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listened to the whole video. Apparently the Automotive part have serious problems. Is that why they apointed Paul Walsh as new chairman?
That is what was saying, the F1 team are fine afaik.
Quite possibly.
Really didnt know this was happening behind the scenes. Hope they wont go down. In the video he compared the brand going the same path like Lotus.i still think that McLaren are bigger and have a more powerfull brand value to go down like Lotus (wich has been on the edge for decades)
listened to the whole video. Apparently the Automotive part have serious problems. Is that why they apointed Paul Walsh as new chairman?
That is what was saying, the F1 team are fine afaik.
Quite possibly.
Really didnt know this was happening behind the scenes. Hope they wont go down. In the video he compared the brand going the same path like Lotus.i still think that McLaren are bigger and have a more powerfull brand value to go down like Lotus (wich has been on the edge for decades)
Okey, the video has some good points, but this guy has a personal grudge against Mclaren, and I have noticed it few times over the years in couple of his videos so I would say his claims have some foundations but its a bit overblown
Any info on his background, has he worked in the automotive industry or is he a car enthusiast? Either way, it would be naive to think the current worldwide financial decline won’t affect McLaren negatively, it has like most carmakers. But hopefully, it’s about weathering the storm. Has there been any reports of current shareholders looking to sell off ?
Q: (Stefano Mancini – La Stampa) Kimi, will you help Vettel to win his championship this year?
Kimi Raikkonen: I can only drive one car, obviously.
@2018 Singapore Grand Prix drivers press conference.
Any info on his background, has he worked in the automotive industry or is he a car enthusiast? Either way, it would be naive to think the current worldwide financial decline won’t affect McLaren negatively, it has like most carmakers. But hopefully, it’s about weathering the storm. Has there been any reports of current shareholders looking to sell off ?
Iirc he’s a professional film cameraman that loves cars and decided to start his own car channel a few years back.
I quite like his warts and all commentary and opinions.
just listened to that video and now this..just seems that McLaren Automotive was too big
They were structured for aggressive growth and it was going very much to plan. But if something like this happens then you are f*cked. There's a lot of business in that position sadly. But Mclaren will be fine, if things got bad they would be bought by someone. I have no warmth for any of the current owners, despite their support for the team, so that doesn't bother me.
just another youtuber trying to ramp up his views. why isnt anybody ramping about Ferraris unreliability?? Or the fact that they make you buy 213 of their new cars just to be able to buy a special version of the normal model. because Ferrari will make sure you will never buy another of their car or even be invited to their test drives..
every car manufacturer has taken a hit during these times..
You clearly haven't watched the videos, he loves the cars but accurately points out Maclaren's current unsustainable business practices.
At least watch this one:
Finally, everyone knows that Red Bull is a joke and Max Verstappen is overrated.
just another youtuber trying to ramp up his views. why isnt anybody ramping about Ferraris unreliability?? Or the fact that they make you buy 213 of their new cars just to be able to buy a special version of the normal model. because Ferrari will make sure you will never buy another of their car or even be invited to their test drives..
every car manufacturer has taken a hit during these times..
You clearly haven't watched the videos, he loves the cars but accurately points out Mclaren's current unsustainable business practices.
At least watch this one:
Mclarens business practises were highly aggressive and would likely have been fine without a crisis, they were operating a bit like Tesla in the way they extended themselves. Nobody foresaw this and nobody could and yes it has left us extremely vulnerable and belly up. We will get through this, the issue is if and when a second wave comes, what happens then.
The second loan is likely to keep the cash balance ticking over, even if you take huge loans the business will still be healthy but devalued, providing we have the ongoing income to service those debts, which given the type of crisis, should be the case. Debt can be restructured and with the value of the historic cars we are good for the cash for now.
It is serious stuff, and this three months will have set Mclaren back years, do not underestimate that. Any business would see this as a major setback and a borderline crisis at the business, but it's not one that will sink Mclaren. The bondholders simply have a different business view to the board and in this crisis it is completely understandable. The bondholders don't want to extend massively now but want to protect their investment, it's their right.
Now I have a question, was Ron paid immediately or is he one of the bondholders? Probably not as he will have a contractual payment terms, but that's a wasps nest if he is.
