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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

Ford Fiesta ST in startling track battle against Toyota GT86

On the surface, there's very little that the Ford Fiesta ST and Toyota GT86 (or the Scion FR-S that is sold in the US, or the largely similar Subaru BRZ) share in common. One is a hatchback with power coming from a turbocharged engine routed to the front wheels. The other is a coupe with power coming from a naturally aspirated four-cylinder boxer engine routed to the rear wheels.
Thing is, both of them are reasonably priced performance cars aimed at a similar segment of the automotive marketplace, so a comparison isn't out of the question. It is with all of this in mind that we direct you to the video below, in which the blokes from Evo pit the two manic little machines against one another on a race track. The result? Well, it can be summed up this way: Fast versus fun.
See how the track battle goes down in the video below.

Uber hopes facilities in Detroit will help shape its autonomous future

Hot off the heels of unleashing its fleet of self-driving vehicles in Pittsburgh, PA, Uber announced plans to open a new facility in the Detroit, MI area, reports Automotive News. The new facility was announced at an event hosted by Society of Automotive Engineers in Detroit, MI. Uber's vice president of global vehicle programs Sherif Marakby revealed the news, reports Automotive News. The facility is meant to help the ride-sharing company collaborate with suppliers and automakers in the area. There's no word on where Uber will build the new facility or how big it will be, as those factors have yet to be determined. Just like Pittsburgh, PA, Detroit, MI could become another testing ground for the ride-sharing company. The latest move to open a facility in the Detroit area comes after Uber offered users in Pittsburgh the chance to ride in one of its autonomous vehicle as it looks to gain vital real-world testing. Uber is utilizing a fleet of modified Ford Fusions. Earlier this year in April, the automaker announced a partnership with Google, Lyft, Uber, and Volvo to develop autonomous cars. A new facility in Detroit would strengthen the partnership and help Uber, as well as Ford put autonomous vehicles on the road faster. Related Video: News Source: Automotive News - sub. req.Image Credit: AOL Green Ford Volvo Transportation Alternatives Technology Emerging Technologies Autonomous Vehicles Detroit Uber taxi Lyft ridesharing facility