- ‘I Am Alive’ app gains popularity in terror-ravaged Lebanon
- Gun giveaways gain popularity among Republican candidates
- S.C. hospital worker slapped with $525 federal fine for refilling $0.89 soda
- Teen from ‘Jihad Jane’ plot becomes youngest ever to serve time on U.S. terror charges
- Iranian woman forgives son’s killer at the gallows
- Nebraska principal sorry for ‘don’t tattle’ flier
- Illinois readies to spend $100M for Obama museum in Chicago
- John Edwards back in court — this time as a lawyer for Va. boy’s malpractice case
- Covered California reports more than 200K in overtime Obamacare sign-ups
- Thanks, Chuck: Hagel says U.S. sending Ukraine sleeping mats, helmets
Haas undeterred by challenge of starting F1 team
CHARLOTTE, N.C. (AP) - Gene Haas wants double the profits of CNC machine manufacturer Haas Automation to $2 billion a year - a goal he believes he can only accomplish by tapping into the global market.
And how does he do that? By starting a Formula One team, of course.
“We want to be an American team. We think that has the most sizzle to it,” he said.
Haas, through Haas Racing Development, paid a $5,000 application fee to F1’s governing body during an open application period for new teams interested in racing in either the 2015 or 2016 season. He said he has received some frank advice from F1 boss Bernie Ecclestone about this venture.
Haas didn’t blink when asked Monday if he’d be willing to help fund Kurt Busch’s potential Indianapolis 500 entry - “He hasn’t asked me,” he said - and is already paying anywhere between $12 million and $20 million out of pocket for Haas CNC to sponsor Busch’s new fourth entry at SHR - an endeavor that required significant capital improvement at SHR headquarters.
So does he have enough money for an F1 team?
“I won’t know until I try. If you don’t try, you’ll never fail,” he said. “The Europeans have their way of doing things, and we as Americans have our way of doing things. I think we could be competitive and successful.”
He admitted Ecclestone’s warning was likely his way of “being as brutally honest with us as he can” but Haas is driven by the challenge of being America’s first F1 entrant since Penske Racing competed from England from 1974-78.
The last U.S.-based team was Parnelli Jones Racing in 1974-76, when Mario Andretti drove.
The FIA granted entry to an American team in 2009 - the USF1 team - but it failed to hit the grid in 2010 and Haas said that botched effort could hurt his process. His next application is due Feb. 10.
He’s got the support of Stewart, but his partner in the NASCAR team would not be part of an F1 venture.
“That’s Gene’s project, but it’s pretty exciting,” Stewart said. “Gene is the kind of person who when he puts his mind to it, he has the ability to stay focused. He’s done that with the Cup side, he’s done that with Haas Automation, and it’s going to be exciting watching him try to do that in Formula One.”
By Tammy Bruce
Team Obama's bizarre behavior helps Gitmo terrorists foil justice
- With pot and e-cigarettes, Big Tobacco is just waiting to inhale emerging markets
- BOLTON: A 'three-state solution' for Middle East peace
- Jews being told to register in Ukraine: John Kerry
- Russian fighter jet buzzes U.S. Navy destroyer in Black Sea
- Skeptics on all sides take aim of John Kerry's tentative deal on Ukraine
- Supreme Court weighs appeal to concealed-carry gun laws
- WEBER: Obamacare cuts home healthcare for millions of seniors
- Cliven Bundy's Nevada ranch wrecked by retreating feds
- UNICEF launches 'Mr. Poo' mascot in India to curb public defecation
- Inside China: Marine's comment on islands draws sharp Chinese response
Top 10 handguns in the U.S.