30 year old princeling from China crashed his $1.5 million Ferrari at 120mph - fatal accident caught on live video

[touchring]

Warning: Real video of the crash, not for the faint hearted.

[ProdigyofZen]

Re: 30 year old princeling from China crashed his $1.5 million Ferrari at 120mph - fatal accident caught on live video

unbelievable

[Mega]

Re: 30 year old princeling from China crashed his $1.5 million Ferrari at 120mph - fatal accident caught on live video

Saw it a few days ago, nasty........but pre bust here i saw "Fiats" "Lambo" Big BMW's etc........why do you think i want the House price crash SO bad!
Mike

[touchring]

Re: 30 year old princeling from China crashed his $1.5 million Ferrari at 120mph - fatal accident caught on live video

unbelievable

I believe he tried to beat the cab by jamming on the accelerator but misjudged so ended up smacking into it.

[lakedaemonian]

Re: 30 year old princeling from China crashed his $1.5 million Ferrari at 120mph - fatal accident caught on live video

It's been my anecdotal experience after having seen many hundreds of owners of brand new very high performance vehicles that brand specific training should almost be compulsory for particular models. Some brands have begun to implement race course located "race training" to encourage uptake in what really is basic training to better ensure safe operation within legal parameters. Money is not a substitute for ability. Both BMW and Porsche seem to be at the tip of the spear here with strong factory focus and push.

While ABS, ceramic brakes, traction control, enhanced tire tech, ABS/safety tech(much of it derived from the racing industry) HAS enhanced the safety and capability of very high performance vehicles....it simply doesn't stop stupidity.

I recall Volvo back in the day(90's I believe) being a bit of an outlier accident wise.....it seemed customer/owner perceptions were that Volvos were so safe(based on marketing focus on safety tech) that they were a bit more invulnerable....and could have contributed to riskier driving behavior and becoming an accident outlier.

The car that caused the accident was a Ferrari 599 GTO I believe and was the road car equivalent of an F22 fighter plane, likely driven by someone who had the equivalent driving experience of a Cessna C172 pilot....IF THAT based on Singaporean low speed urban driving environment/conditions.

Tragedy, but only a single incident.

I'd be more interested in learning about the flow of Chinese little emperors/empresses(and their money) in/out of places like Singapore/Australia/NZ/Canada.

I wonder if we'll see another rise in "bolt hole" purchases and temporary outward capital flow like the build up to the handover of Hong Kong in the late 90's as seen in places like Vancouver/OZ/NZ?

[c1ue]

Re: 30 year old princeling from China crashed his $1.5 million Ferrari at 120mph - fatal accident caught on live video

I don't know why this is supposed to be exceptional. The same crap was seen in Russia regularly after the 'privatizations' of ex-Soviet state industries - and the children of said oligarchs ran around driving all sorts of fancy sports cars.

I guess the Chinese oligarchs just haven't gotten sophisticated enough to get official police escorts like American ones:

http://exiledonline.com/is-this-russ...0-mph-ht-mark/

Do you know what the NJ State Police are good at, besides getting governors into nearly life-threatening car accidents (well, when the governors don't buckle up) or flying around governors in helicopters? Escort luxury sports cars at over 100 mph when the drivers really need to get to Atlantic City! There's an investigation into the so-called "Death Race" caravans, one of which included former NY Giant Brandon Jacobs and apparently scared one older driver into nearly driving into a ditch.

The Star-Ledger reported yesterday:

...on the afternoon of March 30, two patrol cars with flashing emergency lights led and trailed the southbound caravan down the Garden State Parkway. Witnesses said the caravan included 25 to 30 Porsches, Lamborghinis, Ferraris and other vehicles, all with their license plates covered with tape. One witness, Wayne Gantt of Little Egg Harbor Township, dubbed the escort "Death Race 2012."
Four sources familiar with the trip, including two law enforcement sources, said the caravan was led by Sgt. 1st Class Nadir Nassry of Phillipsburg, an assistant station commander in the State Police’s Totowa substation. Nassry could not be reached for comment, and no one answered when a reporter knocked on the front door of his home today.

The sources requested anonymity because they were not allowed to discuss the matter.

Gantt and another witness, John Kennedy of Madison, filed complaints with the New Jersey Turnpike Authority, which oversees the parkway. They said many drivers struggled to get out of the way of the caravan, including one older driver who panicked and almost wound up in a ditch.

Then videos of a 2010 "Death Race" surfaced—it's believed the sports cars were headed to the Annual Hamilton Jewelers/Ferrari Rally in Red Bank—and the drivers of a mere Mitsubishi Evolution VIII joined in the caravan, "Doing 100, doing 100! It’s the New Jersey State Police. In the Evolution VIII cruising and we can’t keep up. This is the highlight of my life. We’re doing 110. 110."

[LargoWinch]

Re: 30 year old princeling from China crashed his $1.5 million Ferrari at 120mph - fatal accident caught on live video

It's been my anecdotal experience after having seen many hundreds of owners of brand new very high performance vehicles that brand specific training should almost be compulsory for particular models. Some brands have begun to implement race course located "race training" to encourage uptake in what really is basic training to better ensure safe operation within legal parameters. Money is not a substitute for ability. Both BMW and Porsche seem to be at the tip of the spear here with strong factory focus and push.

