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Zetsche's CEO tenure extended through 2016 at Daimler

There appear to be two takes on Daimler CEO Dieter Zetsche having his contract extended for three more years, to 2016. A report in The Detroit News quotes the chairman of Daimler's supervisory board, Manfred Bischoff, talking up the stability at the top, "With today's extensions of the contracts of Dieter Zetsche and Thomas Weber, we are maintaining the important continuity at the top executive level." Bischoff also stated that that Zetsche has a plan to "further enhance Daimler's overall performance."
Over at Reuters, though, the three-year extension was seen as a lack of complete confidence in Zetsche's plans, since his contract was supposedly meant to be extended by five years. A spokesman said the board decided to extend executive contracts by only three years if the person was 60 or would turn 60 during the contract, but that was news to observers. Zetsche wants to make Mercedes-Benz the top selling luxury manufacturer globally by 2020, but has fallen to third place behind Audi and BMW. It hasn't held the top spot 2005, and investors judged it valued at half that of BMW at the end of 2012 once Daimler's truck business was subtracted.
Analysts cites the fact that Daimler stock hasn't bested its rivals but twice in twelve years, and that the company revised its profit target downward last year by nearly one billion euros, warning of stagnant earnings this year and will miss its original margin target for 2013.

2016 German Grand Prix race recap: so-so racing, great questions

We can summarize the 2016 German Grand Prix in one sentence: Mercedes-AMG Petronas driver Lewis Hamilton started second on the grid, passed pole-sitter and teammate Nico Rosberg before the first corner, and dominate to the finish. In fact, Hamilton turned his engine power output down on Lap 3 and still took the checkered flag seven seconds ahead of Red Bull driver Daniel Ricciardo. Ricciardo's teammate Max Verstappen crossed the line another six seconds back. Rosberg fell to fourth at the first corner and couldn't find the pace to reel in the Red Bulls. His questionable pass on Verstappen didn't help when the stewards penalized Rosberg five seconds; the overtake reminded us of Rosberg's move on teammate Hamilton in Austria. That penalty turned into eight seconds when the Mercedes-AMG Petronas stopwatch didn't work in the pits. Ferrari pilots Sebastian Vettel and Kimi Raikkonen finished fifth and sixth. Those six drivers all started in the top six, too. Behind them, on Lap 28 of the 67-lap race the next four drivers were Valtteri Bottas in the Williams, Nico Hulkenberg in the Force India, and Jenson Button and Fernando Alonso in McLarens. Low fuel and old tires put the kibosh on Alonso's pace just four laps from the finish, allowing Force India's Sergio Perez to pass, rounding out the top ten. The issues up for debate during the four-week break are far more interesting than the weekend's race. As bad as Ferrari's day might have been – and we'll get to that – Rosberg probably took the biggest hit, losing the race before the first corner for the second weekend in a row and falling 19 points behind Hamilton. Rosberg won the first four races of the season, then the teammates tripped over one another in Spain. Hamilton's won six of the seven races since Spain, Rosberg's best result in that time is a second-place in Hungary. Hamilton turned his engine down on Lap 3 (!) because he's used his entire season's allotment of five turbochargers and five MGU-Ks. Those early-season gremlins now have him on edge of grid penalties. Unless Hamilton's momentum cools off in August, however, that reliability danger might be the only dent in his armor. Rosberg, who once led the Championship by 43 points, will surely drown in his thoughts – and maybe schnapps – over the summer break. Whatever the Italian word for "meditation" is, there'll be a lot of it at Ferrari during the F1 summer break.

The most or nothing: Mercedes-Maybach S650 Cabriolet pushes the luxury limits

After the introduction of the Mercedes-AMG GT Roadster at the Paris Motor Show this fall, we informed you that Mercedes-Benz has a convertible conundrum, a surplus of drop-tops that seemingly threatens to self-cannibalize within the brand's ever-proliferating lineup. Benz's head of design, Gorden Wagener, who spends much of his time in Southern California, argues it's not a problem: Each convertible, in its ideal construction, would intrinsically vanquish any issues. "The bad is the enemy of the good," he said, not exactly quoting Nietzsche. Now, the three-pointed star brand has upped the top-down ante, with the unveiling this week at the Los Angeles auto show of the Mercedes-Maybach S650 Cabriolet, a vehicle so opulent, it sits in price and position atop the uber-luxury brand's current top-of-the-line offering, the $247,900 Mercedes-AMG S65 Cabriolet. View 24 Photos "Mercedes-AMG is our performance brand so it's all about performance stuff," says Wagener in a one-on-one interview on the roof of a Beverly Hills mansion just before the new car is unveiled. "Of course, Maybach has power, too, but it's the ultimate in luxury. So it's more on that side. And for me in the interior, it's the haute couture of the automobile, so we tried to up that a little more with details. And on the exterior, it's a more superb appearance up front, more chrome, more rich, and of course we tried to up that branding even more. The S-Class is the best car in the world, we consider, I always thought we could raise the Mercedes brand. And it's the same with the S convertible." Why does Mercedes-Benz need a flagship atop its flagship? Because, when climbing the mountain of automotive luxury there is always the customer who, when he or she reaches the pinnacle, wants more. A car brand, especially one with deep pockets and luxurious heritage like Mercedes, can always further gild the automotive lilies, creating a step up for those for whom the brand's motto, The Best or Nothing, is a literal life credo. "It's always our job to make it better," Wagener says. "Each little detail, the wood, the wood under cover of the cabriolet, the leathers. All the super luxury details that make a luxury car into a super luxury car. The key is to make a modern luxury design and not a traditional luxury design. There is definitely a market for traditional luxury, but we always wanted to have Mercedes, Maybach in particular, as a modern luxury car.