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Former General Motors CEO Robert Stempel dies

Former General Motors CEO Robert Stempel, who led the automaker during a turbulent period of recession and restructuring in the early 1990s, has died at the age of 77. "Bob was a very popular chairman with employees, and his many accomplishments as a visionary engineer included leading the development of the catalytic converter, one of the great environmental advancements in auto history," GM said in a statement. "His knowledge of battery development led to the push for the EV1 electric car, and Bob continued to build his expertise in the electrification of the automobile after he left GM in 1992." Stempel died Saturday in Florida, the Detroit News and Detroit Free Press reported Monday night.

Ferrari 550 Barchetta Zagato GTZ sells at Bonhams

The Ferrari 550 Barchetta Zagato GTZ - fetched £350k at Bonhams Regular readers may remember that we exclusively reported that Zagato were working on five Ferrari 550 Barchettas to create the Ferrari 550 GTZ just over a year ago. That report caused all sorts of grief as Zagato and their photographer threatened us with all manner of hellfire and brimstone for spoiling their secret. The resulting grief meant we had to take down their photos, but our story stood.

General Motors CEO Rick Wagoner out, replaced by COO Fritz Henderson

General Motors chairman and CEO Rick Wagoner has agreed to "step aside" after pressure from the Obama administration last week, ending his eight-year tenure at the helm as the company seeks additional federal aid. He's been replaced by GM President and COO Fritz Henderson, effective immediately. GM confirmed the moves shortly after midnight Monday.