Motor racing-FIA have key role for F1 future, says Mercedes boss

By Alan Baldwin

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The immediate spotlight has been on plans for the flotation
of Formula One, with an announcement this week that three
investment firms have bought a 21 percent stake in the sport
from private equity firm CVC Capital.

The flotation is expected to be completed in Singapore next
month.

Formula One, run by 81-year-old Briton Bernie Ecclestone,
secured the commercial rights of the sport in a 100-year deal
agreed with the governing International Automobile Federation
(FIA in 2001.

That deal also contained a so-called ‘Don King clause’,
named after the controversial boxing promoter, that allows the
Paris-based FIA to bar from taking over the business anyone they
consider undesirable.

Glamour team Ferrari, McLaren and Red Bull have been offered
places on the future board of Formula One but not, according to
sources, Mercedes.

The current ‘Concorde Agreement’, a confidential document
governing the sport and signed by teams, commercial rights
holder and FIA, expires at the end of the year with Mercedes the
only top team yet to agree an extension.

«I think we’ve got a long way to go before we arrive at the
final solutions,» Brawn told reporters at the Monaco Grand Prix,
the social highlight of the season and a race where many deals
are done.

«I think what’s got to be factored in…is the role the FIA
play in the future and how they are involved in the sport,» he
added.

«They have been quite quiet so far but they will have an
involvement in the sport and I’m reasonably confident that we’ll
find sensible solutions in the future. I don’t think things are
closed yet…»

STIRLING MOSS

Mercedes were involved in Formula One in the 1950s, as well
as having a huge presence in pre-World War Two grand prix
racing, but pulled out in 1955 before returning as an engine
supplier with McLaren in 1994 and then buying champions Brawn GP
at the end of 2009.

Five-times world champion Juan Manuel Fangio raced for
Mercedes in 1954 and 1955, partnered by British great Stirling
Moss in that final year.

Mercedes GP chief executive Nick Fry said at the Spanish
Grand Prix this month that CVC needed to reach an agreement with
Mercedes before any flotation could be successful and this
needed to be done «fairly quickly».

Brawn said the sport had to keep its «lifeblood» with an
independent governing body to police it and provide an unbiased
viewpoint against vested interests.

«We can’t do that ourselves, for sure. The teams have always
demonstrated it’s very difficult in a very competitive
environment to be self-policing,» he added.

«So I think we’ll see in the next few months clearly where
the FIA stand on all of this… It might go on longer but I
think in the next few months it will become clear what the shape
of Formula One is in the future.

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Lewis key piece in F1 jigsaw

The rumour mill also involves Mark Webber, Paul di Resta, Michael Schumacher,
Felipe Massa and Nico Hulkenberg.

Hamilton's McLaren team continues to be dogged by gaffes and slow pit stops
that have cost the 2008 world champ dear.

Tension is rising, particularly because his consistently fine performances
have not been rewarded with the results he deserves.

And Hamilton's XIX management team is known to have sounded out other teams
about a possible switch once his contract runs out at the end of this season.

It is said McLaren have offered Hamilton a £100million five-year deal to stay
on.

But it has also emerged Force India's rising star Di Resta is the leading
candidate to replace him should he decide to jump ship.

Some F1 pundits believe Di Resta's sudden appearance in the picture may be a
tactic employed by McLaren to weaken Hamilton's position.

Ironically, Di Resta's manager is Anthony Hamilton — Lewis's dad.

The Scot is also in the frame at Mercedes should Schumacher retire for a
second time.

But given the resurgence of Merc and the seven-time world champion's recent
form, it is unlikely to he would want to quit without at least one win under
his seatbelt.

Hamilton could leap across to Red Bull to partner Sebastian Vettel

That would depend on Mark Webber leaving the reigning constructors champions.

And speculation that Webber is Ferrari-bound to replace struggling Felipe
Massa is growing. There have even been suggestions the Aussie has signed a
pre-contract agreement with the Italian giants.

However, some F1 experts believe Webber might be pipped to the prized Ferrari
drive by Hamilton despite the Brit's enmity with Fernando Alonso when the
Spaniard drove for McLaren in 2007.

The argument goes that Alonso clashed more with McLaren chief Ron Dennis than
Hamilton.

And as part of his "growing up" process, Hamilton might be happy to forge a
new, more productive relationship with Alonso, who he respects as an F1
driver above all others.

As for Hulkenberg, he is simply waiting in the wings to see how the cards fall.

The German, di Resta's team-mate at Force India, is highly regarded in the F1
paddock.

And the team would not stand in his way if the offer of a top drive emerged
amid all the swapping around.

Jigsaw puzzle, anyone?

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First Look: 2013 Mercedes-Benz GL 63 AMG

In the AMG tradition, the interior does not skip on opulence for performance. The arms-length equipment list includes driver and front-passenger memory seat settings, multicontour seats with massage function for the front seats, three-zone climate control, AMG-embroidered floormats, special stainless steel pedals with rubber studs, Keyless-Go with a special AMG logo key fob, 360-degree camera, lane-keeping assist, a Bang Olufsen BeoSound premium audio system, and a full-length panoramic roof, among other goodies.

