2007–2008 financial crisis and 2008 Japanese Grand Prix: Difference between pages

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{{current sport|event=motorsport event|image=motorsport current event.png}}
The '''financial crisis of 2007–2008''', referred to in the media as "the credit crunch" or "the credit crisis", first became apparent on August 9, 2007, when a loss of confidence by investors in the value of [[securitization|securitized mortgages]] in the United States resulted in a [[liquidity crisis]] which prompted a massive injection of capital into financial markets by the [[Federal Reserve]] and the [[European Central Bank]].<ref>{{cite web | url=http://www.nytimes.com/2007/08/10/business/10liquidity.html | title=A New Kind of Bank Run Tests Old Safeguards | author=Floyd Norris | work=[[The New York Times]] | date=August 10, 2007}}</ref><ref name="August2007">{{cite web | url= http://www.guardian.co.uk/business/2008/aug/05/northernrock.banking | title=Credit crisis - how it all began] Suddenly, one August day last year shook the world, turning an Edwardian summer of prosperity into a grim financial crisis | author=Larry Elliott | work=[[The Guardian]] | date= August 5 2008 }}</ref> The [[TED spread]], an indicator of perceived credit risk in the general economy, spiked up in August 2007, remained volatile for a year, then spiked even higher in September 2008.<ref>[http://www.bloomberg.com/apps/cbuilder?ticker1=.TEDSP%3AIND "3 year chart"] [[TED spread]] Bloomberg.com "Investment Tools"</ref>
{{Infobox Grand Prix race report
|Type = F1
|Country = Japan
|Grand Prix = Japanese
|date = 12 October
|Year = 2008
|Image = Fuji.svg
|Caption = Fuji Speedway
|Race_No = 16
|Season_No = 18
|Official name = XXXIV [[Fuji Television]] [[Japanese Grand Prix]]
|Location = [[Fuji Speedway]], [[Oyama, Shizuoka|Oyama]], [[Sunto District, Shizuoka|Sunto District]], [[Shizuoka Prefecture|Shizuoka]], [[Japan]]
|Course = Permanent racing facility
|Course_mi = 2.835
|Course_km = 4.563
|Distance_laps = 67
|Distance_mi = 189.945
|Distance_km = 305.721
|Weather = TBA
|Pole_Driver = [[Lewis Hamilton]]
|Pole_Team = [[McLaren]]-[[Mercedes-Benz|Mercedes]]
|Pole_Time = 1:18.404
|Pole_Country = United Kingdom
|Fast_Driver = TBA
|Fast_Team = TBA
|Fast_Time = TBA
|Fast_Lap = TBA
|Fast_Country =
|First_Driver = TBA
|First_Team = TBA
|First_Country =
|Second_Driver = TBA
|Second_Team = TBA
|Second_Country=
|Third_Driver = TBA
|Third_Team = TBA
|Third_Country =
}}
The '''2008 Japanese Grand Prix''' is the sixteenth race of the [[2008 Formula One season]]. It will be held on 12 October at the recently revised [[Fuji Speedway]], [[Oyama, Shizuoka]]. For 20 years the Japanese Grand Prix was held at [[Suzuka Circuit|Suzuka]], but in 2007 it returned to Fuji for the first time since [[1977 Japanese Grand Prix|1977]].


In [[2007 Japanese Grand Prix|2007]], the Pole position, the fastest lap and the race itself were all won by [[Lewis Hamilton]], who extended his lead in the championship to 12 points with 2 races remaining. [[Fernando Alonso]] won the [[2006 Japanese Grand Prix|2006 race]], almost guaranteeing him the World Championship for that year.
==Historical background==
The initial [[liquidity crisis]] can in hindsight be seen to have resulted from the incipient [[subprime mortgage crisis]]. One of the first victims outside the US was [[Northern Rock]], a major British bank.<ref>{{cite web | url=http://www.bankofengland.co.uk/publications/news/2007/090.htm | title=News Release: Liquidity Support Facility for Northern Rock plc| author= HM Treasury, Bank of England and Financial Services Authority | date= September 14, 2007}}</ref> The bank's inability to borrow additional funds to pay off maturing debt obligations led to a [[bank run]] in mid-September 2007. The highly [[Leverage (finance) | leveraged]] nature of its business, unsupportable without fresh infusions of cash, led to its takeover by the British Government and provided an early indication of the troubles that would soon befall other banks and financial institutions.


