jamolad
Formula Ford Driver
Posts: 211
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Post by jamolad on Mar 13, 2013 8:35:51 GMT 10
I reckon they will see out the season, but not as the DJR we currently know.
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Post by donk on Mar 17, 2013 8:38:22 GMT 10
I reckon they will see out the season, but not as the DJR we currently know. Ford should pick it up and re-erect another competitive Team. Throw some hot young talent in the cars and help FPR a bit!
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Post by Redforever on Mar 18, 2013 7:33:23 GMT 10
DJR has lurched from one crisis to another for years. That's what Johnson does, he loves playing the victim. And the reality is that this is just the latest drama in a long line of crisis that are as a result of his and his management's inability to manage a race team effectively. Johnson has a huge loyal fan base and one of the most iconic and recognisable brands in motorsport. He should not be struggling for support. The reality is that Johnson in the past due to either arrogance or stupidity (or a little of both) has burnt drivers, engineers and team managers and systematically destroyed a big, rich and succesful race team. He's lost millions through bad investments and through putting his own money into his team as well as losing hi own iconic racing history in a fire sale to pay creditors. Selling off your history and losing your and your families assets all in the name of 'racing' is a stupid and utterly selfish attitude. Sell what's left Dick and retire with some dignity. Let your almost 40 year old son stand on his own two feet and get a real job. Oh and by the way Steve, you may want to take Jim Beam Racing off you're own official website. www.stevejohnson.com.au
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Post by Bundy on Mar 18, 2013 9:10:26 GMT 10
I get the feeling that Dick is prepared to see his team go to the brink of collapse (if it isn't there already) because he's gone through that before following the Bathurst rock incident and is just hoping for a white knight to save him as its occurred many times before - but the problem for Dick is that his failed history in business and with sponsors is all out in the open and whether his new tactic of saying that he took an ignorant stance in the last few years while everything was being held up for him is going to work for him - well he's just going to have to hope that any goodwill that he does have left will come through for him.
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Post by Redforever on Mar 18, 2013 14:54:15 GMT 10
I get the feeling that Dick is prepared to see his team go to the brink of collapse (if it isn't there already) because he's gone through that before following the Bathurst rock incident and is just hoping for a white knight to save him as its occurred many times before - but the problem for Dick is that his failed history in business and with sponsors is all out in the open and whether his new tactic of saying that he took an ignorant stance in the last few years while everything was being held up for him is going to work for him - well he's just going to have to hope that any goodwill that he does have left will come through for him. Well said Bundy. it seems Dick's plan is to admit being a screw up and being an incompetent manager and ignoring the fundamentals of business and to sit in the corner and tell people how good things used to be for his team and then hope some poor (probably Queensland based) businessman feels sorry for him and hands him money. Every successful business person that has gotten tied up with Johnson over the years has either left or put their involvement with the team at arms length. The extraordinary statements that have come out of DJR of late in relation to mismanagement and poor commercial planning don't give current sponsors any comfort and I'm sure would have potential new ones running a mile. What company would want to invest in building their brand or being associated with a race team that admits they are a bunch of screw ups? Johnson's big payout for selling off his shares in AVESCO has no doubt come and gone. At that point he should have pulled the pin and retired. Instead we are all going to watch DJR disappear in slow motion. Which makes e laugh but no doubt is very disappointing for long term DJR fans...
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Post by Bundy on Apr 3, 2013 9:33:02 GMT 10
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Post by Bundy on Apr 22, 2013 0:34:29 GMT 10
Jnr has decided to put his house up for sale. In the article below it lists that he is looking at finding a new place with some acreage to be able to run his dirt bikes. Considering his house from a value perspective could catch a pretty penny - perhaps in the couple of million bracket, you have to wonder how that money is going to be used? It's true that he could buy a property on bigger acreage for similar money as the house he is selling but it is also true that he can pick up a decent sized property for the use that he is after for half the price he'll be getting from the sale; say 1 million, assuming his house goes for 2 million which is possible. Then you have to ask if he is buying another property for less, what could be his possible reasons? Firstly, it could be that the reason listed in the article that he wants to move to be able to ride his dirt bikes is just cover for an increasingly difficult ability to pay a mortgage on the property if one exists. That is, without a full-time seat or even the possibility of a full-time seat that did deliver him, if we go by reports from last year into drivers' salaries, 3 to 4 hundred thousand, he has had to re-prioritise his finances to be able to meet his debt commitments. And one of those options I would guess would be to sell the home and pay off the debt to move into a 'cheaper' property. The other reason which is less likely but you never know with the business judgement that the family has shown before is that Jnr is moving into a lower valued property without having to use any of the surplus money to pay off a mortgage but instead to be used to fund the team. It would be a massive sacrifice as it would be like throwing money drown the drain for some with how the team is going but perhaps it would be a sign that he feels guilty for not backing out of his drive when investors had big, bold plans for DJR. www.goldcoast.com.au/article/2013/04/20/450646_gold-coast-mansions.html
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Post by donk on Apr 22, 2013 17:29:12 GMT 10
Nice House!
