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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.

Alfa Romeo’s future master plan

Alfa Romeo Alfa Romeo’s thrilling new 4C sports car "marks a line in the sand" for the Italian firm, according to head of Alfa Romeo Europe, Louis-Carl Vignon. Speaking to MSN Cars at the launch of the 4C, the Alfa exec confirmed the marque’s future products will be inspired by its new halo model, meaning we’ll see more high-tech, efficient and performance-focused Alfa Romeo’s in the near future. On Bing: see pictures of the Alfa Romeo 4C Alfa Romeo 4C review A new off-roader will make up the heart of the Alfa Romeo range Vignon also outlined that further variants of the 4C are possible, potentially including an open-top spider version, as well as a higher-powered, more hardcore model.

Shelby Sued

Usually, Shelby lawsuit headlines announce that Shelby is suing someone, but here's one where someone is suing Shelby Automobiles, Inc. Stephen Becker has been an authorized Shelby dealer since 2007, having sold and delivered 49 cars between 2007 and 2010, according to the suit. Becker has sold various Shelby cars for many years before that, and says he knew Carroll Shelby as early as 1977.