The president of International Automobile Fedaration said this that formula one (F1) must slash costs by 2010 or has to face problems, cause many teams are stepping back as they are big spenders too but high cost is unbearable by some of them. Some steps have to be taken before this thing happen, soon.
He has named some or one of the company which has folded up already. FOTA and FIA are going to do some thing very soon for solving this problem.
I will update with some more. su again , comment me your thoughts.