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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:

eBay Find of the Day: Your choice of new, unregistered mid-2000s supercars

If you didn't quite find what you were hoping to see under the tree this year, maybe it's about time you buy yourself something nice. Something like an unregistered 2005 Porsche Carrera GT. The car has never been titled and has just 83 miles on the odometer. With one owner since new, the Carrera GT is likely to be as nice an example as you're likely to find outside of a museum. Porsche only built 340 of these machines back in 2005, and with a 610 horsepower V10 kicking at your spine, you can lap Santa's sleigh next year. Currently, the Carrera GT has a buy it now price of $457,325 with around six days left on the auction.
Not flashy enough for your tastes? Stroll on down to West Hollywood and you'll find a similarly untitled 2004 Ferrari Enzo up for grabs with a sticker of $1.8 million. Technically a Euro-spec car, the Enzo isn't legal to operate on US roads, but could be modified to satisfy Uncle Sam with a little effort. The seller calls this car the "last brand-new Enzo in existence" and with 175 miles on the clock, that may be a true statement. You can head over to eBay Motors for a closer look if you're feeling spendy.

2016 British Grand Prix kept mostly calm and carried on

Three bursts of chaos decided the course of the British Grand Prix. The first was a literal cloudburst a dozen minutes before the race, which poured water on the Silverstone Circuit while drivers sat on the grid. Six minutes before the lights-out, the race director decided to start the race behind the Safety Car. The field loped around the wet track for five laps. When the Safety Car pulled off, the three leaders – Mercedes-AMG Petronas' Lewis Hamilton, followed by teammate Nico Rosberg and Red Bull's Max Verstappen – stayed out. Behind them, the second chaotic moment occurred: a big group of drivers made pit stops for intermediate tires. When Manor's Pascal Wehrlein spun at Turn 1 on Lap 7, officials issued a Virtual Safety Car. With the rest of the field slowed down, the three leaders ducked into the pits on Lap 8 for intermediates. The fortuitous timing meant all three drivers rejoined the track in their original positions. By Lap 9, with racing resumed, Hamilton had a 4.9-second lead on Rosberg. From that point, even as the track dried, no one bothered Hamilton during what one commentator called "a measured drive." The Brit won his home grand prix, taking the checkered flag seven seconds ahead of Rosberg. Rosberg had to earn second place on track. The German's car didn't respond well to the intermediate tires, so Verstappen excecuted an outstanding pass on Rosberg on the outside through Chapel on Lap 16. After everyone switched to slicks, Rosberg's Mercedes reclaimed its mojo and the German hunted Verstappen down, passing the Dutchman on Lap 38. The final touch of chaos happened when Rosberg's gearbox threw a tantrum on Lap 47 of the 52-lap race. Rosberg radioed his engineer, "Gearbox problem!" His engineer replied, "Affirm. Chassis default zero one. Avoid seventh gear, Nico." The race stewards allowed the engineer's first two statements, but stewards said the instruction about seventh gear contravened the rule that "the driver must drive the car alone and unaided." After the race, officials added ten seconds to Rosberg's time, demoting him to third behind Verstappen. Rosberg's is the first penalty arising from radio communication restrictions. Unsurprisingly, Mercedes will appeal. At this year's Baku race the radio controversy stemmed from engineers refusing to tell drivers what to do. Now we know what happens when the pit wall gets loose lips.