Month: May 2012

  • F1: Webber makes it six different F1 winners in six races with Monaco victory

    F1: Webber makes it six different F1 winners in six races with Monaco victory

    As he did in 2010, Red Bull Racing’s Mark Webber parlayed a Monaco Grand Prix pole into a Monaco victory as he helped set a FIA Formula 1 World Championship record by becoming the sixth different winner to claim an F1 victory to start the season.

    Webber led a rampaging six-car train that fought through varying weather and track conditions through the final 10 laps, besting Nico Rosberg and Fernando Alonso to become the first Australian to win two Monaco GP events.

    “It was an interesting race,” Webber said after taking his eighth F1 victory. “It was fairly straight forward at the start, we were getting good lap times and getting a gap on the super soft tires, but we were watching the rain. The next phase of the race was strange because it was hard to get the soft tires warmed up and we had very low front grip, which was difficult. I think we got the maximum out of ourselves this weekend and it was a special victory for us today.”

     

    Mark Webber, Red Bull Racing
    Mark Webber, Red Bull Racing

    Photo by:Motorsport.com

     

    Webber paced the first 28 laps of the day before pitting for tires, promoting his teammate Sebastien Vettel to the top spot. Vettel, who was the only driver to start the race on the soft Pirellis as opposed to the super-soft shoes that everyone else had, stayed out and led until Lap 46 as everyone on Pit Lane was telling their drivers to expect rain. Vettel’s move would have given him a big advantage if everyone had needed to pit for intermediate rain tires, but the weather didn’t cooperate.

    “We were concentrating on staying within 20 seconds of Sebastien because that’s how much time it takes to get through a pit stop,” Webber reported. “We didn’t want to lose the lead that way, that wasn’t part of the plan. Once that was taken care of, we thought we were clear, then things got interesting later.”

    Vettel handed the lead back to Webber when he pitted, although Vettel did manage to move into fourth place with his charge, coming out of the pits just ahead of McLaren’s Lewis Hamilton. Hamilton, who had run third in the first part of the race, saw that spot stolen away by great Ferrari pit work, as Alonso got out around Hamilton on their first stops.

     

    Nico Rosberg, Mercedes AMG F1
    Nico Rosberg, Mercedes AMG F1

    Photo by: Motorsport.com

     

    Webber, Rosberg, Alonso, Vettel, Hamilton and Felipe Massa were all within five seconds of each other as the laps wound down, but things tightened up even further as light rain finally started to fall with a dozen circuits remaining. Lap times plummeted as the rains dampened the course, even sparking Jean-Eric Vergne to pit out of seventh spot to put on the intermediate tires.

    But as will happen on the Cote d’ Azur, the rains vanished as quickly as they had come, negating the need for the leaders – who by now were all six covered by just 2.1 seconds – to come in for new shoes.

    With the threat gone, Webber was able to keep Rosberg at bay during a furious nose-to-tail battle between everyone in the top six, while Alonso pressured Rosberg extremely hard before settling for the third position. The finish for Alonso vaulted him into the series points lead ahead of Vettel and Webber, who moved into a tie for second with his win.

    “The target was to finish in front of Sebastien, but now that changes,” Alonso stated. “Now he and Mark are the targets. The race was smooth at the start, even though I thought there might have been damage after contact with (Romain) Grosjean. The team gave me a perfect pit stop and we were able to make up some ground and that was big for us.”

    Grosjean saw his promising day ended before the first turn as the Frenchman was pushed toward the wall by Massa at the start. Grosjean’s relocation unfortunately moved him in front of Michael Schumacher, who had slid to his left in search of a clear path to the first turn. The resulting collision caused Grosjean to spin and retire, while Schumacher would continue on before eventually retiring late in the race.

    Sergio Perez had an eventful day, setting the fastest lap of the race, but failing to score a championship point after a penalty for a dangerous move entering Pit Lane and contact with Heikki Kovalainen late in the race.

    Force India’s Paul DiResta ended up seventh ahead of Nico Hulkenberg and Kimi Raikkonen while Bruno Senna was promoted into the final points-paying spot after Vergne’s failed strategy dropped him out of the points.

     

    Copyright. 2012. All Rights Reserved

     

  • Qualifying analysis – Webber scoops Saturday jackpot 26 May 2012 Luck changes fast in F

    Qualifying analysis – Webber scoops Saturday jackpot26 May 2012

    Mark Webber (AUS) Red Bull Racing. Formula One World Championship, Rd6, Monaco Grand Prix, Practice Day, Monte-Carlo, Monaco, Thursday, 24 May 2012Michael Schumacher (GER) Mercedes AMG F1 W03. Formula One World Championship, Rd6, Monaco Grand Prix, Qualifying Day, Monte-Carlo, Monaco, Saturday, 26 May 2012Sebastian Vettel (GER) Red Bull Racing RB8. Formula One World Championship, Rd6, Monaco Grand Prix, Qualifying Day, Monte-Carlo, Monaco, Saturday, 26 May 2012Lewis Hamilton (GBR) McLaren MP4-27. Formula One World Championship, Rd6, Monaco Grand Prix, Qualifying Day, Monte-Carlo, Monaco, Saturday, 26 May 2012Kimi Raikkonen (FIN) Lotus E20, in a James Hunt liveried helmet. Formula One World Championship, Rd6, Monaco Grand Prix, Qualifying Day, Monte-Carlo, Monaco, Saturday, 26 May 2012Fernando Alonso (ESP) Ferrari F2012. Formula One World Championship, Rd6, Monaco Grand Prix, Qualifying Day, Monte-Carlo, Monaco, Saturday, 26 May 2012Bruno Senna (BRA) Williams FW34. Formula One World Championship, Rd6, Monaco Grand Prix, Qualifying Day, Monte-Carlo, Monaco, Saturday, 26 May 2012Sergio Perez (MEX) Sauber after crasjing out of Qualifying. Formula One World Championship, Rd6, Monaco Grand Prix, Qualifying Day, Monte-Carlo, Monaco, Saturday, 26 May 2012Nico Hulkenberg (GER) Force India F1 VJM05. Formula One World Championship, Rd6, Monaco Grand Prix, Qualifying Day, Monte-Carlo, Monaco, Saturday, 26 May 2012Jean-Eric Vergne (FRA) Scuderia Toro Rosso STR7 after hitting the guardrail in qualifying. Formula One World Championship, Rd6, Monaco Grand Prix, Qualifying Day, Monte-Carlo, Monaco, Saturday, 26 May 2012Vitaly Petrov (RUS) Caterham CT01. Formula One World Championship, Rd6, Monaco Grand Prix, Qualifying Day, Monte-Carlo, Monaco, Saturday, 26 May 2012Sunbathers oblivious to Charles Pic (FRA) Marussia F1 Team MR01. Formula One World Championship, Rd6, Monaco Grand Prix, Qualifying Day, Monte-Carlo, Monaco, Saturday, 26 May 2012Pedro De La Rosa (ESP) HRT Formula One Team HRT F112. Formula One World Championship, Rd6, Monaco Grand Prix, Qualifying Day, Monte-Carlo, Monaco, Saturday, 26 May 2012

    Luck changes fast in Formula One and nowhere more so than in Monte Carlo. On Saturday the sport’s newest star lost his sparkle in dramatic fashion, while its oldest shone brighter than he has in years: Williams’ Spanish Grand Prix winner, Pastor Maldonado, is set to start from the back of the grid, while Mercedes’ Michael Schumacher could have been starting from the front. In the end, the prized P1 slot went – somewhat unexpectedly – to Red Bull’s Mark Webber. We take a team-by-team look at how the Monte Carlo grid was formed…

    Mercedes 
    Michael Schumacher, 1m 14.301s, P1, will start P6
    Nico Rosberg, 1m 14.448s, P3, will start P2

    Schumacher got the perfect lap at exactly the right time as he showed all his old Monaco flair, and was delighted with the notional 69th pole position of his career even though he knew he could only start from sixth place because of his Spanish grid-place penalty. Rosberg was also very quick, but said he had a problem at one stage with understeer when he didn’t quite get the front tyres up to full temperature.

    Red Bull
    Mark Webber, 1m 14.381s, P2, will start P1
    Sebastien Vettel, No Q3 time, P10, will start P9

    Webber was very happy with his best lap, and even happier to move up a place as Schumacher’s penalty was applied as he has an excellent chance of repeating his 2010 win here. But Vettel was struggling like mad, at one stage complaining that his tyres were “jumping like rabbits.” He blamed a set-up change after FP3 which proved to be in the wrong direction.

    McLaren
    Lewis Hamilton, 1m 14.583s, P4, will start P3
    Jenson Button, 1m 15.536s, P13, will start P12

    Hamilton said qualifying was “massively tough” and one of the hardest sessions he’d had for a while, particularly in terms of switching the tyres on in the low-speed corners. Button was completely at sea, especially as his car had felt quite good at times in FP3.

    Lotus
    Romain Grosjean, 1m 14.639s, P5, will start P4
    Kimi Raikkonen, 1m 15.199s, P8

    Eric Boullier was disappointed that his drivers managed only fifth and eighth places after the speed Grosjean has shown all weekend. The young Frenchman said he did a great first lap in Q3 but wasn’t thereafter able to improve on his second run. Raikkonen just made it through from Q2 in the final seconds, and said he messed up his best lap pushing too deep in the Swimming Pool section.

    Ferrari
    Fernando Alonso, 1m 14.948s, P6 will start P5
    Felipe Massa, 1m 15.049s, P7

    Alonso said he was happy with what he called the team’s best combined qualifying performance of the season and that he might have shaved a few hundredths off his time, though it wouldn’t have changed his grid position. Massa said he was very pleased with his dramatic upswing to his old form and that he thought fifth place might have been possible. Given their usual race pace, Ferrari will be strong tomorrow.

    Williams
    Pastor Maldonado, 1m 15.245s, P9, will start P24
    Bruno Senna, 1m 15.709s, P14, will start P13

    After Spain, Williams came down to earth with a heavy bump. Maldonado had a silly run-in with Perez in the morning which ruined his race as he was given a 10-place grid penalty, then the shunt he had in Casino Square in FP3 damaged the FW34s gearbox so badly that it needs replacement, which is set to drop him to the back of the grid. Senna just never really got it together in a car that had top-five pace.

    Sauber
    Kamui Kobayashi, 1m 15.508s, P12, will start P11
    Sergio Perez, No time, P24, will start P23

    Perez got it all wrong in the Swimming Pool right at the start of Q1, pushing too hard and clobbering the wall. As his damaged Sauber then threw its left rear wheel as he ran over the speed bumps on the exit, the session was briefly red flagged. Kobayashi said he was disappointed he lacked the pace to get into Q3.

