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Auto investor Kirk Kerkorian dead at 98

Kirk Kerkorian, among the most talked-about investors in the American auto industry in recent memory, died at the age of 98 in Los Angeles on Monday, June 15. The billionaire ran the investment company Tracinda Corp. and was the largest shareholder in MGM Resorts International. Kerkorian attempted to use his power as a well-financed investor to push the auto industry in some fascinating ways. In 2006, he used his nearly 10-percent stake in General Motors to push a merger with the Renault-Nissan Alliance. The deal made it as far as discussions, but eventually fell through. Kerkorian also attempted to purchase Chrysler - twice. According to Automotive News, the first effort came in 1995 with a $22.8-billion offer for the automaker, and soon after it failed the company merged with Daimler. Then in 2007, Kerkorian was back with a bid for $4.5 billion, but things eventually fell to Cerberus. The billionaire finished the trifecta by buying up $1 billion in Ford stock in 2008 to make Kerkorian the single largest investor in the company. However, the situation didn't last long, and by the end of that year, he had unloaded the shares. According to Automotive News, Kerkorian was ranked by Forbes as the world's 41st richest man in 2008 with a net worth of $16 billion. News Source: Automotive News - sub. req.Image Credit: Joe Cavaretta / AP Photo Celebrities Earnings/Financials Chrysler Ford GM obituary

Chrysler killing off the 200 Convertible, Dodge Avenger

When Chrysler rolled out the first-generation 200 to replace the Sebring range in 2010, it included replacements for both the sedan and the convertible. The Sebring Coupe, however, was left out of the mix. And now that the second-generation Chrysler 200 is descending upon us, Auburn Hills is paring things down even further. But this time, it's the convertible that reportedly isn't making the cut. Shame, too, since the rendering above shows what could have been quite an attractive droptop.
As our compatriots at Edmunds point out, sales of the convertible model accounted for less than five percent of overall Chrysler 200 sales, and at those numbers, the considerable cost of engineering a new drop-top couldn't be justified. With the Toyota Camry Solara and Volkswagen Eos also gone from the market (well, the VW isn't gone quite yet), the discontinuation of the Chrysler 200 Convertible leaves the affordable convertible segment largely to the sportier likes of the Ford Mustang and Chevy Camaro and smaller European offerings like the Mini Cooper and VW Beetle.
The Chrysler 200 Convertible isn't the only derivative being left behind with the new model: so too is the Dodge Avenger. That will leave a glaring hole in the Dodge lineup, with nothing to bridge the gap between the compact Dart and the larger Charger. Whether the Dodge brand has any plans to replace the Avenger with another model, not to be based on the 200, remains to be seen.

Autoblog Minute: UAW and FCA avoid strike, Clarkson teases new show

FCA avoids a worker strike, a former Top Gear host teases us with a picture from Amazon's new car show, and Toyota predicts autonomous cars by 2020. Autoblog senior editor Greg Migliore reports on this edition of Autoblog Minute Weekly Recap. Show full video transcript text [00:00:00] FCA avoids a worker strike, a former Top Gear host teases us with a picture from Amazon's new car show, and Toyota predicts autonomous cars by 2020. I'm senior editor Greg Migliore and this is your Autoblog Minute Weekly Recap. A UAW strike of FCA was avoided thanks to a zero-hour tentative agreement reached this week. Worker concerns that were renegotiated in the new [00:00:30] deal include adjustments to the two-tier wage scale, health care costs, and production outsourcing. Now check-in with Autoblog as we update our reports on this evolving story. Shooting began on Amazon Prime's new automotive show starring the former Top Gear crew. That's Jeremy Clarkson, Richard Hammond, and James May. Now Clarkson threw out a tweet from day one of filming on location at Algarve Motor Park in Portugal. The picture features the show's [00:01:00] three stars and crew posing with the holy trinity of hyper cars. That's a McLaren P1, a Ferrari LaFerrari, and a Porsche 918 Spyder. This Prime show is being called Gear Knobs though the name is unofficial. Now if a tweet is any indication of what we can expect, who cares what it's called this is gonna be awesome. (Eds Note: Clarkson tweeted Friday that the show will not be called Gear Knobs.) Toyota predicts drivers could be obsolete on highways as early as 2020, with technology dubbed the Toyota Highway Teammate or THT. Toyota is using a modified [00:01:30] Lexus GS to show what this is capable of. THT is already able to create a driverless freeway car that's capable of changing lanes, making passes and taking curves. Plus, it can keep safe distances from other vehicles. Toyota is currently testing this on Tokyo's Shuto Expressway. Those are the highlights from the week that was. Be sure to check out my full recap this Saturday. And I'll have some added insight on the BMW M4 GTS. For Autoblog, I'm Greg Migliore. [00:02:00] Show Logo Autoblog Minute is a short-form video news series reporting on all things automotive. Each segment offers a quick and clear picture of what's happening in the automotive industry from the perspective of Autoblog's expert editorial staff, auto executives, and industry professionals.