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Former General Motors CEO nets multimillion-dollar retirement package

Former General Motors CEO Rick Wagoner will officially punch out on Aug. 1 with a compensation package worth almost $8.6 million over the first five years. The deal is significantly lower than what he could have received; it would have been $23 million at the end of last year, Reuters reports.

CAR Magazine's Fantasy League Formula 1

Ever cursed Ferrari or McLaren's tactics, felt sure some of F1's minnows could do better with their multi-million dollar budgets, or accurately predicted the F1 champs over the past ten seasons? Well now it's your chance to prove just how good your knowledge of F1 is, by joining CAR Online's new Fantasy League Formula 1 team. As a Fantasy League F1 manager your job is to select six real-life drivers and one constructor - from your $100m budget you can put all your money behind a big name, share the risk or use the lucky dip selector. Entry costs just £10 and there are plenty of prizes on offer after each GP race:   £5000 in cash and a luxury trip for two to the 201  Monaco Grand Prix for CAR's overall Fantasy League Formula 1 champion  £100 and a copy of the official F1 video game for every race winner  A racing experience at Brands Hatch for you and a friend  Cash prizes for managers finishing in 2nd to 10th place  And consolation entries into the 2011 game for managers finishing in 11th to 20th placePoints will be awarded after each race weekend, and prizes announced.

Bentley future design competition held at Hongik University, South Korea

Bentley has held its first design competition in collaboration with a university outside the UK. Director of design, Luc Donckerwolke, and head of exterior and advanced design, Sangyup Lee, tasked students at Hongik University in Seoul with designing a Bentley that would be released in 2040. In addition to looking to the future, students were asked to take the Bentley 'Blue Train' as inspiration: the car driven by three-time Le Mans-winner, Woolf Barnato, who, in March 1930, bet £100 that he could drive his Bentley from Cannes in the south of France to The Conservative Club in London in the time it took the luxurious Blue Train to travel from Cannes to Calais on the English Channel.