Two other 2008 drivers have won the [[Japanese Grand Prix]]. [[Kimi Räikkönen]] won the [[2005 Japanese Grand Prix|2005]] event driving for [[McLaren]], while [[Rubens Barrichello]] won in [[2003 Japanese Grand Prix|2003]] to secure team-mate [[Michael Schumacher]] the World Title.
Excessive lending under loosened [[underwriting]] standards, which was a hallmark of the [[United States housing bubble]], resulted in a very large number of [[subprime mortgage]]s. These high-risk [[loan]]s had been perceived to be mitigated by [[securitization]]. Rather than ''mitigating'' the risk, however, this strategy appears to have had the effect of broadcasting and amplifying it in a [[domino effect]]. The damage from these failing securitization schemes eventually cut across a large swath of the housing market and the housing business and led to the subprime mortgage crisis. The accelerating rate of [[foreclosure]]s caused an ever greater number of homes to be dumped onto the market. This glut of homes decreased the value of other surrounding homes which themselves became subject to foreclosure or abandonment. The resulting spiral underlay a developing financial crisis.


The World Championship has been won several times in [[Japan]], with winners [[James Hunt]] at the [[1976 Japanese Grand Prix]]; [[Nelson Piquet]] in [[1987 Japanese Grand Prix|1987]]; [[Ayrton Senna]] in [[1988 Japanese Grand Prix|1988]], [[1990 Japanese Grand Prix|1990]] and [[1991 Japanese Grand Prix|1991]]; [[Alain Prost]] in [[1989 Japanese Grand Prix|1989]]; [[Damon Hill]] in [[1996 Japanese Grand Prix|1996]]; [[Mika Häkkinen]] in [[1998 Japanese Grand Prix|1998]] and [[1999 Japanese Grand Prix|1999]]; and Michael Schumacher in [[2000 Japanese Grand Prix|2000]] and 2003.
Initially the companies affected were those directly involved in home construction and mortgage lending such as Northern Rock and [[Countrywide Financial]]. Financial institutions which had engaged in the [[Mortgage-backed security|securitization of mortgages]] such as [[Bear Stearns]] then fell prey. On July 11, 2008, the largest mortgage lender in the US collapsed. [[IndyMac Bank]]'s assets were seized by federal regulators after the mortgage lender succumbed to the pressures of tighter credit, tumbling home prices and rising foreclosures. That day the financial markets plunged as investors tried to gauge whether the government would attempt to save mortgage lenders [[Fannie Mae]] and [[Freddie Mac]], which it did by placing the two companies into federal [[conservatorship]] on September 7, 2008 after the crisis further accelerated in late summer.


The Grand Prix will see the debut of Bridgestone's Green Striped grooved tyres as part of the FIA's [[Make Cars Green]] campaign, an initiative demonstrating that Formula One’s teams and partners are backing the Make Cars Green campaign’s goal to reduce the impact of motoring on the environment.
{{see also|Federal takeover of Fannie Mae and Freddie Mac}}


