Nobody is immune. F1, the most luxurious of sports, is cutting costs… from Telegraph.co.uk:

There will be savings on engine costs, a ban on in-season testing outside grand prix weekends and a reduction in staff numbers that will mean bad news for many skilled workers in Britain’s south Midlands, the worldwide centre of motor sport. continue reading...

The Economy strikes again… from MarketWatch.com:

Speaking at a press conference Friday afternoon, an emotionally-wrought Honda President Takeo Fukui described the slowdown in global auto sales as “beyond imagination”, and said mounting business difficulties in November prompted his decision to exit global racing.
“Honda must protect its core business activities and secure the long term as widespread uncertainties in the economies around the globe continue to mount,” Fukui said in a statement published on Honda’s global Website. “A recovery is expected to take some time.” continue reading...