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American automakers fall in latest Fortune 500 rankings

Not that it means anything beyond bragging rights, but if you're fixated on the positions of domestic automakers on the annual Fortune 500 list, both General Motors and Ford are still on it but they've slipped a couple of notches. The list ranks American companies and they're ordered solely by revenue. GM, fifth last year, came in seventh, while Ford fell from ninth to tenth even though both companies saw small gains in annual revenue.
GM's $152.3 billion in revenue was less than a third of that of the first company on the list: Wal-Mart, which regained the title from Exxon Mobil. Berkshire Hathaway and Apple are the firms that moved GM down. Ford, displaced by energy company Valero, had $134.3 billion in revenue.
On a side note, profitability isn't a factor, but both GM and Ford were down in this year's list compared to last year's: GM declined from $9.2 billion to $6.2 billion, Ford fell from $20.2 billion to $5.6 billion. If profits were included, Exxon Mobil would probably still be king: although the energy company made almost $20 billion less in revenue than Wal-Mart's $469.2 billion, it posted $44.9 billion in profit compared to Wal-Mart's $17 billion.

Ford's Galhotra succeeds Farley as head of Lincoln

Ford Motor Company is announcing a major personnel shakeup that could have a dramatic effect on the future of the Lincoln division. Kumar Galhotra (pictured above), currently vice president of engineering at Ford for all of its vehicles worldwide, is taking over as the president of the luxury brand on September 1, replacing Jim Farley. The automaker is also hiring a new head of advanced engineering.
Galhotra has a huge job ahead of him as the new boss of Lincoln worldwide, overseeing product development, marketing, sales and service. His task is to turn the luxury division into a world-class brand as quickly as possible, and he reports directly to Ford President and CEO Mark Fields.
"These changes underscore our commitment to build on the success of our One Ford plan by accelerating our pace of progress. They also make clear we are serious about Lincoln as a world-class luxury brand and that product excellence and innovation are what will deliver growth and define our entire company going forward," said Fields in the company's announcement.

Meet Shelby Mustang GT500 Miller, Iowa's latest hatchet-wielding criminal

Well, we've found the long-lost cousin of yesterday's Bentley-tattooed criminal from Florida. This is Shelby Mustang GT500 Miller. No, seriously. While his name seems just like the sort of thing we'd expect the Sunshine State to produce, he actually hails from Iowa. Despite coming from the Hawkeye State, Miller was arrested for a decidedly Floridian offense – getting in a bar fight and then returning with a hatchet. The only way this story could be more Florida is if meth, a manatee or bath salts were involved. The fight, which was at the Cheap Seats Sports Bar, started off typically enough, with a verbal argument in the parking lot (please, please let his nemesis be named "Chevrolet Camaro Z/28 Smith"). This, naturally, attracted passing police officers. Things were broken up and some friends took Miller to his home, which was apparently just behind the bar. That's when he returned with the hatchet tucked under his shirt. Miller promptly proceeded to take out the implement of destruction in the bar's bathroom and... forget about it entirely. Fortunately, the police hadn't left the area yet. Not surprisingly, Miller was arrested for a parole violation, as well as public intoxication and going armed with intent. Still, cool name, bro. News Source: Iowa City Press CitizenImage Credit: Polk County Sheriff's OfficeTip: Mike Government/Legal Ford crime shelby iowa