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The head of the Kiwi company that built Oracle's boat quashed rumours his team received bonuses in the lead-up to the America's Cup final.
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The head of the Kiwi company that built Oracle's boat quashed rumours his team received bonuses in the lead-up to the America's Cup final.
Core Builders' co-construction manager Tim Smyth, who built much of Oracle's boat in his Warkworth factory, told TV3's The Nation there was no truth to the rumours ten boat builders from Core Builders received $250,000 each.
Mr Smyth said Larry Ellison was very tight with his money.
"It's totally accountable, our books are pretty much open."
Mr Smyth said he was "gobsmacked" by the suggestion, and said Kiwis who believed the hearsay were "searching too many diverse blog sites".
Composites were used to build Oracle's lightweight boat, and Mr Smyth thinks the technology could have a big future by being used in other areas, including construction.
"The marine industry is currently depressed at the moment, it could be redeployed into using the same skills that we already had, good composite skills.
"I think New Zealanders are particularly talented at manipulating composites."
Investment fund manager Lance Wiggs said New Zealand businesses have a lot to learn from the America's Cup.
"I think we need to stand up and lift our aspirations somewhat, and say: Is it okay just to sort of grow a little bit and then sell out, or do we want to do the Rod Drury think and actually grow these billion dollar businesses?"
Mr Wiggs said New Zealand should mimic how Oracle responded during the America's Cup campaign, and start investing in the hi-tech sector.
"They saw the writing on the wall and they said: we need to change stuff up a lot otherwise we're gonna lose.
"So we're the same - we need to change stuff up a lot in New Zealand, accelerate, and think about the 20-year plan which is $40 billion worth."
NBR Staff
Sun, 29 Sep 2013
Sun, 29 Sep 2013
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Real Cup race just beginning
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