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British driver breaks speed record for steam-powered car

One of the world's oldest speed records has gone up in smoke--or rather, steam. Charles Burnett III drove a steam car to an average speed of 139.843 mph over two runs in California to beat the 103-year-old record of Fred Marriott. Burnett peaked at 136.103 mph on the first run, then he accelerated to 151.085 mph on the second run less than an hour later.

Four CCS students win awards in 22nd annual Michelin/CCS competition

Michelin and the College for Creative Studies (CCS) in Detroit, Michigan recently held their 22nd Annual College for Creative Studies Design Competition at the A. Alfred Taubman Center for Design Education. Four CCS transportation students are receiving the exhibition opportunity of a lifetime when their winning designs are displayed in a special Michelin exhibit at the 2011 North American International Auto Show (NAIAS) January 10-23, 2011.

Smart's $99 loan deal has big balloon payment at end

Hoping to benefit from the federal cash-for-guzzlers program, Smart USA has set up a $99 monthly payment for buyers who use their $4,500 rebate. But there's a catch--and a hefty balloon payment disclosed only as a note to an asterisk in Smart's press information announcing the offer. The Smart financing is for $99 a month for 36 months, with a balloon payment of $6,667 due at the end.