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GM officially bankrupt

GM finally enters Chapter 11 Bankruptcy The US Government is to provide £30 billion to fund the transition, with GM being split in to ‘Old GM’ and ‘New GM’. In exchange for the money the US Government will take a 60% stake in ‘New GM’ with all the toxic assets and liabilities being disposed of through ‘Old GM’. The restructuring will allow GM to survive on a third less sales than before (10 million instead of 15 million).

Ferrari 612 Scaglietti 60th Anniversary (2007): first official pictures

By Jack Carfrae First Official Pictures 30 January 2007 11:35 Ferrari 612 Scaglietti 60th Anniversary: the lowdown This week marks the beginning of Ferrari’s extravagant 60th anniversary celebrations – and they’re led by that rarest of things: a Ferrari special edition. Between kicking off a cross-continental marathon and announcing a Ferrari theme park, Maranello has unveiled plans to produce a limited run of 60 unique versions of the 612 Scaglietti. Each car will commemorate the 60 most significant events in the history of the company, ranging from F1 World Championship wins to the launch of milestone models such as the F40 and Enzo.

LG seeks a ban on BMW & Audi imports to Korea

Audi's LEDs are said to infringe LG patents It seems there isn’t a day that passes without big companies playing out their patent disputes in courts round the world. We’ve seen ongoing spats between Google, Apple, Samsung and HTC, and now we hear that LG Electronics is seeking a ban on imports of Audi and BMW cars to Korea over an LED patent dispute with Siemans Osram. LG Electronics has already demanded a ban on imports of LED products from Siemans Osram, and is now stepping up the pressure by demanding that Audi and BMW cars featuring Osram LED lights be banned.