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Petrolicious goes running up that Hill in a Ferrari 250 GTO

We might not ordinarily run a seven-minute clip of in-car footage. But this is no ordinary car, it's not being driven by any ordinary driver, and it wasn't put up by just any YouTube user. This is video of a Ferrari 250 GTO once raced by Phil Hill, being driven by his son, Derek Hill, in a hillclimb for Petrolicious. The footage was captured during the making of a previous clip, entitled The Ferrari 250 GTO Speaks for Itself and released over a year ago. Since it was left over after production, the Petrolicious uploaded it here for our enjoyment. Of course the GTO should require no introduction, being one of the most sought-after classics the world has ever known. And neither should Derek Hill. While the former's clout goes without saying, Hill's skills warrant repeating. The late legend Phil Hill was one of the few Americans to succeed in European racing in the 1960s, with a Formula One World Championship title and three Le Mans wins to his name. Derek may never have reached his father's level of success, but he's won races and titles in both formula and sports-car racing, and was among the last to professionally race a Bugatti when he campaigned an EB110 at Daytona back in 1996. The point is, the guy can drive, and you can see that much for yourself from the video above. Related Video:

Haas F1 secures engine deal with Ferrari

Plans are coming together for Gene Haas to launch his US-based Formula One team in 2016. The tooling magnate and NASCAR team owner has renamed his grand prix racing outfit from Haas Formula to Haas F1, he's setting up shop in North Carolina with a satellite location to be announced somewhere in Europe, and now he's penned an engine supply deal with Ferrari.
The deal doesn't come as such a surprise after Haas signed on as a sponsor with the Maranello squad a couple of months ago, but confirms the reinforcement of the partnership between the two teams. "The multi-year agreement," according to Ferrari in the statement below, "is for the supply of the entire power unit starting from 2016," including the engine, hybrid assist and presumably the gearbox as well. But that's not the extent of the deal.
Billed as a "technical collaboration agreement," the deal opens the door for Haas and Ferrari to cooperate even more closely than the latter does with existing powertrain customers Sauber and Marussia. "We believe this new partnership has the potential to evolve beyond the technical role of supplying our power unit and all related technical services," said Scuderia Ferrari team principal Marco Mattiacci.

Michigan man gets jail time for Ferrari engine sale

Tax evasion is not something to mess about with. Ask Al Capone. For most of us that sell stuff, though, it's not something we really think about. Are you honestly going to pay taxes on that old iPhone 5 you sold? The couch with the questionable stain? No, because paying tax on something you sold for a relative pittance is just a pain in the butt. If you sell one of Aurelio Lampredi's Ferrari engines – used in a range of vintage racers, including the 750 Monza shown above – for over $600,000, you might want to make a point of paying the taxes on your profits. A Michigan man found that out the hard way, Reuters reports, after selling the Lampredi engine in 2009. 71-year-old Terry Myr of Smiths Creek, MI, was convicted in April of tax evasion and four counts of failing to file a tax return and was sentenced to two years in prison and two years of supervised release on Thursday. He was also ordered to pay $738,904 in back taxes, interest, and penalties – he already owed $195,000 in back taxes before his conviction – by a US District Court judge, Reuters reports. Now, this wasn't a simple case of Myr forgetting to set some money aside from the sale. The buyer wire-transferred the $610,000 into a corporate account he made the week prior. Then, Myr promptly withdrew $360,000, which he used to buy silver and gold coins, while the remainder was transferred to other accounts – be they personal or corporate – or simply used for checks to cash. Hence the tax evasion charge. According to Reuters, no explanation was given as to how Uncle Sam uncovered the engine sale in the first place. Related Video: