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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:

McLaren, Red Bull and Ferrari call for unfreezing F1 engines

Formula One is a hugely expensive sport. Not only do you have enormous salaries and logistical expenses, as you would in any other sport, but each team also spends huge sums developing their own chassis from the ground up – and so too do the participating automakers in developing the engines. One of the ways the series organizers mitigate those costs is by freezing development. So once the new crop of V6 turbo hybrid powertrains were developed, that was it. But now three of the of the sport's leading teams are calling on the FIA to unfreeze engine development. Their reason? Unfair advantage. There's little question that Mercedes did the best job of developing its "power unit" to meet the new regulations that took effect at the beginning of this past season. That's how the Mercedes team won all but three of the grands prix this season and finished with at least one car on the podium at every single race. It's also a big part of how the teams that bought their engines from Mercedes this season managed to consistently outperform the other non-works-supported teams. That clear advantage is why Red Bull, Ferrari and now McLaren are calling for engine development to be unfrozen. Their argument is that, under the current locked-down status quo, their engine suppliers (Renault, Ferrari and Honda, respectively) cannot possibly catch up. So unless the FIA and Formula One Management want the next few seasons to be the kind of absolute blow-outs that this past season was, these leading teams argue, the powers that be are going to have to make some changes. For its part, Mercedes naturally counters that unfreezing engine development would send costs spiraling out of control. But then of course it stands to lose the most by re-opening engine development. If those three teams, however, closely intertwined as they are with the three other engine suppliers participating in next year's championship, manage to solicit enough support from the other customer teams and bring the matter to a vote, Mercedes may very well find itself out-numbered. News Source: ESPNImage Credit: Patrick Baz/AFP/Getty Motorsports Ferrari McLaren Mercedes-Benz F1 engine

This computer-generated Ferrari 250 GTO carved from marble rocks

The Ferrari 250 GTO ranks as perhaps the most valuable production car ever made. In just the past two years, units of the ultimate '60s sports car have sold for $32 million, $35 million and maybe as high as $52 million. With just 39 of them ever assembled, these Ferrari owners are among a rarefied class of an already top-tier class of car collectors. So once you collect the ultimate car, then what do you do? How about buy a scale model of it hewn from a single block of Arabescato marble by stone specialist Lapicida?
Interestingly, no sculptor developed a leathery callouses on his or her hands over the hundreds of man hours surely necessary to create this work of art, nor were dozens of hand tools worn to the nub in the pursuit of this homage to Italian performance. To create the 1:3.6 replica of a 1962/1963 GTO, Lapicida simply laser-scanned an actual GTO and fine-tuned the resulting data in 3D modeling software. Then, the file was sent to a computer-controlled, five-axis mill to shape the marble, which was selected because the veining gave the illusion of speed. Finally, it was hand-finished to make sure the details were as crisp as possible. The completed model measures 47.2-inches long, 18.1-inches wide and 13.4-inches tall and retails for a tidy £30,000 - over $49,000 USD.
Impressive though it may be, it seems hard to imagine spending that sort of money on a car that you can't sit in or drive down the road. Then again, if you can afford to own a real 250 GTO, it's barely pocket change. Lapicida also takes commissions, so if you want a marble model of your car, they're happy to do it. Then again, if you just need your foyer retiled or your personal chef's is demanding an upgraded kitchen, they'll do that, too. Scroll down to get the full details on the model.