    Force India
    Nico Hulkenberg, 1m 15.421s, P11, will start P10
    Paul di Resta, 1m 15.718s, P15, will start P14

    Hulkenberg was quickest in Q1 and looked strong in Q2, but in the end the car had no more to give him. Di Resta had been happy with his VJM05 in FP2 but found that changed track conditions had robbed it of rear-end grip for FP3 and qualifying.

    Toro Rosso
    Daniel Ricciardo, 1m 15.878s, P16, will start P15
    Jean-Eric Vergne, 1m 16.885s, P17, will start P16

    Vergne was very unhappy with himself after taking off his front wing braking for the chicane in Q2. Some resultant right-rear suspension damage prevented him from going out again. Ricciardo was also disappointed, admitting that he was overdriving and making a few small but costly mistakes.

    Caterham
    Heikki Kovalainen, 1m 16.538s, P18, will start P17
    Vitaly Petrov, 1m 17.404s, P19, will start P18

    Kovalainen was very happy with his run, and the performance of a new rear wing that gave him Toro Rosso-type pace. He felt he could have made Q2 if he hadn’t come across one of the Marussias at the end of his best lap. Petrov had to run without his KERS after a problem with it in FP3, and also lost a run because of the Perez red flag.

    Marussia
    Timo Glock, 1m 17.947s, P20, will start P19
    Charles Pic, 1m 18.476, P22, will start P21

    Glock was happy with changes to the set-up made between FP3 and qualifying, though Perez’s accident cost him a run on the super-softs. Pic wasn’t so happy with his performance, blaming lack of pace compared to Barcelona, and traffic.

    HRT
    Pedro de la Rosa, 1m 18.096s, P21, will start P20
    Narain Karthikeyan, 1m 19.310s, P23, will start P22

    De la Rosa said his Q1 lap was the best he’d ever done round Monaco, even if it took three runs on the super-soft tyres. Karthikeyan chose to do only two runs and thus saved a set of option tyres for the race.

     

    © 2012 Formula One World Championship Limited All Rights Reserved

  • After what I have been through during the last two-and-a-half years, it is very satisfying to manage

    F1: Schumi shocks at Monaco, but Webber to start on pole

     

    Red Bull Formula 1 driver Mark Weber, will start from the Pole position in tomorrow’s

    2012 Formula 1 Grand Prix Du Monaco.

     

    Formula 1 legend Michael Schumacher dismissed retirement rumors during the week leading into the Monaco Grand Prix, and then he went out and dismissed 23 competitors to lead qualifying around on a sunny Saturday in Monaco.

    Schumacher shocked the series by piloting his Mercedes-powered rocket around the Monte Carlo streets in 1:14.301 to best Mark Webber by .08 seconds. The stunning result came on the same course where Schumacher scored the first of his 68 poles – that coming in a Benetton-Ford in 1994.

    After what I have been through during the last two-and-a-half years, it is very satisfying to manage a pole here at Monaco.

    Michael Schumacher

     

    But the joy of the surprise pole was tempered for the German ace as he will start sixth after serving a five-spot grid penalty owing to his contact with Bruno Senna at the Spanish Grand Prix.

    Michael Schumacher, Mercedes AMG F1 in the FIA Press Conference
    Michael Schumacher, Mercedes AMG F1 in the FIA Press Conference

    Photo by: motorsport.com All Rights Reserved

     

    Undaunted, Schumacher will take his third-row starting spot and told the post-qualifying press that he intends to win Monaco for a sixth time tomorrow.

    “I told you in the press conference (earlier in the week) that we would win the pole, I would start sixth (due to the penalty) and we would win the race, and that is what we are going to do,” Schumacher grinned. “This confirms what I have been feeling all along about our team. After what I have been through during the last two-and-a-half years, it is very satisfying to manage a pole here at Monaco.”

    The penalty vaults Australian Mark Webber to the Monaco pole, marking the second time in the last three years that the Red Bull driver will start on pole at the principality. Webber used his 2010 pole to storm away to the victory – his first at Monaco – and today’s top qualifying spot is the 10th of his F1 career.

    “That was a pretty wild session today and Michael did a great lap, but we are happy to be starting from pole tomorrow,” Webber said. “Our team worked very hard this week and they have always given us good cars on Sunday, so I am feeling confident about our chances.”

    Schumacher’s penalty drops him back to sixth on the grid but promotes his teammate Nico Rosberg to a front-row starting spot. Rosberg – who won from pole in China – earned the third front-row starting spot of his career with a top time of 1:14.448. Rosberg is the only driver in the first two rows to have earned a victory this year as the series looks to break a record by carding its sixth different winner in as many races to start the season.

    Lewis Hamilton and Romain Grosjean will fill the second row while Schumacher’s demotion means that he will split the Ferraris of Fernando Alonso and Felipe Massa. Kimi Raikonnen needed last-lap fliers just to get out of the first and second qualifying sessions, allowing him to grid eighth.

    Jenson Button was the shocker of the second qualifying session as his last-second lap was not enough to move him into the final skirmish. Raikonnen’s final lap in that same session knocked opening qualifying round leader Nico Hulkenberg back to 11th, although he will be promoted to 10th after Pastor Maldonado serves the 10-spot grid penalty he earned in Saturday morning’s practice.

    Sergio Perez failed to get out of the first qualifying session for the first time in his 23 F1 starts after he brushed the wall, damaging his steering and causing another impact that ended his session.

     

    Copyrigh. 2012. motorsport.com All Rights Reserved

  • MATCHETT: Monaco The Ultimate Paradox

    Live! F1 Streaming P1/P3

     

     

    Bernie Ecclestone says all the teams accept the post-2012 Concorde Agreement. (Photo: LAT Photographic)

    Romain Grosjean drives during Thursday practice in Monaco. (Photo: AFP/Getty Images)

    Monaco is renowned for glitz, glamor and money, but when you strip away its golden filigree, you have a working fishing village…

    Steve Matchett  |  Posted May 24, 2012   Monte Carlo (MCO


    Sunday’s Monaco Grand Prix is a historic race of great significance, the crown jewel of Formula One for a myriad of reasons.

    Oddly enough, Monaco represents the one weekend of the year in which the event itself means more to Formula One than Formula One means to the event. The teams’ marketing departments work extra hard in Monaco, wooing established clients, and attempting to impress new sponsors, too. Ironically, however, while a great majority of sponsorship deals are sealed this weekend primarily because of the locale, from a competition standpoint, the South coast of France makes absolutely no sense as host of a Formula One race.

    Monaco is a small, working, French fishing village and market town. The concept of race carswhipping through narrow streets and around a packed harbor seems somewhat absurd, and is somewhat absurd. If a track designer was to draw the Monaco Grand Prix circuit and present it to the FIA for approval for a proposed new venue, it almost certainly would be thrown out on the grounds of safety concerns. Cars race so close to the harbor that boat owners are asked to pull their boats back by 12 feet just in the off-chance a car goes into the water. Run-off areas virtually are non-existent, so there is minimal margin for driver error.

    Monaco is renowned for glitz, glamor and money, but when you strip away its golden filigree, you have a working fishing village – a most unlikely site for a Grand Prix. It, however, is entirely logical from a marketing perspective, so Bernie Ecclestone will do everything possible to ensure sponsors, potential sponsors and, of course, the royal family are beyond happy.

    Given the exciting season F1 is currently enjoying, one assumes a successful Monaco weekend will be had by all; guests should be treated to an outstanding competition in Monaco. In five races this season, we have witnessed five different winning drivers, five different winning constructors. One wonders how long this streak will continue and whether a sixth team will salute the crowds surrounding the royal box this weekend. 

    I give this scenario favorable odds, in part because of challenges posed by the current Pirelli tires. The 2012 rubber has been capricious in the extreme: teams must hit the elusive sweet-spot in order to have a race-winning car. Different chassis seem to suit different tracks and different tire compounds. The teams (and Pirelli) have had a difficult time gaining a thorough understanding on how these latest tires work. Pirelli will bring to Monaco their two softest compounds for the slippery streets of Monaco; the surface is exposed to excesses of both sun, and rain (and road car oil spillages) so, once again, the performance of the tires will be unknown and a key factor to the outcome of the Grand Prix. 

    Talking of rain, only recently have teams been given the luxury of pit garages in which to work. During my time in the pit lane, we worked in the open, and there were no garages but merely small pit boxes in which to store tires and tools, but there was no cover for us or the cars. We worked out in the open, rain or shine, a crude setup that rendered our technology vulnerable to the eyes of the competition. Formula One teams are rightly protective of their technology, but Monaco always provided a great opportunity for photographers (and rival teams) to study the different equipment simply because there was nowhere to hide. Much information was gleaned in merely by taking a casual stroll along the pit lane, chatting to colleagues from rival teams. 

    Another characteristic of Monaco is that a strong performance there does not necessarily hinge on supreme aerodynamics: an extra tenth of a second per lap found here and there; it centers more on avoiding the Armco barriers and avoiding mechanical breakdowns. 

    Monaco has always been, and always will be, a unique event. The fact that we really shouldn’t beracing our cars in this golden-veiled French village but continue to do so year after year simply adds to the intrigue. Over the decades, however, this little fishing port has staged some tremendous Formula One races. The industry makes an outstanding effort here, everyone from the FIA and the teams (engineers, designers, mechanics, drivers and the marketing departments), and everyone works flat-out to achieve that all-important Monaco win to secure the glittering jewel of the F1 crown.

     

    The Motor Sports Authority, SPEED and associated logos are registered trademarks of Speed Channel Inc.
    All Rights Reserved © Speed Channel, Inc. 2012

