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Ferrari gives employees record $5,600 bonus on strong year

Ferrari has got to be a great place to work. In fact, it's named as one of the best places to work in Europe year after year. Add to that the pride of making some of the coolest cars in the business, running one of the winningest teams in all of motorsports (even if the Scuderia isn't doing so well thus far this season) and all around standing for the best Italy has to offer, and you've got the makings of a dream job. And it just got a bit sweeter.
That's because Ferrari has just awarded each and every one of its employees a bonus of 4,096 euros - the most the company has ever paid. That's equivalent to over $5,600 at today's exchange rates, and represents a whopping 20 percent of the annual salary for a recently hired young employee. Following two advances of 1,000 euros each, that means employees will find an extra 2,096 euros in their pay checks this month, which may not be enough to buy a new California T or 458 Speciale, but should finance a nice shopping spree of t-shirts and paperweights at the Ferrari Store or a family vacation to Ferrari World in Abu Dhabi.
The bonuses are part of a deal signed with the union in 2012, but are enabled by record profits reported by the company over the last couple of years. After 2012 emerged as Ferrari's most profitable fiscal year, it moved to reduce production, thereby increasing the value of each new car it sells to drive profits up even higher. Nice work, in short, if you can get it.

Did Ferrari block Montezemolo from becoming F1 chairman?

The Formula One Group has appointed a series of new directors to its board. But while ousted Ferrari chief Luca di Montezemolo is among them, the latest reports suggest that he was earmarked to become the group's chairman, but that Sergio Marchionne blocked the appointment. Montezemolo, for those just joining us, served as chairman of Ferrari since 1991, but was ousted just a couple of months ago by Sergio Marchionne, chief executive of parent company Fiat Chrysler Automobiles who took his place at the head of the table in Maranello. During his tenure as Ferrari chief, Montezemolo sat as the team's representative on the F1 board (and also as chairman of the Formula One Teams Association), but despite having broken ties with Ferrari, Luca was renominated to the board as an independent member. That seat on the board, however, could have been at the head of the table, according to circulating reports, had Marchionne not expressed certain reservations, if not blocked the nomination outright. Montezemolo's appointment would have meant that both the F1 Group and the FIA would have been headed up by former Ferrari men, although Marchionne was quoted as saying that if it had been his call, he would have prevented Jean Todt from being elected to the presidency of the FIA as well. The chairmanship of the Formula One Group is separate from the role held by Bernie Ecclestone, who will continue to run the sport's day-to-day operations. Ecclestone has also rejoined the board along with Paul Walsh, the former head of distilling giant Diageo who was also tipped as a favorite to chair the F1 board. That role instead will return to Peter Brabeck, the former head of Nestle, who had previously stepped down from the chair of the Formula One Group.

Raikkonen likely to retire from F1 after 2015 [w/poll]

Though his irreverent demeanor party-goer image might suggest otherwise, make no mistake about it: at 34 years old (and with 37-year-old Mark Webber out of the race), Kimi Raikkonen is the oldest driver in Formula One. He's three months older than Jenson Button, a good year older than his former wingman Felipe Massa, three years ahead of Adrian Sutil and a good decade beyond the latest crop of up-and-comers on the grid. So it's only natural that we should start wondering how much longer he'll stick around, and now we may have our answer.
Speaking with motorsport journalists at the British Grand Prix this past weekend, the 2007 World Champion and winner of 20 grands prix, Raikkonen indicated that the next season will likely be his last. According to numerous racing news outlets, when asked how long he plans to stay on the grid, the famously terse Finn responded: "Until my contract is finished, and then I will probably stop. That is what I think is going to happen."
Kimi was a relatively unknown entity when Sauber gave him his first drive in F1 back in 2001, upon which he finished in the points on his first race. He moved to McLaren the following season, racked his first podium finishes, and took his first win the season after that. He finishes second behind Fernando Alonso the next season, well ahead of the rest of the pack, and switched to Ferrari two seasons later in 2007, winning the world championship on his first season in red. After just three seasons, Ferrari showed him the door and Kimi left F1 entirely, trying his hand at everything from the World Rally Championship to NASCAR. He returned to F1 with Lotus in 2012, and in a rare move for Maranello, was invited back for this season on a two-year contract.