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Some secured lenders object to quick sale of Chrysler

A minority group of Chrysler LLC secured lenders has objected in bankruptcy court to the quick sale of Chrysler to a new corporate entity led by Fiat S.p.A. The group of about 40 banks and hedge funds holds about $3 billion of the $6.9 billion in secured loans that Chrysler has with the banks. Four major New York banks holding $4 billion of that debt agreed last week to settle for $2 billion in payment for the $6.9 billion owed.

Toyota Auris Hybrid Review and Road Test (2011) Part 2

Toyota Auris Hybrid Review & Road test Part 2 No one buys a Toyota Auris and expects to go blatting round the back roads, eking every last drop of grip and handling out of the chassis. They buy it because it does everything without fuss, competently, quietly – and forever. And if – as many believe – CO2 is the enemy of the planet, then all that sensibleness oozing from every pore of the Auris Hybrid will be wonderfully appealing, especially as there is very little compromise needed to accommodate all that Hybrid Green-ness.

Mitsubishi closes California design studio

Mitsubishi Motors Corp. closed its design studio in Cypress, CA last Thursday – just one month shy of its 25th anniversary. A result of the recent downturn in the global economy, the closure of the facility will eliminate 33 design positions as part of a personnel cull that has seen 60 people within the automaker's US operations lose their jobs.