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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:

Ex-Ferrari chairman sounds off on IPO

Former Ferrari chairman Luca di Montezemolo preferred to put exclusivity over profits when he ran the company, and the lower volume still meant huge amounts of cash for the business. FCA CEO Sergio Marchionne has since taken over Ferrari, but that hasn't stopped di Montezemolo from voicing his opinions. "I hope that the clients will remain more important than the analyst or the investor or the financial markets," di Montezemolo said prior to his induction into the Automotive Hall of Fame in Detroit, the Detroit Free Press reported. The former chairman argued that once on the stock exchange, a company would need to maximize profits quarter after quarter to keep investors happy. Conversely, di Montezemolo said Ferrari's years of success came from an "exclusivity in terms of number of cars, exclusivity in terms of how you deal with the clients." When di Montezemolo left Ferrari last year, he and Marchionne were scuffling about the future of the brand, including the health of the Formula 1 program. With the change in leadership, the company has reversed course in some ways. Where volume was previously kept around 7,000 units annually, the carmaker has set a new goal of closer to 10,000. The paperwork was filed for the IPO, and Marchionne thinks the company could be worth over $11 billion. The actual shares are rumored to go on sale in October. Related Video:

Ferrari to pay Fiat Chrysler $2.8B prior to spinoff

Fiat Chrysler Automobiles is trying to get capital together in a hurry to finance the automaker's growth plans. Among its strategies to raise money, Ferrari will be spun off from the FCA mothership next year with an initial public offering. However, the Italian supercar maker will be a couple billion dollars poorer at the start of its new life.
According to a filing with US regulators obtained by Automotive News, FCA intends to "enter into certain other transactions including distributions and transfers of cash from Ferrari currently estimated at 2.25 billion euros ($2.8 billion)" before it spins the supercar maker off. Those funds might include paying a dividend to investors, and FCA possibly transferring some of its debt to the Prancing Horse.
The Ferrari IPO will likely be in the second or third quarter of 2015, according to Automotive News. Ten percent of the automaker will go onto the public market in the US and possibly Europe too, and 80 percent will be distributed among current FCA shareholders. The other 10 percent is held by co-chairman Piero Ferrari, according to AN.