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Porsche reveals extreme 911 GT2 RS

WITH VIDEO-- Porsche has revealed its most powerful and arguably most extreme road-going 911 to date: the GT2 RS. The new rear-wheel-drive road rocket will debut publicly at the Moscow auto show in late August and will go on sale in the United States in October. Sticker price: $245,000.

Obama vows to help rebuild industry to compete, win

President Barack Obama on Tuesday vowed to hold U.S. automakers accountable for "bad practices" but promised to help create a "retooled, re-imagined auto industry." In remarks to a joint session of Congress, Obama gave a sobering assessment of the nation's ills--mainly economic--but said: "We will rebuild, we will recover, and the United States of America will emerge stronger than before." About midway through the speech, the president said: "As for our auto industry, everyone recognizes that years of bad decision-making and a global recession have pushed our automakers to the brink. We should not, and will not, protect them from their own bad practices.

Silverstone gets British Grand Prix

Silverstone has won a 17 year deal to host the British Grand Prix Now the farce that was the Donnington bid has been expunged, we’ve been waiting for confirmation that Bernie Ecclestone will take in to account more than just money and confirm that the British Grand Prix will survive. It seemed certain last week that a deal would happen, and the official announcement has come this morning that Silverstone has secured a 17 year deal to host F1. The key to the deal seems to be the length of the agreement.