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Key retailers kick off Q2 with strong May, but Kohl’s lags

HTT Staff — Home Textiles Today, 5/31/2012 11:59:25 AM

New York – Almost all of the key retailers tracked monthly by HTT enjoyed comp increases in May, getting the second quarter period off to a smart start.

Only Kohl’s reported a comp decline – down 4. 2% – which chairman, president and ceo Kevin Mansell described as «lower than our expectations» and the cause for the chain’s softened guidance for Q2.

«We now expect second quarter comparable store sales to be modestly negative,» he said. «We made some progress in building our inventory levels, but continue to expect lower units to hinder our sales until the back-to-school season.»

Leading the pack as they have for the past several months were off-price rivals Ross Stores and TJX Companies, both posting 8.0% comp increases.

TJX boosted its earnings guidance for the second quarter, and ceo Carol Meyrowitz said customer traffic was up significantly at every division in the U.S. and Canada.

With a 4.4% comp increase, Target’s May results came in at the high end of the company’s expected range. However, home and hardlines comps decreased slightly.

Macy’s comps rose 4.2% in May, with growth generated across geography and categories of business. Online sales for macys.com and bloomingdales.com combined were up 42.3%in May and 35.7% year-to-date.

May offered a fresh bouquet of comp increases for Bon-Ton and Stein Mart after several months of struggle for both chains.

Stein Mart posted a 3.1% comp increases after taking a 1.6% comp hit in April, thanks in part to continued strength in linens – among the strongest categories for the month.

New offerings and improved marketing were credited with Bon-Ton’s 1.5% comp bump. The department store’s ecommerce business again posted double-digit sales increases.

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Smart Wire Grid may hold key to power transmission woes

Arnerich Massena-backed Smart Wire Grid has a device that could help utilities get more capacity from their power lines, solving what has been a detriment to renewable energy development.

A Bay Area company backed by a prominent Portland investor may hold the key to grid transmission issues that are throwing up roadblocks to renewable energy integration.

Smart Wire Grid Inc., backed by an Arnerich Massena-run private equity fund, is poised to start a nationwide pilot program to test its device, which attaches to power lines to improve the communication and performance of the grid.

«It goes on lines that are congested,» said Woody Gibson, chief operating officer and founder of Smart Wire Grid.

As an example of what Smart Wire devices can achieve, consider the distinctly Northwest issue of overgeneration — times when an oversupply of water causes too much hydropower to overwhelm Bonneville Power Administration’s system. This spring, for the second year in a row, the situation prompted BPA to require wind energy operators feeding into its system to suspend operations. A device like the one Smart Wire Grid is developing could address the issue from a transmission perspective by increasing the capacity on power lines.

Smart Wire Grid officials estimate that between $3 billion and $5 billion per year is lost due to grid congestion.

«What we’re trying to do is pretty important to the power industry,» Gibson said.

Employing the appropriate amount of skepticism for an early-stage investor, Tony Arnerich, CEO and chief investment officer for Arnerich Massena puts it this way: «If it works, it’s the holy grail of electrical transmission. «

Arnerich believes in the proposition enough that he’s invested $7 million dollars so far in Smart Wire Grid, with another $3 million set aside to close out the Series A round later this year, providing that the company hits a final set of milestones.

Key to hitting those milestones is the launch of a one-year pilot program to test Smart Wire devices, which work by redirecting the flow on congested wires — think of electricity like water and transmission wires like a garden hose — to redirect the power flow to other lines on a connected system. (See details about the device here. Early tests show that the devices, which contain software and transmitter to communicate with grid operators, can improve transmission system performance from using 60 percent of existing grid capacity to using 90 percent of capacity.

Smart Wire Grid technology was developed at Georgia Tech University and received a $4.4 million grant from the U.S. government’s ARPA-E program last year to work with Boeing, Carnegie Mellon University and others to develop the transmission and communication aspects of the devices.

Tennessee Valley Authority, a $11 billion government-owned utility in the Southeast, has already signed on as a test user and will participate in the pilot.

«We received a lot of utility interest,» Arnerich said.

The plan is to sign on two or three other utilities from other parts of the country to participate in the pilot. Gibson said he has had conversations with BPA about Smart Wire Grid.

The company is working with a contract manufacturer in St. Louis to develop the pilot production line and the company’s first devices. Gibson said he’s in talks with several states about where the company might eventually based its operations.

«We’re looking for the state that offers us the best deal,» he said.

In addition to its largest backer being based in Portland, Smart Wire Grid has another Oregon tie with former PacifiCorp CEO Fred Buckman sitting as chairman of its board of directors.

Gibson expressed interest in entertaining Oregon as a potential home base for Smart Wire Grid operations, but the company’s lead investor said it might be a long shot.

«I would be tickled pink if it could come here. We would love to site it here,» Arnerich said. «But we’re not a manufacturing powerhouse and this is a heavy metal manufacturing business.»

