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Factory Five Body Design Competition

Following in the footsteps of Local Motors, Factory Five is set to launch an open-sourced design contest to design its next car. Up until now, the Massachusetts-based company is famed for its Type '65 Shelby Cobra Coupe replicas and its GTM racecar. Teaming up with Grassroots Motorsports Magazine, Factory Five is now launching the design contest to design the bodywork for its latest project: a Subaru Impreza-engined, rear-wheel-drive two-seater that is expected to sell for under $9,000 in kit form, or $15,000 as a complete car.

Wiedeking to be offered $140 million to quit Porsche, report says

Porsche CEO Wendelin Wiedeking could be offered a $141 million (100 million euros) payoff to quit the sports car maker to make way for a merger with Volkswagen, Germany's Sueddeutsche Zeitung newspaper reported Friday. The newspaper said Wiedeking has been visited by Porsche Chairman Wolfgang Porsche in the past few days, who “made it clear” that the embattled CEO should step down. Wiedeking has come under fire for allowing Porsche's holding company to amass debts of more than $12.7 billion (9 billion euros) during a failed attempt to take over VW.

New Mustang Madness at Venice Beach

Rick the Hippie rode by us on a battleship-grey 1939 Schwinn--thin, wispy long hair waggling in the chilly breeze, wearing board shorts and a grey flannel Hurley jacket over four layers that puffed out and made him resemble a mushroom. We were having a conversation about the Shelby GT. His eyes, wrapped behind layers of tan wrinkles, lit up.