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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.

New Mercedes SLK caught testing

The next generation (2012) Mercedes SLK caught testing at the Nurburgring The next generation SLK looks to be more aggressive in stance, with a nose that takes on the family theme from the new Mercedes E-Class. It seems likely that the new SLK will come with a new set of engines, with more than a passing nod to eco-concerns. In will come a 1.6 litre, four-pot supercharged engine that will pick up the mantle from the old 1.8 litre Kompressor engine – same power – or more – with lower emissions and better economy.

Jaguar Heritage Museum to close.

Jaguar Heritage Museum to close Jaguar has decided to close the Jaguar Heritage Museum at Browns Lane as they wind down operations at the historic site. It’s less than three years since the Jaguar Heritage Museum was relaunched as a show case for the history of Jaguar cars. With 150 cars in its collection – from the first Jaguar badged car, the 1937 SS, to C-Type, D-Type and the last convertible V12 E-Type – the Jaguar Heritage Museum is a magnet for Jaguar nuts from around the world.