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Breaking News: Bridgestone Quits F1

In a shocking announcement, Bridgestone will not renew its contract to supply the Formula 1 series as its tire provider. Currently Bridgestone is the sole supplier of F1 as Michelin bowed out in 2007.   The story can be found at Bloomberg : Nov. 2 (Bloomberg) — Bridgestone Corp., the world’s largest tiremaker, will stop supplying tires for the Formula One racing championship series as it aims to cut costs and streamline research and development efforts. The company won’t renew its current contract, set to expire at the end of the 2010 season, the Tokyo-based company said in a statement today. The company is the sole supplier of tires to F-1 racing teams. Bridgestone spent as much as $100 million a year on Formula One-related cost...

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