GM posts quarterly net income of $1.96 billion

General Motors Co., in its final financial snapshot before next week's initial public offering of stock, posted third quarter net income of $1.96 billion on revenues of $34.06 billion. The results, released Wednesday, were in line with a forecast issued last week. GM now has earned $4.16 billion on revenues of $98.71 billion through three straight profitable quarters this year--a dramatic swing after five consecutive annual losses.

Ford GT Sells For a Record $11 million at RM's Monterey Auction

RM Auctions sold a 1968 Ford GT40 Gulf/Mirage coupe Friday night at its Monterey sale for $11 million, setting a record for the highest price paid for an American car at auction. The Friday sales showed once again a very strong market for cars selling at auction, according to statistics gathered by classic car insurance giant Hagerty. In comparing this year's sales to last year, the total number of cars sold in two days of auctions was down slightly while the total amount generated -- $67.5 million – is far greater, as is the average selling price.

Show Review: 100% Design 2005

London has recently hosted 100% Design, the city's response to the Milan Furniture Show that currently dominates the product design calendar. Just as the Italians have spread their show over the city, Londoners have begun to do the same, introducing 100% East in the arty East End, and using more floorspace at Earls Court, the exhibition centre that formerly hosted the British Motor Show. 100% Design is complemented at Earls Court by 100% Detail and 100% Material.