Some secured lenders object to quick sale of Chrysler

A minority group of Chrysler LLC secured lenders has objected in bankruptcy court to the quick sale of Chrysler to a new corporate entity led by Fiat S.p.A. The group of about 40 banks and hedge funds holds about $3 billion of the $6.9 billion in secured loans that Chrysler has with the banks. Four major New York banks holding $4 billion of that debt agreed last week to settle for $2 billion in payment for the $6.9 billion owed.

IED reveals updated Cisitalia 202 E concept

IED will reveal the Cisitalia 202 E Concept – a modern version of the Pininfarina-designed 1947 Cisitalia 202 – at next month's Geneva motor show. Design students of the Master of Arts in Transportation Design developed the Cisitalia 202 E (Evolution) Concept at the IED in Turin as part of their work experience program during the 2010-2011 academic year. IED has announced that, "the concept faithfully reflects the design of the historic vehicle, with dimensions and power aligned with modern times." Technical partners of the project include CECOMP (prototype construction), Pirelli, OZ Racing and ABET Laminati.

Famous drivers complete amazing driving stunt

A QUARTET of the world's most skilful drivers has stunned the car world with an incredible stunt on a pitch black racetrack edged by lights. Internet driving sensation Ken Block joined racing drivers Mike Rockenfeller, Augusto Farfus and Adrian Zaugg to lay on a sensational four-car stunt relay called Blackout. Within the four-stage indoor course, the drivers had to face a major obstacle in each: the Laser Tunnel, Laser Drift, Slalom and Laser Box.