  • Thursday’s Practice Results from the 2012 Formula 1 Grand Prix Du Monaco

    Thursday practice – selected team and driver quotes24 May 2012

    Jenson Button (GBR) McLaren. Formula One World Championship, Rd5, Spanish Grand Prix, Preparations, Barcelona, Spain, Thursday, 10 May 2012Lewis Hamilton (GBR) McLaren. Formula One World Championship, Rd5, Spanish Grand Prix, Practice, Barcelona, Spain, Friday, 11 May 2012Romain Grosjean (FRA) Lotus F1. Formula One World Championship, Rd5, Spanish Grand Prix, Practice, Barcelona, Spain, Friday, 11 May 2012Kimi Raikkonen (FIN) Lotus F1. Formula One World Championship, Rd5, Spanish Grand Prix, Preparations, Barcelona, Spain, Thursday, 10 May 2012Felipe Massa (BRA) Ferrari. Formula One World Championship, Rd5, Spanish Grand Prix, Practice, Barcelona, Spain, Friday, 11 May 2012Fernando Alonso (ESP) Ferrari. Formula One World Championship, Rd5, Spanish Grand Prix, Preparations, Barcelona, Spain, Thursday, 10 May 2012Pastor Maldonado (VEN) Williams. Formula One World Championship, Rd5, Spanish Grand Prix, Preparations, Barcelona, Spain, Thursday, 10 May 2012Bruno Senna (BRA) Williams. Formula One World Championship, Rd5, Spanish Grand Prix, Practice, Barcelona, Spain, Friday, 11 May 2012Nico Rosberg (GER) Mercedes AMG F1 W03.Nico Rosberg (GER) Mercedes AMG F1. Formula One World Championship, Rd5, Spanish Grand Prix, Practice, Barcelona, Spain, Friday, 11 May 2012Michael Schumacher (GER) Mercedes AMG F1. Formula One World Championship, Rd5, Spanish Grand Prix, Preparations, Barcelona, Spain, Thursday, 10 May 2012Mark Webber (AUS) Red Bull Racing.Mark Webber (AUS) Red Bull Racing. Formula One World Championship, Rd5, Spanish Grand Prix, Practice, Barcelona, Spain, Friday, 11 May 2012Sebastian Vettel (GER) Red Bull Racing. Formula One World Championship, Rd5, Spanish Grand Prix, Preparations, Barcelona, Spain, Thursday, 10 May 2012Kamui Kobayashi (JPN) Sauber. Formula One World Championship, Rd5, Spanish Grand Prix, Preparations, Barcelona, Spain, Thursday, 10 May 2012Sergio Perez (MEX) Sauber on a cycle. Formula One World Championship, Rd5, Spanish Grand Prix, Preparations, Barcelona, Spain, Thursday, 10 May 2012Paul di Resta (GBR) Force India F1. Formula One World Championship, Rd5, Spanish Grand Prix, Preparations, Barcelona, Spain, Thursday, 10 May 2012Nico Hulkenberg (GER) Force India F1 VJM05. Formula One World Championship, Rd5, Spanish Grand Prix, Preparations, Barcelona, Spain, Thursday, 10 May 2012Vitaly Petrov (RUS) Caterham. Formula One World Championship, Rd6, Monaco Grand Prix, Preparations, Monte-Carlo, Monaco, Wednesday, 23 May 2012Heikki Kovalainen (FIN) Caterham CT01 Formula One World Championship, Rd5, Spanish Grand Prix, Preparations, Barcelona, Spain, Thursday, 10 May 2012Jean-Eric Vergne (FRA) Scuderia Toro Rosso. Formula One World Championship, Rd5, Spanish Grand Prix, Practice, Barcelona, Spain, Friday, 11 May 2012Daniel Ricciardo (AUS) Scuderia Toro Rosso STR7. Formula One World Championship, Rd6, Monaco Grand Prix, Practice Day, Monte-Carlo, Monaco, Thursday, 24 May 2012Timo Glock (GER) Marussia F1 Team. Formula One World Championship, Rd5, Spanish Grand Prix, Practice, Barcelona, Spain, Friday, 11 May 2012Charles Pic (FRA) Marussia F1 Team. Formula One World Championship, Rd5, Spanish Grand Prix, Preparations, Barcelona, Spain, Thursday, 10 May 2012Pedro De La Rosa (ESP) HRT Formula One Team. Formula One World Championship, Rd2, Malaysian Grand Prix, Qualifying, Sepang, Malaysia, Saturday, 24 March 2012Narain Karthikeyan (IND) HRT Formula One Team. Formula One World Championship, Rd3, Chinese Grand Prix Preparations, Shanghai, China, Thursday, 12 April 2012

    It was a mixed opening day in Monte Carlo, not least because of the changeable weather. Ferrari’s Fernando Alonso led during a sunny morning session, whilst McLaren’s Jenson Button was the quickest runner after lunch before the rain hit. Drivers and senior team personnel report back…

    McLaren
    Jenson Button, P1 – 1:17.190, 8th; P2 – 1:15.746, 1st

    “The most important job today was to try and get a decent high-fuel long-run on the super-soft tyre – which I don’t think anyone managed. We’ve got to see how the tyre works because its performance will play a considerable role in the race.

    “Still, it was nice to briefly stick that tyre on and see how much grip it has – that gives you a bit of information to look over before Saturday, even though we’ll still get to run that compound again before qualifying.

    “I definitely feel like the car improved from P1 to P2. We tried something different for this afternoon’s session and I was happier with how the car felt. There’s still room for improvement, but we know what direction we want to take.”

    Lewis Hamilton, P1 – 1:16.747, 4th; P2 – 1:17.375, 11th
    “We didn’t get to learn quite as much as we’d perhaps wanted to today. The weather was clear in the morning, but was quite difficult to dial-in the car because of the changing weather conditions we got this afternoon, compounded by the traffic as usual here. It’s an incredibly tough circuit, very technical, so every little scrap of information helps you understand where to go with the set-up.

    “The less running you get, the tougher it becomes to understand the behaviour of the tyres. Today, neither of us got to do a long-run, so we’ll be going into the race slightly unsure about how the tyres will behave. But everyone is in the same boat so I guess it’ll be a bit of a surprise for all the teams.

    “Nonetheless, it’s still mega-fun out there; it feels incredible driving this track.”

    Martin Whitmarsh, McLaren team principal
    “Hearing the roar of Formula One engines resonating around the harbour front vividly reminds you that no other circuit in the world can match the taut, visceral thrill of Monte-Carlo.

    “Unfortunately, the changeable weather conditions – a dry morning followed by an increasingly damp and greasy afternoon – have caused us to be a little less well prepared for the remainder of the weekend than we’d ideally like. But it’s the same for everyone. It’s just another of the unique challenges posed by this most formidable of street circuits.

    “I think we’re yet to see what either Jenson or Lewis can achieve when they push the car to its fullest extent around here, but I know that both our drivers relish the challenge of this circuit and that they’ll hit the ground running again on Saturday.

    “At the moment, the sharp end of the grid looks extremely close – and it’ll be all to play for in what’s likely to be an absolutely thrilling qualifying session. Bring it on!”

    Lotus
    Romain Grosjean, P1 – 1:16.630, 2nd; P2 – 1:16.138, 2nd 

    “I think the car is suiting the track pretty well and I love Monaco, it’s good to be here and it’s nice to see so many fans. The car was looking good this morning and this afternoon – we are working in a good direction. Unfortunately it was a bit wet this afternoon and we couldn’t do all the programme we wanted to achieve but as we have a good baseline it shouldn’t be such a big deal. Let’s see what the weather will be like tomorrow and what we can achieve. I think that we are looking good in both conditions.”

    Kimi Raikkonen, P1 – no time, 24th; P2 – 1:19.267, 19th 
    “It’s good to be back in Monaco even if we missed some running today. The steering wasn’t to my liking so the team changed it for me. It’s something you change for Monaco and there’s no way of knowing what it will be like beforehand. The car felt good in the second session, though it was obviously pretty slippery when the track was wet. I would have liked to have had more time in the car, but Monaco’s a track I know pretty well and it hasn’t changed much over the years. Let’s see what happens tomorrow.”

    James Allison, Lotus technical director
    “We’re happy with today’s performance as we came here with a certain amount of trepidation about whether our cars would be competitive. It was a disappointment to have missed the first session whilst we changed the steering setup on Kimi’s car, but he’s an old enough trooper to get himself up to speed on Saturday. The pace shown by Romain in both sessions was certainly encouraging. All the Monaco upgrades seem to be working well and the E20 is pretty happy around what is a very unique track.”

    Ferrari
    Felipe Massa, P1 – 1:16.843, 6th; P2 – 1:16.602, 3rd

    “We weren’t able to do as much running as we would have liked because of the light rain that fell this afternoon, but all the same, I am happy with the way things went on this Monaco Thursday. The car seemed to me to be okay right from the start of the first session, with a good balance in all conditions and with slightly better traction than we had expected. Even when we ran the Intermediates in the final part of the second session, the feeling was still positive. As for the tyres, we didn’t even fit the Supersoft, therefore we can’t say anything about their behaviour, while the Softs worked well, also in terms of their degradation. Sure, there is still plenty of work to do to fine tune all the set-up details, but we have an extra day to think about what to do to improve in this area. It’s hard to make predictions about qualifying and, even more so for the race, but definitely we can say the first day of free practice can be considered a positive one.”

    Fernando Alonso, P1 – 1:16.265, 1st; P2 – 1:16.661, 4th
    “For we drivers, Thursday in Monaco provides the best opportunity to reacquaint ourselves with a very unique track. The more you go round, the more you gain confidence and the harder you can push to bring the lap time down. This morning, we were able to get through our planned programme without any trouble, but in the afternoon, the rain came to spoil our plans and those of the others too. We weren’t able to even fit the Supersoft and only Button was able to find the right window to make the most of the Option, which is how he set the fastest time. Now, we must see what the weather will be like on Saturday morning: if it turns out to be dry then maybe we will do more laps than usual, but even if it rains we will have to do work aimed at the race. In fact, it’s not as though we understood much more when on the Intermediates, given that the track was only damp in places and so it wasn’t very representative. We can’t control the weather, we can only adapt to it as it changes. As for the car, I would say the first impressions are quite positive: everything seems to respond as we would expect. We only made a few small modifications to the set-up, trying to improve it, but it’s obviously too early to draw any conclusions. Let’s say the weekend has got off on the right foot for us: now we must try and keep going down this path.”

    Pat Fry, Ferrari chassis director
    “The rain upset our programme a bit in the second session, preventing us from getting through the usual FP2 work, centred on a comparison of the two types of tyre brought here by Pirelli. This morning, we worked mainly on the set-up of the car, which has no significant new parts apart from the usual adjustments typically required for this track. In the afternoon, we actually wanted to try both tyres over a short and a long run, but we didn’t even manage a single lap on the Supersoft. In the end, we used a set of Intermediates with both drivers but, even in this case, the track conditions were not exactly ideal for this tyre. The same applied to almost everyone, therefore relatively speaking, we are not at any disadvantage. Clearly, we have less data available with which to define the best strategy for Sunday’s race: a bit more improvisation will be called for and we will need to be even more ready to react to every eventuality. We have no had any problems of any sort on both cars, which is always positive on a track like this.”

    Williams
    Pastor Maldonado, P1 – 1:16.760, 5th; P2 – 1:16.820, 5th

    “The car is feeling really good this year and looks competitive in the running we have done today, so we’re happy with that. It’s a shame we didn’t get to run as much during the afternoon, as we would have liked to have gathered a bit more data on the tyres but we still have P3 on Saturday. I love this circuit and think it’s going to be a competitive Grand Prix.”

    Bruno Senna, P1 – 1:18.617, 17th; P2 – 1:17.655, 14th 
    “It was great to be able to do both sessions today as it meant that we could learn bit by bit. It’s been quite a few years since I drove something competitive here so it was good to have extra time to remember the track. We’re chipping away and the afternoon session was hampered by the rain, but every little helps.”

    Mark Gillan, Williams chief operations engineer
    “This morning we had a productive session with both drivers successfully working through their test programmes, but unfortunately the wet second session in the afternoon proved more problematic and limited useful running. Both drivers were happier with the car balance in the second session but we still have quite a bit more to do in preparation for Sunday.”

    Mercedes
    Nico Rosberg, P1 – 1:17.261, 10th; P2 – 1:17.021, 6th

    “It was great to be back again and to race through the city. I’m pleased with today’s practice sessions. We have the feeling that we are going in the right direction with our set-up work for this demanding track. It took a bit of a time to find the right rhythm for the circuit but it worked out well, even though we did not run very much in the afternoon because of the bad weather. I’m now really looking forward to Saturday and Sunday.”

    Michael Schumacher, P1 – 1:17.413, 11th; P2 – 1:17.293, 9th
    “It’s always great to get out on the track for the first laps in Monaco and get back into the rhythm of this special place. Already, during practice this morning I could see the areas where the safety has been improved further since last year, and it’s great that the organisers always push to make things even better every year. The weather was mixed today, which made it hard to make any firm conclusions, but basically my feeling with the car on this circuit was positive.”

    Ross Brawn, Mercedes team principal
    “We’ve had a reasonable first day here in Monaco. Obviously, this is a track where conditions are changing all the time and the wet weather in the second session this afternoon reminds us that these things can happen here. We have a lot of information to look at and work out what we’re going to do and how we think the circuit will evolve for Saturday. Generally, it’s been a good start to the weekend.”

    Norbert Haug, vice-president, Mercedes-Benz Motorsport
    “Today’s sessions were effectively brought to an early end in the morning after an engine failure on the track, then we had rain in the second half of the afternoon session. Considering these circumstances, which handicapped the progress of all the teams, we had quite a positive first day and found a reasonable baseline for our cars from which we can progress further on Saturday. With everybody completing fewer laps than usual during the first practice day in Monaco, the challenge of this demanding race is probably even higher this year. We now are looking forward to Saturday when our target is to make a good step forward to be in a position for good results in the race on Sunday. Understandably, we have been asked frequently about the status of our Concorde Agreement negotiations in the past days. On this matter, I can confirm we are having constructive discussions that are heading in the right direction.”

    Red Bull
    Mark Webber, P1 – 1:18.106, 13th; P2 – 1:17.148, 7th

    “It was not easy for us, as for all the teams today, and we’ve got some work to do in the next 24 hours. There are clearly some very quick cars and we need to see where we can improve. Obviously it was limited running for everyone, so we didn’t do as much as we would have liked; but that’s how it went today and Monaco’s like that – it throws up some challenges. The track’s quite inconsistent in terms of grip – but we did learn some things today.” 

    Sebastian Vettel, P1 – 1:17.222, 9th; P2 – 1:17.303, 10th
    “We didn’t learn too much from today due to the conditions. It wasn’t ideal as this morning we had a red flag and then it rained this afternoon; as a result it’s hard to say where we are. We didn’t have a lot of grip due to the rain, it was very slippery on track and there were a lot of cars out at the same time – but it was the same for everyone. The weather can change quickly here and now you see there is sunshine again already.”

    Sauber
    Kamui Kobayashi, P1 – 1:17.038, 7th; P2 – 1:17.153, 8th

    “Everything went smoothly today. The car has definitely improved in the slow corners compared to last year, and this is obviously crucial in Monaco. The balance of the car feels good and I’m pretty confident for the weekend. I just can’t predict how the two tyre compounds will develop in the race because the weather prevented us from doing proper long runs.”

    Sergio Perez, P1 – 1:16.711, 3rd; P2 – 1:18.251, 15th
    “The conditions were not ideal to do the work but we are looking good in the wet, so this is positive. In the dry there is some work to do, which we didn’t manage in the morning. However, I am confident as this morning we were very quick, the car is performing well and I think we can be competitive in qualifying on Saturday.”

    Giampaolo Dall’Ara, Sauber head of track engineering
    “Today’s programme was obviously messed up a bit for everyone because of the weather conditions, but we don’t have anything to complain about. We are quite happy with the car’s performance here and we had no incidents or technical issues.”

    Force India
    Paul di Resta, P1 – 1:18.302, 16th; P2 – 1:17.395, 12th 

    “The morning session was quite straightforward and the baseline set-up was not too far away. The track was quite green to begin with, but it was starting to rubber in nicely during the final half hour. We worked a bit on the set-up, changing the aero balance and collected the data we needed on the soft tyres. The rain arrived quite early in the afternoon and, although we got out on the super-soft tyres, I didn’t get a completely dry run on them. It’s good to have done some miles on the intermediate tyres because, as we saw today, it’s quite hard to predict what the weather will do on Saturday and Sunday.”

    Nico Hulkenberg, P1 – 1:17.631, 12th; P2 – 1:17.800, 14th
    “The first session in Monaco is always a time to acclimatise and get used to the circuit again, especially because I didn’t race here last year. The morning session was busy on track, but we got through our programme and I did several runs on the soft tyres. The afternoon was affected by the weather and that made it difficult to get in the rhythm or complete our tyre programme. We didn’t think it would rain today, but the conditions can change so quickly here and we need to be ready for that over the weekend.”

    Jakob Andreasen, Force India chief engineer
    “A day of varied weather in Monaco kept us on our toes and forced us to adapt our plans for the afternoon session. Having run extensively on the soft tyres this morning, we switched early to the supersofts for the afternoon session, but with rain in the air we only managed limited running. The rain was not that heavy, but it was persistent and made for a very damp track, so we opted to do some running on the intermediates with both Paul and Nico. This should leave us well prepared in case we get some damp weather over the weekend. Set-up wise we made some good improvements this morning and the drivers’ feedback is positive. With a free day tomorrow we have plenty of time to analyse the data and make more improvements before final practice on Saturday morning.”

    Caterham
    Vitaly Petrov, P1 – 1:19.341, 19th; P2 – 1:18.440, 16th

    “Both sessions were good for me today. Even though we’d obviously liked to have had more time on the options this afternoon the rain interrupted the run we tried on the super softs, but that was the same for pretty much everyone so we’re all in the same position. In FP2 the car felt pretty good and even though the track was very slippery when we went out on the inters I still felt like we have a decent balance to work from . This is one of the races where we need to make sure we’re there at the chequered flag and not make any mistakes, so having had a few laps in what will probably be the trickiest conditions all weekend I’m feeling good about the sessions ahead, and the race on Sunday.”

    Heikki Kovalainen, P1 – 1:19.039, 18th; P2 – 1:20.029, 21st
    “This morning’s session went pretty well. We tried a new suspension part early on that felt pretty good, and then we ran through a normal FP1 session on the primes until the engine let go as I was entering the tunnel towards the end of the session. As soon as I engaged neutral the rear axle locked up and that brought FP1 to a slightly early end. In FP2 everyone had the same issues with the rain and even though we got a couple of laps done on the supersofts I didn’t have a chance to put in a flying lap on those so we’ll have to look at that again on Saturday. We made the final run on the inters and coming into turn five the car went straight on – it was very greasy out there but there was no damage so I parked it and that was that.”

    Mark Smith, Caterham technical director
    “Today’s practice sessions were ok for us, if a bit stop start with the weather in FP2. This morning we tried a couple of new suspension parts on both cars that worked as we had expected and even though Heikki’s FP1 was cut short by the engine failure it was at the end of the session and we did not lose any track time as the session was red flagged. The new engine he ran in FP2 was due to go on his car tomorrow anyway, it had covered more than 2,000kms, so it really was not a big problem for us to see his morning session end that spectacularly! The team worked very well with Renault Sport F1 to make the engine change over lunch and Heikki was back on track about six minutes after FP2 began. In the afternoon session we managed to get Vitaly and Heikki out on the supersofts before the rain came back, so we have some data from those runs that will be useful for Saturday and Sunday. We finished the session with intermediates on both cars but as we also managed to complete enough laps on the softs in FP1 I think we’re ok data-wise for the rest of the race weekend.”

    Toro Rosso
    Jean-Eric Vergne, P1 – 1:18.209, 14th; P2 – 1:18.522, 17th

    “This was my first time here in a Formula 1 car and I really enjoyed myself. Because I did not go particularly well round Monaco in the World Series last year, I was a bit apprehensive about today, although still looking forward to a new experience and not knowing what to expect. I think my performance today compared quite well to my team-mate, as Daniel won the last two World Series races he drove at this circuit and he had also had some practice time in the F1 car last year. From that perspective, I am quite happy and I feel the lap time was not important, especially as I had a bit of traffic and I finished my fastest lap in the pit lane. I am relatively pleased with the balance of the car which we can fine tune a bit further, but I still need a bit more time to adapt myself to this circuit, even if I liked driving it when it was wet. I feel prepared for whatever weather conditions we might encounter for the rest of the weekend.” 

    Daniel Ricciardo, P1 – 1:18.252, 15th; P2 – 1:18.808, 18th
    “Because of the weather in the afternoon, things did not go quite as smoothly as planned and we weren’t able to try everything we had hoped to. So a bit frustrating, especially as we have a day off tomorrow: I’d prefer to be driving, but it’s probably a good thing as we can really think about what we need to do to move forward. There are some areas where we need to improve and I’m sure that if we sort that, our performance will change completely and hopefully we will have a good qualifying on Saturday.”

    Laurent Mekies, Toro Rosso chief engineer
    “Altogether this was a rather frustrating day, as the track conditions were very variable during the afternoon session. Given that Daniel has only driven FP1 in Monaco last year for us and Jean-Eric has never driven a Formula 1 car here, our main objective for the day was to give both drivers as much track time as possible on this unique circuit. That is why they were the first out of the pits this morning, as we wanted them to get into the right rhythm and that part of our plan was successful. They seemed to enjoy the experience. We also tried to do plenty of laps this afternoon despite the changing conditions, but overall, in terms of the usual jobs of working on the car set-up, we did not achieve that much. Apart from that, we had a trouble free day and the drivers did not make any mistakes and, because of the unusual timetable at this event, we have a whole day tomorrow to think about how we can improve the car for the rest of the weekend.”

    Marussia
    Timo Glock, P1 – 1:21.638, 22nd; P2 – 1:19.309, 20th

    “In general, the mixed conditions today made it very difficult to work on the car in the way we had planned. We got a good start to the day this morning, but later in FP1 I had a problem with the front end and then a red flag cut short the session. In FP2 it was important to go out early and get a good run, but then it started raining. As it looks like this will not be the only time this weekend, we made use of the track time and switched to the Inters, but the track was very slippery – particularly the white lines – so, to be honest, the main focus was keeping the car on the track!”

    Charles Pic, P1 – 1:20.895, 21st; P2 – 1:20.240, 22nd 
    “I have enjoyed my first day of driving in Monaco and now have some good experience in both the wet and the dry. Generally a good start to my programme with no real issues to speak about, just a straightforward day – apart from the weather – and getting up to speed. Tomorrow is a non-running day for us but it will provide a further opportunity to work with my engineers, see where I need to improve and come back to the track even stronger on Saturday.”

    John Booth, Marussia team principal
    “We’ve had a good introduction today to what is often a challenging circuit. The mixed weather conditions were not only good practice for the drivers, at a track that rewards their skill more than any other, but they also kept the engineers on their toes as they fought to get the best out of the available track time. We haven’t achieved quite as much data gathering as perhaps we would have liked and once again it seems that the preparation of the tyres will be critical to good performance here. Having said that, of the data we have collected, we are confident that we will be able to work on set-ups during tomorrow in preparation for Saturday morning, which will enable us to work towards extracting the best from the tyres for the balance of the weekend.”

    HRT
    Pedro de la Rosa, P1 – 1:22.423, 23rd; P2 – 1:20.631, 23rd

    “Today has been a really strange day because, out of the three hours which we normally have, I only completed two stints. I wasn’t able to make the most out of the other two. In the morning I encountered a cloud of smoke in the tunnel and a red flag, and in the afternoon it started to rain. So it was a productive day taking into account the little track time we had, and all the changes we incorporated in the afternoon supposed an important improvement. The truth is I would have liked to have done more laps, more than anything because at this circuit the more laps you do, the better. Looking to Saturday, our aim is to continue improving the car and try to qualify a little bit further ahead. It’s a difficult task here but not an impossible one.”

    Narain Karthikeyan, P1 – 1:20.838, 20th; P2 – 1:20.886, 24th 
    “We did a lot of laps in the morning and were able to try various different things on the car. We had a pretty decent balance and wanted to go one step further in the afternoon but conditions weren’t great and you couldn’t drive to the limit. Unfortunately we were unable to make the most of our track time as we would have liked but we didn’t want to risk going out in the rain and opted to stay in the garage. Things are looking promising for Saturday where we hope to encounter dry conditions to help us achieve a good result.”

    Luis Perez-Sala, HRT team principal
    “The practice sessions went well today although we would have liked to have made more of our time but the rain didn’t allow us. But it’s the same for everyone. I’m satisfied because the car went well this morning, especially the brakes and temperature, which are perhaps our weakest points in high temperatures. Besides, we were comfortably within the 107% with the same tyres and that’s positive. In the afternoon we preferred to be cautious since the conditions weren’t the best. This is a delicate circuit, where you never know what will happen, but overall I’m satisfied with how the day developed and the work done by the team and drivers.”

    Pirelli
    Paul Hembery, Pirelli motorsport director

    “Of all the tyres in our range, the teams have had the least running of all on the super-soft to date, so today was very important for them to get out and expand their knowledge of the compound in the truly unique conditions of Monaco. Unfortunately the changeable weather conditions meant that the majority of the field were unable to compare the soft and super-soft tyres as much as we had hoped making Saturday’s practice very important for the full fuel load runs. There will still be plenty of data for us to analyse tonight, and we would expect the soft tyre to last for around 50 laps and the super-soft to last for 35 laps, with a difference of about a second per lap between the two compounds. This is going to make strategy a very important part of the equation, with the key thing in qualifying being to find a clear lap, which is never easy. The super-softs have a rapid warm-up time: then it’s down to the driver to make it count. But even in Monaco, we’ve seen how a good tyre strategy can help drivers make up positions if they are further down the grid.”

     

    Copyright. 2012. F1.com All Rights Reserved

  • Nudity, Art, Sex and Death – Tasmania Awaits You Read more: http://www.smithsonianmag.com/tra

    Wineglass BayBottoms up: Wineglass Bay on the Freycinet Peninsula.

    Even by Australian standards, Tasmania feels strange and remote. Lost at the continent’s southeastern tip—quite literally, down under—the island is a hauntingly beautiful expanse of gnarled forests and rugged mountains, where exotic flora and fauna have thrived in windswept isolation. Its colonial history verges on the gothic. As if the Australian penal colonies weren’t harsh enough, the British settled Tasmania in 1803 as a holding pen for its worst criminals—a gulag within the Antipodean gulag, whose convict work camps were renowned for their cruelty. By the 1820s, settlers were embarking on a brutal frontier war with the Tasmanian Aborigines, whose last members were rounded up and removed to a smaller island, Flinders, where they died of disease and despair in one of the most shameful chapters in British history. Since then, Tasmania has stubbornly remained the least developed and least populated state in Australia, enduring unkind jokes among mainlanders, who often regard it as a refuge of hillbillies and yokels on a par with the stereo typed Appalachian here. Its main attraction for visitors has been its savage natural beauty, luring adventure travelers to raft its wild rivers and hike the succulent expanses of temperate rainforest in its national parks.

    In recent years, however, Tasmania has begun to enter a surprising new era, as the former backwater has developed a fiercely independent cultural scene. Author Richard Flanagan, from the city of Hobart, has hit the New York Times best-seller list with novels such as Gould’s Book of Fish and Wanting. Postmodern architecture has flourished, with a string of award-winning eco-lodges poised in wilderness areas. Travelers can now spend two days hiking along a deserted coastline to the Bay of Fires Lodge, a sleek designer retreat perched on a remote headland and surrounded by wild bush. Another spectacular lodge, called Saffire, opened two years ago by the Freycinet Peninsula; its main building is designed in a flowing form that evokes the pattern of the waves, with enormous picture windows facing a string of raw mountains called the Hazards. The island’s pristine environment has attracted armies of gourmet food producers, and it now exports everything from organic wagyu beef to abalone, wild duck, brie, oysters, goat cheese, truffles and saffron. The Tamar Valley in the north is producing some of Australia’s most prized wines. And there is a general obsession with all things healthful. In fact, Tasmania can sometimes verge on Portlandia, where every body product seems to be made from an elaborate homegrown concoction such as lemon eucalyptus with wild bush passion fruit.

    Still, none of these fashionable upgrades quite prepared mainland Australians for MONA, the Museum of Old and New Art, a radically innovative institution that opened on the banks of the Derwent River in January 2011. One of the largest private museums in the Southern Hemisphere—and without doubt the most provocative—MONA has suddenly vaulted Tasmania onto the international cultural map. Its $100 million private collection focuses heavily on themes of sex and death, and is presented in a uniquely creative setting, a purpose-built $75 million edifice that challenges our notions of what an art museum should be. There are none of the traditional “white cube” gallery spaces. Instead, laby-rinthine passageways and Escher-like stairways connect three underground levels. There aren’t even labels on the artworks. Visitors are each given an iPod touch called the “O” that permits random exploration; the device tracks your location and provides written commentaries, including poems and personal meditations. No audio commentary is provided; instead, the “O” plays appropriate music.

    Some artworks with religious and sexual content have caused controversy elsewhere, which has helped make MONA hugely successful. In its first year it received 389,000 visitors, far outstripping staff predictions and making it Tasmania’s biggest tourist attraction. The museum has been a boon for the fragile local economy—officials talk of the “MONA Effect” the same way Spaniards do of the “Bilbao Effect”—and has been embraced by Tasmanians, who refer to it as “our MONA.” Its success has caught the eye of cognoscenti from New York, Tokyo and London, and stolen the thunder from Sydney’s and Melbourne’s more established art scenes, forcing even the most skeptical outsiders to accept that the island has more to offer than scenery and convict ruins.

    Garnering at least as much attention as MONA itself is the man behind it, David Walsh—a mysterious multi- millionaire who was largely unknown to the Australian public 18 months ago. Walsh, 50, hardly fits the mold of a typical art patron: Raised in the working-class suburbs of Hobart, he is a mathematical savant who dropped out of college to make his fortune as a professional gambler (his empire is still funded by computerized betting, mostly on horse racing) before indulging his real passion, art. Since then, he has fascinated Aussies with his irreverent pronouncements—he delights in taunting the art establishment, describing his museum as “a subversive adult Disneyland”—and his eccentric behavior. In the Australian press, he is invariably referred to as “reclusive,” “enigmatic,” a “hermit millionaire” in the style of Howard Hughes, and is notorious for his aversion to interviews, randomly backing out at the last minute.

    In fact, it was this possibility I was dreading after flying straight from New York to Hobart to meet with Walsh. He is reported to suffer from Asperger’s-like symptoms—telling a German art magazine that as a child he was “internal to the point of autism”—and is apparently difficult to lure into conversation, often staring into space or simply walking away from journalists he doesn’t like. By the time I arrived, I felt like I was on a journey to meet an Australian Kurtz who lurked somewhere up the Derwent River.

    When I first visited Tasmania’s tiny capital in the 1980s, it was like a ghost town; nothing seemed to have changed since the Depression era, when local boy Errol Flynn abandoned it for Hollywood and London. Now I hardly recognized the place. From the Henry Jones Art Hotel—a former Georgian warehouse that has been renovated into luxury accommodations with exhibits of local artists in every corridor and room—I strolled via endless galleries to the Princes Wharf, which has long defied any form of progress. It was now taken over by MONA FOMA (Festival of Music and Art), sponsored by Walsh and organized by the celebrated Brian Ritchie, former bass player for the Violent Femmes who moved to Tasmania in 2008. The whole city seemed to be in ferment. Restaurants were packed; crowds thronged the sidewalks; the live music lineup included PJ Harvey and the Dresden Dolls.

    Had Hobart actually become…cool?

    “MONA has changed the culture here,” said Christine Scott, curator at the Henry Jones Art Hotel. “A decade ago, Tasmania had no pulse, but now young people are staying.” Walsh also subsidizes theater, art scholarships and public installations, leading to wry jokes that Hobart should change its name to Mobart. “He’s a remarkable man,” says Peter Timms, one of Australia’s top art critics, who lives in Hobart. “He has almost single-handedly transformed the cultural life of the state. Not many people can say that.”

    Because Walsh seemed to exist beneath the radar for so long, rumors about his shadowy life as a gambler and his sexually charged art collection still shroud him in mythology. Friends in the Australian media told me he had been paid $250 million by Asian casinos to stay away. (Untrue; he prefers computerized gambling.) Another said that Walsh has a private apartment within MONA with one-way mirrors on the floor, so he can wander about naked and secretly observe visitors. (Also untrue; he does have an office inside, but part of its floor is regular glass.) Walsh now qualifies as Tasmania’s top celebrity. “I love his philosophy,” said Scott. “I love his arrogance.” When I said that I planned to meet him, everyone from taxi drivers to high-ranking tourism officials wanted to know the details—probably wondering, in reality, whether Walsh would turn up.

    But before I could meet the man himself, I needed to get a sense of his bizarre brainchild, so I decided to make a preliminary visit to MONA, incognito.

    If you’re going to confront sex and death—or even just the art world’s latest depictions of them—you might as well do it naked. This notion was cheerfully explained to me by a fresh-faced attendant when I first arrived at MONA and noticed that an after-hours “naturist tour” was on offer. Apparently, participants would be escorted through the subterranean exhibitions while in the state that nature intended. The guide would also be naked, of course. Even the guards would be naked. Since many of MONA’s artworks deal with the intimate workings of the human body, any naked viewer’s involvement would surely be at a heightened level, the attendant said. “Of course, the tour has been booked out for weeks,” she shrugged. “But I could put your name on the waiting list.”