==Report==
It then began to affect the general availability of credit to non-housing related businesses and to larger financial institutions not directly connected with mortgage lending. At the heart of many of these institution's portfolios were investments whose assets had been derived from bundled home mortgages. Exposure to these mortgage-backed securities, or to the [[credit derivatives]] used to insure them against failure, threatened an increasing number of firms such as [[Lehman Brothers]], [[American International Group|AIG]], [[Merrill Lynch]], and [[HBOS]].<ref>
===Practice===
[http://www.nytimes.com/2008/09/19/business/economy/19econ.html "Pain Spreads as Credit Vise Grows Tighter"] article by Louis Uchitelle in ''[[The New York Times]]'' September 18, 2008
The first practice session saw [[McLaren]]'s [[Lewis Hamilton]] take the fastest lap with a 1:18.91, beating Brazilian title hope [[Felipe Massa]] by 0.153s. 3rd was Hamilton's teammate [[Heikki Kovalainen]] who finished 3rd in 2007 to get his first ever podium. [[Kimi Raikkonen]] rounded out the top 4, the [[Scuderia Ferrari]] driver looking to keep his title hopes alive by hopefully winning the race and hoping Massa and Hamilton did not score points. The top 8 was finished by [[Fernando Alonso]], [[Nelson Piquet Jr.]], [[Sebastian Vettel]], and Polish driver [[Robert Kubica]]. The 2nd practice threw up a surprise, with [[Toyota]]'s [[Timo Glock]] grabbing the fastest lap, ahead of Alonso.<ref>http://afp.google.com/article/ALeqM5gpzpZq65OHi0WkdxTrpFexWtDnEA</ref>
</ref><ref name="Lehman Merrill" /><ref name="Lehman Merrill">
[http://www.nytimes.com/2008/09/15/business/15lehman.html "Lehman Files for Bankruptcy; Merrill Is Sold"] article by Andrew Ross Sorkin in ''[[The New York Times]] September 14, 2008</ref><ref>
[http://www.nytimes.com/2008/09/18/business/worldbusiness/18lloyds.html "Lloyds Bank Is Discussing Purchase of British Lender"] article by Julia Werdigier in ''[[The New York Times]]'' September 17, 2008
</ref>
Other firms that came under pressure included [[Washington Mutual]], the largest [[savings and loan association]] in the United States, and the remaining large investment firms, [[Morgan Stanley]] and [[Goldman Sachs]].<ref>
[http://www.nytimes.com/2008/09/18/business/18wamu.html "Washington Mutual Is Said to Consider Sale"] article by Geraldine Fabrikant in ''[[The New York Times]]'' September 17, 2008
</ref><ref>
[http://www.nytimes.com/2008/09/18/business/18wall.html "As Fears Grow, Wall St. Titans See Shares Fall"] article by Ben White and Eric Dash in ''[[The New York Times]]'' September 17, 2008
</ref>


===Qualifying===
==Developing global financial crisis==
In qualifying [[Lewis Hamilton]] did well, taking pole position. There was no such luck for [[Felipe Massa]], who could only manage 5th. [[Fernando Alonso]], who suprised everybody with his win at the [[2008 Singapore Grand Prix]], qualified well too, ahead of Massa in 4th.<ref>{{cite news|url=http://news.bbc.co.uk/sport1/hi/motorsport/formula_one/7664875.stm|title=Japanese Grand Prix|publisher=BBC Sport|accessdate=2008-10-11}}</ref>[[Kimi Räikkönen]] looked to have pole after a flyer at the end of Q3 but had to settle for P2 when Hamilton bettered his lap. [[Robert Kubica]], [[Jarno Trulli]], [[Timo Glock]], who was fastest in the 2nd practice session on Friday, [[Sebastian Vettel]], and [[Sebastien Bourdais]] rounded out the top 10.<ref>{{cite news|url=http://www.itv-f1.com/news_article.aspx?id=44218|title=Hamilton claims crucial Japan pole|publisher=ITV-F!.com|accessdate=2008-10-11}}</ref>
{{Main|Global financial crisis of September–October 2008}}
Beginning with bankruptcy of Lehman Brothers on Sunday, September 14, 2008, the financial crisis entered an acute phase marked by failures of prominent American and European banks and efforts by the American and European governments to rescue distressed financial institutions, in the United States by passage of the [[Emergency Economic Stabilization Act of 2008]] and in European countries by infusion of capital into major banks. As the crisis developed, stock markets fell worldwide, and global financial regulators attempted to coordinate efforts to contain the crisis. Falling prices due to reduced demand for oil, coupled with projections of a global recession, brought the [[2000s energy crisis]] to temporary resolution.<ref>[http://www.nytimes.com/2008/10/11/business/worldbusiness/11oil.html "Forecast for Global Oil Demand Cut"]</ref>


