66 El Camino Tailgate Bowtie Emblem on 2040-parts.com

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.

A Fine Time To Be A Motorist

ALREADY cash-strapped motorists are paying millions of pounds for minor infringements after a record number of fines were issued, according to claims made by a national newspaper. The Daily Mail said that drivers are paying out £135 million a year after being caught on camera blocking box junctions or straying into bus lanes. Some 1.32 million fines were issued for minor offences in 2011/12, the newspaper said, a record number and a rise of 16% on the previous year.

Lamborghini 350 GT, Jalpa featured at Techno Classica Essen

Techno Classica Essen is going on as we speak at Messe Essen in Germany. It offers a bit of everything -- a sort of car and motorcycle show mixed with a swap meet and a club meeting. And Lamborghini is there displaying its beautiful 1964 350 GT and a 1981 Jalpa.