The juggernaut of the “Iron Man” continued pounding its competitors at the box office last weekend, literally crushing the hopes of its main contender, the race car adventure “Speed Racer”, internet sources reported today. “Iron Man” raked in an additional $50.5 million in its second weekend, bringing its total close to $150 million. “Iron Man” made film history last weekend when it became the ninth-highest debut of all time and second-largest for a movie that wasn’t a sequel.

“Speed Racer”, a film by Andy and Larry Wachowski, crashed with just $20.2 million over its debut weekend, falling $15 million below expectations. Warner Bros. had launched the largest movie-related toy release in Mattel’s history, with more than 1,500 cars, action figures and racetracks to promote the film.

“For all of the ads, promotions, and toys released to tout ‘Speed Racer’, nothing could stop the race car film from crashing and burning,” Scott Bowles of USA Today reported this morning.

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Warner Bros., which released the film, is reportedly hoping to recoup some of the losses in the big summer weeks ahead, but the studio will be competing against some mega-movies such as “Chronicles of Narnia: Prince Caspian” and “Indiana Jones and the Kingdom of the Crystal Skull”.

Based on the classic 1960s series created by anime pioneer Tatsuo Yoshida that later was retooled for North American audiences, “Speed Racer” follows the adventures of the young race car driver Speed in his quest for glory in his thundering gadget-laden vehicle, Mach 5. The movie features other characters from the show, including Speed’s family and his mysterious archrival, Racer X.

The romantic comedy “What Happens in Vegas” took in $20 million and third place. The film starring Cameron Diaz and Ashton Kutcher follows two strangers who awaken together to discover that they have gotten married following a night of debauchery in Vegas and that one of them has won a huge jackpot after playing the other’s quarter. The newlyweds devise ever-escalating schemes to undermine each other and get their hands on the money, only to find themselves falling in love amidst the mutual backstabbing.

The Patrick Dempsey comedy “Made of Honor” was fourth with $7.6 million. Tina Fey’s comedy “Baby Mama” was fifth with $5.8 million.

Ticket sales for the weekend were 23% ahead of the same weekend last year.

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Box Office Grosses
Week Ending May 11, 2008

Rank Title Weekend Total Gross
1 Iron Man (2008) $50.5 M $177 M
2 Speed Racer (2008) $20.2 M $20.2 M
3 What Happens in Vegas… (2008) $20 M $20 M
4 Made of Honor (2008) $7.6 M $26.3 M
5 Baby Mama (2008) $5.77 M $40.4 M
6 Forgetting Sarah Marshall (2008) $3.78 M $50.7 M
7 Harold & Kumar Escape from Guantanamo Bay (2008) $3.15 M $30.7 M
8 The Forbidden Kingdom (2008) $1.9 M $48.3 M
9 Nim’s Island (2008) $1.32 M $44.3 M
10 Redbelt (2008) $1.14 M $1.24 M