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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.

Volkswagen to buy 42 percent of Porsche, full merger planned

Volkswagen will buy 42 percent of Porsche's sports-car business en route to a full merger by the end of 2011, the companies announced Thursday. VW will pay $4.7 billion for its initial stake in Porsche. It positions the new company to have 10 brands and global sales of 6.4 million, and Volkswagen CEO Martin Winterkorn is likely to lead the entity.

Bentley EXP 9 F SUV – new photos & video

Following an appearance at Goodwood, Bentley has released new photos and video of the EXP 9 F SUV as its PR salvo continues. Bentley EXP 9 F – the Bentley SUV to be that might be more loved if Bentley gave it a real name – made a static appearance at last weekend’s Goodwood Festival of Speed, following which Bentley has released some new photos and a new video to put their monster SUV back in the news. We did catch sight of the Bentley SUV at Goodwood – although it wasn’t especially high profile as it wasn’t blatting up the hillclimb, unlike Bentley’s other offerings from the new Continental GT Speed to the Bentley Blower – and it looked much the same as it did at Geneva.