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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:eek::p.......things are looking up;):p
 

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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:eek::p.......things are looking up;):p
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....??
 

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McL sold stock to build the P1 production line, so there is some shareholder profit dilution right there. I think the technical brain trust has become spread thin between passenger cars and F1 activities. I love the road cars, love the F1 team and love the brand. But I don't see the world economy improving for at least 4 more years. so McDaddy will have tough sledding.
 

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That's some creative accounting - the car factory alone ran just south of 1 Billion.
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'
 

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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 exactly what Ron said he was after , he wants slightly to be in profit by end of this year
 

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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:eek::p.......things are looking up;):p
Maybe we should ask Ron Dennis to come up with a realistic budget for the USA? Obama sure can't handle this. ;)
 

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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.
 

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Well this one has gotten out of hand - well aware of capital investments etc.

How about reading this article upon the release of the new super car and then we can all be on the correct page where boy wonder Ron Dennis has had his hand out for over 6 years and will continue to do so.

I think he is a great story and I am a believer but Mercedes and a few other competitors can and did chew him out only to spit him out alive.

Let's try and keep things in perspective and what he said sounds a lot like Obama - go figure :)

**Mr Dennis, ever willing to highlight McLaren’s knowhow, said: “Not many people realised that the car moved off under full electric power.”
Such progress certainly excites him more than making money. “It sounds very flippant but overall I think money’s completely unimportant – unless you don’t have any,” he said.
Still, he is quick to add McLaren Automotive will not be making many more luxury cars unless it turns a profit. Its first financial results are due to be published shortly.
Clearly, he said, McLaren Automotive “isn’t going to instantly make money because of the amount of investment that you have to put into it”. Singaporean billionaire Peter Lim and Middle East sovereign wealth funds bought up sizeable stakes.
It has thus far been “a massive investment in a difficult market. But I think the path is right. Will we need to put more money into automotive? Yes.”
 

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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.
I certainly don't run my household or business like that! I pride myself on running debt free.
 

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I certainly don't run my household or business like that! I pride myself on running debt free.
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.....??
 

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$15M-$18M deficit on this size of operation is pretty darn good. A month burn rate? 20 more P1s? :D

I bet you they were thinking they could have broken even if they just did one or two things just a little differently...
 

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When you borrow money with no plan, or budget, to pay it back it is called STEALING. In McLaren's case a sub 20mm loss sounds like great improvement. The P13 will be the key to profits.
 

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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
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.
 

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Man, this is turning into The Dave Ramsey Show - who will be first to yell "I'm debt free!"
 
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