The Petersen Automotive Museum and Hotrod & Restoration Magazine have announced that "Speedy" Bill Smith, Founder and Owner of Speedway Motors, will be the eighth recipient of the prestigious Robert E. Petersen Lifetime Achievement Award.

This annual award recognizes significant contributions to the business and hobby of hot rodding and restoration. It will be presented at the 11th Annual Hotrod & Restoration Trade Show, which takes place March 12-14, 2009 at the Indiana Convention Center in Indianapolis. The award presentation is part of the Grand Opening Breakfast, scheduled for 8:30 a.m. on Friday, March 13.