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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.

Holden to stop making cars in Australia

Fresh from the news that General Motors (GM) will be pulling its Chevrolet brand out of mainstream markets in Europe, the automotive giant has now confirmed that its Australian subsidiary, Holden, will stop making cars Down Under by the end of 2017. It’s further bad news for GM, but even more so for the 2,900 Australian people who are set to lose their jobs as a result of the closure. And it’s a sad and disappointing end for the famous Holden marque, which can trace its history back as far as 1856.

Ralph Lauren's car collection does Paris

Spring has sprung across much of the country, meaning heavy flannels now give way to white polo shirts--many of which will be crested with the familiar emblem of Ralph Lauren on the front. While we at One AutoWeek Tower prefer greasy T-shirts and ripped jeans, collared apparel does have its place. In that vein, Lauren's fabled car collection is taking center stage at a Paris art museum, and the exhibit will run through Aug.