Moog Sb371 Leaf Spring Bushing on 2040-parts.com

GM Europe weeks from running out of cash

By Phil McNamara Motor Industry 03 March 2009 19:03 GM Europe will run out of cash ‘early in the second quarter’ of 2009, unless the divison secures $3.3bn in funding from European governments. Speaking today (Tuesday 3 March), GM chief operating officer Fritz Henderson revealed that insolvency loomed, due to the plunge in European car sales and GM’s liquidity crisis in North America. He ruled out a swift cash injection from private investors, saying that no talks had taken place and that lengthy negotiations and due diligence would take too long.

Skoda Rapid Spaceback (2013) at Frankfurt motor show

This is the new Skoda Rapid Spaceback that’s basically an estate version of the Rapid hatchback that was launched in the UK last year. Skoda wants its miniature Audi A3 Sportback-lookalike to appeal to young buyers and trendy youthful families when the car goes on sale this October, and it shouldn’t cost much more than the regular Rapid, which starts at £12,905. Skoda Rapid Spaceback – more space you-know-where, then?

Auctioneer Dean Kruse's money woes continue

Auburn, Ind., auctioneer Dean Kruse has been ordered by a local court to pay more than $1.3 million to an Indiana bank, and a leasing company has asked a federal judge to repossess Kruse's 1985 Cessna jet, which had been insured at $3.5 million. These two recent events are on top of several months' worth of financial woes for one of the classic-car world's best-known auctioneers. AutoWeek reported in August that people from across the country were complaining that they had not been paid for cars sold at various Kruse International auctions.