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General Motors CEO Rick Wagoner to quit, reports say

General Motors CEO Rick Wagoner is about to resign after eight years as the Obama administration prepares to decide on the automaker's request for additional government rescue loans, two people familiar with the matter said. A senior Obama administration official told NBC's John Yang that Wagoner, 56, was asked to step down by the White House. The automaker, which has lost about $82 billion since 2004, awaits word Monday from President Obama on a request for as much as $16.6 billion in additional U.S.

Mustangs rule at Fabulous Fords Forever

Mustangs ruled the day at the 29th annual Fabulous Fords Forever car show. “This is the Mustang year,” said Fabulous board member Marc Bodrie. “From 12 months ago, we knew we were going to center this show on 50 years of Mustang.” You could argue that every year is a Mustang year at FFF, with the storied two-door often making up more than half the entries.

Toyota FT-HS Concept (2007): first official pictures

By Tim Pollard First Official Pictures 03 June 2007 02:33 Toyota FT-HS Concept: the lowdown Salvation for supercar lovers in the 21st century: Toyota has turned its hand to creating a sports coupe with green credentials - and the futuristic FT-HS Concept mixes green with mean rather well, we think. Don't believe us? Well, how about 0-60mph in four seconds and 400bhp from a 3.5-litre V6 hybrid drivetrain - in a car that runs silently on electric power through town, with nothing more troubling than an electric whirr from the quad tailpipes.