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Tesla pays off its government loans

Tesla paid off the last of its $465 million government loans May 22, nine years ahead of schedule, thus outperforming most U.S. college graduates and the vast majority of American homeowners. Tesla used funds from a stock offering to finish the loan with a whopping bank transfer of $451.8 million Wednesday, pointing out that it was “…the only American car company to have fully repaid the government.” Apparently no one at Tesla was even born when Lee Iacocca paid off Chrysler's $1.2-billion government bailout ahead of schedule back in 1983.

Big Spenders Flock To Bohnams Festival Of Speed Auction

GOODWOOD’S Festival of Speed might be famous for the action on its famous hill, but there’s more to the self proclaimed ‘world's largest motoring garden’ than just the racing. And just to prove the point, this year the annual Bonhams sale earned a staggering £22.6 million on the Friday of the event. The star attraction was a 1954 Ferrari 375-Plus, as used in iconic road races such as the Mille Miglia, Targa Florio and Carrera Panamericana, which sold for £10.7 million following a fierce battle between bidders.

Movie review: Cars 2 offers more layers than a good paint job

There is layer upon layer of intricate detail in the movie Cars 2, the sequel to the successful 2006 Pixar release Cars. So much detail, in fact, that you might want to wait until the DVD comes out so that you can freeze the frames and pick out all of the subtle automotive styling cues that abound within. But go see the movie.