Wednesday, 1 June 2011

William flew round the racetrack

If a man has a stubborn and rebellious son who does not obey his father and mother and will not listen to them when they discipline him, his father and mother shall take hold of him and bring him to the elders at the gate of the town. They shall say to the elders, 'This son of ours is stubborn and rebellious. He will not 
obey us. He is a profligate and a drunkard.' Then all the men of his town shall stone him to death...

Blows and wounds cleanse away evil, and beatings purge the inmost being. The rod of correction imparts wisdom, but a child left to himself disgraces his mother.

 Deuteronomy 5:9 
"for I, the LORD your God, am a jealous God, punishing the children for the sin of the fathers to the third and fourth generation of those who hate me."
Deuteronomy 24:16
"Fathers shall not be put to death for their children, nor children put to death for their fathers; each is to die for his own sin."


William flew round the racetrack

As the glittering circus of Formula One arrives in Monte Carlo for the Monaco Grand Prix this weekend to celebrate fast cars, big money and large yachts, most eyes will be on the twists and turns of the world’s most famous racetrack. But it is 500 miles away, in a lawyer’s office in a converted barracks complex in central Munich, that the fate of the sport will be decided. Bernie Ecclestone, the man who transformed motor racing into a billion-dollar industry, is being dragged into one of the biggest corporate corruption cases in German history. While the 80-year-old mop-top supremo does his usual rounds of the paddock and the parties, the empire he has ruled with a golden grip for more than half a century is about to face its greatest challenge — from a disgraced banker languishing in a high-security prison that once held Hitler. State prosecutors are investigating allegations that Mr Ecclestone paid a $50 million “kickback” to Gerhard Gribkowsky, a 53-year-old banker who has been arrested on suspicion of corruption, tax evasion and fraud. Last month Mr Ecclestone flew to Munich to be questioned as a suspect. So far the investigation has raised more questions than answers. However, if Mr Gribkowsky is charged — the State has until July 5 to decide — the consequences for the sport could be colossal. No one is monitoring developments more closely than CVC Capital Partners, the discreet private equity firm that bought the controlling stake of Formula One six years ago from sellers including three banks and the Ecclestone family trust. It now pays Mr Ecclestone to run the sport.

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