GM officially bankrupt

GM finally enters Chapter 11 Bankruptcy The US Government is to provide £30 billion to fund the transition, with GM being split in to ‘Old GM’ and ‘New GM’. In exchange for the money the US Government will take a 60% stake in ‘New GM’ with all the toxic assets and liabilities being disposed of through ‘Old GM’. The restructuring will allow GM to survive on a third less sales than before (10 million instead of 15 million).

Cancer patient tours Ford assembly plant

On Monday, 9-year-old Eli Williams became plant manager for a day at Ford's Mustang assembly plant in Flat Rock, Mich. Williams was diagnosed with a medulloblastoma, which is a malignant brain tumor, on Dec. 29, 2011.

CES: Mercedes-Benz boss talks technology

Mercedes-Benz boss Dieter Zetsche characteristically seemed to enjoy his status as a car guy amid the computer nerds at the 2012 Consumer Electronics Show. “I just came from Detroit yesterday, where some people consider consumer electronics to be a mere accessory to the car, and now I am here at CES where some people think the car is a mere accessory to the consumer electronics,” he said in a keynote speech on Tuesday at the event. Zetsche introduced mbrace2, the second generation of the Mercedes-Benz mbrace (pronounced “embrace”) system.