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Chrysler's main creditors reach deal with U.S.; others hold out

The U.S. Treasury Department has reached a tentative debt-reduction agreement with Chrysler's main creditors but still must get other lenders to sign on for the deal to take effect, three people with knowledge of the talks said today. The accord with JPMorgan Chase, Citigroup, Goldman Sachs and Morgan Stanley would reduce Chrysler's $6.9 billion debt to $2 billion, which would be repaid by Chrysler in cash, they said.

Volvo to give away S60 on Facebook

Win a Volvo S60 on Facebook It seems that Volvo UK are very keen to get their Social Web stuff buzzing. Last week we reported that Volvo were giving away tickets for the Goodwood Moving Motor Show, including the chance to drive a Volvo up the Goodwood hillclimb. The entry criteria were simple enough – follow Volvo on Twitter and Tweet back the answer to a daily Volvo trivia question including the relevant hashtag.

Ferrari Exhibit: Cavallino Rampante

On the weekend of October 11, the San Diego Automotive Museum celebrated its 20th Anniversary by hosting a ribbon-cutting ceremony for a special exhibit, Ferrari: Cavallino Rampante - Italy's Prancing Horse. The Saturday evening event was the grand opening reception for 15 rare Ferraris on exhibit, joined by designs created by retired automobile designers and local high school students.  The extravagant evening celebration also served as a finale of two-day Ferrari Road Rally event, inviting owners of Ferraris from various eras to show their cars - which ranged from a 1967 275 GTB and 1968 Dino to a 360 Challenge Stradale. Over a dozen Ferraris parked in front of the museum served as a pleasant prelude to some of marque's memorable examples displayed inside: a collection of rare Ferraris that includes a 1952 212 Europa, 1955 250 Boano Prototipo, 1956 250 GT Zagato, 1957 250 Testarossa, 1959 410 Super America and 1965 275 GTB/Competizione.