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nothingelsematterswrites · 2 years ago

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Because I'm feeling petty, and it is the anniversary of The Tweet That Rocked The Grid, I decided to compile the most important piece of Oscar Lore.

I present to you: the most complete timeline of how alpine fucked up their handling of oscar piastri, aka, the piasco, to the best of my knowledge

(information compiled from multiple sources)

March 2021: Oscar Piastri makes his F2 debut in Bahrain, at the first round of the season. He immediately makes a splash by finishing fifth in the first sprint race and winning the second.

May 2021: Monaco. Oscar again impresses, collecting an 8th and two 2nds (including one in the feature race). Meanwhile, in Formula One land, Laurent Rossi offers a four year deal to Esteban Ocon, which he signs.

Rossi did not consult with any of the Alpine board about this offer, which is unprecedented for a driver who had not yet even won a race and unusual even for a race-winner who was not a champion.

What this does do, however, is effectively block one of the Alpine seats until 2025.

June-July 2021: Oscar continues to collect consistent points finishes at Baku and Silverstone, including podiums, keeping him in the championship hunt.

August 2021: Esteban Ocon wins the Hungarian Grand Prix.

September 2021: Oscar and Daniel win in Monza on the same day, with Oscar taking out the F2 feature race on the same day Daniel wins the Italian Grand Prix. Oscar follows this with another feature race victory in Russia, solidifying his points lead.

It is about this time that Alpine sit Oscar and Mark Webber down and explain that no matter what Oscar does now, he will not be in F1 next year. Alpine will have him as a reserve driver only and will not make the effort to put him in a race seat, despite Williams publicly saying they no longer require the money Nicolas Latifi brings in and are open to other drivers for 2022.

November 2021: Alfa Romeo announce that Zhou Guanyu, third place in the F2 championship, will be replacing Antonio Giovinazzi for 2022. This causes quite the uproar, as many despise the idea of Zhou getting a seat before Oscar, the talented rookie champion-elect.

The Piastris (Oscar and his father Chris) and Mark sit down with Alpine and agree to terms for 2022 and beyond, outlined in a terms sheet. This terms sheet is not a contract, but an agreement to sign a contract. The terms sheet outlines that Oscar will be the Alpine reserve driver for 2022; that he will be given practice sessions, certain private tests, and two FP1 sessions; and that Alpine guarantee him a seat on the 2023 grid, presumably with Williams. The terms sheet specifies that the actual contract will follow in 10 business days.

December 2021: Oscar wins the F2 championship in Jeddah after winning the second sprint race and the feature race. He then follows this up with a podium in sprint race one and a win in the feature race at Abu Dhabi, only serving to make Alpine look even more stupid. He is announced as the reserve for Alpine for 2022 and participates in the end of season test for Alpine.

No contract has appeared.

January 2022: Mark follows up with Alpine about the reserve driver contract, and is told, "it's coming".

No contract has appeared.

February 2022: Mark begins to hassle the legal team at Alpine about the contract. At some point, he has an exchange as follows: "I can't keep telling them that the contract is coming." The lawyer replies that she is the only one in the entire legal department, and that she has to do everything before the season starts.

No contract has appeared.

March 2022: During pre-season testing, Daniel Ricciardo tests positive to COVID-19. Alpine make arrangements with McLaren that if Daniel is not fit for Bahrain, Oscar will drive for him. Oscar still does not have a contract at this point. Alpine realise that without a contract, he does not have a superlicence (thereby making him ineligible to drive even if Daniel isn't fit.)

Panicking, the lawyer in Alpine's legal department writes "legally binding" across Alpine's copy of the terms sheet and submits that to the FIA in order to grant him his superlicence.

Five days before the Bahrain Grand Prix, Oscar Piastri finally sits down and signs a contract with Alpine to be their test and reserve driver for the 2022 season. This contract very explicitly only covers 2022, and does not contain any provisions for 2023.

Daniel finishes 17th in Bahrain, ahead of Lando Norris, and is running ahead of Norris and in the points when his gearbox fails in Jeddah.

April 2022: Oscar fulfils his duties as test and reserve driver, including being paraded around in Australia. Daniel finishes 5th in Australia after a nasty team order keeps him behind Norris' ailing car. At Imola, he is sixth in the sprint, only just behind Norris, but finishes 18th in the race after an uncharacteristically clumsy T1 move.

