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Phil McNamara's 2010 LA Auto Show report

Optimism. California was built on it, and the first press day of the Los Angeles auto show was mired in thick, gloopy, ‘we’re going to save/conquer the world’ with cars rhetoric. Mercedes saw no irony whatsoever in announcing 200 deliveries of the zero emission hydrogen fuel cell B-class, then without missing a beat unveiling the 550hp CLS63 AMG, with huge increases in power and torque.

U.S. equity firm to invest $70 million in Saab

Race-car fan and private-equity executive Alex Mascioli is pumping $70 million into Saab as the Swedish automaker works to stay afloat. Mascioli's firm, North Street Capitol, is buying $10 million in shares of Swedish Automobile, which owns Saab, and is also giving the company a $60 million loan to pay for the carmaker's reorganization. U.S.-based North Street Capital struck a deal in September to buy the Spyker sports-car business from Swedish Automobile for $44 million.

Indianapolis 500: HPD wins Louis Schwitzer Award for refueling system

Honda Performance Development on May 21 won the 45th-annual Louis Schwitzer Award for motorsports engineering innovation and excellence in recognition of the Honda Refueling Safety Interlock System. The system, which reduces the potential for fires in pit lane when refueling, was created by a team at HPD led by Roger Griffiths, Jim Goodloe, Marco Martinelli and Robert Bell. The key part of the system is an electronic fuel-probe sensor installed on an Indy-car's inlet valve into which ethanol fuel flows.