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Post by Redforever on Apr 24, 2013 7:52:05 GMT 10
Jnr has decided to put his house up for sale. In the article below it lists that he is looking at finding a new place with some acreage to be able to run his dirt bikes. Considering his house from a value perspective could catch a pretty penny - perhaps in the couple of million bracket, you have to wonder how that money is going to be used? It's true that he could buy a property on bigger acreage for similar money as the house he is selling but it is also true that he can pick up a decent sized property for the use that he is after for half the price he'll be getting from the sale; say 1 million, assuming his house goes for 2 million which is possible. Then you have to ask if he is buying another property for less, what could be his possible reasons? Firstly, it could be that the reason listed in the article that he wants to move to be able to ride his dirt bikes is just cover for an increasingly difficult ability to pay a mortgage on the property if one exists. That is, without a full-time seat or even the possibility of a full-time seat that did deliver him, if we go by reports from last year into drivers' salaries, 3 to 4 hundred thousand, he has had to re-prioritise his finances to be able to meet his debt commitments. And one of those options I would guess would be to sell the home and pay off the debt to move into a 'cheaper' property. The other reason which is less likely but you never know with the business judgement that the family has shown before is that Jnr is moving into a lower valued property without having to use any of the surplus money to pay off a mortgage but instead to be used to fund the team. It would be a massive sacrifice as it would be like throwing money drown the drain for some with how the team is going but perhaps it would be a sign that he feels guilty for not backing out of his drive when investors had big, bold plans for DJR. www.goldcoast.com.au/article/2013/04/20/450646_gold-coast-mansions.html Firstly, Junior would becrazy to sell up his own personal assets tohelp fund DJR. His old man has done that and gone from a mansion on the water and a 50 foot cruiser to no boat and an apartment on the Gold Coast. Not t mention selling off hundreds of thousands of dollars worth of famous ex racecars. According to the real esatearticel this poperty already sits on a couple or acres and at 100 squares is about 3 times bigger than the avergae home, so I can't see that space is an issue. I doubt you'll ever get the real reason for selling. Sellers are always going to sugar coat their reasons be it financial or personal. Given that this house was no doubt purchased from the proceeds of junior's employment at DJR over the past decade plus, he should really consider handing what ever cash he gets from it's sale back to sponsors that paid to watch his sorry arse dribble around in daddy's car for so many years....
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Post by Bundy on Apr 28, 2013 22:51:57 GMT 10
Given that this house was no doubt purchased from the proceeds of junior's employment at DJR over the past decade plus, he should really consider handing what ever cash he gets from it's sale back to sponsors that paid to watch his sorry arse dribble around in daddy's car for so many years.... Jim Beam might be best served suing Jnr for an equitable stake in the purchase price of the property he gets - for unjust enrichment But in all seriousness, the creditors of Dick's old businesses that went belly up that didn't get their money back would have to be a little more than just pissed off to see his son having an asset of that value brought in major part because of the name of his failure of an old man.
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Post by Bundy on Apr 29, 2013 17:22:34 GMT 10
Shell returns to flanks of #17 DJR FordTim Blanchard’s #17 Dick Johnson Racing Ford will feature a red livery at Barbagallo this weekend as part of a new deal with oil giant Shell. The company has been a minor backer of the team since its 18-year primary sponsorship of the iconic operation ended in 2005. Wilson Security continues to take the most prominent places on both DJR Fords, with the company having announced that its support would be on “an interim basis” prior to Symmons Plains earlier this month. Large Shell logos meanwhile will appear on the rear quarter panels and the roof of the #17 entry. ‘There are guys here at DJR who were part of the fabulous era with the Shell Falcons and Sierras,” said team principal Dick Johnson. “We all were very proud to see the Shell Pecten back on the flanks of the #17 Falcon once again. It has been a great relationship over many, many years.” The Barbagallo event will see Ford Performance Racing’s rising star Chaz Mostert replace Jonny Reid in the #12 DJR entry, which continues to run the green Wilson Security scheme. Mostert completed his first test with the team last week, which left FPR star Mark Winterbottom predicting a return to the top 10 for DJR in Perth. www.speedcafe.com/2013/04/29/shell-returns-to-flanks-of-17-djr-ford/
Good news for DJR and well done to Shell for coming back on board in a more substantial way. Shell would have benefitted hugely with their naming rights sponsorship througout the 90s and early 2000s of DJR even to this day, so it's good to see them give something back.
