Mallya gets on the racing track
A man famous for tongue-in-cheek remarks, the flamboyant Kingfisher chairman Vijay Mallya gave the very term syn
ergy, a totally diff erent meaning with one of his now famous one liners, on why he chose to start an airline after succeeding in liquor business. His repartee was, “They both make you fly!” And after he has given Indians some unique lessons in flying, the latest interest of Mallya seems to be speeding up on the race tracks. Lately, Mallya has reportedly invested his personal wealth, worth Rs.5 billion, in the game that the speedsters swear on, Formula 1 (F1), albeit what analysts might consider quite a risky investment in a careworn Spyker Ferrari racing team (losses of about € 29.9 million for the half year ending June 2007). What is racing through ‘King’ Mallya’s mind? The larger question, in fact, is what will Mallya re-christen his new team as, considering he wouldn’t like to conflict his interests, as Kingfisher Airlines has been sponsoring the Toyota team in the F1 seasons already.
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A man famous for tongue-in-cheek remarks, the flamboyant Kingfisher chairman Vijay Mallya gave the very term syn
ergy, a totally diff erent meaning with one of his now famous one liners, on why he chose to start an airline after succeeding in liquor business. His repartee was, “They both make you fly!” And after he has given Indians some unique lessons in flying, the latest interest of Mallya seems to be speeding up on the race tracks. Lately, Mallya has reportedly invested his personal wealth, worth Rs.5 billion, in the game that the speedsters swear on, Formula 1 (F1), albeit what analysts might consider quite a risky investment in a careworn Spyker Ferrari racing team (losses of about € 29.9 million for the half year ending June 2007). What is racing through ‘King’ Mallya’s mind? The larger question, in fact, is what will Mallya re-christen his new team as, considering he wouldn’t like to conflict his interests, as Kingfisher Airlines has been sponsoring the Toyota team in the F1 seasons already.For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2007
An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative
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