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It took four minutes to steal Roger Waters' Ferrari

The owner of a 1973 Ferrari 365 Daytona in Australia is singing Wish You Were Here after thieves stole his red Italian coupe, which counts Pink Floyd lyricist Roger Waters as a former owner. The car was at a mechanic in Melbourne when the brazen crooks rammed open the shop's door in the early morning. They needed just four minutes to get away with the Daytona and a 328 GTB, according to The Drive. This Daytona carries an estimated value of 2.5 million Australian dollars ($1.8 million), and it counts a string of celebrity owners, according to The Age. James Hunt allegedly drove it because the coupe once had a connection to the Hesketh Formula One team. Waters used the car to go to Pink Floyd's recording studio, and magnate Mohamed Al Fayed later had the Ferrari also. He gave it to his son Dodi – Princess Diana's boyfriend when she died. The Daytona wasn't just another brick in the wall to the owner, either. "I don't have any other sport cars, that was the one," he said to The Age. The car just completed a restoration three weeks ago, and it was at the mechanic to sort an alternator problem. Police are still searching for the perpetrators. The 328 was reportedly spotted about 4 miles away after the robbery, but the car was gone when the cops went to check.

Luxury carmakers make way more than just cars

Whether it's as simple as Ferrari offering model cars or as opulent as Bugatti with an $84,000-belt buckle, practically every automaker does more than just sell cars to keep their brands visible. The profits from these ventures might not be enough to keep the lights on, but in such a competitive industry, any extra cash is welcome. For the automakers that get licensing just right, there is a ton of profit to be made. According to a recent story examining the practice by The New York Times, Ferrari makes around $2.6 billion from merchandising each year, and General Motors tops that at $3.5 billion. Beyond just a profit center, merchandising can also protect an automaker's name. Take Hummer for example. The GM division shut down years ago, but it has continued to produce licensed cologne on sale around the world. "Because we still have the active fragrance, we're protecting the brand if we ever decide to bring it back," Gene Reamer, a GM licensing senior manager, told the Times. The whole piece is a fascinating look into this often ignored, but quite lucrative facet of the auto business. Read it for yourself, here. Related Video: News Source: The New York TimesImage Credit: Luca Bruno / AP Photo Design/Style Earnings/Financials Marketing/Advertising Read This Ferrari GM Hummer branding

Ferrari's bid for review of penalty against Vettel is rejected

LE CASTELLET, France — Formula One stewards on Friday dashed Ferrari's hopes of overturning a penalty that denied Sebastian Vettel victory in Canada, ruling that the Italian team had not presented significant and new evidence. Vettel, who finished first in Montreal on June 9 but was demoted to runner-up behind Mercedes' Lewis Hamilton after a five second penalty, told BBC radio he was disappointed with the outcome. Ferrari team boss Mattia Binotto, who had sought a review of the Montreal decision, echoed the sentiment and told reporters the matter was now closed. "As Ferrari we are all very unhappy and disappointed. We are disappointed certainly for Ferrari but for the fans and for our sport," he said. The Italian team believed they had 'overwhelming' proof to trigger a review but the FIA revealed some of that was Sky Sports' television analysis carried out by Indian racer Karun Chandhok. The Indian, who raced in Formula One for now-defunct tail-end teams Hispania and Team Lotus in 2010 and 2011 without scoring a point, was apparently unaware that his opinion formed part of the evidence. "Er... so, can I send you an invoice Ferrari? I mean, lawyers send bills whether you win or lose a case so...!!," he said on Twitter. The stewards decided Chandhok's video was "new but not significant and relevant" and the "personal opinion by a third party." The ruling means that Hamilton, a five-times world champion, has his 29-point lead over teammate Valtteri Bottas confirmed. He's 62 points ahead of Vettel. Mercedes has won all seven races this season, and nine in a row in total, and are favorites to chalk up another in France on Sunday. Ferrari sporting director Laurent Mekies had said earlier that the team believed the evidence to be "quite overwhelming when it comes to establishing that Sebastian did not breach any regulations." The stewards clearly found it underwhelming. They said footage of Vettel's face camera was previously available, as were analysis of telemetry data, camera angles from the car, post-race video images and the German's witness statement. The right of review calls for a team to present significant and relevant new evidence that was not available at the time of the decision. The stewards, whose ruling is final, had sole discretion to determine whether such a new element exists.