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Post by Redforever on Apr 29, 2013 18:09:50 GMT 10
Good to see Dick all dressed up for the official photo. Looks like he's on his way to the local pub for lunch..
Lucky Ford aren't giving his team any money. What with all that red on the car punters might mistake it for a Commodore.
Isn't that Ford corporate thinking?
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Post by Bundy on Apr 29, 2013 21:21:23 GMT 10
Lucky Ford aren't giving his team any money. What with all that red on the car punters might mistake it for a Commodore. Isn't that Ford corporate thinking? It is. But quietly you would think that Dick wouldn't give a **** about Ford.
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Post by Redforever on May 2, 2013 7:37:40 GMT 10
Lucky Ford aren't giving his team any money. What with all that red on the car punters might mistake it for a Commodore. Isn't that Ford corporate thinking? It is. But quietly you would think that Dick wouldn't give a **** about Ford. Bundy, yeah you're probably right. He must be just about over them by now. Given that Ford claim they still support him when in fact as I understand it they lend him two cars. Whilst that is 'support' in the strict sense, it's almost insulting in my opinion given the hundreds of millions in advertising, merchandise and awareness DJR have created for the blue oval over the past 30 years. Johnson should do a Roland and replace the Ford badges with DJR logos and tell Broadmeadows to stick the loan cars up their arse...
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Post by Bundy on May 23, 2013 23:52:35 GMT 10
With today's bleak news about Ford ending production here in Australia and the associated doubt that is now cast over Ford's arrangements with FPR for the future, you have to wonder the motivations behind Dick's quite glowing sentiments in this Speedcafe article - m.speedcafe.com/2013/05/23/dick-johnson-reacts-to-ford-bombshell/It's true that both Dick and Ford have had a rich history together which may provide the motives but he has also been hard done by by Ford including this year where it was reported the extent of Ford's assistance to DJR was 2 cars. Also, I think Jnr recently launched a tirade against Ford in an edition of AA. But the sceptical side of me says that Dick is making a pitch for Ford's money should they not renew with FPR and Dick can't find a new manufacturer himself. Sure the money from Ford won't be anywhere near what they give to FPR you would think but it would certainly be better than nothing. Or perhaps I'm reading too much into it
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Post by Redforever on May 24, 2013 7:41:02 GMT 10
With today's bleak news about Ford ending production here in Australia and the associated doubt that is now cast over Ford's arrangements with FPR for the future, you have to wonder the motivations behind Dick's quite glowing sentiments in this Speedcafe article - m.speedcafe.com/2013/05/23/dick-johnson-reacts-to-ford-bombshell/It's true that both Dick and Ford have had a rich history together which may provide the motives but he has also been hard done by by Ford including this year where it was reported the extent of Ford's assistance to DJR was 2 cars. Also, I think Jnr recently launched a tirade against Ford in an edition of AA. But the sceptical side of me says that Dick is making a pitch for Ford's money should they not renew with FPR and Dick can't find a new manufacturer himself. Sure the money from Ford won't be anywhere near what they give to FPR you would think but it would certainly be better than nothing. Or perhaps I'm reading too much into it Maybe too much reading Bundy ;D Ford never gave much of a **** about V8 Racing when they were making cars here, so I can only imagine that their appetite for it when they stop making the Falcon will be virtually zero. Johnson has systematically scaled back his operations to the point where they do very little in house fabrication or engineering so their value to a potential new manufacturer is limited. Johnson basically has his name and history, which no doubt has a value, but not being aligned with Ford I think that value is greatly reduced. Ford have no doubt tens if not hundreds of millions in redundancies to pay out in the next couple of years, not to mention trying to sell cars in a climate where they just became the corporate bastards of the Australian automotive world. So I can't see them writing cheques to Johnson under any circumstances...
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Post by Bundy on May 24, 2013 8:47:45 GMT 10
Ford have no doubt tens if not hundreds of millions in redundancies to pay out in the next couple of years, not to mention trying to sell cars in a climate where they just became the corporate bastards of the Australian automotive world. So I can't see them writing cheques to Johnson under any circumstances... The redundancy payouts will be a huge burden on Ford in this current climate. But I think Ford still need a presence on the grid if they cut ties with FPR. They still have to sell the rest of their falcons that they have occupying broady, right? I don't think simply a sponsorship of Geelong FC, if it contines and although I wouldn't mind it, would cut the mustard when it comes to promotion of their brand. DJR are a basketcase atm. Their only hope is through developing young talent. Sadly Blanchard is past it but Mostert is a driver that the team should pin their fortunes to for the future. And if Ford can see this as a future purpose of DJR they might just get behind them but it really will be for scraps though IMO.
