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Bondholders snub GM, bankruptcy filing likely
Wed, 27 May 2009Nowhere 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.
Lamborghini supercars
Tue, 29 Jul 2008By Tim Pollard 29 July 2008 12:00 As with so many supercar companies, Lamborghini was the vision of one man: Ferruccio Lamborghini. He founded it in 1962 after a successful career making tractors. The Sant'Agata Bolognese birthplace remains the company's home – and it has produced some of the greatest and most outrageous supercars of all time, giving this company equal rights with Ferrari to claim to be the world's best loved supercar brand.
New Saab 9-5 Revealed
Mon, 29 Jun 2009The new Saab 9-5 (2010) will launch at Frankfurt in September The new Saab 9-5 is very overdue. The current model is now 12 years old, and long due for replacement. But GM’s problems and now Saab’s takeover by Koenigsegg have conspired to delay the new 9-5, but it now looks clear that it will launch officially at Frankfurt in September.