May 2022: Oscar conducts a private test with Alpine at Paul Ricard, using the 2021 car. No times are published, but there is a whisper on social media from the spectators who were there that Oscar was faster than Esteban Ocon had been the previous year. Daniel finishes 13th at the race in Miami after mechanical issues in qualifying and strategy issues in the race, which Andreas Seidl publicly apologises for. He finishes 12th at Spain, due to a broken rear end (which McLaren do not acknowledge until several days after the race).

After the Spanish Grand Prix, Zak Brown conducts an interview where he calls Daniel "disappointing" and lays the blame for their substandard results squarely at Daniel's feet. Daniel is then harassed by the media all through the Monaco weekend, where he finishes 13th.

It is also about this time that Alpine begin to publicly state that they are courting Fernando Alonso for a contract extension for 2023, meaning no seat will be available for next year at Alpine.

June 2022: It is about this time that Zak Brown begins shopping Daniel's seat behind his back. There are several interested parties involved, including Alex Palou and Pato O'Ward of Indycar.

Alpine continue to insist to Mark and Oscar that the 2023 deal is in progress. However, at about this time, rumours start to fly that Oscar is going to replace Nicolas Latifi at Williams after Silverstone. Williams angrily deny this, stand by Latifi, and publicly state that they are done being used as a dumping ground for other teams' juniors when they have their own - a seemingly firm statement that Oscar will not be welcome while he is attached to Alpine.

Mark makes contact with McLaren, and negotiations begin.

5 July 2022: On this date Oscar Piastri signs his contract with McLaren. The contract is initially as a reserve driver with mechanisms to make him the race driver if McLaren can negotiate an exit with Daniel. Oscar informs Otmar Szafnauer and Laurent Rossi shortly afterwards, and does so a second time at some point in the next three weeks.

11 July 2022: Zak Brown states to the media that Daniel Ricciardo will be driving for McLaren in 2023. About this time, Daniel visits the factory, and makes a tearful, impassioned promise to the team members that he is working incredibly hard and will be driving for them next year.

28 July 2022: Sebastian Vettel shocks everyone by announcing his retirement from Formula One at the end of the season, throwing the grid into disarray.

30 July 2022: Lawrence Stroll contacts Fernando Alonso and offers him the drive for next year. Unlike Alpine, Lawrence does not hesitate to put a paper contract in front of Fernando, and offers him a 2+1 deal where Alpine had been pondering a 1+1. Fernando, tired of the games of Alpine, signs immediately.

1 August 2022: Aston Martin announce that Fernando Alonso will join the team from 2023.

Either 1 August 2022 or 2 August 2022: Otmar Szafnauer corners Oscar in the simulator, in front of several other Alpine staff, and informs him he has the Alpine drive in 2023. Oscar is aware that if he challenges Szafnauer he will make a scene and does not say anything.

2 August 2022: Alpine announce that their 2023 driver lineup will consist of Esteban Ocon and Oscar Piastri. Eagle-eyed fans note that there are no quotes from Oscar in the press release, which has a very strange vibe. They are right, because...

A few hours later, Oscar sends The Tweet. There is immediate uproar.

August 2022: Otmar Szafnauer and Laurent Rossi proceed to go on a smear campaign against Oscar, calling him disloyal and questioning his integrity. Even other team principals (unwisely) get involved, despite not knowing the full story. Alpine is threatening court action, and the matter is scheduled for a Contract Recognition Board hearing. Oscar and Mark do not say a word, and nor do McLaren, who everyone assumes is the team that got him.

24 August 2022: McLaren announce that they have agreed with Daniel to part ways for the 2023 season. They do not announce his replacement and Daniel does not have a drive for 2023 arranged.

2 September 2022: The Contracts Recognition Board hearing takes place. Alpine are savagely humiliated as the full extent of their incompetence is laid bare. The mediators express their clear disdain for Alpine's actions, including their incredulousness that a lawyer possibly thought it acceptable to write "legally binding" on a terms sheet, the fact that the lawyer had pleaded with Laurent Rossi for more help several times and Alpine's "shilly-shallying" over even getting Oscar his reserve contract, let alone a race one. They find that the only valid contract Oscar had for 2023 was the one with McLaren, and Alpine are ordered to pay Oscar's, Mark's, and McLaren's costs.

After all of their bluster and slander, it turns out that Otmar Szafnauer and Laurent Rossi genuinely believed the terms sheet was a contract that entitled them to Oscar's services for 2023.

Alpine fire the lawyer. (So I guess nobody is in their legal department, now?)

#oscar piastri #op81 #formula 1 #f1blr #the timeline #the piasco #as you can see there are not enough words for how badly alpine FUCKED THIS UP

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formulatrash · 6 months ago

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what do you think about formula e seemingly wanting to replace all of their street circuits in the calendar with permanent tracks? it feels like it’s starting to lose its street circuit racing identity already (and, that’s more of a personal opinion, but the permanent track racing feels like it has been much worse, it just doesn’t suit formula e cars at all)

it's very odd, at a point when F1 can't stop adding street tracks specifically to get hype venues and big-ticket promotional races, Formula E is hiding itself further and further away in permanent circuits.

they're sort of doing it for the same reasons, is the funny thing. little circuits will host FE much cheaper than the immense cost and logistics of building a street track and the lower the bill, the bigger likelihood a local business or tourist board will foot it. for F1, the cost of building a new, permanent facility is so staggering even oil states would likely baulk at it now. Yas Marina has cost over $1.3 billion so far, which Abu Dhabi can foot but isn't small change even for them and has led to other programmes being focussed around re-using and extracting value from the facility. (like the autonomous racing thing I was at earlier this year)

not that street tracks come much cheaper but you can build them faster, for an instant gratification on that investment.

F1 can boast massive figures for what a city stands to gain for hosting a grand prix. $449 million additional spending for Miami, for instance. Formula E... cannot throw around those numbers. it's not really a tourism draw and personnel are limited. so to go to a facility that desperately needs events, with an audience reliant primarily on local interest, means it can show an impact. FE claims that it brought an $84 million boost to the Hyderabad economy, for instance but a lot of that will have been in circuit construction.

so the financials add up. but also FE is supposed to be its own, distinct, world championship with a high profile not "F1 but it's electric and goes to lower grade circuits."

if a series does not have a profile of sufficient size, it has no hope of selling out venues. this happened to F1 - Silverstone didn't use to sell out at all, you could walk up to the gate and buy a ticket and I'm talking, like, 2016 not 1994. it took a long pathway of turning its visibility around to reverse that and yes they hit lightning in a bottle with DTS during lockdown but even things like social media had been a huge start in undoing a long, regressive slide into an ageing, shrinking fanbase.

FE cannot be small. manufacturers like Porsche are not in it for it to be small - yes, it is a useful test laboratory for regen but with long periods of homologation for powertrains, the marketing has to be a significant part of the draw. and you also need, reasonably, to be able to succeed: a manufacturer's board will not keep signing off on a racing budget, however small, if there are no or frustrating results on track. and no marketing function.

I know I've been saying this for years but it's still true: FE needs to keep developing itself, keep acting like a startup (since it is one) and continue to grow. ever since COVID it feels as though the championship just said "ah well, this is what we are now" and decided it wouldn't try to progress anything any further. it's a very odd lack of ambition for what could be such a hugely important series both to OEMs and fans.

#fe asks

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theresa-of-liechtenstein · 1 year ago

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astute followers of the Wild and Wacky Adventures of Em the Jumped-Up Busker will note that i did not have anything unhinged to share yesterday. however this was not due to a lack of Moments. au contraire, there were simply so many Moments that i collapsed directly into bed and knocked out as soon as i returned to my apartment

ACT 1: the practice room

curtain opens. i am taking a break in a practice room about an hour before rehearsal (read: scrolling through tumblr) with the third movement of the bach concerto in a minor on the piano

am just about to give up on practicing and go eat my snack (makeshift charcuterie board comprised of prosciutto and cheese) somewhere on the ground floor when someone raps on the door.

i whip around, hastily burying the evidence (closed tumblr), to find my favorite honors professor/newest section member squinting in at me through the tiny window in the door

i open the door for her and tell her i was just about to leave to have a snack. she then goes ‘you can eat in here. i wanted to see what you were working on’, takes out her violin, and starts playing my solo rep better than i’ll ever play it

‘last time i played this was thirty years ago,’ she says to me, matter of fact

also mentions to me: ‘i saw the assistant principal viola in my class. got startled! they never talk to me…’

me: ‘i’m not really sure you realize that you’re kind of intimidating to people.’

ate honorsprofessor: ‘me? really?’

me: ‘yes! (somehow received some boldness in the moment) you even intimidate me, sometimes’

ate honorsprofessor, shooting me an affectionately exasperated look: ‘em, you would be intimidated by a mouse.’

