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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.
Mitsubishi Evo X: Not being killed off. Sort of
Thu, 17 Mar 2011Mitsubishi Evo X - the last ICE Evo? FaceSpace has been convinced that the Mitubishi Evo X is about to go to the great rally track in the sky, no longer to be the Playstation generation’s affordable supercar. Which would be a shame.
Pagani C9 – Horacio Pagani speaks
Sun, 17 Jan 2010The Pagani C9 Mule with the new 6.0 litre AMG bi-turbo The Pagani Zonda is a very impressive car. It stands shoulder to shoulder with some of the finest Supercars in creation built by some of the most iconic Supercar makers in the world. Which considering Pagani is all of a decade old as a Supercar maker is a quite astonishing achievement.