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Post by Bundy on May 24, 2013 16:29:29 GMT 10
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Post by Bundy on Jul 21, 2013 12:03:39 GMT 10
V8 legend Dick Johnson broke and sick after losing $9.1 million
AUSTRALIAN motorsport legend Dick Johnson has revealed he is broke and unwell after losing a staggering $9.1 million.
A sporting great who should be living in the lap of luxury after a 36-year career, the five-time V8 Touring Car champion is living off $350 a week and hasn't drawn a wage from his famous race team Dick Johnson Racing since 2008.
The 68-year-old also spoke for the first time about his ailing health. "I lost nearly everything I owned," Johnson told The Sunday Telegraph last week.
"My house, my factory, my health and my famous cars. Even my dignity. I was conned out of $9.1 million."
Failed business deals forced him to mortgage his $2.1 million Gold Coast property in 2008 and a $1.3 million factory that housed the most successful team in the history of V8 Supercars.
The three-time Bathurst winner lost $4 million in savings and was forced to sell the priceless race cars that helped to make him one of the most standout drivers in Australian history.
"They had to go," Johnson said. "I was broke and busted and left without a choice. It hurt then and it still hurts now. I am sure all this drama will eventually kill me.
"It may floor you to know I haven't drawn a wage from my business since 2008. Some people think I am a rich racing legend worth a fortune. But my wife and I have been living on less than $1500 a month. That covers food, bills and petrol. Sometimes I have enough to fly my wife (Jill) to races to watch our son Steve race. My only income comes from the factory space I rent to my team. I have nothing else. I lost it all in a dodgy deal."
Johnson's woes began in 2005 when his major sponsor, Westpoint, collapsed - leaving him without a promised $12 million for his team.
The man who became a household name in 1980 when he was wiped out by a rock at Bathurst formed two businesses - V8 Telecoms and FirstRock Mortgage Centre. Both companies collapsed in 2007, forcing Johnson to sell his assets to pay out creditors and save his race team.
"I have had many lows in my life, but none more so than walking into a hotel to plead with a bunch of knockabouts to take all I had to give to save my team.
"It was damn right embarrassing and completely terrifying. Thankfully they accepted my deal and allowed my team to survive," he said, adding the ordeal had made him an "old man" beyond his years.
"I am not a healthy man, the reasons stem from that period of my life - I couldn't sleep, I couldn't eat and I constantly felt sick in the guts. From that day I have constantly battled problems that have made me an old man.
"I was never a big drinker but I turned to the bottle to help me sleep and forget my troubles at night."
www.news.com.au/national-news/nsw-act/v8-legend-dick-johnson-broke-and-sick-after-losing-91-million/story-fnii5s3x-1226682489149 None of this is surprising as it confirms really what Redforever and I have been saying from the horse's mouth. I don't see any other reason why he would make this public to inform the ignorant and ill-informed about his finances other than to generate pity on himself and hope that the pity transforms into investment in his team. At the end of the day, these were his business deals. Yes the Westpoint debacle was unfortunate in that the company went bust owing the team millions of dollars worth of sponsorship but you never know whether true due dilligence was performed by Dick on the company that their long-term future was financially secure, do you? If we go by his failed telecommunication and mortgage business ventures that occured shortly after Westpoint, it suggests to me that perhaps due dilligence wasn't performed. But what I don't get and I don't exactly know when his telecommunication and mortgage company was started but it appeared to start in 2006 as it didn't have any signage presence on the 05 car: img837.imageshack.us/img837/4497/aj5l.jpg [/img] Is why put what appears to be all his money into this venture knowing that his team is without a main sponsor? Especially considering you wouldn't regard dick to have all that great business acumen. Just doesn't make sense... Anyway, there is a solid indication in Phelps' article as to why Dick and Jnr want the team to continue and that is because of the financial dependence that Dick has on the floor of his workshop to derive a rental income from that and you would think he's only going to get top dollar for that if a V8 main series team is operating from that space.
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Post by commodore30s on Jul 21, 2013 16:38:35 GMT 10
I don't see any other reason why he would make this public to inform the ignorant and ill-informed about his finances other than to generate pity on himself and hope that the pity transforms into investment in his team. Nothing to do with that James Phelps has penned DJ's autobiography that is about to come out, the quotes in the Phelps written article are excerpts from the book
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