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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.

BMW 7-series models hit by recall

The National Highway Traffic Safety Administration has issued a recall of 45,500 BMW 7-series sedans in the 2005-2008 model year range. The recall, which has its origins in a NHTSA investigation initiated in August 2011, addresses a software malfunction that may cause vehicles to roll away when parked. A glitch in the BMW Comfort Access keyless-entry and ignition system is responsible for the problem.

2014 Toyota RAV4 gets more equipment and a lower price

2014 Toyota RAV4 (pictured) gets more equipment and a lower price Toyota like to think of the RAV4 as the originator of the compact SUV, and as it’s been around for two decades and is in its fourth iteration, they probably have a point. But being the first doesn’t guarantee continued success; that comes from still being relevant and keeping up with the ever growing competition in the market place. So Toyota are giving the RAV4 a bit of a makeover for 2014 – not quite a facelift, more an upgrade – with additional equipment across the range and a price drop too.