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Obama calls for shared sacrifice in auto bailout

President-elect Barack Obama says he wants to keep tough conditions on automakers that get federal loans. The companies must develop sustainable business models because it would be unacceptable "to keep them on their lifeline through taxpayer dollars in perpetuity," Obama told The Washington Post. Obama said industry restructuring will require "everybody, from labor to management to creditors to shareholders, giving something up." His comments contradict suggestions that the new administration will relax federal loan agreements reached last month with General Motors and Chrysler LLC, possibly with softer demands on the UAW.

New MINI Paceman highlighted on video

With the production version of the MINI Paceman now revealed, MINI has produced a couple of videos to show off its new Coupe. The new MINI Paceman, the Coupe version of the MINI Countryman and MINI’s answer to the Range Rover Evoque, was revealed earlier this week before heading off to thye 2012 Paris Motor Show. And although MINI did manage to produce a whole heap of photos of the new Paceman, there’s nothing quite like a video or two to get proper perspective.

Ferrari F12 TRS: the one-off made for the 2014 Ferrari Cavalcade

By Tim Pollard First Official Pictures 23 June 2014 10:25 This Ferrari F12 TRS is a new one-off Ferrari F12 barchetta shown at the weekend's Ferrari Cavalcade, a parade of 90 prancing horses on the Italian island of Sicily. It just goes to show that for the wealthiest customers, even a £239,000 Ferrari coupe isn't good enough...  An anonymous Ferrari owner commissioned the bespoke model, which is based on the F12 Berlinetta and said to be inspired by the 1957 250 Testa Rossa. It's an 'extreme, two-seater, open-top sports barchetta,' says Maranello.