I MEAN????????? WHAJAHWJWHAKAHAKWIWOAIOW?????????????? READ FOR FILTH???????

tl;dr 1: apparently got harana-d by ate honorsprofessor

ACT 2: rehearsal

tita conductor begins rehearsal by advertising the choirs’ concert the following week (she also directs them on top of the 1937017292820281 other things she’s been doing in the department for god knows how long)

pointedly finishes off with ‘and if any of you are ever interested in singing, let me know; i find that my instrumentalists who also sing bring a lot of knowledge with them, and it can do nothing but good for you here. i treasure my instrumentalist singers with my heart’

[harp noises to signal a flashback to the past][echoing voiceover from f1 journalist asking a question at the 2014 abu dhabi grand prix: ‘gentlemen, a short view back to the past…’]

in the google form for audition sign-ups we were asked to name any previous ensemble experience. not knowing that tita conductor also was in charge of the choirs, i put down my single year of high school choir as an alto 2

my (zoom) audition was. interesting. tita conductor thought i took my slow movement of the handel sonata in d major too slow. i tried to justify my tempo. until i realized i was contradicting an Authority Figure, immediately felt a wave of Asian Shame, shut my mouth, and instantly thought i had fucked my chances of getting a spot

at that point i just remember something clicking inside me, a feeling of serenity like nothing i had ever experienced before, and a voice telling me, ‘you’re not going to get it. just play.’

i was so dead set thinking that i’d screwed up that i was genuinely surprised that she offered me a spot—even more so when she immediately followed it up by beaming at me and saying ‘great! now would you like to sing for me?’

i spluttered at her for what felt like several hours before saying what i thought was ‘sorry, come again?’ but came out as ‘uh huh whuh?’

tita conductor: i have here that you’ve done choir :)

me: umm. i’m not really prepared for that… and i can only fit one ensemble into my schedule

tita conductor: oh. well, okay :(

[harp noises to signal a return to the present]

i very assiduously avoid eye contact.

other tita conductor rehearsal moments:

‘i am a very good human metronome’

[misjudges how much podium she has left and accidentally totters off of it while trying to cue] ‘oops, gone overboard!’

[screws up a few things in rapid succession] ‘ooh, i could have been much better at conducting that, sorry! (adds, sotto voce) it is very important for your conductor to admit when they’re wrong.’

‘Seconds!’ [we play a thing] ‘YES, seconds!’

ACT 3: rehearsal, the aftermath

as everyone clears up, principal viola approaches me to discuss a bowing for the brahms. assistant principal viola (one of my friends in orchestra) is also hanging around to watch

principal viola has discussed bowing with me once before, for the mendelssohn; their ideas are usually sensible and they seem more experienced than me (master’s student)

they propose that at rehearsal tempo (excessively slow) we take two bows in a phrase that usually takes one (i have been doing it on one bow even at the rehearsal tempo. because i slow down my bow.)

they also tell me that i have been cuing in with the first violins on a spot where we, in fact, do not come in with the first violins (i.e. a beat early). the latter of which i immediately write in, embarrassed.

ate honorsprofessor wanders up behind me as i discuss with principal viola, and as we continue to talk, tita conductor comes over, looks at what we’re doing, hurries off to grab her score, and puts herself between me and my stand, effectively putting me in a middle-aged woman sandwich

tita conductor: ‘i see my predecessor—and this is probably thirty years ago—has put bow markings in parentheticals breaking that into two, so i’m not sure…’

me: ‘oh, no that was me. i just wrote that in now.’

tita conductor: ‘oh. well… why?’

she hears out principal viola and says ‘could you not just… bow slower?’ LANWJWKWHWJS HELP???? but also yeah. i would just bow slower. it’s harder to unlearn bowings later on

ate honorsprofessor pipes up: ‘i like putting that whole phrase on an up bow instead of a down, so the next phrase comes lighter’ and demonstrates

i make a note of it (i still have not yet decided anything about that btw.)

principal viola: and also i was just saying that they come in with the firsts when they don’t

tita conductor: [silently points to the note i made in the margins that says ‘NOT with V.1’

me, panicking: ‘oh i wrote that in. just now.’

tita conductor: [turns back to look at me, smiling gently] ‘no, i’m saying it’s very good. it’s good to make a note of that.’

we wrap up our discussion and i begin heading back to my stuff

ate honorsprofessor is still fucking around with the third movement of the bach in a minor and teases as i approach ‘look what you did, em 🙄🙄🙄’

i get the distinct feeling i should play along and protest ‘excuse me!! what did i do!!’

ate honorsprofessor, playing right back: ‘oh you Know what you did!’

me: ‘i absolutely do not! i don’t know anything i’ve done since… october 2!’ (when i got offered the position)

ate honorsprofessor: ‘well, what about what you did january 11, huh?’

