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Newlyweds crash rented Ferrari into a house

A newly married couple had a rough wedding day when they crashed their rented Ferrari into a house in Burnley, Lancashire. Lancashire Road Police tweeted a photo on April 17 of a white Ferrari 458 Spider that crashed into a row house. The crash folded the hood nearly in half and completely destroyed the car's front fascia but no one was injured, according to the Daily Mail. The car, worth a cool 240,000 pounds, or 342,500 dollars, is owned by a rental company called Platinum Executive Travel. The son of the company's owner, Aleem Iqbal, made a statement on Twitter after the crash, assuring his tens of thousands of followers that he was not at the wheel of the mangled Ferrari when it went into the wall. "Thanks for all the kind messages," Iqbal tweeted from his personal account. "I wasn't at the wheel and nobody was injured that's the main thing, have had a lot worse in business." In a follow up tweet he stated, "At least people in Burnley will have something to talk about for a few weeks." Iqbal's statement about worse things happening in his business is true, and this is not the first of PET's pricey supercars to be destroyed. Within a five-week period in 2014, arsonists destroyed four of PET's cars worth more than 500,000 pounds or 713,000 dollars. In one attack, a Lamborghini Aventador rented for a wedding was torched outside a house in Luton. Iqbal called that attack a "vile act of jealousy" targeting the family of the newlyweds. Weeks later, two Audi R8 Spyders and a Bentley Flying Spur were firebombed at the PET offices in Yardley. The Daily Mail has contacted Platinum Executive Travel for an official statement about the Ferrari crash, but has not received a response. The driver and passenger of the wrecked Ferrari were not identified. Related Video: News Source: The Daily Mail, The Mirror, TwitterImage Credit: Lancashire Road Police Weird Car News Ferrari Driving Performance Supercars rental car

Watch this Ferrari 288 GTO get a top-flight detailing job

Detailing was once the last thing we had any interest in doing, and if such a thing were possible we had even less interest in watching someone else detail some other car. We don't feel that way anymore, fascinated by the minutiae uncovered in while watching Todd Cooperider and Polished Bliss detail some examples of Prancing Horses.
Next up on the detailing honor roll is Larry Kosilla of Ammo NYC. Company founder Kosilla said he has wanted to be the best detailer on Earth ever since he was a kid, and his company makes products to serve detailers with that kind of passion. Now, we can watch him put his knowledge and elbow grease to work on a Ferrari 288 GTO.
The biggest issue with the eighties wondercoupe is that it is made of three different materials, each of which will cause the same coat of paint to react differently to the same products according to Kosilla. There's also the fact that he's working in what appears to be a rather poorly lit garage, but by the time he gets to the end of the two-day job it's clear he knows exactly what he's doing. Detailing school begins in the video just below.

Ferrari IPO worth $1 billion to launch imminently

Or maybe not. Back in July, we reported that Ferrari's initial public offering could come any day, based on what FCA honcho Sergio Marchionne told reporters at an international economic forum. Marchionne himself ensured investors that the Maranello automaker was "days away" from filing the paperwork. That didn't happen. Now it's October, and the rumormill is churning about all things Ferrari IPO on the news that the company has filed amended IPO documents with the SEC on September 22. Like last time, the launch is apparently imminent – as early as today, reports CNBC – and sources are hearing an offer of $1 billion in stock, or roughly 10 percent of what FCA believes Ferrari to be worth. Back in July, Marchionne insisted that Ferrari was worth as much as $11 billion, despite experts at the time pointing out that this was much higher than even the company's internal assessment of the brand's value. Bloomberg is also reporting that demand for Ferrari stock may exceed supply by as much as 10 times, even before the IPO. Much of this value (as much as half) is derived from the brand as intellectual property, as opposed to its assets or profitability. Part of the brand value equation is Marchionne's attempt to reposition Ferrari as a "luxury" brand, as Business Insider notes – the word "luxury" is mentioned 151 times in the document. The broad universe of branded Ferrari goods, like luxury clothing and toys, are a strong illustration of Ferrari's power as a brand. For traditionalists and Ferrari fans jittery at the thought of their beloved manufacturer subject to the whims of shareholders, a few calming notes. Tech Times reports that the documents confirm that Ferrari will remain incorporated as an Italian company. More importantly, there's no indication at present that Ferrari's new emphasis on "luxury" will change their product plans, meaning ever-faster exotic cars will continue to roll out of Maranello for now.Related Video: