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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

The 2015 Ford Mustang is not so mellow in yellow

When we first saw the 2015 Ford Mustang, much was made of its new, more expressive color palette, which includes the return of both yellow and orange in addition to a new grayish shade, Guard. At that time, we didn't have anything to look at but a few small scale models painted in the new colors - the only Mustangs on display were in Race Red.
For its auto show debut here at in the Motor City, Ford has trotted out a couple of as-yet-unseen shades, including the striking Triple Yellow shown above. The new shade marks a return to a paint color that enthusiasts have been clamoring for, and we must say, it looks excellent under the lights of Cobo Hall.
Stat wise, there are still a number of questions we have about the redesigned Mustang. None of the three engines have had official power figures published. The same goes for pricing information, although if any loose-lipped execs let something slip in Detroit, we'll be sure to let you know. Until then, have a look at the new Triple Yellow Mustang on display at the 2014 Detroit Auto Show.

Will the new Ford GT race at Le Mans?

Ford stole the spotlight here on the floor of the Detroit Auto Show this year with the reveal of the new GT. Its carbon-fiber chassis, 600-plus-horsepower EcoBoost engine and radical aerodynamic shape made sure of that, but flanking it with the debuts of the Mustang GT350R and F-150 Raptor didn't hurt any, either. Any racing fan looking at the new Blue Oval supercar, however, had to wonder whether Dearborn is planning on putting it on the race track. The House that Hank Built is, after all, a known entity in motor racing. It may be canceling its V8 Supercars program Down Under, withdrawn its support from the World Rally Championship, and it's been years since it's competed in Formula One or Indy. But it still competes in the United SportsCar Championship, NASCAR, NHRA and a variety of motor racing disciplines. One of its most famous and celebrated of racing endeavors, however, came in the form of the original GT40 that brought Ford four consecutive victories at the 24 Hours of Le Mans, starting with a dominant one-two-three finish in 1966. It's the 50th anniversary of that landmark win which the new Ford GT celebrates, but while the press materials made clear reference to that historical event, any mention of a return as was previously speculated was carefully omitted. That, according to Autosport, could come down purely to the ACO, the organizers of the event and sanctioning body for its associated series, which has yet to announce the revised format for the GTE class under which a potential Ford GT racer would compete in 2016. Longtime Ford racing partner Multimatic is said to have closely consulted with the ACO on the formation of those rules, however, and assuming they're finally formulated to Dearborn's liking, we could be looking at a GTE-spec Ford GT to return to La Sarthe next year in celebration of that landmark victory half a century prior. Chip Ganassi Racing – which races under Chevy power in NASCAR and Indy but recently switched to Ford for its Daytona Prototype – is said to be in line to field the car on Dearborn's behalf. If given the green light, it would be the first time Ford would field a factory effort at Le Mans since the C100 project under the Group C category in the early 1980s. A racing version of the previous Ford GT was prepared by Switzerland-based Matech a few years ago, but without factory support or notable success beyond the FIA GT3 European Championship.