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New managing director Mike Flewitt for McLaren states $15-18mil deficit for fiscal year 2012.......better than last when McLaren Automotive was in the hole for $105mil
.......things are looking up

Thats great news, they say it usually takes 2.5 years to start turning a profit, not sure if that sound right in this case? I'm sure that as soon as the P1 becomes available for positive performance reviews they'll be making a profit. Fingers crossed that will happen sometime soon. ? Cheers....??New managing director Mike Flewitt for McLaren states $15-18mil deficit for fiscal year 2012.......better than last when McLaren Automotive was in the hole for $105mil.......things are looking up
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Champ, actually, that's standard accounting; capital projects are amortised over a number of years, so you won't see a big hit on the books. Typical ventures hope for break even by end of Y2 moving into discreet profit in Y3, so it looks like they're on-track. I'd be interested in seeing the revenue and overhead figures tho'That's some creative accounting - the car factory alone ran just south of 1 Billion.
That's exactly what Ron said he was after , he wants slightly to be in profit by end of this yearChamp, actually, that's standard accounting; capital projects are amortised over a number of years, so you won't see a big hit on the books. Typical ventures hope for break even by end of Y2 moving into discreet profit in Y3, so it looks like they're on-track. I'd be interested in seeing the revenue and overhead figures tho'
Maybe we should ask Ron Dennis to come up with a realistic budget for the USA? Obama sure can't handle this.New managing director Mike Flewitt for McLaren states $15-18mil deficit for fiscal year 2012.......better than last when McLaren Automotive was in the hole for $105mil.......things are looking up
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Not sure what currency the billion is, but nearer £50m UKPThat's some creative accounting - the car factory alone ran just south of 1 Billion.
The Billion is US dollars.Not sure what currency the billion is, but nearer £50m UKP
http://www.telegraph.co.uk/finance/newsbysector/industry/engineering/8725975/Slideshow-McLaren-Production-Centre.html?image=7
I certainly don't run my household or business like that! I pride myself on running debt free.What's wrong with spending other people's money and printing more when you run out? Or telling creditors that sure I will repay the money owed but not for another 20-30 years and on my schedule?
Obama is doing a great job running a country like how real people running their household in the real world.
Well your one lucky duck Mark, my father taught me to be the exact same way. Unfortunately I can't say that I follow that motto to the extent that my dad did but I'm trying very hard. Keep up the good work and maybe you should spread some of your proven ways to US government.?? Cheers.....??I certainly don't run my household or business like that! I pride myself on running debt free.
Of ourse you don't. IF you run your household like Obama is running the country you would have been locked up in jail a long time ago. hahaI certainly don't run my household or business like that! I pride myself on running debt free.
Here, here... I am definitely not debt free but I pay my bills unlike Obama and for some odd reason he keeps thinking that people who work hard have to make up the deficit for the people that are waiting for a handout.Of ourse you don't. IF you run your household like Obama is running the country you would have been locked up in jail a long time ago. haha
Tex I am, but I'm married and still have kids at home with a passion for cars. Cheers.....??Man, this is turning into The Dave Ramsey Show - who will be first to yell "I'm debt free!"