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USF1 has officially shuttered operations in Charlotte, NC. That's according to the Charlotte Business Journal, which notes that Ken Anderson, president of the team, sent employees an email yesterday pointing to financial woes as the straw that broke the doomed camel's back. Anderson's pet racing project was supposed to jump into the Formula One fray at the Bahain Grand Prix on March 14, but couldn't quite get its act together in time. Rumors of a shut down have been dogging the USF1 team nearly

The two-year-old Stepneygate saga – long and complex enough to rival any of the Icelandic sagas – is finally over. A court in Modena, Italy has smacked four McLaren employees with six-figure fines: senior engineers Rod Taylor, Jonathan Neale, and Paddy Lowe are on the hook for €150,000 each (around $190,000 USD); chief designer Mike Coughlan got hit with a €180,000 fine (nearly $230,000).

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