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.

Nissan to open new studio in Beijing

After last week's announcement of leadership changes at Nissan's North American and European design centers, Nissan Investment Co., Ltd (NCIC), a Nissan subsidiary in China, today revealed plans to expand its global design resources with the establishment of a new design studio in Beijing. "With the addition of 20 designers, Nissan's new studio will enhance our design capabilities, as well as our product competitiveness in China and Asia where the automotive industry continues to see robust growth," said Shiro Nakamura, chief creative officer and senior vice president of design and brand. "Locating the studio where our customers live and work allows us to best respond to their needs and design vehicles that exceed their expectations." Scheduled to open early in 2011, the studio in the Chao Yang district of Beijing will be the first design facility in China established by a Japanese automaker.

2013 Acura RDX to start at $35,205

Acura announced on Thursday that the 2013 RDX crossover will start at $35,205 including an $885 destination fee. That's a significant jump over the current Acura RDX, which starts at $33,780 including destination. Granted, the extra money buys you two more cylinders: The 2013 RDX features a new 3.5-liter V6 engine producing 33 more horses than the outgoing model, for a total of 273 hp.