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Singapore car salesman jailed for gambling away $280k Maserati deposit

Kenny Rogers' country classic The Gambler is right about two things: you gotta know when to hold'em and know when to fold'em. A former Maserati salesman in Singapore is learning that lesson about when to step away from the table, after being sentenced to 33 months in prison for allegedly gambling away a customer's deposit of 350,000 Singapore dollars ($280,800).
According to Asia One, Allan Tan Buan Yuen was selling a Maserati in 2011. He told the customer that the car would take six months to arrive and cost 650,000 Singapore dollars ($522,000). While that may sound high, cars in the Asian country are notoriously expensive.
Yuen asked for a deposit of 150,000 Singapore dollars ($120,400), but instead of handing the money to the dealer, he placed the funds in his own account. Apparently, the customer didn't notice, and over the next few months Yuen received an additional 200,000 Singapore dollars ($160,400) towards the car from him. Clearly, this ruse couldn't last forever, though. When the buyer eventually inquired about his Maserati months later, Yuen admitted that he had already gambled away the entire fortune.

Stellantis wants to trim 3,500 hourly U.S. jobs, UAW says

WASHINGTON — Chrysler-parent Stellantis NV wants to cut approximately 3,500 hourly U.S. jobs and is offering voluntary exit packages, according to a United Auto Workers union letter made public Tuesday. The automaker is looking to reduce its hourly workforce offering incentive packages that include $50,000 payments for workers hired before 2007, UAW Local 1264 said in a letter dated Monday posted on its Facebook page. Stellantis spokeswoman Jodi Tinson declined to comment. A person briefed on the matter said the figure might be lower than the figure cited in the UAW letter. In late February, Stellantis indefinitely halted operations at an assembly plant in Illinois, citing rising costs of electric vehicle production. The action impacted about 1,350 workers at the Belvidere, Illinois, plant that built the Jeep Cherokee SUV and resulted in indefinite layoffs. The automaker has warned it may not resume operations as it considers other options. The UAW letter said openings created by workers leaving would be filled by workers on indefinite layoff. Stellantis said in February that about 40,000 U.S. hourly workers were eligible for profit sharing. Last week, UAW President Shawn Fain said Stellantis' decision to idle the Illinois plant was "a flat-out violation" of the union's contract with the UAW and is unacceptable. The UAW will enter talks with the Detroit Three before labor contracts expire in mid-September. Earlier this month, General Motors said about 5,000 salaried workers accepted buyouts to leave the automaker. GM CEO Mary Barra said February job cuts of a few hundred jobs and the 5,000 buyouts "provided approximately $1 billion towards" a $2 billion cost cutting target. Ford Motor Co recently announced significant job cuts in Spain, Germany and other parts of Europe and in August said it would cut a total of 3,000 salaried and contract jobs, mostly in North America and India. Hirings/Firings/Layoffs UAW/Unions Chrysler Dodge Fiat Jeep Maserati RAM Stellantis

Maserati MCXtrema revealed as a track-only limited-production 'toy' at The Quail

The Maserati MCXtrema just had its sheet pulled off at The Quail, A Motorsports Gathering. It’s yet another race car variation of the MC20, following in the footsteps of the Maserati GT2. Unlike the GT2, though, the MCXtrema is not designed to be used in any official racing series. Instead, itÂ’s a race car built without boundaries for maximum performance. And of course, because itÂ’s a race car, itÂ’s not street-legal either.  What is it for then? Maserati claims the MCXtrema is meant for “purist collectors and for the loyal customers of the brand, who wish to add a new ‘toyÂ’ to their garage that can swallow up the curbs of the most exciting tracks during private tests.” Basically, just think of it as a millionaireÂ’s toy to take out on the occasional weekend track day. ItÂ’s just for fun, not for any serious competition use. Since itÂ’s not regulated by any specific racing series, Maserati pumped output all the way up to 730 horsepower from the twin-turbo Nettuno V6 engine. ThatÂ’s 109 horsepower more than the road car and the GT2. Maserati didnÂ’t go into detail about the aero and suspension package, but it sure does look as extreme as the name of the car makes it out to be. Only 62 MCXtremas will be built, and from what we can tell, theyÂ’re already spoken for. WeÂ’re not sure how much one will cost either, but youÂ’ll be able to see it in person at The Quail on the Monterey Peninsula today. Related video: