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Former Ferrari chief Montezemolo to be chairman of Alitalia

Luca di Montezemolo may be 67 years old, but he's not quite ready to retire just yet. Not, at least, if the latest reports emanating from Italy are to be believed. According to Reuters, the longtime former Ferrari chief is due to be named chairman of Alitalia.
The troubled Italian airline is on the verge of being bailed out after years of financial difficulty, with Etihad Airways of the United Arab Emirates set to take a 49-percent stake in the company. While the reports have yet to be confirmed by the parties involved, Reuters cites multiple inside sources in revealing that the airline's board met last week and agreed to appoint Montezemolo as chairman, with current Etihad chief James Hogan to act as chief executive officer.
Montezemolo, of course, long served as chairman of Ferrari, having assumed leadership of the company not long after founder Enzo Ferrari died. He also served as chairman of the Fiat group for several years after the passing of Umberto Agnelli, and has headed numerous trade organizations and sporting bodies. But his tenure at Ferrari and the broader Fiat Chrysler Automobiles empire came to an end two months ago when clashes with Fiat chief Sergio Marchionne saw Montezemolo step down.

Ferrari renews partnership with Marlboro [UPDATE]

Formula One and Big Tobacco may have parted ways years ago, but the alliance between Ferrari and Marlboro continues on, apparently as strong as ever. Though neither party has made any official announcement or revealed any details of the arrangement, reports from the motorsport press indicate that the Scuderia and Philip Morris – the tobacco company which owns the Marlboro brand – have signed an extension of their longstanding partnership. Marlboro first arrived in Maranello way back in 1973, ramping up over the years to become its main sponsor by '93. The Italian outfit changed its name to Scuderia Ferrari Marlboro after the tobacco brand parted company with McLaren in '97. After tobacco advertising was ultimately banned in 2006 (at least in Europe), Ferrari was forced to remove the Marlboro branding from its cars, but the name stuck – and so did the logo, in various forms of obscurity and subliminality through 2010. The Marlboro name was dropped from the team's handle in 2011, but that didn't stop the two from renewing their partnership. And now they've reportedly extended again through 2018. Though the deal hardly comes as a surprise (even given the complete lack of discernible public association between the two), we don't doubt that Maurizio Arrivabene – the former Marlboro exec who recently took over the struggling team – had something to do with it. UPDATE: A spokesman for Scuderia Ferrari downplayed the significance of the story, telling Autoblog by correspondence that "the contract is extended through 2018 and details are confidential." UPDATE 2: Philip Morris International responded to our inquiry with the following statement: "Our agreement with Ferrari has been extended beyond 2015, but we are not in a position to provide financial or other details. This partnership provides us with opportunities such as enabling our adult consumers and business partners to experience motor racing through Ferrari factory visits and attending F1 races."

$11.55 million 1964 Ferrari 250 LM highlights RM Auctions' first night in Monterey

Some of the biggest auto auctions of the year are held during the weekend of the Pebble Beach Concours d'Elegance. Millionaires gather in hopes of outbidding their contemporaries for incredibly rare cars. As Bonhams' record sale on Thursday of a 1962 Ferrari 250 GTO for $38 million showed, these days the world's most expensive vehicles are found at auctions, often with a prancing horse on the nose.
RM Auctions' Friday sale reinforced this even more when a 1964 Ferrari 250 LM topped the evening by bringing in $11.55 million, after the 10 percent commission. It wasn't the only million-dollar vehicle of the event, though. A 1965 Ford GT40 Roadster Prototype garnered $6.93 million, and a 1966 Shelby Cobra 427 brought $1.705 million. Even a classic 1948 Tucker 48 had a final price of $1.57 million.
Surprisingly, some rather new cars actually brought in quite big money, too. A 2013 Bugatti Veyron 16.4 Vitesse Le Ciel Californien sold for $2.42 million, and a 2006 Ford GT with just 13 miles sold for $407,000.