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Russo and Steele's Arizona auction closed Friday as weather wreaks havoc

The Russo and Steele auction site in Scottsdale, Ariz., was closed Friday morning--and may not open to the public at all during the day--as city and auction officials assess damage after high winds Thursday night ripped tents from their anchors and damaged several cars. Scottsdale police were not letting anyone into the site as collapsed tents and metal beams remain a hazard. One person was treated for minor injuries.

Chrysler posts $212 million quarterly profit

Chrysler Group on Thursday reported third quarter net income of $212 million, up from a net loss of $84 million a year earlier. Revenue rose 19 percent to $13.1 billion. The company ended the quarter with $9.5 billion in cash, down from $10.2 billion at the end of the second quarter.

Toyota FT-86 Concept – say ‘hachi roku’

The Toyota FT-86 Concept will preview at Tokyo The FT-86 (hachi roku is Japanese for 86) is a small (13′ 8″ long) rear-wheel drive sports coupe which is going to turn up not just as a Toyota but also as a Subaru. It uses the 2.0 Boxer engine found in the Impreza, but by the time it finds its way to market in 2011 – as both a Toyota and a Subaru – it’s likely to get the next generation Boxer lump. The FT-86 is Toyota’s way of launching itself back in to the sports market – a market it once did well in with cars like the MR2 – and gain some credibility, and custom, from younger drivers.