== Projections ==
==Classification==
===Qualifying===
A number of commentators have suggested that if the liquidity crisis continues, there could be an extended [[recession]] or worse.<ref>[http://www.nytimes.com/2008/09/26/business/26assess.html "Credit Enters a Lockdown"] "Economic memo" by Peter S. Goodman in ''[[The New York Times]] September 25, 2008</ref> The continuing development of the crisis prompted fears of a global [[economic collapse]].<ref>{{cite news
{| class=wikitable style="font-size:95%"
|url=http://www.washingtonpost.com/wp-dyn/content/article/2008/10/06/AR2008100603249.html
!Pos
|title=Unfolding Worldwide Turmoil Could Reverse Years of Prosperity
!No
|publisher=The Times
!Name
|date=2008-10-07
!Constructor
|accessdate=2008-10-07
!Part 1
|first=David
!Part 2
|last=Cho
!Part 3
|coauthors=Binyamin Appelbaum
!Grid
}}</ref>
|-

!1
== Timeline of events ==
|22
===Background===
|{{flagicon|United Kingdom}} [[Lewis Hamilton]]
*[[Subprime mortgage crisis]]
|[[McLaren]]-[[Mercedes-Benz|Mercedes]]

|1:18.071
===Events of 2007===
|1:17.462
*Liquidity crisis emerges August 9, 2007<ref name="August2007" /><ref>"[http://www.nytimes.com/2007/08/10/business/worldbusiness/09cnd-eurobank.html?_r=1&hp&oref=slogin Big French Bank Suspends Funds]", ''[[New York Times]]'', 9 August 2007</ref><ref>[http://www.nytimes.com/2007/08/09/business/09cnd-stox.html "Dow Falls 387 Points on New Loan Fears"</ref>
|'''1:18.404'''
*[[Northern Rock]] sought and received a liquidity support facility from the [[Bank of England]] on September 14, 2007<ref>{{cite web |title=Bank of England|Publications|News|2007|Liquidity Support Facility for Northern Rock plc - Tripartite Statement by HM Treasury, Bank of England and Financial Services Authority |url=http://www.bankofengland.co.uk/publications/news/2007/090.htm |accessdate=2008-02-20 |date=2007-09-14}}</ref>
|1
*Record high US stock market October 9, 2007 Dow Jones Industrial Average (DJIA) 14,164<ref>[http://www.the-privateer.com/chart/dow-long.html Chart of the Dow Jones Industrial Average]</ref>
|-

