Nascar Chairman Brian France Ends Lawsuit Against Former Wife

Employees of Alcatel-Lucent walk past an entrance at the company site in Orvault near Nantes, western France, October 8, 2013. REUTERS/Stephane Mahe

“The group is eating up a lot of cash and is unable to enhance its profitability, so some kind of change was needed to make sure it has a long-term future,” said one Paris-based financial analyst who declined to be named. The group, which employs 72,000 staff worldwide and competes with larger rivals Ericsson of Sweden, China’s Huawei and Finland’s Nokia, has posted five straight quarters of net losses. Altogether, 4,100 posts will go in Europe, the Middle East and Africa, 3,800 in Asia Pacific, and 2,100 in the Americas. France’s CFDT union said it would fight a plan that entailed cuts to about 15,000 posts, although 5,000 new jobs will be created, giving the overall loss of 10,000. Nine hundred jobs would go in France, with the closure or disposal of five sites. “The CFDT is aware of the seriousness of the situation and deplores this,” it said in a statement. “But once again it is the staff that are paying the price … We will fight this plan and make proposals to change it.” The union said Alcatel was planning to close its sites in the French cities of Rennes and Toulouse quickly, and sell its Eu, Ormes and Orvault sites by the end of 2015. France’s left-leaning industry minister Arnaud Montebourg Montebourg, who has led a campaign for French consumers and companies to buy home-grown products, said the loss of hundreds of French jobs was “excessive.” He called on the country’s network providers to help the firm by favouring its products over those of cheaper rivals, and asked Alcatel-Lucent to review its cost-cutting plans with trade unions. “We have asked management to revise the restructuring plan downwards,” he told parliament. “We can’t keep on paying the price of their errors.” But other sources in President Francois Hollande’s Socialist government, which has watched Alcatel-Lucent’s problems closely as it battles rising unemployment in France, emphasised that the plan was an attempt to get the group growing. SPECULATION The Alcatel-Lucent merger was an attempt to pool resources but any savings were lost due to fierce price competition in the sector and as slow economies, particularly in Europe, dented demand for telecom equipment.

Brian France is now remarried. The 2008 separation agreement stipulated that Brian France pay his ex-wife $9 million, alimony of $32,000 a month for 10 years and $10,000 a month in child support. Megan France contended that her ex-husband delayed monthly alimony payments and failed to make a $3 million installment promised under the separation agreement. In court files, France argued that he wasnt required to pay the $3 million because his wife breached the agreement. Last month, the two agreed to end their court dispute, their lawyers say. The parties have voluntarily dismissed all pending litigation and amicably resolved all existing disputes on confidential terms that are consistent with the best interests of their children and their respective families, John Stephenson, one of the lawyers representing Brian France, wrote in an email to the Observer. There will be no further public comment about these private matters. For years, much of the legal fight was hidden from the public because a judge sealed the France file. The Observer and news partner NBC Charlotte waged a lengthy court battle to open the file, finally winning in May . The news partners argued that France had no compelling interest that supersedes the publics right to open courts and files. The unsealed documents showed that Brian Frances assets totaled more than $550 million in 2005 and that NASCAR paid him more than $9 million in 2004. The records also shone light on a contentious divorce. Brian France hired private investigators to keep an eye on his wife, the documents show. Megan France also alleged that her ex-husband threatened to financially devastate her.

Cabaye: Scary returning to France fold

Although their divorce was final in 2007, France filed a lawsuit in September 2008 alleging that Megan broke the terms of their divorce when it came to visitation rights, the hiring of nannies and the confidentiality clause. NASCAR chairman Brian France (AP Photo) MORE: France deals with credibility crisis | Sponsor questions NASCAR’s integrity Because he contended she broke the terms of the divorce, he had withheld $6 million in payments, according to court documents. The lawsuit, filed in North Carolina District Court in Charlotte, was dismissed Sept. 26, according to the clerk of court docket database, although the actual order of dismissal wasn’t immediately available from the clerk’s office. “The parties have voluntarily dismissed all pending litigation and amicably resolved all existing disputes on confidential terms that are consistent with the best interests of their children and their respective families,” Brian France attorney Johnny Stephenson said in a statement. “There will be no further public comment about these private matters.” The case file showed the massive wealth of Brian France, who succeeded his father as Chairman and CEO of NASCAR in 2003. In 2005 at the time of their marriage — the second between them — Brian France listed assets of $554 million and loans of $26 million, according to documents in the case. He earned $9.05 million in 2004 as NASCAR chairman and CEO. As part of the divorce, Megan France kept a $3.2 million Charlotte home and a $2 million vacant lot. Megan France argued in the case that Brian was not as involved in the life of their children as he should have been and had held back payments for some prep school fees for her daughter from a previous marriage. OLDER

View gallery Cabaye: Scary returning to France fold Yohan Cabaye has revealed that he was both excited and intimidated by his return to the France fold. The Newcastle United ace has not featured for les Bleus since their summer tour of South America, having been overlooked for the friendly against Belgium because he was suspended for the subsequent World Cup qualifier against Georgia. Cabaye was also omitted for the meeting with Belarus because he was in a dispute with his club at the time over a proposed transfer to Arsenal , so now he is keen to make up for lost time, even though he knows he faces a tough task in trying to win back his place in the France starting lineup given the squad’s strength in depth. “I missed it a lot,” the 27-year-old told reporters on Monday. “I was behind the team but it’s not easy to stay at home when the national team is playing. “When you’re not there, you’re scared to go back because things change so quickly. And even when you’re there, there is no security. They played good games without me. But I’m here now and I will try to do my best.” France meets Australia in a friendly on Friday before wrapping up its Group I campaign against Finland four days later. Follow GOAL.COM on Twitter STANFORD, Calif. (AP) — Stanford’s David Shaw is one of the most mild-mannered coaches in college football. He rarely shows emotions, and he rarely raises his voice.