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Ferrari families have 'agreement' to prevent takeover

With its initial public offering already a massive success, Ferrari is now officially a publicly traded company on the New York Stock Exchange. While anyone can buy those shares, don't expect investors to take control away from some of the top owners of the Prancing Horse anytime soon. To maintain their power, Enzo Ferrari's son, Piero, and Exor chairman John Elkann will sign a deal guaranteeing themselves nearly half of the automaker's voting rights, Bloomberg reports. As part of this arrangement, shareholders that agree to hang onto Ferrari stock for at least three years would receive additional voting rights in the company, and that would give Piero and Elkann a combined 48.7 percent of the automaker by banding together. While not quite complete control, the move should be enough to prevent a takeover of the business. "We have an agreement among the families to protect our interests in Ferrari," Piero said to Bloomberg. This agreement won't really become a concern until next year because only 10 percent of Ferrari will be traded for now. FCA will distribute another 80 percent to its shareholders in early 2016, and Elkann's Exor will be getting the largest portion of the Prancing Horse in the spin-off. Meanwhile, Piero holds the remaining 10 percent but has absolutely no intention to sell his stake in his father's business. The newly public Ferrari will push to grow volume with a goal of moving 9,000 vehicles annually by 2019. To reach that 30-percent boost, expect to see a new model every year, and some of them might use a new, modular platform that's reportedly under development. Related Video:

2016 Pebble Beach Concours d'Elegance: It's all in the details

It's no secret that Pebble Beach is an ode to gorgeous, and mostly, classic cars. The car show may be a place for automakers to showcase extremely expensive cars to wealthy buyers, but it's also one of the go-to places for enthusiasts that love automobiles and culture. While it's easy to be overwhelmed by the overall beauty of a car, the real magic often needs closer inspection to be realized. Every car at Pebble Beach is a work of art, but the true beauty of the vehicles lies in the details. And Autoblog's photographer, Drew Phillips, managed to capture the details on some gorgeous cars. From the Lamborghini Miura's exquisite steering wheel to Rolls-Royce's Spirit of Ecstasy, it's all at Pebble Beach. We think the details on some of the cars are prettier than the cars themselves, but don't take our word for it. Check out the beautiful gallery above and enjoy the tiny bits and pieces behind some of the prettiest cars in the world. Related Video: Featured Gallery 2016 Pebble Beach Concours d'Elegance Details View 75 Photos Image Credit: Copyright 2016 Drew Phillips / Autoblog Misc. Auto Shows Aston Martin BMW Ferrari Lamborghini Rolls-Royce Pebble Beach

Race recap: 2016 Bahrain Grand Prix was everything good and bad about F1

Nothing was as it seemed heading into Bahrain. We were told team bosses had nixed the qualifying experiment that flunked every test by every measure in Australia, but that didn't happen. The FIA didn't give the teams the option of a wholesale return to the old format, the governing body only held a vote on whether to revert back to the old format in Q3 but stick with elimination gimmicks in Q1 and Q2. McLaren and Red Bull dissented, denying the chance for hybrid rounds. We're surprised none of the smaller teams voted against since elimination qualifying is hardest on them. Given the chance to fix the system again in Bahrain, Formula 1 failed again. The FIA and Bernie Ecclestone don't want to go back to the old system – because the race promoters don't want to go back to the old system – so all we know for sure is that there will be more meetings. We also thought Fernando Alonso would race in Bahrain after being given medical clearance, but a follow-up scan by the FIA showed fractured ribs and a damaged lung, ruling him out. And we thought Ferrari might have the pace to conquer Mercedes-AMG Petronas this year – and they might yet, but not on Saturday. That's why the Bahrain race began with another Mercedes one-two, Lewis Hamilton ahead of Nico Rosberg, Ferrari drivers Sebastian Vettel and Kimi Raikkonen behind. The Australian outback is plagued with rabbits, which must have something to do with how Daniel Ricciardo keeps pulling them out of his helmet; the Aussie got his Red Bull up to a surprising fifth on the grid. Williams drivers Valtteri Bottas in sixth and Felipe Massa in seventh would need to get him out of the way quickly to show what the car can do after an unsatisfying race in Australia. Nico Hulkenberg lined up in eighth for Sahara Force India. As proof the qualifying format failed again with its sophomore attempt, the last five minutes of Q2 were disappointing. Hulkenberg had the track completely to himself for his quali run, the only two cars on track after him were the Williams duo who weren't setting a time, but getting a set of soft tires ready to start the race on. As for Q1, the only reason for on-track action in the last three minutes was because Hamilton flubbed his first timed run. Romain Grosjean continued Haas F1's fruitful start to the season with ninth place, ahead of Max Verstappen in the Toro Rosso closing out the top ten. At the end of a long red light to start the race, Rosberg claimed his right to victory before Turn 1.