No amount of training will alter Newton's Second Law: F=ma

[peakishmael]

Re: 30 year old princeling from China crashed his $1.5 million Ferrari at 120mph - fatal accident caught on live video

No amount of training will alter Newton's Second Law: F=ma

In theory, the training encourages the driver to reduce the a, and avoid the m.

[touchring]

Re: 30 year old princeling from China crashed his $1.5 million Ferrari at 120mph - fatal accident caught on live video

I'd be more interested in learning about the flow of Chinese little emperors/empresses(and their money) in/out of places like Singapore/Australia/NZ/Canada.

I wonder if we'll see another rise in "bolt hole" purchases and temporary outward capital flow like the build up to the handover of Hong Kong in the late 90's as seen in places like Vancouver/OZ/NZ?

I think this outflow had been going on all the while. Most Chinese officials and businessmen regularly send money out of the country.

The Singapore state media had been exceedingly quiet on the background of the Ferrari driver, only revealing that he is a financial investor from China.

There are all sorts of unsubstantiated rumors on the China blogs on the identity of the driver. I'm not sure what kind of investor from China drives a $1.5 million Ferrari which depreciates at a rate of 150k a year (in Singapore, the car must be scrapped in 10 years) and nobody knows his identity.

The China state press says he is a 30 year old whizz kid who worked in China Mobile and made his millions from the stock market.

[lakedaemonian]

Re: 30 year old princeling from China crashed his $1.5 million Ferrari at 120mph - fatal accident caught on live video

I think this outflow had been going on all the while. Most Chinese officials and businessmen regularly send money out of the country.

The Singapore state media had been exceedingly quiet on the background of the Ferrari driver, only revealing that he is a financial investor from China.

There are all sorts of unsubstantiated rumors on the China blogs on the identity of the driver. I'm not sure what kind of investor from China drives a $1.5 million Ferrari which depreciates at a rate of 150k a year (in Singapore, the car must be scrapped in 10 years) and nobody knows his identity.

The China state press says he is a 30 year old whizz kid who worked in China Mobile and made his millions from the stock market.

Interesting......the only thing I would edit is that those cars in Singers after 10 years do not get scrapped, they get exported.....the luxury cars wind up in NZ/Russia/elsewhere for pretty good money....so it's not a writeoff....Ferraris maintain pretty high residual value.

[lakedaemonian]

Re: 30 year old princeling from China crashed his $1.5 million Ferrari at 120mph - fatal accident caught on live video

I just heard on the news that the cost of a 10 year car permit in Singers has increased as much as 10 fold in the last 5 years or so, due in part to the spike in new residents.

I wonder if Singapore maintains public access stats on new immigrants point of origin as well as type of immigration visa?

I'd be keen to know what % come from China and what % are residing under an "investor/high net worth" type of visa.

[touchring]

Re: 30 year old princeling from China crashed his $1.5 million Ferrari at 120mph - fatal accident caught on live video

I just heard on the news that the cost of a 10 year car permit in Singers has increased as much as 10 fold in the last 5 years or so, due in part to the spike in new residents.

I wonder if Singapore maintains public access stats on new immigrants point of origin as well as type of immigration visa?

I'd be keen to know what % come from China and what % are residing under an "investor/high net worth" type of visa.

The data on the origin of immigrants are not revealed by Singapore.

[lakedaemonian]

Re: 30 year old princeling from China crashed his $1.5 million Ferrari at 120mph - fatal accident caught on live video

The data on the origin of immigrants are not revealed by Singapore.

Here's an article on it:http://economictimes.indiatimes.com/...w/13860209.cms

A 25% jump in residents in seven years, coupled with the world's highest proportion of millionaire households, has fueled a 10-fold surge in license prices over three years.

It would be interesting to see the number of new Chinese residents who are "bolt holt residents".

[touchring]

Re: 30 year old princeling from China crashed his $1.5 million Ferrari at 120mph - fatal accident caught on live video

Here's an article on it:http://economictimes.indiatimes.com/...w/13860209.cms

It would be interesting to see the number of new Chinese residents who are "bolt holt residents".

I estimate that there could be up to a million new Chinese residents in Singapore, but the vast majority are blue collar workers, professionals and students, honest working people.

I don't think many bolt holt residents will come to Singapore since their assets would actually be safer in Hong Kong as the communist want to make it an example for Taiwan.

If I were one of them, I would bolt to Vancouver (1st choice) or San Francisco where China has no clout. San Francisco last choice since Obama appear to be a little fearful of the Chinese.

Besides, Singapore is not a cheap place even for millionaires. The cheapest Ferrari after all the taxes will cost you 660K USD - http://www.sgcarmart.com/new_cars/ne...SC&MOD=Ferrari

[c1ue]

Re: 30 year old princeling from China crashed his $1.5 million Ferrari at 120mph - fatal accident caught on live video

This whole focus on the expense of cars in Singapore is silly.

Singapore is very much like an Asian Manhattan: a dense, FIRE driven city.

You don't need a car in Manhattan, nor do you need a car in Singapore.

That Singapore chooses to extract more money for the luxury of car ownership is merely a societal more, and that is all. Manhattan instead extracts the cost via parking spot expenses: http://www.nytimes.com/2007/07/12/us/12parking.html