Tales from the Bottom of my Magazine Vault which may interest readers

#1 in series

I be posting unusual motor racing stories and commentary dug from my extensive indexing of car magazines in depth when i have been doing for the past 37 years!

Iceland's Artic I million
Before the Financial Crisis where likes of Spain ; Portugal; Ireland and particularly Iceland got themselves in stuck in the dodo and are looking like at any moment that they fall over financially and be declared bankcrupt

Here a very funny you tube with New Zealands John Clarke (Formally Fred Dagg) explaining the European Financial Crisis
http://www.youtube.com/watch?v=LyePCRkq620

Iceland got very close in 1972 to going bankcrupt then - Why
Its because in order to boost tourism and revenue for the strugging nation during the Iceland Summer- the powers that be decided to organize car race that to this day there has being nothing like it since and on the scale - This was no holds bar race
around iceland when any sort of vehicle could compete Example Nascar Stockcars ; Rallys Cars ; Motorcycles ; Trucks ; and one of two high performance saloon specials like the dropping in of full works V12 Le Mans Matra-Simca engine to a Chrysler

180 sedan (Production 180 was Chryslers proposed Humber Sceptre replacement and later produced by Chrysler France and Spain in 1.8 and 2.0 versions from 1970 ; later in Australia these cars were called Chrysler Centuras fitted with 2.0, 215ci or

245ci Hemi 6 engines) the Race was to sponsored by STP and prize money was $1,000,000 US would attract the top motor racers from al over the world . The promise of putting the event life on TV (which would be a major plus particularly the selling
of TV rights around the globe)

However the staging of this event was beset by problems
1/ STP gained a lot of promotional miliage with regard to the event at last minute pulled the plug!
2/ The Iceland Summer was shorter that year and Winter set it quicker then expected - those vehicles with 4wd capability to cope with surprise snow fall over days of the event were in a better advantage then those without - Despite these conditions the
event was staged and the then Formula 1 champion Emerson Fittapardi in a Ferguson 4wd Capri V6 won the event
3/ Televising the life - Iceland economy would gain by selling the rights but was this was 1972 and there were a number of technical problems in transmission (technology new and change of conditions did not help) and this could not be solved in time of event

Iceland Finance Minister was left to find $1M dollars and associated costs and Iceland almost had to be baled out them consequently there very little information on this event

The only article I have found from my database of documenting magazines for 37 years is the report written by Autocar UK magazine in 1972

See: 21st December 1972 Autocar (GB) page 18-19 Volume 137 Issue # 3995
"A Cool Million"; Emerson Fittipaldi the winner;Turbo Charged BMW CSL's against US Stock Cars against one another in trecherous winter conditions;The only event where you would find V12 Chrysler 180s;4x4 Capri etc

A copy is for viewing is available from National Library Wellington in Victoria Street

I used to photocopy this report as a lesson to my students, when i tutored at Victoria University in 2001-2002 in Marketing with regard to Event Management - an example of when things really go wrong!

Cheers Julian
Looking for car references then visit my site
www.carmagreviews.co.nz

PS - I brought up this story around 5 years ago on the UK website F1 Atlas to which the story has being so buried and then admit I received few replies from the Brits - Maybe Kiwis might find this starting story more interesting