    On the assumption that getting a place was all but impossible, I agreed—giving a false name, just in case I decided to back out entirely.

    Of course, when I passed by a couple of hours later, the attendant waved me over. “Looks like the waiting list is going to clear!” she chirped. Evidently, quite a number of people who’d signed up had gotten cold feet at the last minute.

    “Oh, great,” I said, then made a beeline for the museum bar.

    MONA was turning out to be more adventurous than my wildest predictions. I was still delirious from jet lag, and had just taken a catamaran nine miles up the Derwent, which was disorienting enough. Blinded by the sparkling water, I felt the mundane world slipping away for a more vivid dimension. Suddenly, MONA had appeared on a headland like a ziggurat of concrete and rusted iron. From the jetty, I had climbed a steep stairway designed (Walsh has written) to evoke Mediterranean sea journeys, when ancient travelers would ascend to a temple to give thanks for a safe voyage. Walsh has called MONA’s design, by Melbourne architect Nonda Katsalidis, “deliberately underwhelming,” eschewing the usual pomp of art museums, with their grand entrance halls and facades. In fact, the stairway left me standing on MONA’s roof—the whole museum is excavated from the sandstone riverbank—where the entrance is a wall covered with distorting mirrors. Walsh also owns the surrounding eight-acre peninsula, so visitors are also invited to wander off and explore his vineyard, tapas bar, wine-tasting room, boutique brewery and high-end restaurant, or stay overnight in one of eight gleaming, art-filled guesthouses.

    Now I was about to get way out of my comfort zone. My 40 fellow adventurers and I descended a spiral staircase to the museum’s most subterranean level and stripped off in a dimly lit theater. Followed by two naked staff members, we awkwardly reconvened beneath an indoor cliff of golden sandstone. I noted that the group was evenly split between men and women, thankfully representing all ages, shapes and sizes. As everyone wondered where to put their hands (and their eyes), the guide, Stuart Ringholt, helpfully explained that we should consider ourselves to be part of a conceptual artwork, which explores “issues of embarrassment and self-consciousness.” He then led us through a series of galleries, past works of art ranging from the playful to the disturbing: X-ray images of entwined lovers, enormous bronzes made from interwoven figures of Christ on the cross, a passage lined with bordello-style velvet curtains ending up with graphic sexual videos and a statue of three dismembered young men hanging from a tree.

    Walsh’s collection was curated with the assistance of international art experts such as Mark Fraser, a former managing director of Sotheby’s in Australia, and others are involved in MONA’s temporary exhibitions. (Jean-Hubert Martin, formerly director of the Centre Pompidou in Paris, is curating a June show.) There is no overt order or link between the artworks. In fact, one of the most original elements of the collection is its eclectic range: Placed among the contemporary pieces are ancient artifacts, creating juxtapositions that leap across millennia. A sarcophagus and mummy are part of a multimedia installation with an Andres Serrano photograph, for example. Other modern installations include Roman coins and Babylonian cuneiform tablets.

    Being naked certainly kept me on my toes: Randomly encountering nude people in a shadowy maze is hardly the usual museum experience. It was disconcerting at first, but I’ve never been more alert to the art itself. Walsh clearly has a taste for the provocative. One of MONA’s treasures is British artist Chris Ofili’s Holy Virgin Mary, which in 1999 inspired New York’s then-mayor Rudolph Giuliani to threaten to cut off city funding to the Brooklyn Museum when it was displayed, for its use of elephant dung and pornography on an image of the black Madonna. Other pieces include Gregory Green’s Bible Bomb #1854 (Russian style), where a multimedia “bomb” is hidden inside a copy of the Bible. There is a huge close-up of a bullet wound, urns filled with human ashes, rooms lined with 150 plaster casts of female pudenda. Giuliani, one imagines, would have a heart attack. Still, other artworks are less confronting than whimsical. Austrian sculptor Erwin Wurm’s Fat Car is a red Porsche whose lines bulge like a bloated stomach. A giant indoor waterfall by German artist Julius Popp spells out words that are searched each day on Google.

    After an hour of exploring darkened galleries, I finally began to relax about being naked—then we stepped into a brightly lit laboratory-like room. This was where an artwork called Cloaca was maintained. A mass of pipes and glass tubes combined with chemicals, it is able to reproduce the workings of the human digestive system. Museum staff “feed” Cloaca daily, then collect the odoriferous result 13 hours later. But it wasn’t the evocative smell that was shocking. The room was lit by harsh neon lights, and each wall was lined with mirrors, which reflected our images into infinity. Suddenly, there was nowhere to hide. We were visible from every angle. After this clinical episode, nobody had any energy left to be self-conscious. When we all ended up in the bar at the end of the tour, we stood around and chatted casually, still nude.

    If that’s not an ice-breaker, I don’t know what is.

    The next day, I met Walsh’s research curator, Delia Nicholls, at MONA’s outdoor café and confessed that I’d actually visited the museum the day before.

    “Yes, I know you did,” she said. “You went on the naturist tour.”

    I blanched. But how would she know?

    “We saw you on the security video.”

    I had a vision of the MONA staff sitting around with cocktails, laughing uproariously.

    “David is interested to meet you,” Nicholls added.

    This was promising news. But when I returned to the lobby for my appointment at 12:30, Nicholls looked harried.

    “I don’t know where David is,” she muttered, before calling him on her cellphone. I overheard the conversation.

    “Yeah, I’m not there, I’m here,” said a gruff voice.

    “Where’s here?” she asked.

    “I’m not telling you.”

    Nicholls shot me a wan smile. “Never dull.”

    But minutes later, we ran into Walsh charging at full tilt across the museum roof. He was an unmistakable figure, looking like a middle-aged rock star with his wild silver hair streaming down to his shoulders, sport jacket, distressed jeans and sunglasses.

    “You mind if we do the interview in the car?” he asked me distractedly. It turned out that he had double-booked and needed to travel into Hobart to see an experimental modern opera. “You’re driving,” he added.

    I started the engine and tried to ease into the conversation. (Nicholls had confided to me, “the important thing is to engage him.”) I’d heard that Walsh’s first passion was antiquities, and I’d once written a book on the ancient Olympic Games. So I began by asking about his classical Greek collection. Soon enough, on the highway to Hobart, we were swapping ancient coin stories. He owned an array from Bactria and Athens, and a single coin from Syracuse is the most valuable antiquity in MONA.

    It was a fertile starting point. Walsh explained that his interest in numismatics—indeed, his philosophy of museums—began to develop at age 12. He had decided he was an atheist, so every Sunday morning, after telling his Catholic mother that he was going to church, he went instead to the Tasmanian Museum and Art Gallery, which combines art, history and natural science, and became intimate with oddities such as the bones of a wombat-like dinosaur the size of a rhino, Byzantine coins, and relics from prehistoric Antarctic forests. At the time, his mother was raising him single-handedly in one of the poorest parts of Hobart. “When I was young, the idea of my life turning out as it did would have seemed insane,” he mused, “a fantasy within a kid’s head.”

    Walsh’s prospects improved suddenly in the early 1980s, when some friends at university decided to pool their talents for mathematics to beat Tasmania’s Wrest Point Casino, then the only legalized casino in Australia. They had limited success, Walsh explained, but in the process they figured out how to make steady sums from computerized horse racing. (Gambling is not taxed in Australia; one of Walsh’s partners, Zeljko Ranogajec, the son of Croatian immigrants, is today believed to be the world’s biggest gambler, placing $1 billion a year in bets.) Walsh began collecting art by accident. He was traveling in South Africa with a gambling friend in the early ’90s when he discovered that the government forbade visitors to take out of the country more money than they brought in. He had $18,000 extra cash when he saw a Nigerian wooden door for sale—“a beautiful thing” that cost $18,000. Inspired by his older sister, a Hobart artist, Walsh soon began expanding his collection in a contemporary direction as his gambling fortune grew.

    In 1995, he purchased the riverside winery where MONA now stands and four years later opened a small museum of antiquities. “It looked great,” he said, “but it also looked like every other museum in the world, with schmick [cool] white walls and restrained white cabinets. I wondered: Why did I end up building the same museum as everybody else?” Very few people came. So he decided on a radical renovation.

    The interview had to wait as I parked the car, and we dashed into an old church that had been turned into an avant-garde performance space. Inside, a bohemian crowd was sitting on the darkened floor among dangerous-looking metal sculptures. A hush fell as we entered, and I heard people whispering, “There’s David Walsh.” We were joined on the floor by Walsh’s girlfriend, American artist Kirsha Kaechele, who began massaging his back and feet. We were then treated to an ambitious musical piece that featured discordant operatic singing accompanied by piano, cello and Brian Ritchie on the shakuhachi, a traditional Japanese bamboo flute.

    I had no idea whether this marked the end of our meeting, but after the concert, Walsh suggested we head to a restaurant. He kept talking as he strode through traffic—topics included an esoteric account of how a scientific principle about electromagnetism called the Faraday Effect pertains to modern advertising—and kept up the intense pace after we took a table, continuing without pause for the next two hours. (I later learned that press portrayals of Walsh as a “recluse” receive snorts of derision from those who know him well. As one friend told me: “A dude who hangs out in bars every night of the week and will talk to anyone who approaches him is not reclusive.”)

    With MONA’s high-tech gadgetry, whimsical flourishes and relentless hipster irony, the museum seems to challenge visitors not to take it seriously. But Walsh explained that before he commissioned its design, he toured Europe and the United States to refine his ideas. “The great repositories of Western civilization, such as the Metropolitan Museum in New York, are amazing, but you basically get what you expect,” he said. “There’s nothing that has the capacity to change you or who you are. MONA gives you no appropriate cues about what to expect, so there’s no mind-set we’re driving you into. I’m trying to give you the capacity to explore and engage individually.”

    Walsh argues that his eclectic, personal approach harks back to the era of the Wunderkammer, or Cabinets of Wonders, which would be kept in the private houses of aristocrats from the Renaissance onward to reflect their own tastes. Fine artworks were displayed alongside religious relics, mythological marvels and natural history treasures such as gems, shells or fossils. “In the Wunderkammer, they wanted the mystery to be maintained,” he says. “Their unicorn horns didn’t have labels. They were just objects of wonder.” The cabinets fell out of favor after the popular revolutions of the 18th and 19th centuries, and were replaced by grand national museums like the Louvre, which lay their exhibits out in orderly fashion. (Survivors of the cabinet spirit include Sir John Soane’s Museum in London and the Barnes Foundation in Philadelphia. But there has also been a recent revival of interest in the approach, including the Museum of Hunting and Nature in Paris, “Le Cabinet de Curiosités” exhibit curated by Thierry Despont in New York last November and recent exhibits at the Venice Biennale. The Museum of Jurassic Technology in Los Angeles is another, although with an ironic, self-referential twist.)

