2008 Ferrari 599 Gtb Fiorano Coupe 2-door 6.0l on 2040-cars

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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:

Faraday Future to hire former Ferrari exec Marco Mattiacci

Electric car manufacturer Faraday Future has lured a very big fish to its executive pond, hiring former Ferrari executive Marco Mattiacci, a source told Autoblog. Business Insider also reported the move. It's unclear what role Mattiacci will have at Faraday, but he served with distinction at Ferrari. Between 2006 and 2014, he was the head of Ferrari North America and Ferrari Asia Pacific, though that success didn't translate to motorsports. Mattiacci succeeded Stefano Domenicali as team principal of Scuderia Ferrari in April 2014 and led the team to a fourth-place finish, behind Mercedes, Red Bull, and Williams. The Scuderia were not pleased and Mattiacci resigned. Faraday is no stranger to snagging talent from other automakers. It hired employees from Ford, GM, and BMW and has done an especially good job of poaching talent from Elon Musk. It lured Tesla's vice president of regulatory affairs and deputy general counsel, James Chen, last month. Faraday hired the head of Model S production, Dag Reckhorn, to serve as its global VP of manufacturing, and in April it brought in Tesla's director of global supplier industrialization, Andrew De Haan, to run the Faraday's Nevada factory. Business Insider reports Faraday has even poached SpaceX employees. We expect more hiring from Faraday in the future, too. The company's website is packed with California-based positions for everything from vehicle safety to autonomous driving to product planning. Related Video: News Source: Business InsiderImage Credit: Dom Romney / Getty Images Green Hirings/Firings/Layoffs Ferrari Autonomous Vehicles Electric faraday future faraday marco mattiacci

Race Recap: 2014 US Grand Prix goes the English way yet again

Thankfully, the weekend's Formula One dramas all concerned events that happened off the track, with both Caterham and Marussia going into administration, after which a rumored boycott by the small teams was avoided. That gave the 18 drivers left on the grid freedom to focus on making the most of the Texas sunshine for Sunday's US Grand Prix.
Having finished two Free Practices behind teammate Mercedes AMG Petronas teammate Lewis Hamilton, the second one just .003 behind, Nico Rosberg said he had speed in hand and proved it during qualifying, beating Hamilton to the top spot by four-tenths of a second. Williams drivers Valtteri Bottas and Felipe Massa came behind, followed by Daniel Ricciardo in the Infiniti Red Bull Racing, Fernando Alonso in the Ferrari, the McLaren duo of Jenson Button and Kevin Magnussen, Kimi Räikkönen in the second Ferrari, and little-team Sauber bursting out of the storm clouds into tenth, Adrian Sutil making the team's first-time Q3 appearance all year.
When it came time to race, the carbon-fiber fisticuffs began on the first lap.