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Where did Ferrari's new CEO come from? Cigarettes and money

At the close of the 2006 Formula One season, cigarette advertising was banned from the cars on the grid. Arguably the most prominent and widely recognized brand/car package was the red, black and white Marlboro logo that encompassed the Ferrari cars. Marlboros were marketed by the company then known as Phillip Morris. Phillip Morris became part of a conglomerate named Altria. The man who was the CEO of Altria at the time of the tobacco advertising ban, a man who had long been an exec at what was still just Phillip Morris during the 1980s and 1990s, when much of the truly exciting F1 racing occurred, was Louis C. Camilleri. Camilleri has been given the powers of the CEO by the board of Ferrari and is likely to be given the official job within days due to the unfortunate health-related circumstances of Sergio Marchionne. According to a story that appeared in November 2001 on Motorsport.com about the ban on tobacco advertising in Formula One, the organizing body of the sport, the FIA, released a statement that said, in part, "Today tobacco sponsorship remains an important source of revenue for a number of Formula 1 and World Rally Championship teams. The precise value of such sponsorship is hard to estimate but probably exceeds 350 million per year." Serious money. And as Camilleri, presumably, had more than a little something to do with the splashing of the Marlboro signage on the cars of drivers including Schumacher and Massa, his association with Ferrari probably had more to do with nicotine than gasoline. In October 2015 Ferrari's IPO was priced at $52 per share. At the beginning of 2018 the price was at $105.15; as of July 20, $140. Like any good billionaire, he is said to have a collection of Ferraris, though he isn't a "car guy" in the traditional sense of coming up in the business. (One of the Altria companies had been Kraft Foods, so he may know more than most about things like Velveeta.) But Ferrari is as much about serious money as it is about V12s nowadays, maybe more. Related Video:

2020 Ferrari F8 Spider loses its roof for Frankfurt

The inevitable has, well, happened: The F8 Tributo has received a drop-top twin in the form of the 2020 Ferrari F8 Spider. It's pretty much exactly what you would expect. Most of the body is identical to the Tributo except for the power retractable hardtop that replaces a targa-style roof panel and the rear window, leaving large flying buttresses with the top down. The drawback to the removable roof is that you can no longer view the engine through the window, as that panel also hides the top and mechanisms. Powering the F8 Spider is the same turbocharged 3.9-liter V8 as the coupe. It still makes 710 horsepower and 568 pound-feet of torque. It's a high-revver, too with a redline of 8,000 rpm. The V8 is coupled to a 7-speed dual-clutch transmission. Being a convertible, the Spider does add an extra 154 pounds over the coupe, and thus is a touch slower. The 0-62 mph time is unchanged at 2.9 seconds, but on the way to 124 mph, the Spider takes 8.2 seconds versus the coupe's 7.8 second time. It does have the same 211 mph top speed as the coupe, though. Pricing and availability have not been announced for the F8 Spider. We expect it will have a price premium over the coupe's $274,280 base price.

James May's Ferrari 488 GTB road test makes us miss Top Gear

Whoever the BBC lines up for the next iteration of Top Gear, the reality with which we're coming to grips is that the show will likely never be the same. The question is whether the departing hosts will ever be the same without each other, and without the show that brought them together. This clip could go a long way towards answering that question, though. In this video review for the Driving section of the Sunday Times, James May joined the gaggles of gathering journalists in Maranello to check out the new Ferrari 488 GTB. And suffice it to say, it's not quite as entertaining (or even as well-informed) as most of the segments in which we've grown accustomed to seeing Captain Slow driving fast cars. James does have some rather relevant experience he might have imparted, though, seeing as how he didn't just drive the ultimate version of the preceding model – he went out and bought himself a 458 Speciale shortly before losing his job. So with GBP200k of car payments to make, we're hardly surprised to see him fronting for another operation. Whether it's worthy of him or not, you'll want to watch the clip to decide for yourself.