1987 Chrysler Lebaron 2-door 2.5l Rare Hardtop Excellent Condition No Reserve on 2040-cars

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DoJ fines Japanese parts firms $740M in massive automotive price-fixing scandal

Nine Japanese suppliers have pleaded guilty in US court over charges of price fixing in the automotive parts industry, resulting in the Department of Justice doling out a total of $740 million of fines, according to a report from Bloomberg. The scandal, which has resulted in General Motors, Ford, Toyota and Chrysler spending up to $5 billion on inflated parts and driving up prices on 25 million vehicles has sent the DoJ hustling into investigations. "The conduct this investigation uncovered involved more than a dozen separate conspiracies aimed at the U.S. economy," Attorney General Eric Holder (pictured above) said during yesterday's press conference.
As the investigation stands, the DoJ has issued $1.6 billion in fines against 20 companies and 21 individual executives, with 17 of the execs headed to prison. Deputy Assistant Attorney General Scott Hammond said, "The breadth of the conspiracies brought to light today are as egregious as they are pervasive. They involve more than a dozen separate conspiracies operating independently but all sharing in common that they targeted US automotive manufacturers."
Big-name suppliers indicted in the investigation include Mitsubishi Electric, Mitsubishi Heavy Industries, Hitachi Automotive and Mitsuba Corporation. A list of fines and other corporations named in the investigation is available at Bloomberg.

Detroit automakers mulling helping DIA avoid bankruptcy looting

It's not really a secret that the city of Detroit is in lots and lots of trouble. Even with an emergency manager working to guide it through bankruptcy, a number of the city's institutions remain in very serious danger. One of the most notable is the Detroit Institute of Arts, a 658,000-square-foot behemoth of art that counts works from Van Gogh, Picasso, Gauguin and Rembrandt (not to mention a version of Rodin's iconic "The Thinker," shown above) as part of its permanent collection.
Throughout the bankruptcy, the DIA has been under threat, with art enthusiasts, historians and fans of the museum concerned that its expansive collection - valued between $454 and $867 million by Christie's - could be sold by the city to help square its $18.5-billion debt.
Now, though, Detroit's hometown automakers could be set to step up and help save the renowned museum. According to a report from The Detroit News, the charitable arms of General Motors, Ford and Chrysler could be set to donate $25 million as part of a DIA-initiated campaign, called the "grand bargain." As part of the deal, the DIA would seek $100 million in corporate donations as part of a larger attempt at putting together an $816-million package that would be paid to city pension funds over 20 years. Such a move would protect the city's art collection from being sold off.

This 1958 Chrysler Imperial Ultra 7 Pointer 1 is Japan's Batmobile

It might be sacrilegious to admit among some auto enthusiasts, but there's more to driving than performance and speed. Sometimes it can be a matter of love, as it is for Yasushi Shiroi, who has spent the last 21 years building a faithful replica of a car from a '60s Japanese sci-fi show.
Shiroi's car is the star of the latest video from The Aficionauto and it's truly a labor of love. This machine, which is sort of like a Japanese Batmobile, is based on a 1958 Chrysler Imperial and is designed to recreate a car called the Pointer 1 from the series Ultra 7. The latter was apparently hugely popular when it ran in Japan in 1967 and 1968, and told the story a seven-member team that fought off aliens attacking Earth. While the car in the series never actually ran, Shiroi wanted one that would.
The Pointer 1 has been in constant development since Shiroi has owned it. All of the body modifications have been done in steel, but mechanically, it remains something of a mess. This replica might be slow - and to many people, ugly - but it has brought its owner about as much happiness as a car can, and that's something worth celebrating. Scroll down to check it out.