me, now genuinely confused: ‘wait, what happened january 11?’

ate honorsprofessor: ‘are you serious? honors 150. first day of class. when i met you.’

atehonorsprofessor then tells assistant principal viola about us playing the bach double together earlier this year

now you may be wondering, where is tita conductor throughout all this?

well, she was very interestedly examining the wall near the door to the early keyboards room, which opens off the rehearsal hall.

so, eavesdropping. as usual.

tl;dr 2: too many things had happened in the space of three hours and i was in no state to go to my last class of the day so i instead fed the assistant principal viola some of my beef stew and skipped class

if you managed to get to the bottom of this you deserve a prize idk.

i served yesterday btw.

#em jumped up busker #LIKE OHHH MY GODDD. WHAT THE FUCK WAS YESTERDAY 😭😭😭

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raikkonenvettels · 5 months ago

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you want history? i’ll give you history!!! (yes it’s simi 101 again and yes, it’s still relevant, clearly)

preface → 2003: seb in the ferrari garage and (possible) first meeting? (there is an italian article from 2013 where kimi says they have been friends for ten years. is it an hyperbole? probably but it's very interesting)

2006: they were friendly from 2006 (info found in a finnish article from 2019). this confirms the earlier theory for sure honestly (aka they met). maybe they didn't see each other that much but they certainty knew each other (courtesy of michael maybe? but this is just speculation don't mind me)

2007: you all know what i'm going to say and i will say exactly that. kimi was the ONLY driver to look at seb in the eyes and to respect him from day one. also he took the drinks for him when the other drivers wanted to see seb drunk and embarrass him (kimi as a knight in a shining armor my absolute beloved <333 what a gentleman)

2008: i know it's stupid but seb was asked to choose between felipe lewis and robert kubica for who he would support in the championship fight and he said kimi. the crush was definitely showing

2009: seb going to the finland rally aka kimi's first rally and specifically waiting for him in the tent. kimi's smile as he sees him while he descends the stairs is priceless <3 (also seb followed kimi's whole race from the helicopter. he said it was a cool experience. yes i saw the video of him explaining how it was to be on a heli on tik tok iykyk)

2010: gay longing T™ (seb saying his only friend on the grid was kimi but he went away. poor baby give him back his man. also saying that kimi inspired him to win his championship)

2011: even more gay longing T™ (the autosport awards where seb was about to say he loved kimi and did his impression. just normal dudes things)

and yes, they saw each other while kimi was away from f1!!! as i posted in another reblog, seb said he tried to spend as much time as possible with kimi!!! so yes, they also made an effort to be together, isn’t that beautiful?

2012: the whole season BUT PARTICULARLY. seb saying he had missed kimi and he is happy he is back. china 2012 (seb taking the secret elevator to kimi's room). whater the fuck that abu dhabi podium was (save nando pls)(they literally went crotch to crotch in that one idk what to tell you). also after the bahrain race where seb looked like he was going to devour kimi whole. you know just normal stuff

2013: singapore gp 2013. also kimi partying hard at seb's championship party after having a fight with lotus (and most probably fucking that twink). also also kimi being the only person to alway and i mean always defend seb from the media and telling them seb is an amazing guy, always humble etc etc (everyone and i mean EVERYONE hated seb. all of the media too). ah and also "i prefer kimi" we get it babygirl you want kimi as a teammate. we get it. WE GET IT STOP SAYING IT IN EVERY SINGLE PRESS CONFERENCE.

2014: kimi saying seb is doing amazingly with the car he has even if he is struggling meanwhile everyone else was piling up insults at him. yeah. also their press conferences and driver pared were particularly gay this year (cue that one photo where the ferrari mechanics stare longingly at them while they are walking super close to each other. what a time to be alive)

2015: well...the whole reason seb signed for ferrari in particular (apart from the fact it's ferrari) was most probably because of kimi and their amazing relationship. also singapore 2015 anyone? (they were so gay in that one, press conference where they looked about to kiss al the time and everything else. do i have to remind you all about the pit board thing?). also this is the year of seb's denial (it did not work we all know he is gay for that man)

2016: the quiz ferrari did in monaco and seb knowing kimi's lap record. ok FANBOY. also idk if it's from this year but seb saying that if he wasn't in f1 he would be a kimi fan? i'm connecting the dots (he is insane about that old man). also china 2016 and seb apologizing to kimi. ALSO THEM HAVING A DATE LOOKING AT THE SUNSET AFTER THE RUSSIAN GP WITH WINE (and no i am not joking this actually happened)

idk how i forgot to mention here that kimi literally decided to stay in f1 (bc he wanted to retire after 2015) most definitely because him and seb worked so well together so he decided to stay with him <333 true love wins!!!

