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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

2016 Ford Taurus to ride atop reworked Fusion platform

Generally, cars get bigger and heavier as they get older. That's why it looks so ridiculous when you park a classic Mini next to a modern version. The same can be said of the Corvette, the BMW 3 Series, Porsche 911 and, of course, the Ford Taurus. In the Taurus' case, though, that size has become a liability, particularly because the big brute isn't nearly as sizable on the inside as it is on the out.
For 2016, Ford is aiming to rectify that. According to Edmunds, the 2016 Taurus will ride on a stretched and widened Ford Fusion platform. Ford is expecting this move to go a long way in trimming the Taurus' ample body fat.
"The problem with today's Taurus is that it is overweight and even the high performance SHO is not really competitive," said a source that spoke to Edmunds on condition of anonymity. The 365-horsepower SHO variant, "actually weighs about as much as the stretched Audi A8 L. Of course, Audi uses an extensive amount of aluminum, but it is a much bigger car."

Ford demonstrates Mustang's new Line Lock burnout feature

Been saving your pennies for a 2015 Ford Mustang? Put in a few extra shifts or some overtime? Got a great down payment ready? Well, however much you saved for your new pony car, start saving more - you'll need the extra money to spend on tires.
That's because the Mustang will come with a system called Line Lock, which can lock the front brakes electronically, allowing drivers to perform big, dumb, smoky burnouts without moving so much as an inch. It's sort of like launch control, only the average driver might actually use it.
Now, line locks aren't uncommon, particularly in drag racing. Usually, a flip of the switch locks the front brakes. The Mustang, besides offering the system from the factory which is unique in and of itself, looks a bit more involved.