Exactly as mine when the engine has not ran since several days ! I've overhauled the trans some years ago and the problem went only after this !! I think i've found why: no hole in the gasket for the trans. breather (which is at rear of trans, see http://www.ifrance.com/c-i-f/images/tq5.jpg)... You have perhaps a clogged breather ? When the car sat from some time, ther's a converter drainback so the oil level in oil pan is higher than normal (take a look at your oil trans dipstick..). When you start the engine ther's some pressure built in the trans (because ther's too much oil) and if the breather is clogged the oil escapes from oil tube (and flows on exhaust !). To cut this hole in the gasket i have to remove the trans extension (+ misc parts like hand drum, propeller shaft, etc..) so i'll do later. At this time, i've removed the dipstick and slipped 3 ft of plastic garden hose on the dipstick tube. As this hose is clear i can see the oil goes into it, then returns immediatly in trans. And more the engine rev. high (hot iddle), more oil "climbs" in the hose ! -- Philippe COURANT (Pau, France) Imperial 57 Crown convertible Buick 58 Roadmaster sedan - American Car Club de France (ACCF) : http://www.accf.com - Chrysler Imperial France : http://www.ifrance.com/c-i-f - Cadillac " Standard of Excellence " : http://www.ifrance.com/accf-cad - SportsCars : http://www.ifrance.com/accf-sprtcar