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Fiat gives outgoing Ferrari chairman $35M severance package

Luca di Montezemolo may not have wanted to leave Ferrari this way, but don't feel too bad for the departing chairman, because he'll be hitting the ground with a golden parachute so big that he'll never have to work again.
According to the latest reports, Fiat will pay Montezemolo 26.95 million euros (nearly $35 million) in severance pay. A little more than half of that will be paid in a lump sum of 13.71 million euros ($17.7M, equivalent to five times his annual salary) on January 31, 2015, with the rest to be paid within the next 20 years.
The payment is contingent on Montezemolo not going to work for a competitor, so don't expect to see him replacing Stephan Winkelmann at Lamborghini or Wolfgang Dürheimer at Bugatti any time soon. At least not until March 2017. Of course with that much cash on hand, the 67-year-old marquis need never work again, but considering how busy he's used to keeping himself, we'd be surprised if he didn't pop up again somewhere.

Ferrari to debut new twin-turbo California in the spring

Ferrari hadn't made a turbocharged engine since the F40 ended its production cycle in 1992. But that all changed when it helped Maserati develop its new 3.8-liter twin-turbo V8. That turbo engine has so far been shoehorned into the Quattroporte, along with its 3.0-liter V6 cousin that also powers the smaller Ghibli. But soon it'll wear the Prancing Horse badge as further details emerge on the next-generation California.
Set to arrive in time for the spring (likely to be unveiled at the Geneva Motor Show in March), the new California will reportedly ditch its naturally-aspirated V8 in favor of a reworked version of the Quattroporte's twin-turbo unit, which at 523 horsepower and 479 pound-feet of torque is already considerably more muscular than the current California's 483 hp and 372 lb-ft.
The new California will likely be closely based on the outgoing model, but benefit from revised aluminum sheetmetal and an updated cabin with a new infotainment system - two areas in which the current model has scored low marks.

Ferrari 458 Italia becomes most expensive prize ever on Price Is Right

In case you haven't been paying attention, it's "Big Money Week" on the long-running The Price Is Right televised game show. In a nutshell, it means that more than a million dollars in cash and prizes are up for grabs for those lucky enough to "come on down," play some games and correctly guess product retail prices.
Moments after opening the show Thursday, host Drew Carey broke the unexpected news. "Today you are going to see the single-most-expensive prize in the history of the daytime Price is Right," he boasted before the curtains were pulled back to review a brand-new Ferrari 458 Italia Spider.
To win the car, the contestant had to play "Three Strikes" - blindly pulling numbers out of a bag and putting them in the correct price sequence before grabbing three dreaded red strikes. As expected, your typical The Price Is Right contestant is about as familiar with today's retail Ferrari pricing as they are with fractional jet ownership. We won't spoil the fun of whether or not a lucky contestant gets to drive the $285,716 exotic home (and pay a midsize sedan's worth of taxes), but feel free to speed ahead to about the three-minute mark on the video below to watch the reveal.