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Former General Motors CEO nets multimillion-dollar retirement package

Former General Motors CEO Rick Wagoner will officially punch out on Aug. 1 with a compensation package worth almost $8.6 million over the first five years. The deal is significantly lower than what he could have received; it would have been $23 million at the end of last year, Reuters reports.

Japanese Grand Prix (2011) RESULT

Japanese Grand Prix 2011 The reality of the 2011 Japanese Grand Prix is not about who wins the race, but whether Sebastian Vettel can grab the single point needed to clinch the 2011 F1 Drivers title. And from the start he looked like he’d taken a leaf of the Schumacher/Senna book on how to finish off an opponent as he forced Jenson Button off on to the grass as the Brit came powering up his inside from the start. The normally unflappable Button was straight on the pit radio demanding the stewards act, but it’s rare for the stewards to dish out penalties for a scrap in the mêlée of the start, and so it was in this case.

Porsche says 1952 356 Cabriolet is oldest one sold in the U.S.

A 1952 Porsche 356 cabriolet owned by Robert Wilson of Oklahoma City, Okla., has been named the winner of a contest to find the oldest Porsche sold in America. Porsche Cars North America ran the contest, which asked owners to submit documentation showing when their cars were first sold, as part of its celebration of 60 years of selling cars in the United States. Wilson's car, which he found in a salvage yard, was imported in November 1952 by Max Hoffman, who started bringing Porsches to the United States in 1950.