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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.

Hyundai at CES 2011

Hyundai proved to be one of the biggest automotive surprises here at CES. While Audi and Ford have grabbed the headlines, it's clear that Hyundai isn't far behind, and on this evidence, may even be ahead in some areas of in-car electronics, before too long. The company unveiled its new ‘Bluelink' infotainment and telematics system as part of Tuesday's Consumer Telematics Show and this was being demonstrated on the company's show stand at CES too.

UPDATED: 2014 Chevrolet Corvette LT1 V8 to make 460 hp, 465 lb-ft

UPDATED 5/28/2013: Chevrolet has officially rated the 2014 Corvette Stingray LT1 V8 at 460 hp at 6,000 rpm and 465 lb-ft of torque at 4,000 rpm. Chevy claims up to 316 lb-ft of torque is available starting at 1,000 rpm. Check out complete LT1 details below, and look for an upcoming breakdown of the latest LT1.