E32 735i Rear Seat Belt Shoulder Strap Retractor Left/right on 2040-parts.com

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.

Ferrari releases teaser image of Enzo successor

Update: Ferrari has released a new image of the Enzo successor's rear, which we've attached above. Of the 288 GT0, F40, F50, Enzo and its upcoming successor, Ferrari Technical Director Roberto Fedeli says, “Let's refer to them as our 'specials.' " That works for us. In a day and age when a Porsche Boxster S delivers performance on a par with yesterday's supercars, that particular appellation seems to have lost much in the way of meaning.

Get a classic car restoration scholarship

Hagerty recently announced it has teamed-up with LeMay–America’s Car Museum to help develop a new program focusing on education on vehicle restoration. This hands-on learning program has been dubbed the “Hagerty Education Program at America’s Car Museum,” and will provide scholarships as well as educational grants to students who are eager and committed to the collector-vehicle industry. Hagerty wants to carry on the success of the former Collectors Foundation, originally introduced in 2005, to continue to educate young people between the ages of 14-25 on the inner workings of the automotive preservation and restoration process.