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Obama calls for shared sacrifice in auto bailout

President-elect Barack Obama says he wants to keep tough conditions on automakers that get federal loans. The companies must develop sustainable business models because it would be unacceptable "to keep them on their lifeline through taxpayer dollars in perpetuity," Obama told The Washington Post. Obama said industry restructuring will require "everybody, from labor to management to creditors to shareholders, giving something up." His comments contradict suggestions that the new administration will relax federal loan agreements reached last month with General Motors and Chrysler LLC, possibly with softer demands on the UAW.

1910 Flying Merkel is top seller at Vegas auction

Auctions America by RM enjoyed a successful debut in Las Vegas this past weekend, selling more than $4.1 million worth of vintage motorcycles, with an impressive 82 percent sell-through rate of all lots offered. The event at the Rio All-Suite Hotel & Casino Jan. 12-14 had strong attendance, with thousands of enthusiasts gathering to see 490 motorcycles and a range of bike-related memorabilia cross the auction block.

Saab 9-5 (2010): more first official photos

By Tim Pollard First Official Pictures 27 August 2009 09:35 We brought you the leaked first photos of the new Saab 9-5 a few weeks back. But today the veil of secrecy is lifted and we can bring you the full unexpurgated version of events: the 9-5 photo gallery and details behind the new Saab that will, next spring, finally replace one of the most geriatric cars on sale today.Yes, the current 9-5 is – bewilderingly – 12 years old, a surefire indication of just how low down General Motors' pecking order Saab lay. Although developed under GM's tenure, the new 9-5 is a beacon of hope for the now-independent Saab.