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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

Ford Focus Electric and ST recalled over lighting issue

Ford is recalling 6,308 units of the 2012 and 2013 Focus Electric and 2013 Focus ST that were fitted with HID headlights because a "wiring incompatibility" could keep the front side marker lights from working. A bulletin from the National Highway Traffic Safety Administration says the recall should begin in the middle of this month, after which owners can take their cars to dealers to have the wiring assembly repaired free of charge.
You can find more information in the NHTSA bulletin posted below.

Will the Ford GT make 630 hp?

Ford intends to build just 250 examples of the next-generation GT annually when production begins next year. That's low even by supercar standards, but anyone with an Xbox One can drive the highly anticipated model right now in the demo for Forza Motorsport 6. The car is even on the cover of the retail version, but the game might be giving a glimpse at one of the upcoming vehicle's biggest secrets. According to the specs page, the GT makes 630 horsepower and 539 pound-feet of torque, according to Motor Authority. Weight is shown at 2,890 pounds with a front/rear distribution of 43/57. Until now, Ford's only comment on the GT's output from its 3.5-liter twin-turbo V6 is "more than 600 horsepower," and that's certainly the case here. If accurate, the figures make the new model 130-hp more powerful than than the last GT, while also being hundreds of pounds lighter. Compared to modern competitors, the GT would be less powerful than a Ferrari 488 GTB and heavier than a McLaren 675LT. Unfortunately, Ford isn't commenting on the numbers in the game. "As we stated back at NAIAS, the Ford GT will produce more than 600 horsepower, and we can't speak to what Forza includes as specifications in their video game," company spokesperson Matt Leaver said to Autoblog via email. Don't think this is all doom and gloom, just yet. For one thing, more than numbers make a great car. Plus, the GT is still quite some way out from production, and spy shots still show it under development. Even if these figures are accurate at the time of Forza's development, that doesn't mean that they can't change in the meantime. Related Video: