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Bondholders snub GM, bankruptcy filing likely
Wed, 27 May 2009Nowhere 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.
Concept Car of the Week: Keio Advanced Zero (2001)
Fri, 18 Apr 2014‘Eight-wheeler electric limo-MPVs are the future!' said nobody. Ever. But professor Hiroshi Shimizu from Keio University in Japan believed such a machine could help him promote his innovative electric car concept.
Subaru BRZ tS is the ‘Sporty’ BRZ STI with no more go
Tue, 20 Aug 2013Subaru BRZ tS (pictured) more show – no more go When we ran the tease photo for what appeared to be the Subaru BRZ STI, we did hope this would be the BRZ with more power. After all, STI (Subaru Tecnica International) is the go faster bit of Subaru so it seemed to be pointing in the right direction, a direction lovers of the BRZ (and its sibling, the Toyota GT86) have been hoping for since it arrived – one with more power. But this isn’t the Subaru equivalent of a BMW M or a Mercedes AMG, its more the equivalent of BMW Performance Parts, where Subaru’s STI division have kitted out a standard car with bolt on modifications and called it the Subaru BRZ tS.