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Bondholders snub GM, bankruptcy filing likely
Wed, 27 May 2009Nowhere 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.
Ford C-Max & Grand-C-Max (2011) – UK prices
Mon, 06 Sep 2010UK price and specs for the Ford C-Max & Grand C-Max Prices We never fail to be surprised by how long it can take from the reveal of a new car until that car starts to hit showrooms. In the case of the 2011 Ford C-Max and the 2011 Ford Grand C-Max it is almost exactly a year since Ford unwrapped what will be the first Ford to use the Global C-Segment platform – which will also underpin the 2011 Ford Focus and the next generation Ford Kuga – at the Frankfurt Motor Show. Having finally got the C-Max to the UK, we’re pleased to see that instead of foisting endless trim specifications levels on to buyers Ford has decied to keep it simple with just two options on the C-Max and the Grand C-Max – either Zetec or Titanium.
Mercedes-Benz to cut production time, halve number of vehicle architectures
Thu, 29 Mar 2012Mercedes-Benz is restructuring its global production network to cut the average production time for its models to 30 hours by 2015 from 43 in 2008. "We have increased productivity by 2 percent a year over the last few years. We will be accelerating our productivity efforts," Mercedes production boss Wolfgang Bernhard said during an investor conference that was part of the automaker's plant opening in Kecskemet, Hungary, on Thursday.