!2
===Events of 2008===
|1
{{Main|Economic crisis of 2008}}
|{{flagicon|Finland}} [[Kimi Räikkönen]]
*[[January 2008 stock market volatility]]
|[[Scuderia Ferrari|Ferrari]]
*On February 22, 2008 [[Northern Rock]] was [[Nationalisation|taken into state ownership]] (see [[Nationalisation of Northern Rock]])<ref name=bbcnat>{{cite web |url=http://news.bbc.co.uk/1/hi/business/7249575.stm |title=Northern Rock to be nationalised |publisher=[[BBC News]] |date=2008-02-17 |accessdate=2008-04-08}}</ref>
|1:18.160
*[[Bear Stearns]] (takeover in March)
|1:17.733
*[[Federal takeover of Fannie Mae and Freddie Mac]]
|1:18.644
*[[Global financial crisis of September–October 2008]]
|2
**[[American International Group]]
|-
**[[Merrill Lynch]]
!3
**[[Lehman Brothers]], [[Bankruptcy_of_Lehman_Brothers]] (September)
|23
**[[Washington Mutual]], sold by FDIC to [[JPMorgan Chase]]
|{{flagicon|Finland}} [[Heikki Kovalainen]]
**[[Wachovia]]'s banking assets were to be acquired by [[Citigroup]]<ref>{{cite news|url=http://www.marketwatch.com/news/story/citigroup-acquire-wachovias-operations-us-backed/story.aspx?guid=633CD0D5-5FFA-42B8-BBF3-0E6402BEE599&dist=SecMostRead|title=Citi to acquire Wachovia's banking operations|publisher=[[MarketWatch]]|date=2008-09-29|accessdate=2008-09-29}}</ref>, but then a merger with [[Wells Fargo]] was announced<ref>{{cite news
|[[McLaren]]-[[Mercedes-Benz|Mercedes]]
|url=http://www.nytimes.com/2008/10/04/business/04bank.html
|1:18.220
|title=Wells Fargo Swoops In
|1:17.360
|publisher=The New York Times
|1:18.821
|date=2008-10-03
|3
|accessdate=2008-10-04
|-
|first=Eric
!4
|last=Dash
|5
|coauthors=Ben White
|{{flagicon|Spain}} [[Fernando Alonso]]
}}</ref>
|[[Renault F1|Renault]]
**U.S. [[Proposed bailout of U.S. financial system (2008)|legislative proposals]] are made to provide economic rescue
|1:18.290
**[[Hypo Real Estate]] (Germany, October)
|1:17.871
**[[2008 Icelandic financial crisis]] (Nationalization of Icelandic banks, October)
|1:18.852
** October 9, 2008 - [[Dow Jones Industrial Average]] falls below 9000.
|4

|-
==See also==
!5
*[[Deposit insurance]]
|2
*[[Mark-to-market accounting]]
|{{flagicon|Brazil}} [[Felipe Massa]]
|[[Scuderia Ferrari|Ferrari]]
|1:18.110
|'''1:17.287'''
|1:18.874
|5
|-
!6
|4
|{{flagicon|Poland}} [[Robert Kubica]]
|[[BMW Sauber]]
|1:18.684
|1:17.931
|1:18.979
|6
|-
!7
|11
|{{flagicon|Italy}} [[Jarno Trulli]]
|[[Toyota F1|Toyota]]
|1:18.501
|1:17.541
|1:19.026
|7
|-
!8
|12
|{{flagicon|Germany}} [[Timo Glock]]
|[[Toyota F1|Toyota]]
|'''1:17.945'''
|1:17.670
|1:19.118
|8
|-
!9
|15
|{{flagicon|Germany}} [[Sebastian Vettel]]
|[[Scuderia Toro Rosso|Toro Rosso]]-[[Scuderia Ferrari|Ferrari]]
|1:18.559
|1:17.714
|1:19.638
|9
|-
!10
|14
|{{flagicon|France}} [[Sébastien Bourdais]]
|[[Scuderia Toro Rosso|Toro Rosso]]-[[Scuderia Ferrari|Ferrari]]
|1:18.593
|1:18.102
|1:20.167
|10
|-
!11
|9
|{{flagicon|United Kingdom}} [[David Coulthard]]
|[[Red Bull Racing|Red Bull]]-[[Renault F1|Renault]]
|1:18.303
|1:18.187
|
|11
|-
!12
|6
|{{flagicon|Brazil}} [[Nelson Piquet Jr.]]
|[[Renault F1|Renault]]
|1:18.300
|1:18.274
|
|12
|-
!13
|10
|{{flagicon|Australia}} [[Mark Webber]]
|[[Red Bull Racing|Red Bull]]-[[Renault F1|Renault]]
|1:18.372
|1:18.354
|
|13
|-
!14
|8
|{{flagicon|Japan}} [[Kazuki Nakajima]]
|[[WilliamsF1|Williams]]-[[Toyota F1|Toyota]]
|1:18.640
|1:18.594
|
|14
|-
!15
|7
|{{flagicon|Germany}} [[Nico Rosberg]]
|[[WilliamsF1|Williams]]-[[Toyota F1|Toyota]]
|1:18.740
|1:18.672
|
|15
|-
!16
|3
|{{flagicon|Germany}} [[Nick Heidfeld]]
|[[BMW Sauber]]
|1:18.835
|
|
|16
|-
!17
|17
|{{flagicon|Brazil}} [[Rubens Barrichello]]
|[[Honda Racing F1|Honda]]
|1:18.882
|
|
|17
|-
!18
|16
|{{flagicon|United Kingdom}} [[Jenson Button]]
|[[Honda Racing F1|Honda]]
|1:19.100
|
|
|18
|-
!19
|20
|{{flagicon|Germany}} [[Adrian Sutil]]
|[[Force India]]-[[Scuderia Ferrari|Ferrari]]
|1:19.163
|
|
|19
|-
!20
|21
|{{flagicon|Italy}} [[Giancarlo Fisichella]]
|[[Force India]]-[[Scuderia Ferrari|Ferrari]]
|1:19.910
|
|
|20
|}


