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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.

Toyota prices RAV4 EV at $50,610 before tax incentives

Toyota Motor Corp. unveiled the production version of its RAV4 electric vehicle, which carries a battery pack and electric motor system developed in collaboration with Tesla Motors. The crossover will carry a sticker price of $50,610 including an $810 destination charge but before available tax incentives of $2,500 in California and $7,500 at the federal level.

German Grand Prix Qualifying (2014): Rosberg on pole for Mercedes – Hamilton crashes out

Rosberg takes pole in the 2014 German Grand Prix Lewis Hamilton managed to close the gap to Mercedes teammate Nico Rosberg at the British Grand Prix two weeks ago after Rosberg’s car fell foul to mechanical failure, but it was Lewis’s turn to catch the Mercedes mechanical gremlins today as brake failure in qualifying saw him crash out. Hamilton suffered brake failure ten minutes after qualifying began and crashed heavily at speed in to the stadium section, going out of qualifying and causing a red flag for the session. Lewis was checked over after the heavy crash and is fine, but the pole position subsequently gathered in by team mate Rosberg won’t have been any consolation, Just fou7r points behind Rosberg in the driver’s championship battle after the British Grand Prix, Hamilton now faces a big uphill struggle to minimize Rosberg’s advantage in tomorrow’s race, but at least Hamilton’s first flying lap before the crash has sealed him 15th spot for the race.