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Ford cuts CEO's compensation 37%

Ford Motor Co. CEO Alan Mulally earned $13.57 million in total compensation in 2008, a 37 percent decline, as the automaker avoided seeking a federal bailout while posting a record loss. Mulally will take an additional 30 percent cut in salary this year and next as he battles a global financial crisis and the worst U.S.

Aston Martin V12 Vantage S arrives – the quickest production Aston ever (video)

The new, more powerful, Aston Martin V12 Vantage S arrives Aston Martin has been teasing something ‘Coming soon’ for a few days, and here it is – the new V12 Vantage S. The new S replaces the V12 Vantage (which we knew Aston Martin had stopped building) and gets Aston’s latest AM28 version of the venerable V12 with 565bhp and 457lb/ft of torque thanks to new engine management, combustion chambers and camshafts resulting in more power and a much flatter torque curve. The extra power has pushed the V12 S beyond the 200nph barrier, with the top speed now 205mph and, we assume, a quicker sprint to 62mph, but Aston Martin aren’t letting on how much quicker the V12 S is.

2013 Australian Motor Show axed

This year’s Australian Motor Show in Melbourne has been cancelled by its organizers three months before its planned opening. Falling attendance figures played a big part in taking the decision, as did what is seen as a lack of manufacturer support. The Australian International Motor Show Joint Venture's event director Russ Tyrie said the decision was taken "based on a consensus view of the automotive industry to focus limited marketing budgets in 2013 on firm-specific activities, rather than an industry-based motor show." The Volkswagen Group's decision not to attend may well have acted as the final nail in the coffin along with Hyundai's hesitancy despite initial support.