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General Motors board recommends selling Opel to Magna-led group
Thu, 10 Sep 2009General Motors Co.'s board has decided to support selling a majority stake in Opel to a group led by Canadian auto parts giant Magna. The move caps weeks of high-stakes maneuvering on both sides of the Atlantic that saw nationalism, labor issues and--perhaps most critical to GM, the use of its technology--all come into play. Magna and Russian lender Sberbank will get a 55 percent interest in Opel, the linchpin of GM's European operations for 80 years, as well as its British sister brand Vauxhall.
Lamborghini URUS – the FX70 killer
Thu, 19 Nov 2009Perhaps the Lamborghini Concept by Active Design points the way for the new Lamborghini Urus? Lamborghini has been long on new models – for a high-end supercar maker – but short on new cars for quite some time. Sure, we’ve had evolutions of the Gallardo in to the LP560 and the Murcielago in to the LP640 and it’s siblings.
Flashback: Pontiac killed on April 27, 2009
Wed, 27 Apr 2011It was precisely two years ago today--April 27, 2009--that Pontiac met its demise. In hindsight, the decision made a lot of sense for General Motors, which six weeks later would file for bankruptcy. But at the time, many enthusiasts were more than a bit upset that 80 years of Pontiac--once the third-best-selling brand in the United States--was set for the scrap yard.