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...race promoters comes close to covering costs. The shortfall is increasingly paid for by governments who view television coverage as a giant TV commercial for their city or country. Singapore hosts a spectacular nighttime race on city streets beneath twinkling lights. In 2008, its first year, the race took in $51 million, but cost $100 million, according to Formula Money. That's O.K. with Singapore. The government kicked in $60 million, leaving the local promoter with a tidy profit. "Singapore wasn't really on the map, and then they run this F1 night race, show it on TV and suddenly...
That's a big reason why Formula One is moving steadily eastward. When it began in 1950, on the bumpy tracks of Monza and Silverstone, the championship was a race between European cars mostly driven by European drivers and watched by European fans. The drivers took their lives in their hands every time they got behind the wheel. Many didn't make it. Jackie Stewart, three-time F1 world champion, used to look back at his house before leaving to drive at Germany's original Nürburgring in case he never saw it again. "The Nürburgring...
...Center for Responsive Politics. Gallogly, Wolf and Pritzker hosted a series of meals with business leaders and White House officials last year, blurring the lines between policy outreach and a potential donor-recruitment operation. Though having campaign donors on advisory boards is not without precedent, Democratic influence brokers took notice. "It's the Lincoln Bedroom with a little more cover," explained a prominent Democratic lobbyist, referring to a Clinton-era practice of permitting top donors to spend the night at the White House. (See more about the environment...
...persuaded Obama to take a more aggressive approach to banking regulation. But it also includes several executives whose firms stand to benefit from more federal funding of green technology - people like General Electric's Jeffrey Immelt and Caterpillar's James Owens, both of whom supported John McCain. Doerr took the lead on the group's energy subcommittee, drafting a 2009 memo that called for increasing fees on carbon pollution and changing rules to encourage electric utilities to move to a unified smart grid, which would benefit an industry in which he has significant investments...
...Prime Minister Nouri al-Maliki's Shi'ite-led governing coalition, worries about an élite counterterrorism unit run by al-Maliki's office, which, he says, is responsible for the arrests of scores of opposition politicians and government critics in Diyala. Two months ago, members of the unit took the deputy governor, Mohammad Hussein al-Jabouri. "Of course it's totally political," says one of the governor's aides. "If he is really a terrorist, why didn't they arrest him before he was elected?" (See pictures of Iraqis preparing to vote...