Exotic car rental company owner uses GPS to thwart international auto theft ring

Watching television news can be depressing. Between the political rancor of election season and the "if it bleeds, it leads" mentality of most news directors, positive stories are scarce. But here's one that should make any lover of fine automobiles pleased.

The story, as reported by CBS This Morning, starts when the owner of a Los Angeles-based rental car company that specializes in exotics and luxury cars noticed that one of his vehicles was uncharacteristically sitting still for a few days after being rented. The $2,000-per-day 2010 Ferrari 458 Italia was equipped with a GPS tracking system, and the Italian Stallion's lack of use made Eric Blumberg suspicious. So he notified the police, who eventually found the car – in Hong Kong. It had been shipped through the Port of Los Angeles, labeled as "used fitness equipment," according to the Los Angeles Times.

It seems that the would-be joyrider who had "rented" the Ferrari was part of an international crime syndicate worthy of a screenplay, according to the CBS report. When the police investigated further, they found between 15 and 20 other vehicles that were being loaded into shipping containers and exported to Asia, a total of $1.5 million worth of four-wheeled loot.

The investigators told CBS that the vehicles can command up to twice their value overseas. While no arrests have yet been made in the case, at least these cars now have a chance of being returned to their rightful owners.

Scroll down to watch the full report.