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Macron and Le Pen decry 'shocking' Stellantis CEO pay

PARIS — French President Emmanuel Macron and his far-right challenger in the French presidential vote, Marine Le Pen, on Friday both decried as “shocking” the multimillion euro payout to the CEO of carmaker Stellantis. Stellantis CEO Carlos TavaresÂ’ remuneration package of 19.15 million euros just a year after the company was formed became an issue as Macron and Le Pen campaigned ahead of the April 24 runoff vote. Polls show purchasing power and inflation are a top voter concern. Stellantis was formed last year through the merger of PSA Peugeot and Fiat Chrysler Automobiles. Centrist President Emmanuel Macron, perceived by many voters as being too pro-business, called the pay package “astronomical” and pushed for a Europe-wide effort to set ceilings on “abusive” executive pay. “ItÂ’s shocking, itÂ’s excessive,” he said Friday on broadcaster France-Info. “People canÂ’t have problems with purchasing power, difficulties, the anguish theyÂ’re living with, and see these sums. Otherwise, society will explode.” Far-right leader Marine Le Pen, who enjoys support from many working-class voters, called for bringing in more workers as shareholders. “Of course itÂ’s shocking, and itÂ’s even more shocking when it is the CEOs who have pushed their society into difficulty,” she said Friday on BFM television. “One of the ways to diminish this pay, which is often out of proportion with economic life, is perhaps to allow workers in as shareholders.” Stellantis continued to back the package despite a 52.1% to 47.9% vote rejecting it at an annual shareholders' meeting chaired from the Netherlands, where the company is legally based, on Wednesday. The company, citing Dutch civil code, noted that the vote is advisory and not binding. The company later said in a statement that it took note of the vote, and will explain in an upcoming 2022 remuneration report “how this vote has been taken into account.” In the 2021 report, the company identified peer group companies that it used as a salary benchmark, including U.S. companies like Boeing, Exxon Mobile, General Electric as well as carmakers Ford and General Motors. Stellantis, whose brands include Peugeot, Fiat, Jeep, Opel and Maserati, reported net profits last year had tripled to 13.4 billion euros ($15.2 billion). The French government is the third-largest shareholder in Stellantis, with a 6.15% stake through the Bpifrance Participations S.A. French public investment bank.

LaFerrari XX coming early next year with F1 engine

With the embargo up on early reviews, the repetitively named Ferrari LaFerrari has become the supercar du jour. It has already been put through its paces by Top Gear and Evo. However, we know that Ferrari isn't done with development of its current halo model just yet. News continues to leak out about the even more hardcore LaFerrari XX track car.
Ferrari already confirmed directly to Autoblog that the XX is under development. There are even spy photos of it testing at the Nürburgring (pictured above). It reportedly clocked an astonishingly fast six-minute, 35-second lap at the historic track. The latest scuttlebutt about the track-focused supercar, according to Top Gear, is that it ditches standard car's hybrid 6.3-liter V12 engine with a combined output of 949 horsepower and 663 pound-feet of torque in favor of a Formula One-derived V6 turbo hybrid. That would be a huge change but would likely cut weight. The more insane LaFerrari could debut as soon as January or February of next year.
Ferrari says it's difficult to make the XX accelerate much quicker than a standard LaFerrari, but slick tires, revised suspension and aero changes should cut lap times. A version that doesn't have to worry about road car laws and just focuses on being fast could be truly mental.

Race Recap: 2014 Malaysian F1 Grand Prix [spoilers]

The Malaysian Grand Prix is always one of the jokers on the Formula One calendar: you know it's going to rain during the weekend, but you don't know when. This year it began during qualifying, the dammed up clouds over the Sepang track dumping their reservoirs just before Q1 and causing a 50-minute delay.
The conditions helped Infiniti Red Bull Racing close the gap on Mercedes AMG Petronas and split the Silver Arrows cars, Sebastian Vettel lining up in second on the grid behind pole-sitter Lewis Hamilton, ahead of Nico Rosberg. Fernando Alonso recovered from a suspension-damaging incident with Toro Rosso driver Daniil Kyvat to take fourth, followed by the second Red Bull of Daniel Ricciardo in fifth, then the off-form Kimi Räikkönen in sixth in the second Ferrari, Nico Hülkenberg in the Force India, star rookie Kevin Magnussen in the first McLaren ahead of Jean-Eric Vergne in the Toro Rosso, and Jenson Button in the second McLaren finishing up the top ten.
After that, though, the clouds decided they were done with F1. Save a few drop at the final corners during the race, the track stayed completely dry. And except for the beginning and the end, for the most part, so was the race.