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Bondholders snub GM, bankruptcy filing likely

Nowhere near enough General Motors bondholders agreed to exchange their debt for stock before a midnight Tuesday deadline, making a bankruptcy filing by the automaker highly likely. GM had set a threshold of 90 percent of the $27 billion in bond debt it wanted to exchange for 10 percent of the stock in a reorganized company for the deal to take place. In a statement Wednesday, GM said the amount of notes tendered was substantially less than the 90 percent target.

Cars for College: AutoWeek's list of the best rides for campus cruising

High school seniors across the country have long since moved their graduation tassels from right to left. And before they start buying mini-fridges and extra-long bedsheets for their dorm rooms, prospective undergraduates need an affordable, safe and mpg-friendly ride that will leave Mom and Dad stress-free during trips to and from school. Here is a look at AutoWeek's top cars in which to send a kid off to college.

Chevrolet Corvette ZR1 will be Indy 500 pace car

The 2013 Chevrolet Corvette ZR1 will be the pace car for this year's Indianapolis 500--a fitting victory lap as the current sixth-generation Corvette heads for the end of its production run and the end of this version of the ZR1. The Indy pace-car Corvette will wear the 60th-anniversary trim package--an arctic white exterior with silver stripes down the center of the car and a blue interior with suede leather coverings on the steering wheel, center console and in the seats. Changes for the pace car include only the addition of a light bar on the roof, some racing-safety equipment and race logos.