NZH: By Bevan Hurley Puiblished 5:30 AM Sunday Sep 29, 2013
"Kiwi taxpayers subsidised American billionaire Larry Ellison's Oracle victory in the America's Cup with more than $1 million in grants and tax breaks for the New Zealand-based Core Builders, the company that built most of the winning boat.
"The company also received generous tax breaks, paying zero income tax for three years between 2009 and 2011.
"Financial statements also show employees and contractors will receive $2.3m in bonuses from the Oracle victory. Ellison's net worth is $53 billion, according to Forbes magazine.
"Air New Zealand also helped the US team with to make their daggerboards (but dcclined when Team NZ asked for help. 'The airline had the only autoclave machinery in the country capable of producing the specific designs required by the Kiwi sailors'...)..." Read more
"SNUBBED: Team New Zealand's catamaran was built without the help of Air
New Zealand, who rejected a request for assistance and helped rival
Oracle instead." Courtesy of stuff.co.nz
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