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Ford Sees Green, Smart Technologies as Key to Rebuilding Michigan Economy …

DEARBORN, Mich. , May 31, 2012 /PRNewswire via COMTEX/ –
Ford Motor Company Executive Chairman Bill Ford calls for implementation of key policy reforms to ensure Michigan’s competitiveness and spur future innovation

Bill Ford says Michigan can become the Silicon Valley of mobility, lead the generation of more high-tech jobs and help solve the challenge of urban mobility through integration of vehicle and communications technologies

Ford announces Motor City Innovation Exchange, a collaboration between Ford Motor Company, TechShop Detroit, AutoHarvest and TechTown to encourage Michigan innovators and entrepreneurs; affordable work/hacker space and support also being offered to spur job-creating businesses

At today’s Mackinac Policy Conference, Ford Motor Company Executive Chairman Bill Ford calls for key policy reform and the need to foster innovation as critical to ensuring Michigan’s competitiveness and creating new, high-tech jobs.

«While Michigan is the home of the auto industry, the trends affecting our industry offer a great opportunity to make it the home of a variety of other industries as well,» said Bill Ford. «We are heading in the right direction to grow Michigan by putting the right policies in place and investing in Michigan’s future. »

Ford told delegates that the trends emerging in manufacturing, green technology and mobility demonstrate a great opportunity for Michigan to create a dynamic, diverse and growing economy that affirms the state as a global innovation center.

Manufacturing strengthFord discussed the need to not only diversify Michigan’s economy but also build on its manufacturing history.

«No other sector of the economy creates as many spinoff jobs as the auto sector. For each job created in autos, nine more jobs are created to support it,» said Ford. «In the past two years, half of the new jobs that have been created here were manufacturing-related. »

Continuing to lead the green transformationFord also highlighted the benefits Michigan has realized by being at the center of exciting developments in green technology, including electric vehicles and battery innovation.

«At Ford, we have invested nearly a billion dollars to build electric vehicles and the battery packs that power them right here in Michigan,» said Ford.

«We want this technology to become a core competency for us in the 21st century. And we are building the expertise to do that right here in our home state.»

Addressing urban mobilityWhile great strides have been made with green technology, Ford also discussed the pressures of a growing global population and the new challenge of global gridlock – the potential that the world will face a never-ending traffic jam that wastes time, energy and resources.

Ford outlined the company’s vision to address this global challenge in the company’s Blueprint for Mobility, announced earlier this year.

He also described urban mobility as the greatest opportunity for Michigan. Ford believes that tackling this challenge will pave a future for Michigan akin to the birth of a new Silicon Valley.

«To address this issue, we will once again need new technologies, as well as new ways of looking at the world,» explained Ford. «We will need to view the automobile as one element of a transportation ecosystem.»

Integrating the automobile with this new transportation ecosystem will require an incredible variety of high-tech and policy jobs, which should be based in Michigan, he said.

«This technology is in varying stages of development and deployment, but it promises to radically transform the experience of driving,» said Ford. «As it develops, I believe Michigan must become the Silicon Valley of the mobility revolution.»

Making Michigan competitive Ford also outlined key public policy areas that will help improve Michigan’s competitiveness and ensure that the state realizes the full benefit of the impending mobility revolution. He called on policymakers to ensure policy was not holding back innovation and prosperity in Michigan. Ford argued for an updating of the state tax system by eliminating personal property taxes as well as investment in updating the electric grid.

He noted that there are encouraging signs of progress being made, citing a study released last fall by the TechAmerica Foundation that indicated Michigan added more high-tech jobs than any other state between 2009 and 2010.

«We can keep this momentum going if we are frank about the areas in which we can improve and we build upon our advantages,» Ford added.

Ford also noted that Michigan needs a world-class infrastructure and that its location on the U.S./Canada border provides Michigan with a unique advantage. He affirmed his support for the construction of a new crossing to improve traffic flow and reduce congestion, ensuring the timely flow of goods to support Michigan businesses.

Ford support for innovationFord Motor Company also introduced a number of ways in which it is helping to encourage innovation in Michigan, including two new initiatives the company is announcing today.

These include the Motor City Innovation Exchange, a collaboration between Ford, TechShop Detroit, Wayne State University’s TechTown and AutoHarvest to help entrepreneurs commercialize their creations. The program provides a showroom for innovators to show off their creations to peers and potential customers.

Ford Land also announced the Jump Start Program, which offers startup suites, including space located near TechShop, to provide flexible, discounted work space and support for TechShop members who are ready to grow their businesses.

«All of these efforts are to encourage innovation, not just in our company, but throughout our state,» said Ford. «New ideas are a priceless resource, and the ultimate driver of economic growth. »

About Ford Motor CompanyFord Motor Company
, a global automotive industry leader based in Dearborn, Mich., manufactures or distributes automobiles across six continents. With about 166,000 employees and about 70 plants worldwide, the company’s automotive brands include Ford and Lincoln. The company provides financial services through Ford Motor Credit Company. For more information regarding Ford and its products worldwide, please visit
http://corporate.ford.com .

SOURCE Ford Motor Company

Copyright (C 2012 PR Newswire. All rights reserved

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