12/12/2008

Honda Quits Formula One

Shocking news today as Honda announces it's withdrawal from the top tier of motorsports racing, Formula One.

"Honda Motor Co. has come to the conclusion that we will withdraw from all Formula One activities, making 2008 the last season for participation," said Honda president Takeo Fukui at an emotional press conference.

"This difficult decision has been made in light of the quickly deteriorating operating environment facing the global auto industry... and the sudden contraction of the world economies," he added.