2017: hungary 2017. need i say more? no but i will because honestly this being after monaco 2017 aka the race where kimi was PISSED (and rightfully so) for not having won AND he defended seb from the mercs willingly (seb had a problem to the streering wheel) and THEN seb not only said "thank you for helping me" in the cooldown room but also he does THE most iconic thing in the herstory of the sport and just. takes kimi's hand on the podium. in front of literally everyone. in a homophobic country. and kimi just let him. iconic, no one will ever be like this

ah, communication <3

2018: seb is still on about how he prefers kimi as his teammate. also him being tricked into signing for ferrari for another two years because they told him kimi was going to be with him only for elkann to ruin everything (as he does)(also yes mauri wanted to sign kimi again. he gets it)

ALMOST FORGOT THE GALA FROM THIS YEAR ANDNSN. not but fr kimi being just so supportive of seb here and never leaving his sode for the whole evening does something to me and it should do something for you too bc that’s true love

2019: "i'm not in love with kimi so i can't say i miss him. but i do miss him" i don't think sebastian vettel realizes the more you say something isn't true the more it sounds like it is true (bc it is)

2020: possibly the year seb decided his relationship with kimi was going to be kept more private? also them deciding and going back from the australian gp together before anyone had even said it was cancelled. my iconic kings

2021: a lot of many different little moments (and seb still holding the umbrella for him, just like he did in 2008 and through their whole time together) + the retirement party speech. yes i do cry about it seb knows him so well and kimi looking at the screen??? i cry about it EVEN MORE

2022: monza gp. i know i might sound crazy but they definitely met and we just didn't see it bc seb's kids were there it has been said seb took his kids to more races towards the end of the season/in this season in particular). also the behind the grid episode!!! (kimi being the biggest natural talent. that he doesn't want to say they have a bond (they have))

2023: kimi being the only retired driver seb followed on instagram (mick is not included bc he didn't exactly retire) and it stands true to this day :). ah and btw kimi, follow him back pls i know you love him showing tits for you but come on king

2024: "wdym this year??? we didn't get anything this year-" WRONG YOU'RE JUST NOT DELUSIONAL ENOUGH. i'm considering them being in the nordic regions at the same time a simi moment. they are old men in love yadda yadda yadda

and once again, this is just the 10% of all their history, look at all the propaganda we did under this post for more too!!! so yes, of course VOTE SIMI!!! HAVE SOME RESPECT FOR THE SECOND COMING OF SUNSHINE GERMAN AND GRUMPY FINN!!!

THE FINAL

#we truly used to be a proper country here but alas #i love lore so you already know i had to do this again and add more stuff #so yes vote simi!!! your vote counts!!! we shouldn’t let ourself be insulted!!!#let’s go guys!!!#also ik i said last one but spite is fueling me rn so akdjsk

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mega-govind · 8 months ago

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Aesthetics: The use of External wall cladding Abu Dhabi can enhance the visual appeal of a building. Cladding materials come in a variety of colors and textures, allowing architects and designers to create unique and attractive facades.

Durability: External wall cladding materials are designed to withstand harsh environmental conditions and have a long lifespan, making them a cost-effective investment in the long run.

Popular Materials for External Wall Cladding:

Metal Cladding: Metal cladding is a popular option for commercial buildings due to its durability and low maintenance requirements. Aluminum and steel are the most commonly used metals for cladding.

Timber Cladding: Timber cladding is a natural and sustainable option that provides a warm and inviting look to a building's exterior. However, it requires regular maintenance to prevent decay and insect damage.

Brick Cladding: Brick cladding is a traditional and durable option that is commonly used for residential and commercial buildings. It provides a classic look and requires minimal maintenance.

Stone Cladding: Stone cladding is a premium option that provides a high-end look to a building's exterior. It is durable and requires minimal maintenance, making it a popular choice for luxury homes and commercial buildings.

Conclusion:

External wall cladding Abu Dhabi is an important aspect of building construction that provides protection, insulation, aesthetics, and durability to a structure. Choosing the right cladding material is essential to ensure the desired look, performance, and maintenance requirements. Consult with a professional architect or builder to determine the best option for your building's specific needs.

