SIR Richard Branson....
03-29-2009, 01:26 PM
#1
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SIR Richard Branson....
So I'm sitting here watching Formula 1...Virgin is sponsoring an F1 Car. I thought you guys were running out of money. What gives? lol, Branson gone mad?
03-29-2009, 02:30 PM
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I didn't think virgin was running low on money, i thought virgin AMERICA was potentially going to have some $ issues in the future. Also, don't think branson is broke enough to not have money to play with on car racing, nor funding Virgin Galactic.
03-29-2009, 05:28 PM
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Originally Posted by flynavyj
I didn't think virgin was running low on money, i thought virgin AMERICA was potentially going to have some $ issues in the future. Also, don't think branson is broke enough to not have money to play with on car racing, nor funding Virgin Galactic.
03-30-2009, 05:08 AM
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Originally Posted by rickair7777
Correct. Virgin and Sir Richard have plenty of dough...the problem is that he is not allowed to funnel it indiscriminately into VA. He has to comply with the our foreign ownership limitations.
It's been said that he's now semi retired and spends a great deal of his time with his family on Necker island. Having over 200 firms in the Virgin group means he doesn't have much span of control at VA which is one of his smaller interests.
I think he's keen on Va but it's only a small piece of his empire. He's let firms fall by the wayside before in order to chase better opportunities. His executives are always requesting capital for new ventures so who knows. Having the 49%/25% restriction doesn't help VA. Branson has a lot of $$$ but VA can't get their hands on it.
There is certainly no money in what they are doing at the present time and historically Branson has become tired of that very quickly.
He's not your typical airline executive.
AL
Last edited by alvrb211; 03-30-2009 at 05:20 AM.
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