==References==
==References==
<div class="references-small" style="-moz-column-count: 2; column-count: 2;">
{{Reflist|2}}
<references/>

</div>
The initial articles and some subsequent material were adapted from the Wikinfo article "Financial crisis of 2007-2008" http://www.wikinfo.org/index.php?title=Financial_crisis_of_2007-2008 released under the [[Wikipedia:Text of the GNU Free Documentation License|GNU Free Documentation License Version 1.2]]

==External links==
==External links==
* [http://www.manipef1.com/results/2008/japan.php Detailed Japanese Grand Prix results]
*[http://www.nytimes.com/interactive/2008/10/08/business/economy/20081008-credit-chart-graphic.html Credit Crisis Indicators (Updated daily)] - Five ways to measure recent market disruption, from the New York Times<!--Need to find a permanent url for this-->
<!-- The following are violations of [[wp:ELNO]] #1. Please use then as sources and then remove.



{{F1 race report
*[http://www.imf.org/external/pubs/ft/gfsr/2008/02/index.htm International Monetary Fund, 2008, Global Financial Stability Report: Financial Stress and Deleveraging: Macrofinancial Implications and Policy (Washington, October).]
|Name_of_race = [[Japanese Grand Prix]]
*[http://news.bbc.co.uk/2/hi/business/7521250.stm Timeline: Global credit crunch] Published in [[BBC News]] on 6 October 2008.
|Year_of_race = 2008
*[http://www.house.gov/apps/list/press/financialsvcs_dem/press092808.shtml Text and summary of the Emergency Economic Stabilization Act of 2008]
|Previous_race_in_season = [[2008 Singapore Grand Prix]]
* {{cite news | first = Joe | last= Nocera | coauthors= Andrew Ross Sorkin, Diana B. Henriques, Edmund L. Andrews | title= 36 Hours of Alarm and Action as Crisis Spiraled | date= 2008-10-01 | publisher= | url = http://www.nytimes.com/2008/10/02/business/02crisis.html?hp=&pagewanted=all
|Next_race_in_season = [[2008 Chinese Grand Prix]]
| work = New York Times| pages = | accessdate = 2008-10-02 }} (Background on development of the Treasury proposal to Congress)
|Previous_year's_race = [[2007 Japanese Grand Prix]]
*[http://www.nytimes.com/interactive/2008/09/28/business/20080928-SEC-multimedia/index.html "The Day the S.E.C. Changed the Game"] Report by Stephen Labaton Produced by Amy O'Leary in ''[[The New York Times]]'': September 28 2008 -->
|Next_year's_race = [[2009 Japanese Grand Prix]]
}}
{{F1GP}}


