USF1: The Dream is Dead

A Charlotte-based Formula One race team has ceased operations. USF1 was scheduled to make its debut at the Bahrain Grand Prix, the season-opening race held March 14. But the shop sent its employees home and went dark in early March. Ken Anderson, president and chief executive of the team, e-mailed employees today with a permanent layoff notice, citing “serious economic and funding challenges.”

At least nine employees have filed wage complaints in March with the N.C. Department of Labor because they had not been paid. Thursday’s permanent layoff notice said employees could be rehired if business conditions improve. The letter was signed by Anderson, who could not be reached.

[Source: Charlotte Business Journal]

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Michael Satterfield is the founder of The Gentleman Racer, a leading automotive lifestyle site blending cars, travel, and culture. Known for its compelling storytelling and unique perspective, the site has become a go-to destination for car enthusiasts and style aficionados.

A Texan with a passion for classic cars and motorsports, Michael is also a hands-on restorer, currently working on a 1960s SCCA-spec Formula Super Vee and other project cars. As the head of the Satterfield Group, he consults on branding and marketing for top automotive and lifestyle brands, bringing his deep industry knowledge to every project.