Genuine Vw Porsche Lug Bolts Wht004676 on 2040-parts.com

One Lap of the Web: Green machines, light-up stars and an upside down Porsche

We spend a lot of time on the Internet -- pretty much whenever we're not driving, writing about or working on cars. Since there's more out there than we'd ever be able to cover, here's our daily digest of car stuff on the Web you may not otherwise have heard about. To participate in the 24 Hours of LeMons you not only need a sub-$500 car, but you also have to find a gimmick.

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.

The Saint's Volvo P1800 makes a return

Remember the beautiful Volvo Concept Coupe unveiled in Frankfurt earlier this month? The one that some people proclaimed to be the most beautiful Volvo ever created? Well, they're wrong, because for now at least, the Volvo P1800 - a car which appeared alongside the Concept Coupe in Frankfurt - remains not only the most beautiful Volvo in the world, but arguably one of the most beautiful cars in the world.