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cleverhottubmiracle · 16 days ago

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OMV and ADNOC announced the signing of a binding agreement for the combination of their shareholdings in Borealis and Borouge into Borouge Group International. ADNOC has also entered in a share purchase agreement with Nova Chemicals Holdings GmbH, an indirectly wholly owned company of Mubadala Investment Company P.J.S.C. for 100 percent of Nova Chemicals for an enterprise value of USD 13.4 billion. ADNOC and OMV have also agreed that upon completion of the combination, Borouge Group International will acquire Nova Chemicals further expanding its footprint in North America.OMV and ADNOC will merge Borealis and Borouge into Borouge Group International and acquire Nova Chemicals for $13.4 billion, creating the fourth-largest global polyolefin group. Borouge 4 will be added in 2026 for $7.5 billion. The new entity, headquartered in Vienna, will target $7 billion annual EBITDA, strong synergies, and a dual ADX/ATX listing, with equal governance by OMV and ADNOC. Once fully operational, Borouge 4 is envisaged to be retransferred to Borouge Group International at the end of 2026 at cost, estimated to be approximately USD 7.5 billion. When combined, the three highly complementary world-class businesses will create the fourth-largest global polyolefin group with equal shareholdings by OMV and ADNOC. The acquisition of Nova Chemicals, a North American-based polyolefin producer and a leader in advanced packaging solutions and proprietary technologies, will further strengthen Borouge Group International’s presence across the Americas and increase its exposure to advantaged feedstock. Borouge Group International will be uniquely positioned to create value and generate superior through-cycle shareholder returns, supported by synergies and a strong pipeline of organic growth projects. Alfred Stern, Chairman of the Executive Board and Chief Executive Officer of OMV, said: “These landmark transactions represent a momentous step for OMV. They will accelerate our growth strategy in Chemicals and support OMV’s transformation into an integrated sustainable chemicals, fuels, and energy company. Together with ADNOC, our strategic partner of 25 years, we are creating a global polyolefins leader, exceptionally positioned for value creation by accessing the largest and most cost advantaged markets. We aim to significantly increase the sales volumes of innovative polyolefin premium products and be at the forefront of renewable and circular economy solutions. Together, OMV and ADNOC will build on a versatile and future-proof product portfolio and pursue significant organic growth opportunities. Most importantly, today’s agreement secures material synergies and long-term sustainable value creation for OMV’s shareholders. ADNOC and OMV have already proven that we are stronger together. We are convinced that we will unlock superior shareholder value on our joint path forward.” His Excellency Dr. Sultan Ahmed Al Jaber, ADNOC Managing Director and Group CEO, said: “These transformative transactions mark a pivotal milestone in ADNOC's global chemicals strategy as we deliver on our international growth mandate. Building on our 25-year strategic partnership with OMV, we will create a new industry powerhouse, with a portfolio of premium products, cutting-edge technologies and worldwide market access. The visionary combination of Borouge and Borealis and acquisition of Nova Chemicals, further future-proofs ADNOC and solidifies Abu Dhabi's status as a leader in the chemicals sector, as we seek to meet the growing global demand for chemicals and associated products, while driving value creation and growth opportunities for our shareholders." Landmark transactions to deliver growth and value creation Under the terms of the transactions, Borealis and Borouge will be combined, with OMV injecting EUR 1.6 billion in cash - to be reduced by dividends paid out until completion - into Borouge Group International to equalize shareholdings. The NOVA Chemicals transaction will be funded through acquisition debt, which is expected to be refinanced in the capital markets. The valuation implies an Enterprise Value to EBITDA multiple of around 7.5 on the basis of an expected through-the-cycle EBITDA of USD 1.8 billion. It is envisaged that Borouge Group International will raise up to USD 4 billion on the equity capital markets to achieve relevant MSCI index inclusion and augment an investment grade credit rating with a through-the-cycle net leverage target of up to 2.5 times EBITDA. Borouge 4, the ethylene and polyethylene expansion project to Borouge’s production facilities in the UAE, will be developed outside of Borouge Group International. It is envisaged to be recontributed to Borouge Group International at the end of 2026 once fully operational, for an estimated USD 7.5 billion from OMV (30 per cent share) and ADNOC (70 per cent share). The project is expected to provide a through-the-cycle EBITDA contribution of around USD 900 million per year. Well positioned to benefit from global demand growth The new company will benefit from significant global scale, access to low-cost feedstock, a high share of innovative and differentiated products, best-in class technical and innovation capabilities, and a unique portfolio in sustainable and recycling solutions. On a proforma basis between 2020 and 2024, Borouge Group International would have had on average EBITDA of USD 4.5 billion and an EBITDA Margin of 26 per cent. The through-the-cycle EBITDA of the Borouge Group International is