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Former GM president James McDonald dies at 87

James McDonald, who served as president of General Motors Corp. under CEO Roger Smith in the 1980s, died on Sunday at the age of 87. McDonald became president and COO on Feb.

Cadillac CTS Coupe, CTS-V (2008): first official pictures

By Ben Oliver First Official Pictures 16 January 2008 04:07 Cadillac showed three major new models at Detroit, and pulled off one of the show’s few surprises by keeping its new CTS Coupe completely secret until it was officially unveiled. It also revealed the 550bhp CTS-V and the Provoq small SUV concept (see separate story). Although branded as a concept, the striking, angular two-door four-seat CTS Coupe will come to Europe in 2010 and will come here because it is based on the CTS saloon platform which will be offered in right-hand drive in the UK and other overseas markets.

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.