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Ferrari to pay Fiat Chrysler $2.8B prior to spinoff

Fiat Chrysler Automobiles is trying to get capital together in a hurry to finance the automaker's growth plans. Among its strategies to raise money, Ferrari will be spun off from the FCA mothership next year with an initial public offering. However, the Italian supercar maker will be a couple billion dollars poorer at the start of its new life.
According to a filing with US regulators obtained by Automotive News, FCA intends to "enter into certain other transactions including distributions and transfers of cash from Ferrari currently estimated at 2.25 billion euros ($2.8 billion)" before it spins the supercar maker off. Those funds might include paying a dividend to investors, and FCA possibly transferring some of its debt to the Prancing Horse.
The Ferrari IPO will likely be in the second or third quarter of 2015, according to Automotive News. Ten percent of the automaker will go onto the public market in the US and possibly Europe too, and 80 percent will be distributed among current FCA shareholders. The other 10 percent is held by co-chairman Piero Ferrari, according to AN.

Barrett-Jackson 2014: Michael Schumacher's 1998 Ferrari F300 earns round of applause, $1.7M bid [w/video]

There isn't much in the world that can aurally match the screeching wail of a Formula 1 car at redline. We obviously can't say whether or not the showmanship of starting this 1998 Ferrari F300 in front of the assembled masses at Barrett-Jackson and slowly taking it up to its 18,000-rpm redline had any effect on bidders, but it did, at the very least, result in a round of applause.
This '98 Ferrari F300 was driven 38 times by Michael Schumacher, and there was another round of applause for the driver, who's currently in a medically induced coma and listed in stable condition after a skiing accident. This particular example is number three of nine total built for the '98 season. Power comes from a 3.0-liter V10 engine producing 805 horsepower at 17,500 rpm.
After it was all said and done, bidding ended at $1.7 million (plus another 10 percent in fees). Check out our live images from the auction floor above, and scroll down below for a spine-tinglingly loud auction video and to read its official description.

This computer-generated Ferrari 250 GTO carved from marble rocks

The Ferrari 250 GTO ranks as perhaps the most valuable production car ever made. In just the past two years, units of the ultimate '60s sports car have sold for $32 million, $35 million and maybe as high as $52 million. With just 39 of them ever assembled, these Ferrari owners are among a rarefied class of an already top-tier class of car collectors. So once you collect the ultimate car, then what do you do? How about buy a scale model of it hewn from a single block of Arabescato marble by stone specialist Lapicida?
Interestingly, no sculptor developed a leathery callouses on his or her hands over the hundreds of man hours surely necessary to create this work of art, nor were dozens of hand tools worn to the nub in the pursuit of this homage to Italian performance. To create the 1:3.6 replica of a 1962/1963 GTO, Lapicida simply laser-scanned an actual GTO and fine-tuned the resulting data in 3D modeling software. Then, the file was sent to a computer-controlled, five-axis mill to shape the marble, which was selected because the veining gave the illusion of speed. Finally, it was hand-finished to make sure the details were as crisp as possible. The completed model measures 47.2-inches long, 18.1-inches wide and 13.4-inches tall and retails for a tidy £30,000 - over $49,000 USD.
Impressive though it may be, it seems hard to imagine spending that sort of money on a car that you can't sit in or drive down the road. Then again, if you can afford to own a real 250 GTO, it's barely pocket change. Lapicida also takes commissions, so if you want a marble model of your car, they're happy to do it. Then again, if you just need your foyer retiled or your personal chef's is demanding an upgraded kitchen, they'll do that, too. Scroll down to get the full details on the model.