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GM posts wider loss, burns through $5.2 billion in cash

General Motors, battered by a global economic collapse and buoyed by U.S. rescue loans, posted its sixth straight quarterly loss and burned through $5.2 billion in cash as revenue shrank by more than a third. The net loss of $9.6 billion in the fourth quarter compares with a loss of $1.5 billion a year earlier.

Saab plea for Court Protection dismissed – owes €150 million to creditors

Saab denied Court Protection - there seems no way out We hoped Victor Muller had found a way out of Saab’s financial woes by applying to the Swedish Courts for protection from its creditors while it waited for funds from China to arrive. But the application has hit a brick wall. The district court in Vanersborg said in a statement that there was no reason to believe protection and reorganisation would work for Saab.

2011 Porsche 911 GT2 RS: Sold out

2011 Porsche 911 GT2 RS - all 500 now sold Yes, the world is in recession. But things aren’t so bad that a £164k, 2011 Porsche 911 GT2 RS becomes hard to sell. In fact, so easy has it been to shift the 2011 GT2 RS that Porsche are probably kicking themselves for not making it a 1,000 run of cars instead of 500.