News : Phil Hill's race-winning Jaguar C-Type on the block at Pebble Beach

The upcoming auctions at Pebble Beach are shaping up to be the stuff of legends. Which should come as no big surprise as legends are exactly what will be up for grabs. In addition to the highly anticipated launch of the new "Grand Bentley" amidst the field of lust-worthy machinery on display, auctioneers will be putting such notable classics on the block as Ettore Buggati's own Type 57C, the one-of-a-kind Miller V16 racing car, and this historic 1952 Jaguar C-Type.

The first C-Type Jaguar to be imported into the United States, model XKC-007 was sent straight to the race track where it was driven by no less a talent than the legendary Phil Hill. The World-Champion-to-be took this particular C-Type to three victories at Elkhart Lake, Torrey Pines and Watkins Glen, the former scoring as the first victory for the iconic C-Type in its storied history. After being retired from active duty, XKC-007 passed through several collections before undergoing a full restoration in 1986, after which it won numerous awards on the vintage concours circuit – including a reunion date with Phil Hill to commemorate Jaguar's 50th anniversary in 2002. XKC-007 will be up for auction at RM's three-day Sports & Classics of Monterey event from August 13-15. Details in the press release after the jump and images in the gallery below.
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Volvo racer Walter Cronkite dies at 92

Former CBS news anchor Walter Cronkite has passed away at 92. Although Cronkite was primarily known for his coverage of the JFK assassination, moon landing and the Vietnam war, he also enjoyed success in endurance racing with teammate and Volvo of Long Island dealer Art Riley.

When Riley died earlier this year at 93, his obit briefly mentions Cronkite's involvement with the team and its successes behind the wheel of a Volvo PV444. The team campaigned and won races at Lime Rock's "Little LeMans" in 1957, '58 and '61. Cronkite was the only finisher in a five-car team one year, taking a B-division win and placing third overall. The two also teamed up to compete in the Trans-Canada rally.

You can read Riley's full obit here, a look back on Cronkite's life here, and thanks to Mike Spinelli for bringing this little historical footnote to our attention.
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Chrysler Critics : President Obama takes on GM

With Chrysler and General Motors completing their bankruptcy proceedings and continuing on with their restructuring, it may seem ridiculous that President Barack Obama still finds the need to defend the government bailout of the two companies.

But that is exactly what he did during a speech at a Michigan community college recently. Obama said that if nothing was done, then the economy would have experienced a catastrophe due to the massive loss of jobs.

More details can be found here. What do you think? The bankruptcy's pretty much a done deal.
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