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Auto investor Kirk Kerkorian dead at 98

Kirk Kerkorian, among the most talked-about investors in the American auto industry in recent memory, died at the age of 98 in Los Angeles on Monday, June 15. The billionaire ran the investment company Tracinda Corp. and was the largest shareholder in MGM Resorts International. Kerkorian attempted to use his power as a well-financed investor to push the auto industry in some fascinating ways. In 2006, he used his nearly 10-percent stake in General Motors to push a merger with the Renault-Nissan Alliance. The deal made it as far as discussions, but eventually fell through. Kerkorian also attempted to purchase Chrysler - twice. According to Automotive News, the first effort came in 1995 with a $22.8-billion offer for the automaker, and soon after it failed the company merged with Daimler. Then in 2007, Kerkorian was back with a bid for $4.5 billion, but things eventually fell to Cerberus. The billionaire finished the trifecta by buying up $1 billion in Ford stock in 2008 to make Kerkorian the single largest investor in the company. However, the situation didn't last long, and by the end of that year, he had unloaded the shares. According to Automotive News, Kerkorian was ranked by Forbes as the world's 41st richest man in 2008 with a net worth of $16 billion. News Source: Automotive News - sub. req.Image Credit: Joe Cavaretta / AP Photo Celebrities Earnings/Financials Chrysler Ford GM obituary

2015 Chrysler 300 First Drive [w/video]

When Chrysler last updated its 300 in 2011, the fullsize sedan market was a very different place than it is today. Ford's redesigned Taurus was in showrooms, sure, but segment stalwarts like the Toyota Avalon and Chevrolet Impala were languishing at the tail end of their model cycles. And still, the second-generation 300 (not counting the "letter series" cars from the 1950s and '60s, of course) failed to recapitulate the booming success of the model reboot in 2004. Something in the combination of the down economy, higher gas prices and great product from front-wheel-drive entries in the class kept the 300 from the six-digit sales numbers it saw in the early 2000s. For the 2015 model year, Chrysler hopes that a more clearly defined purpose for its big sedan, combined with liberal dipping into the corporate tech toy box, will rekindle buyer interest. Considering the mild characters and front-driver dynamics of its mainstream competition, the promise of V8 power and rear-wheel drive should at least turn the heads of those looking for a car with a little edge. I grabbed the keys of the edgiest of the bunch, the sport-intended 300S, and found a big sedan that gives away some practicality to the rest of its segment mates. The trade-off for the dip in pragmatism is an uptick and driving fun and attitude that should make all the difference for the right buyer. Even though the hard-to-miss face of the 300 has come in for another nip and tuck, that attitude is still clearly on display, too. The grille of the 300 is some 33-percent larger than the outgoing model, though it's still far less brutal than the throwback styling of the 2005 "Baby Bentley" car, at least to my eyes. The cheese grater insert is metallic in most trims of the 300, though the 300S you see in my photo set gets the meaner blacked-out treatment. A quick scroll through our gallery will show you that the rest of the 300 has been similarly changed but not reinvented. Light clusters front and rear are revised, the rear clip has been re-forged with less busy styling, and the whole car has been de-chromed to a large extent (this 300S is wearing the least blingy outfit of the bunch). That rear spoiler is S-model specific. I held the existing 300 interior in fairly high regard, and this new car improves on that base.

Google's deal with FCA is the 'first phase' of partnership

Google and Fiat Chrysler Automobiles confirmed a partnership Tuesday in which the two companies will collaborate on creating autonomous minivans. The two companies will work together to build and test approximately 100 Chrysler Pacifica hybrid minivans, and they first of the bunch could hit the road by the end of the year. This marks the first time Google has worked with a traditional automaker in designing a self-driving car since the start of its autonomous project in 2009. "FCA will design the minivans so it's easy for us to install our self-driving systems, including the computers that hold our self-driving software and the sensors that enable our software to see what's on the road around the vehicle," Google said in a written statement. "The minivan design also gives us an opportunity to test a larger vehicle that could be easier for passengers to enter and exit, particularly with features like hands-free sliding doors." "Those of us in the tech industry recognize how hard it is to build cars." – Jennifer Haroon. That could be particularly important if Google and FCA intend to launch the autonomous minivans as a competitor to traditional public transportation options. Chris Urmson, the director of Google's self-driving car project, indicated that may be a potential business model during a public meeting on autonomous operations last week. "Public transit executives could be buying autonomous minivans rather than expensive buses," he said. "Federal standards determine what kinds of vehicles cities can use for transit. This needs attention." In the Pacifica, Google's engineers get an all-new minivan. Chrysler showcased the vehicle for the first time in January at the North American International Auto Show in Detroit, and sales of the non-hybrid versions of the vans went on sale last month. FCA CEO Sergio Marchionne says further collaboration between his company and Google is possible. "This first phase of the operation is very targeted. It's designed to take Google technology into the minivan. It's very, very focused," he said, according to Automotive News. The collaboration won't be Google's first experience with hybrids. The Lexus RX 450h SUV is one of the two cars in its current test fleet, which consists of approximately 70 vehicles. With roughly 100 autonomous minivans slated to be part of the collaboration, Google's test fleet will more than double.