LG loves to collaborate with other brands. Looks like the newest brand will be that of Formula motorsports. They want some of that racing action so they can get back into that whole “Life Is Good” thing they killed. It’s as if the company is having a mid-life crisis and just wants to go really fast, like vroom.

It looks like they will be rolling out a Formula One handset sometime next year. The news comes on the heels of a new sponsorship deal with F1 earlier this morning, where LG’s Chief Marketing Officer, Dermot Boden, said that the Korean consumer electronics company is “looking to develop products in the future with Formula One.”

You can be pretty certain we haven’t heard the last from Microsoft regarding their offer to buy Yahoo!, but for now Yahoo! is saying a “no thanks” to the $44.6 billion buyout offer. Jerry Yang and other directors say Yahoo! are seeking at least $40 a share, or nearly $60 billion. Microsoft may not be willing to pay.

The bean counters of Yahoo! feel the number is on the low end. Others would like to get cozy with Google in order to improve search revenues, despite the fact that there may be some antitrust implications with that. Stayed tuned on this one. Things are getting very interesting.