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Ferrari SP Arya – a one-off Ferrari 599 GTO for Cheerag Arya

Indian-born and Dubai-based Cheerag Arya has commissioned a special one-off Ferrari 599 GTO – the Ferrari SP Arya. When your pockets are very deep and your love of all things Maranello runs in your blood, Ferrari Special Projects will bend over backwards to give you what you want. Just as they did with Eric Clapton and the  Ferrari SP12 EC Indian born businessman Cheerag Arya (know as CA), still only 32, spent many years working in the US but now lives in Dubai where he runs his family’s petrochemical business and indulges in his passion for Ferrari, particularly Ferrari’s big GT cars.

Bugatti takes a pair of Veyrons to Shanghai show

The growth of manufacturing in Asia has minted more than a few wealthy people--the target audience for Bugatti. The French-based boutique carmaker took two examples of the Veyron to this week's Shanghai motor show--the Asian debut for the Veyron 16.4 Super Sport and an individually customized 16.4 Grand Sport. The Veyron 16.4 Super Sport in Shanghai wears black-colored carbon-fiber bodywork, accented with polished and anodized aluminum trim such as the badges and wheels.

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.