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Porsche CEO likely to bow to pressure to leave, report says

Porsche CEO Wendelin Wiedeking is likely to bow to pressure from the Porsche family to step down, a German newspaper report said on Wednesday. Business daily Handelsblatt said that the two parties had already reached agreement that the chief executive should go and that a formal decision could come by Thursday, when the company's supervisory board meets. The newspaper also said, however, that Wiedeking would fight to keep his job.

'Stay Hungry, Stay Foolish': A tribute to Steve Jobs (1955-2011)

The recent passing of Steve Jobs, co-founder and CEO of Apple, has found us mourning the loss of a visionary who brought not only technology and functionality to the product design industry, but also transcended the boundary into automotive design. Jobs succeeded in making what was at the time a foreign invention – the personal computer, a device impeded by its lack of usability – attractive to the masses by making it simpler, intuitive and essentially more functional for those who didn't hold a PhD in physics. From his previous experience with the artistic qualities of calligraphy, Jobs took a sector that was so inward looking that it risked alienating the consumer – regardless of its capability – and wrapped it up in a warm, aesthetically appealing package that could be more easily understood.

Underground Racing Lamborghini cracks 250 mph--watch the video here

Earlier this year, we told you about Underground Racing, a shop in Charlotte, N.C., that makes a business out of upgrading Lamborghinis with twin turbochargers to boost engine output to more than 1,000 hp. Now, a Lamborghini Gallardo Superleggera upfitted by Underground Racing cracked the 250-mph mark at the Texas Mile event. Car owner Richard Holt made the 250.1-mph run in late March, but video was posted just this week.