[[Category:Japanese Grand Prix]]
{{2008 economic crisis}}
[[Category:2008 Formula One race reports|Japanese Grand Prix]]
[[Category:2008 in Japan|Grand Prix]]


{{F1-stub}}
[[Category:2000s economic history]]
[[Category:Financial crises]]
[[Category:United States housing bubble]]


[[ca:Gran Premi de Japó del 2008]]
[[el:Διεθνής χρηματοπιστωτική κρίση 2007-2008]]
[[es:Crisis financiera de 2008]]
[[cs:Grand Prix Japonska 2008]]
[[es:Anexo:Gran Premio de Japón de 2008]]
[[zh:2007-2008年環球金融危機]]
[[fr:Grand Prix automobile du Japon 2008]]
[[it:Gran Premio del Giappone 2008]]
[[lt:2008 m. Japonijos Grand Prix]]
[[hu:2008-as Formula–1 Japán Nagydíj]]
[[mr:२००८ जपान ग्रांप्री]]
[[ms:Grand Prix Jepun 2008]]
[[nl:Grand Prix van Japan 2008]]
[[ja:2008年日本グランプリ]]
[[no:Japans Grand Prix 2008]]
[[pl:Formuła 1 - Grand Prix Japonii 2008]]
[[fi:Japanin Grand Prix 2008]]
[[sv:Japans Grand Prix 2008]]
[[vi:Giải đua ô tô Công thức 1 Nhật Bản 2008]]
[[zh:2008年日本大奖赛]]

Revision as of 07:47, 11 October 2008

2008 Japanese Grand Prix
Race 16 of 18 in the 2008 Formula One World Championship
Fuji Speedway
Fuji Speedway
Race details
Date 12 October 2008
Official name XXXIV Fuji Television Japanese Grand Prix
Location Fuji Speedway, Oyama, Sunto District, Shizuoka, Japan
Course Permanent racing facility
Course length 4.563 km (2.835 miles)
Distance 67 laps, 305.721 km (189.945 miles)
Weather TBA
Pole position
Driver
McLaren-Mercedes
Time 1:18.404
Fastest lap
Driver TBA TBA
Time TBA on lap TBA
Podium
First
  • TBA
 TBA
Second
  • TBA
 TBA
Third
  • TBA
 TBA

The 2008 Japanese Grand Prix is the sixteenth race of the 2008 Formula One season. It will be held on 12 October at the recently revised Fuji Speedway, Oyama, Shizuoka. For 20 years the Japanese Grand Prix was held at Suzuka, but in 2007 it returned to Fuji for the first time since 1977.

In 2007, the Pole position, the fastest lap and the race itself were all won by Lewis Hamilton, who extended his lead in the championship to 12 points with 2 races remaining. Fernando Alonso won the 2006 race, almost guaranteeing him the World Championship for that year.

Two other 2008 drivers have won the Japanese Grand Prix. Kimi Räikkönen won the 2005 event driving for McLaren, while Rubens Barrichello won in 2003 to secure team-mate Michael Schumacher the World Title.

The World Championship has been won several times in Japan, with winners James Hunt at the 1976 Japanese Grand Prix; Nelson Piquet in 1987; Ayrton Senna in 1988, 1990 and 1991; Alain Prost in 1989; Damon Hill in 1996; Mika Häkkinen in 1998 and 1999; and Michael Schumacher in 2000 and 2003.

The Grand Prix will see the debut of Bridgestone's Green Striped grooved tyres as part of the FIA's Make Cars Green campaign, an initiative demonstrating that Formula One’s teams and partners are backing the Make Cars Green campaign’s goal to reduce the impact of motoring on the environment.

Report

Practice

The first practice session saw McLaren's Lewis Hamilton take the fastest lap with a 1:18.91, beating Brazilian title hope Felipe Massa by 0.153s. 3rd was Hamilton's teammate Heikki Kovalainen who finished 3rd in 2007 to get his first ever podium. Kimi Raikkonen rounded out the top 4, the Scuderia Ferrari driver looking to keep his title hopes alive by hopefully winning the race and hoping Massa and Hamilton did not score points. The top 8 was finished by Fernando Alonso, Nelson Piquet Jr., Sebastian Vettel, and Polish driver Robert Kubica. The 2nd practice threw up a surprise, with Toyota's Timo Glock grabbing the fastest lap, ahead of Alonso.[1]

Qualifying

In qualifying Lewis Hamilton did well, taking pole position. There was no such luck for Felipe Massa, who could only manage 5th. Fernando Alonso, who suprised everybody with his win at the 2008 Singapore Grand Prix, qualified well too, ahead of Massa in 4th.[2]Kimi Räikkönen looked to have pole after a flyer at the end of Q3 but had to settle for P2 when Hamilton bettered his lap. Robert Kubica, Jarno Trulli, Timo Glock, who was fastest in the 2nd practice session on Friday, Sebastian Vettel, and Sebastien Bourdais rounded out the top 10.[3]

Classification

Qualifying

Pos No Name Constructor Part 1 Part 2 Part 3 Grid
1 22 United Kingdom Lewis Hamilton McLaren-Mercedes 1:18.071 1:17.462 1:18.404 1
2 1 Finland Kimi Räikkönen Ferrari 1:18.160 1:17.733 1:18.644 2
3 23 Finland Heikki Kovalainen McLaren-Mercedes 1:18.220 1:17.360 1:18.821 3
4 5 Spain Fernando Alonso Renault 1:18.290 1:17.871 1:18.852 4
5 2 Brazil Felipe Massa Ferrari 1:18.110 1:17.287 1:18.874 5
6 4 Poland Robert Kubica BMW Sauber 1:18.684 1:17.931 1:18.979 6
7 11 Italy Jarno Trulli Toyota 1:18.501 1:17.541 1:19.026 7
8 12 Germany Timo Glock Toyota 1:17.945 1:17.670 1:19.118 8
9 15 Germany Sebastian Vettel Toro Rosso-Ferrari 1:18.559 1:17.714 1:19.638 9
10 14 France Sébastien Bourdais Toro Rosso-Ferrari 1:18.593 1:18.102 1:20.167 10
11 9 United Kingdom David Coulthard Red Bull-Renault 1:18.303 1:18.187 11
12 6 Brazil Nelson Piquet Jr. Renault 1:18.300 1:18.274 12
13 10 Australia Mark Webber Red Bull-Renault 1:18.372 1:18.354 13
14 8 Japan Kazuki Nakajima Williams-Toyota 1:18.640 1:18.594 14
15 7 Germany Nico Rosberg Williams-Toyota 1:18.740 1:18.672 15
16 3 Germany Nick Heidfeld BMW Sauber 1:18.835 16
17 17 Brazil Rubens Barrichello Honda 1:18.882 17
18 16 United Kingdom Jenson Button Honda 1:19.100 18
19 20 Germany Adrian Sutil Force India-Ferrari 1:19.163 19
20 21 Italy Giancarlo Fisichella Force India-Ferrari 1:19.910 20

References

  1. ^ http://afp.google.com/article/ALeqM5gpzpZq65OHi0WkdxTrpFexWtDnEA
  2. ^ "Japanese Grand Prix". BBC Sport. Retrieved 2008-10-11.
  3. ^ "Hamilton claims crucial Japan pole". ITV-F!.com. Retrieved 2008-10-11.

External links


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2008 Singapore Grand Prix 		FIA Formula One World Championship
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2007 Japanese Grand Prix 		Japanese Grand Prix Next race:
2009 Japanese Grand Prix

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