expected to grow to more than USD 7 billion per annum with significant contributions from existing growth projects and the extraction of synergies. It brings together three highly complementary regional leaders with more than 11,000 employees, a proforma polyolefins capacity of 12.2 million tonnes p.a. and olefin capacity of 11.4 million tonnes p.a.. Borouge Group International will be geographically well balanced, with established leadership positions in key markets and access to attractive and high growth regions, including the Americas, Europe, Asia, and the Middle East. Borouge Group International will benefit from a strong pipeline of near-term organic growth projects. It will also be able to leverage Borealis’ and Nova Chemicals’ expertise to increase its share of premium grade products in growing industries. In addition, it will leverage Borealis’ unique technology portfolio, to meet the growing market demand in key sectors. This includes Borstar, a unique process and catalyst technology enabling molecular design, Borlink, which helps linking grids and energy sources regionally and globally, Borceed, a technology needed for closing the gap between classic thermoplastic products and rubbers, as well as Borcycle, a recycling technology closing the loop on plastic waste. Nova Chemicals’ technologies include the Advanced SCLAIRTECH process, combining innovations in reactors and catalysts to produce premium polyethylene resin, and SYNDIGO, a mechanically recycled food-contact resin for the food packaging market. With more than 16,500 granted patents, Borouge Group International will have a competitive advantage through its leading technological expertise, innovation and R&D capabilities. Its cost advantaged feedstock position will account for approximately 70 per cent of its production capacity. Demand in polyolefins is expected to grow globally at a CAGR of 3.7 per cent between 2024-2035. This is being driven by higher demand growth regions and megatrends including population growth, healthcare and hygiene demand, materials needed for the energy transition, food waste and scarcity, as well as water access and sanitation. Equal governance rights between OMV and ADNOC The new entity will be headquartered and domiciled in Vienna, Austria, with regional headquarters in Abu Dhabi, and listed on the Abu Dhabi Securities Exchange (ADX). It is intended that Borouge Group International will have a dual listing on the Vienna Stock Exchange (ATX) in the future. The equal shareholding structure enables joint control between OMV and ADNOC, allowing both parties to have equal decision-making rights in all strategic matters. Borouge Group International will have a two-tier board structure with equal governance and voting rights between OMV and ADNOC. The Supervisory Board will have five representatives from OMV, five representatives from ADNOC and potentially five employee representatives according to Austrian corporate governance. Strong synergies and attractive dividend policy Borouge Group International is expected to realize substantial annual synergies of around USD 500 million run-rate EBITDA per annum, driven by improved procurement, cross-selling opportunities, optimization and efficiencies. About 75 per cent of the synergy potential will be realized within three years after closing. The transaction simplifies OMV’s chemicals holdings by creating a single, direct shareholding in Borouge Group International. The new company will target an investment grade credit rating profile and have a competitive dividend policy, with a minimum total floor dividend of USD 2.2 billion, based on the expected share structure at closing. The existing dividend policy of OMV is expected to remain unchanged for 2025 and is envisaged to be reviewed for potential adjustments thereafter. The net floor dividend to OMV from Borouge Group International is expected to be around EUR 1 bn and it is the guiding principle that OMV’s shareholders continue to benefit from the competitive returns. Advancing OMV’s Strategy 2030 The establishment of Borouge Group International accelerates the implementation of OMV’s Strategy 2030 and its growth in Chemicals, including achieving key priorities of growing in attractive markets, with a particular focus on North America and Asia; establishing a leading position in renewable and circular economy solutions and diversifying its portfolio. In addition to delivering immediate scale in major polyolefins markets, these transactions provide exposure to high-end markets and provides a growth platform benefiting from global demand trends and developing own organic growth projects. OMV remains committed to combined innovation capabilities through its R&D expertise and the highly skilled workforce. The current innovation centers in Europe, incl. Austria, as well as the UAE will continue to be key R&D hubs. With OMV’s simplified Chemicals holdings, it will preserve the industrial integration through continuing to operate its refinery integrated naphtha-based crackers in Schwechat, Austria, and Burghausen, Germany, and develop its sustainable base chemicals offering. The industrial integration and majority of the operational synergies at OMV sites in Austria and Germany will be preserved to maintain the Group’s competitive advantage. Indicative transaction timetable The completion of the all-share combination of Borealis and Borouge and acquisition of Nova Chemicals is estimated in Q1 2026, subject to regulatory approvals and customary closing conditions. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (HU) Source link

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