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Remember this day in GM history: The next century of automotive success starts now

President Obama's administration made history today with what some see as nothing short of government meddling in the affairs of big business. What I see is something else: I see the administration showing that it is serious and raising the level of concern from yellow to orange. Now there is a firm deadline and a message to bondholders, United Auto Worker union members and the American public: Do not be surprised if in the next 30 days--or even sooner-General Motors files for a controlled bankruptcy.

SEMA buys Performance Racing Industry

The Specialty Equipment Marketing Association (SEMA) on Tuesday finalized plans to purchase Performance Racing Industry, and the transaction will close later this month. John Kilroy, who has experience as editor and associate publisher of PRI Magazine and as vice president of the organization, will continue to lead it. For now, according to representatives from SEMA, it's business as usual.

Video: Darrell Waltrip laps Bathurst with V8 Supercar driver Jason Bright

One of the most entertaining things to come out of the Bathurst 1000 last weekend in Australia--besides Garth Tander and Nick Percat taking the checkered flag--was ex-NASCAR driver and commentator Darrel Waltrip going for a wild hot lap with V8 Supercar driver Jason Bright. After taking the first turn at speed in the 650-hp Holden Commodore, Waltrip yells, “Impossible!” The video gets even more entertaining around the Esses and the Dipper, two succeeding corners. The clip is full of repeatable one-liners from Waltrip including, “I lost my lunch, and I didn't even have lunch.” He calls the track on Mount Panorama a geological oddity.