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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.

Aston exec leaves for Chrysler

Beth Paretta, one of Autoweek's 10 Secret People in 2009 (Autoweek, Sept. 21, 2009) has left her position as operations manager at Aston Martin to join Chrysler Group LLC as marketing manager for SRT and motorsports. Her appointment is effective this month.

New gadget immobilises cars with electronic pulse

Mitsubishi It might sound futuristic, but British technology company E2V has developed a prototype gadget capable of remotely stopping a car using a burst of electromagnetic radiation. Although it does appear to be a piece of equipment from the ‘James Bond bad guy’ locker, this technology really does work and could be used by police forces in the future. On Bing: see pictures of speeding carsHow motoring convictions affect your car insurance So bank robbers beware – even speeders, too.