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Auto investor Kirk Kerkorian dead at 98

Kirk Kerkorian, among the most talked-about investors in the American auto industry in recent memory, died at the age of 98 in Los Angeles on Monday, June 15. The billionaire ran the investment company Tracinda Corp. and was the largest shareholder in MGM Resorts International. Kerkorian attempted to use his power as a well-financed investor to push the auto industry in some fascinating ways. In 2006, he used his nearly 10-percent stake in General Motors to push a merger with the Renault-Nissan Alliance. The deal made it as far as discussions, but eventually fell through. Kerkorian also attempted to purchase Chrysler - twice. According to Automotive News, the first effort came in 1995 with a $22.8-billion offer for the automaker, and soon after it failed the company merged with Daimler. Then in 2007, Kerkorian was back with a bid for $4.5 billion, but things eventually fell to Cerberus. The billionaire finished the trifecta by buying up $1 billion in Ford stock in 2008 to make Kerkorian the single largest investor in the company. However, the situation didn't last long, and by the end of that year, he had unloaded the shares. According to Automotive News, Kerkorian was ranked by Forbes as the world's 41st richest man in 2008 with a net worth of $16 billion. News Source: Automotive News - sub. req.Image Credit: Joe Cavaretta / AP Photo Celebrities Earnings/Financials Chrysler Ford GM obituary

Germany threatens to ban FCA vehicles over diesel emissions dispute

Germany is threatening to ban sales of FCA products over diesel emissions. According to the newspaper Bild Am Sonntag, Germany's Federal Motor Transport Authority found evidence of a so-called defeat device that shuts down certain emissions controls after running for 22 minutes. A standard diesel emissions test in the European Union reportedly takes 20 minutes to complete. FCA denies the allegations. "We believe all our vehicles respect EU emissions standards and we believe Italian regulators are the competent authority to evaluate this," the company said in a statement. The latter part of that statement drew ire from German authorities, especially after FCA declined to meet with German transport minister Alexander Dobrindt to discuss the issue. Graziano Delrio, the Italian Minister of Infrastructure and Transport, vowed to work with German authorities on behalf of FCA. According to EU law, FCA is required to homologate its vehicles in Italy because that's where its regional operations are based. When will the diesel-scented soap opera end? We wish we knew, but our Magic 8 Ball is covered in soot. Related Video: News Source: Financial TimesImage Credit: Giuseppe Aresu/Bloomberg via Getty Government/Legal Green Chrysler Dodge Fiat Jeep RAM Emissions Diesel Vehicles FCA

Junkyard Gem: 1954 Plymouth Savoy Sedan

American car shoppers bought many millions of the four-door sedans that flew off Detroit's assembly lines in the decade after World War II, and so plenty of them still remain in barns, garages, driveways and yards today, awaiting loving owners who will put them back on the road. Unfortunately, those with the time and money to take on challenging vintage automotive projects tend to prefer coupes and convertibles, especially those made by the higher-prestige marques. That means that many of these cars continue to run out of time with each passing day, taking that final tow-truck ride to their very last parking spaces. Today's Junkyard Gem is one of those cars: a 1954 Plymouth Savoy four-door painted in Piedmont Maroon, found in a Denver self-service yard recently. As an example of how many of these cars still get crushed each year, here's a partial list of some of the 1946-1956 American four-door sedans I've personally documented in car graveyards over the last decade or so: 1947 Dodge Custom, 1947 Frazer Manhattan, 1948 Plymouth Special Deluxe, 1949 Dodge Coronet, 1949 Kaiser Special, 1949 Oldsmobile 88, 1949 Plymouth Special Deluxe, 1950 Cadillac Sixty-One, 1950 Chrysler Royal, 1950 Studebaker Commander, 1951 Chevrolet Styleline, 1951 Frazer, 1951 Lincoln Cosmopolitan, 1951 Plymouth Cranbrook, another 1951 Plymouth Cranbrook, 1952 Kaiser, 1952 Buick Special, 1952 Mercury Custom, 1953 Packard Clipper, 1953 Plymouth Special, 1953 Pontiac Chieftain, 1955 Studebaker Commander, 1956 DeSoto Fireflite and a 1956 Mercury Montclair. It's especially tough for the 1946-1954 Plymouths, because those cars were seen as stodgy transportation appliances for cheapskates when they were new. As the 1940s became the 1950s, most American cars became longer, sleeker and flashier-looking, but Plymouths seemed to stay the same. For the 1955 model year, Plymouths got a clean-sheet redesign and caught up with current styling trends well enough (probably not coincidentally, Plymouths finally got their own dealerships in late 1954, rather than just being sold out of Chrysler, DeSoto and Dodge showrooms). But for 1954, the best Chrysler could do with the looks of the increasingly aged-looking Plymouth was give it a new grille and some body chrome. Bumpers were made to stick out a few extra inches to cheat on the overall length a bit.