    “There is a sense where I’m trying to build an anti-museum,” Walsh summed up, “because I’m anti-certainty. I’m anti-the definitive history of the West. MONA is experiential. It’s not a product. It’s not a showcase. It’s a fairground.”

    Such pronouncements make established curators’ skin crawl. One prominent New York expert refused to even be quoted in case it “validated” MONA’s approach, arguing that the unqualified combining of different period pieces is little more than an expression of a collector’s rampant ego. But other critics suggest that any shakeup of the museum world is not entirely a bad thing. “Much of contemporary art is not serious,” says Hobart-based critic Timms, “but most museums haven’t cottoned onto that yet. The art is given a reverence that isn’t really justified. It’s put up on a pedestal, and people object to that—they feel they are being conned. At MONA, art is entertainment, it’s cabaret, it’s theater. MONA is the world’s first no-bull art museum that says to people, ‘Don’t worry, have fun.’ I’m not sure that’s a good thing, or the sign of a healthy culture, but it’s honest!” He adds: “Of course, a concern is that the more serious artworks there could be trivialized.”

    As for his collection, the emphasis on sex and death is natural, Walsh says, since “all art is motivated by the desire for one or the avoidance of the other. If you went to the Louvre, and explored the works that depicted sex or death, the percentage wouldn’t be any higher than at MONA. If you went into a church, the percentage that depicts death is vastly higher. Sex and death are not my theme. They’re the motives for artists, yes.”

    Still, Walsh admits that he was surprised by the positive response to MONA: “I did expect a fundamentalist backlash.” Walsh’s friends say that the museum’s popularity has obliged him to revise his contrarian attitude. “David really built MONA so he could enjoy it himself,” says Brian Ritchie. “He didn’t think it would be embraced. In fact, he thought he would be reviled for it. I think he was even a little disappointed when he wasn’t! Now he’s moving into a different way of looking at it. He’s enjoying its success.”

    Walsh could have built his museum anywhere, but he stayed in Tasmania, he says, partly because his two daughters from two marriages live there. But he also sees the island’s remoteness as an advantage: “When you travel to something, you’re invested in it more. If I’d built MONA in New York, I would have gotten a lot more visitors. But there’s too much background noise. The glib little jokes that MONA makes would have been lost in the clamor.” When pressed, he admits he wasn’t unaware that there might be a “MONA Effect” for Tasmania. Although statistics have yet to be gathered, he estimates that his museum added 120,000 visitor nights to Hobart in its first year, pumping $120 million into the beleaguered economy. (Walsh himself is losing $10 million a year, but he says he expects MONA to break even within five years.)

    The most significant effect may be psychological. “I think it is changing how Tasmanians see themselves and their world,” says novelist Richard Flanagan. “It is liberating.” According to Peter Timms, “Tasmanians had a self-image problem. They had assumed, right from the beginning of their history, that important things happened elsewhere. But MONA makes people realize that what they do matters, and is admired by others.” The museum crops up in almost every conversation in Tasmania, and has become a prime topic in debates on how the island should manage its future. While the state government still subsidizes the mining and forestry industries, the traditional staples of the economy, conservation forces have been gaining strength ever since the world’s first political Green Party was founded in Tasmania in 1972. According to Hobart-based environmentalist (and Ritchie’s wife) Varuni Kulasekera, MONA proves that there are more viable and creative ways forward: “David is employing 200-plus people, and bringing thousands of tourists to Tasmania, who then fill hotels and restaurants, creating even more jobs,” she says. “There’s not a lot of spinoff activity from a wood-chipping plant.”

    On my last night in Hobart, I went to another Walsh-commissioned theater production, a modern opera entitled The Barbarians that was performed almost entirely in Greek. I sat cross-legged on the floor in a packed theater, which was filled with smoke and pierced by lasers. A naked male dancer emerged from a water-filled trough and began gyrating feverishly to a shrill chorus, as synthesized music echoed through the air.

    It was intense, but I expected nothing less. This was Tasmania, after all.

    Australian-born, New York-based writer Tony Perrottet is the author of five books, most recently The Sinner’s Grand Tour. Photographer Joe Wigdahl lives in Sydney.

     
     
     
     
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  • Facebook’s continued fall has put the social network on pace to be one of the worst large U.S.

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    By David Benoit

    Facebook’s continued fall has put the social network on pace to be one of the worst large U.S. IPO starts in the past five years.

    Bloomberg

    The social network’s much ballyhooed offering was in the midst of its second-straight day of declines, dropping as low as $30.98 today. That would have been an 18.5% drop from its IPO of $38.

    The stock has recovered somewhat, recently down 3% to $33. That also marks a 13% decline from its IPO price, equal to the worst three-day start for an IPO that raised over $1 billion since 2007, according to Dealogic.

    There have been 23 U.S. IPOs over that size since 2007.  Through the first three sessions, only asset-manager Och-Ziff Capital performed as poorly, losing 13% as well, according  to Dealogic. In fact, only seven of the deals ended their first three sessions in the red, the data provider says.

    Facebook would have to fall further to be worst first-week performer, given Och-Ziff ended its inaugural week down 24%. Overall the 23 IPOs averaged a 15.6% gain during their first week, according to Dealogic, meaning Facebook would have to hit $44 by Thursday’s close to catch them.

    Among deals that raised over $500 million since 2007, Facebook would be on pace for the fourth-worst first week, behind Och-Ziff, Orbitz Worldwide and Clearwire. (Orbitz and Clearwire both lost 17%.)

    To be sure, it is only midday Tuesday and Facebook’s shares could rebound.

    But for now, the most-traded IPO in history has gotten off to one of the ugliest starts in recent history.

    Here are the first three days for the $1 billion-plus IPOs since 2007 via Dealogic.

  • Facebook shares continue slide

    May 22, 2012 10:12 AM

    Facebook shares continue slide

     

     (Spencer Platt/Getty Images)

    (CBS/AP) NEW YORK – Facebook (FB) shares took another drubbing Tuesday amid controversy over a report that investment bank Morgan Stanley (MS) reduced its sales forecast for the social networker only days before it went public. 

     

    After Facebook’s stock fell below its initial public offering price of $38 a share in its first two days on the public market, it fell an additional 8.5 percent on Tuesday, down $2.91, to close at $31.12.  

    In the latest setback for Facebook, Reuters reported Tuesday that a Morgan Stanley stock analyst unexpectedly reduced his second-quarter revenue estimate for the Internet company during its IPO “roadshow.” The change of heart occurred after Facebook had issued an amended IPO prospectus. 

    Morgan Stanley was one of three lead underwriters in the $16 billion IPO, prompting some financial pundits to question if Facebook had improperly disclosed the information to the firm, a potential violation of securities law. 

    Facebook stock: Morgan Stanley under fire
    Facebook plunges 11%: Should you buy?

    How low will Facebook’s stock go?

     

    The downward spiral has left some people sitting on big losses, and others scratching their heads. After all, nothing fundamental has changed at Facebook in the days since the much-hyped company came to the stock market — Facebook still has more than 900 million users, its 28-year-old founder Mark Zuckerberg controls the company, and it is still one of the few profitable Internet companies to go public.

     

     

    Facebook’s IPO -like Netscape’s in 1995 and Google’s in 2004- was billed as a milestone moment. Netscape’s offering ushered in the era of the Internet browser. The company’s stock more than doubled in its first day of trading. Google’s IPO heralded the age of search. It posted an 18 percent gain in its stock market debut. Facebook was supposed to offer proof that social media is a viable business and more than a passing fad.

     

     

    IPO Tracker

    31.03 -3.00 (-8.82%)

    But investors don’t seem convinced. Facebook’s stock closed Monday at $34.03, down 11 percent from Friday’s closing price of $38.23. Although many investors had hoped for a big first-day pop, Facebook’s stock opened Friday at $42.05 and fluctuated between $45 and $38 throughout the day.

     

     

     

     

     

    For a host of reasons, the poor initial performance of Facebook shares may not come as a surprise. Its IPO occurred the same week that the markets posted their worse performance so far in 2012. The Standard & Poor’s 500 index fell 4 percent. The news out of Europe also continues to cast a cloud over the markets, with the Organisation for Economic and Cooperative Development forecasting Tuesday that growth in the region would shrink 0.1 percent. 

     

    At the same time, the American public’s love affair with the stock market continued to wane. People have yanked over $400 billion from U.S. stock mutual funds since 2008.

     

    Banks also are being cautious. All this is happening in the backdrop where banks are under pressure from regulators to become more conservative after the financial crisis. “Regulators want banks to take less risk,” said Larry Tabb, founder and CEO of Tabb Group, a markets research firm. “To support a $100 billion offering can be challenging in this environment.”

     

    Thee trading glitches at the Nasdaq stock market on Friday also appears to have spooked Facebook investors. Some traders weren’t sure if their trades had been executed, and trading of the stock was delayed by a half hour.

     

    “It was like trying to get a jumbo jet to take off in turbulent weather,” said Kathleen Shelton Smith, principal of Renaissance Capital, IPO research. “It’s going to be a bumpy ride.”

     

    With all of these factors in place on the day of Facebook’s IPO, some people may wonder why Facebook’s stock didn’t do worse.

     

    The answer: Facebook had some help. On Friday, Facebook only got as low as pennies above the offering price of $38 per share but never fell below. The banks that arranged the IPO, the deals underwriters such as Morgan Stanley and others, put in enough “buy” orders at $38 to keep the price from dropping below that level. It’s a customary gesture from underwriters to support the company they helped bring to market, explains Jay Ritter, a finance professor at the University of Florida. It’s a way to save face and show that the company and the bankers gauged an appropriate level of demand from investors and valued the company correctly.

     

    Pulling off a successful IPO means properly gauging supply and demand. The underwriters work with the company to decide how much stock to sell and at what price. Facebook sold 421 million shares. That was a lot of stock to sell. It is one of the largest IPOs on record.

     

    Investors and the technology industry are closely tracking the Menlo Park, California-based company’s shares. In the same way that Netscape ushered in a new era for Internet darlings in 1995, Facebook may have done the opposite for similar companies waiting to go public today. There are 168 companies in the pipeline trying to raise $41 billion through IPOs in the U.S.

     

    “Facebook has raised cost of capital for all the companies that come with an IPO in its wake,” said Smith.

     

    Facebook’s falling share price may be a sign that investors are taking a rational look at the company’s financial performance in comparison to its peers.

     

    Though there are many ways to judge if a stock’s price is too high or too low, one popular method is to compare it to earnings. The so-called price-earnings ratio, divides a company’s stock price by the company’s annual earnings per share. A higher ratio suggests a stock is expensive because, in a sense, it takes more years of earnings for investors to get back they paid for it. A lower ratio suggests it is cheap.

     

    By this logic, Facebook looks expensive compared to some companies. It is trading at 74 times its earnings in the past year, according to FactSet, a research firm. That compares with Apple at 13.7 times and Google at 18.6 times. The Nasdaq index of technology stocks trades at 20.8 times.

     

    “There must have been some sober second thoughts about this,” said Brian Wieser, an analyst at Pivotal Research Group who was first to come out with a “Sell” rating on Facebook’s stock on Friday.

     

    It’s not that he thinks the world’s largest online social network is a bad investment. But at $38 per share, it’s just too expensive considering the risks associated with Facebook’s brief history and unproven advertising model, he says. His fair price, or “target price,” is $30.

     

    Wedbush analyst Michael Pachter, who came out with an “Outperform” rating on Facebook before its IPO, said he thinks the investment banks that arranged the offering overestimated demand for the company’s stock.

     

    Facebook originally set a price range of $28 to $35 for its IPO, which would have valued the company at $95 billion at the high end. Last Tuesday, though, it increased the price range to $34 to $38 per share, valuing the company at as much as $104 billion.

     

    Then, responding to extraordinary demand from prospective investors, the company announced on Wednesday that it would add 84 million shares to the offering. The shares came entirely from the company’s early investors – such as Goldman Sachs and venture capitalist Peter Thiel. The fact that these investors were offloading more stock instead of hanging on to it may have served as a warning sign to new investors.

     

    “The late addition of 84 million shares to the offering overwhelmed demand, limiting the first day price,” Pachter said in a note to investors.

     

    Aside from rational risk calculations, some investors “un-friended” Facebook for emotional reasons on Monday. Alper Aydinoglu, a student at DePaul University in Chicago sold all 50 shares that he got via Etrade at $38 last week. He racked up an 11 percent loss.

     

    “I’m not willing to stick through the volatility,” said Aydinoglu.

    © 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.

  • Missing girl ‘buried in murdered mobster’s tomb was kidnapped for Vatican sex parties’, claims Catho

    Missing girl ‘buried in murdered mobster’s tomb was kidnapped for Vatican sex parties’, claims Catholic Church’s leading exorcist priest

    • Father Gabriel Amorth, 85, has carried out more than 70,000 exorcisms
    • Previously said yoga and Harry Potter are ‘the work of the Devil’
    • Emanuela Orlandi, 15, went missing in Rome in 1983
    • Gangster Enrico De Pedis’s tomb opened last week after TV show tip-off

    By NICK PISA


     

    Outspoken: Father Gabriel Amorth said the 15-year-old was kidnapped for Vatican sex parties

    Outspoken: Father Gabriel Amorth said the 15-year-old was kidnapped for Vatican sex parties

    The Catholic Church’s leading exorcist priest has sensationally claimed a missing schoolgirl thought to be buried in a murdered gangster’s tomb was kidnapped for Vatican sex parties.

    Father Gabriel Amorth, 85, who has carried out 70,000 exorcisms, spoke out as investigators continued to examine mobster Enrico De Pedis’s tomb in their hunt for Emanuela Orlandi.

    Last week police and forensic experts broke into the grave after an anonymous phone call to a TV show said the truth about Emanuela’s 1983 disappearance would be ‘found there’.

    And although bones not belonging to the mobster were recovered they have not yet been positively identified as hers.

    However Father Amorth, in an interview with La Stampa newspaper, said: ‘This was a crime with a sexual motive.

    ‘It has already previously been stated by (deceased) monsignor Simeone Duca, an archivist at the Vatican, who was asked to recruit girls for parties with the help of the Vatican gendarmes.

    ‘I believe Emanuela ended up in this circle. I have never believed in the international theory (overseas kidnappers). I have motives to believe that this was just a case of sexual exploitation.

    ‘It led to the murder and then the hiding of her body. Also involved are diplomatic staff from a foreign embassy to the Holy See.’ 

    Today there was no immediate response from the Vatican to Father Amorth’s claims.

    But Vatican officials insisted they had always co-operated with the investigation into Orlandi’s disappearance – a claim that her brother has often disputed.

     
    Mobster: De Pedis, left, is believed to have been linked to the kidnapping and murder of Emanuela Orlandi, right, who disappeared aged 15 in 1983
    Kidnapped: Emanuela Orlandi vanished in 1983, aged just 15
     

    Mobster: De Pedis (left) is believed to have been linked to the kidnapping and murder of Emanuela Orlandi (right), who disappeared aged 15 in 1983

    Father Amorth is a colourful figure who in the past has also denounced yoga and Harry Potter as the ‘work of the Devil’. He was appointed by the late Pope John Paul II as the Vatican’s chief exorcist.

    It is not the first time Father Amorth has raised eyebrows with his forthright views – two years ago he said sex scandals rocking the Catholic Church were evidence ‘the Devil was at work in the Vatican.’

     

     

     

    In 2006, Father Amorth, who was ordained a priest in 1954, gave an interview to Vatican Radio in which he said Nazi leader Adolf Hitler and Russian dictator Josef Stalin were possessed by the Devil.

    According to secret Vatican documents recently released the then wartime Pope Pius XII attempted a ‘long distance exorcism’ of Hitler but it failed to have any effect.

     
    Claims: The 15-year-old was kidnapped for Vatican sex parties, it has been claimed

    Claims: The 15-year-old was kidnapped for Vatican sex parties, it has been claimed

    Charismatic mobster De Pedis, leader of a murderous gang known as the Banda della Magliana, was gunned down aged just 38, by members of his outfit after they fell out.

    Detectives investigating the disappearance of Emanuela Orlandi, 15, in 1983, believe De Pedis is linked to her kidnap and the body of the Vatican employee’s daughter has never been found.

    Last month the diocese of Rome, on orders from the Vatican, granted investigators permission to open up the tomb in the Sant’Apollinare basilica close to Piazza Navona in the centre of Rome.

    At the time of his funeral there were raised eyebrows when despite his criminal past church chiefs allowed De Pedis to be buried in the crypt of Sant’Apollinare.

    At the time it was said the burial was given the go ahead because prison chaplain Father Vergari told bishops that De Pedis had ‘repented while in jail and also done a lot of work for charity,’ including large donations to the Catholic Church.

    A burial service truck enters the courtyard of Sant' Apollinare Basilica, in Rome, before the tomb of mobster Enrico De Pedis was opened

    A burial service truck enters the courtyard of Sant’ Apollinare Basilica, in Rome, before the tomb of mobster Enrico De Pedis was opened

    Police officers stand outside Sant' Apollinare Basilica, in Rome, as a priest leaves

    Police officers stand outside Sant’ Apollinare Basilica, in Rome, as a priest leaves

     

     

    De Pedis, whose name on the £12,000 tomb is spelt in diamonds, was buried in Sant’Apollinare church after he was gunned down in 1990 in the city’s famous Campo De Fiori.

    He and his gang controlled the lucrative drug market in Rome and were also rumoured to have a ‘free hand’ because of their links with police and Italian secret service agents.

    The disappearance of Orlandi reads like the roller coaster plot of a Dan Brown Da Vinci Code thriller with a touch of The Godfather thrown in for good measure.

    Twelve years ago a skull was found in the confessional box of a Rome church and tests were carried out on it to see if it was Orlandi after a mystery tip off but they proved negative.

    In 2008 Sabrina Minardi, De Pedis girlfriend at the time of Orlandi’s disappearance, sensationally claimed that now dead American monsignor Paul Marcinkus, the controversial chief of the Vatican bank, was behind the kidnap.

    Forensic police unload equipment in the courtyard of Sant' Apollinare Basilica, in Rome

    Forensic police unload equipment in the courtyard of Sant’ Apollinare Basilica, in Rome

    Monsignor Marcinkus used his status to avoid being questioned by police in the early 1980′s probing the collapse of a Banco Ambrosiano which the Vatican had invested heavily in.

    The collapse was linked to the murder of Roberto Calvi dubbed God’s Banker because of the Vatican links and his body was found hanging under Blackfriars Bridge in London in June 1982.

    His pockets filled with cash and stones and it was originally recorded as a suicide but police believe he was murdered by the Mafia after a bungled money laundering operation.

    At the same time as Minardi made her claim a mystery caller to a missing person’s programme on Italian TV said the riddle of Orlandi’s kidnap would be solved ‘if De Pedis tomb was opened’.

    Following Minardi claims the Vatican took the unusual step of speaking publicly and dismissed her claims about American Monsignor Marcinkus, who died in Arizona four years ago.

    `Missing person: Pietro Orlandi, Emanuela's brother said it was time for the Vatican to come clean about what it knows of Emanuela's disappearance

    Missing person: Pietro Orlandi, Emanuela’s brother said it was time for the Vatican to come clean about what it knows of Emanuela’s disappearance

     

    Read more: http://www.dailymail.co.uk/news/article-2148071/Emanuela-Orlandi-Missing-girl-buried-mobsters-tomb-kidnapped-Vatican-sex-parties.html#ixzz1vd9OEaVt

  • The 1950s housewife on LSD

    BEST VIDEO
     

     

    Newly unearthed footage shows a doctor speaking with a straight-laced woman in the middle of an acid trip. Best interview ever?

    POSTED ON JANUARY 19, 2011, AT 2:00 PM
    This 1950s housewife seems to have encountered a different reality that was "so beautiful and lovely and alive" after taking LSD.

    This 1950s housewife seems to have encountered a different reality that was “so beautiful and lovely and alive” after taking LSD. Photo: YouTubeSEE ALL 7 PHOTOS

    Best Opinion:  Gawker, Death and Taxes

    The video: A recently discovered clip of a 1950s housewife on an acid trip became a viral-video sensation this week. (See video below.) In the eight-minute video, Los Angeles doctor Sidney Cohen administers a dose of acid to a self-described “normal” woman who hadvolunteered to participate in a study on the effects of LSD. Hours after taking a dose of the drug, the woman is clearly in the grips of a hallucinogenic revery, agape at the wonders of the world around her. In a trippy conversation with the doctor, she rattles off a number of memorable observations, such as, “I’ve never seen such infinite beauty in my life.” She also says, “I wish I could talk in Technicolor,” and “I can see all the molecules, I’m part of it. Can’t you see it?” The clip originally aired on television in 1956, when the drug was a still-legal curiosity — years before it became a controversial, and illegal, counterculture touchstone of the 1960s youth movement.


    The reaction:
     ”As every college student knows, says Max Read atGawker, ”there is almost nothing funnier than watching a person try to narrate her acid trips.” But while that hilarity has stayed consistent over the last 55 years, says Carmen Lobello at Death and Taxes, the video is also a reminder of how times have changed. In the early days of LSD, advocates touted its healing powers. For instance, the founder of Alcoholics Anonymous thought the drug could “could be a useful tool for recovering addicts.” But “while dropping acid may feel exactly the same in 2011 as it did in 1956, it’s hard to imagine it being seriously suggested today that the best way to cure addicts is to give them more drugs.” Watch the acid trip in action below:

     

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