713)

In terms of the Niki Lauda situation, i think he gave up using that cap after some issue with them. I remember he was parading the thing aorund with black tape covering over the Parmalat writing.

climb · 23 Dec 2003, 07:28 (Ref:818723)

It's a very sad story, Niki's hat it's not exactly the most important side of the matter.

jamescrofts · 23 Dec 2003, 07:30 (Ref:818725)

Quote:

Originally posted by climb
It's a very sad story, Niki's hat it's not exactly the most important side of the matter.

I have to agree as the Parmalat situation afects many people and another Motorsport supporter goes to the wall.

James

**GTRMagic** · 23 Dec 2003, 07:38 (Ref:818727)

It hasnt gone to the wall just yet... the business has some problems in finding where it had lodged some funds with 2 banks, one in the Caymans, another an American bank

The Italian PM Silvio Berlusconi has stated his government will help Parmalat out of its trading difficulties.

Its a shame, and yet another iconic brandname in financial difficulties

alonso11 · 23 Dec 2003, 07:52 (Ref:818733)

Yea Lauda finished wearing that cap after the 2001 season.If memory serves me, the story was that Parmalat just haven't stoped sponsoring him for that long until the end of 2001 when they suddenly did (a truly impolitic marketing move by them).Since then he wears another red cap with a Wiessmann logo on it.

**Peter Mallett** · 23 Dec 2003, 08:03 (Ref:818738)

GTRM.

I suspect there'll be some protest from other EU members if the Italian Government does bail them out. Remember a number of European airlines either went bang or came close after 9/11 and the eU was precluded from assisting.

But it is a shame. The Parmalat Brabhams were among my favourites of the late seventies/early eighties.

climb · 23 Dec 2003, 08:12 (Ref:818744)

I hope that the only manouvre Government will do is to make pressure on banks to rembourse frauded savers, who were adviced to purchase Parmalat bonds by those banks, who did it to recover some of their exposition, abusing of savers' faith.
anyways I agree with you Peter, those parmalat Brabhams were real good looking.

**GTRMagic** · 23 Dec 2003, 08:20 (Ref:818749)

I dont doubt that Peter, but the Italian government apparently has a history of placing some large orders with companies not feeling well financially.... Olivetti springs to mind....

Bondholders are usually one of the last on the list to be repaid I'm afraid Climb

At least if the company still trades, there is a shot at repayment eventually, whereas a breakup will just collapse any hope of funds returned

alonso11 · 23 Dec 2003, 08:26 (Ref:818756)

Being only 19, I havn't seen those Parmalat-Brabhams racing but Parmalat's banana yoghourt will surely miss.

**Peter Mallett** · 23 Dec 2003, 08:37 (Ref:818765)

Just a thought but this covers wider issues than just F1. Would it be better in PF?

Redlake27 · 23 Dec 2003, 08:38 (Ref:818766)

After Brabham, Parmalat bankrolled Pedro Diniz's career at Forti, Ligier and Arrows thanks to his dad's position in a Brazilian Supermarket chain that stocked Parmalat.

**GTRMagic** · 23 Dec 2003, 08:43 (Ref:818770)

It likely would Peter...

I too liked the Parmalat Brabhams, although never got to see them race in person

Dani Filth · 23 Dec 2003, 09:24 (Ref:818791)

i would not miss the milky stuff but i would miss the great juices ..

Williamp · 23 Dec 2003, 21:22 (Ref:819386)

ahh yes. Those Gordon Murray designed Brabhams. Great livery, that blue and white with Parmalat

**Peter Mallett** · 24 Dec 2003, 04:36 (Ref:819651)

Yes but the red ones were even better!

**GTRMagic** · 24 Dec 2003, 05:37 (Ref:819677)

The red and blue ones were the better looking... especially as olivetti eventually took the place of Parmalat on the side of the Brabhams without changing the colour scheme a lot... they actually looked like the 2003 Williams in that respect

What surprises me about cars of that era is how utilitarian they look compared to today's thoroughbreds. Everything has a place and is used for full effect, but the overengineering, or prettying up the work environment didnt seem to happen in that time...

**Bononi** · 24 Dec 2003, 11:50 (Ref:819887)

The brabhams from 70 to 80's are one of the most beautiful cars from my memories, they looked like a wheeled rocket.

JohnMiller · 24 Dec 2003, 11:54 (Ref:819891)

Quote:

Originally posted by GTRMagic
The red and blue ones were the better looking... especially as olivetti eventually took the place of Parmalat on the side of the Brabhams without changing the colour scheme a lot... they actually looked like the 2003 Williams in that respect

Both being funded by BMW, not that surprising then?

Logrence · 24 Dec 2003, 17:27 (Ref:820100)

A 'mini-enron' was how I heard it described...what with Kirch and now Parmalat, it doesn't bode well making money in F1 lately.