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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.

Project Car Hell, Homely but Lovable Edition: Triumph Mayflower or Frazer Vagabond?

Welcome back to Project Car Hell, where those little carburetor screws always disappear down the intake and all the parts you need are hoarded by bitter curmudgeons in Alaskan survivalist shacks. The Hell Garage Demons have come to the realization that the ugly cars of the early postwar era just don't get enough restoration love these days, and so they've taken a break from their day jobs (boiler-room managers for a major telemarketing firm) in order to scour the List of Craig for a pair of suitably homely machines from the 1946-1954 period. There were many to choose from, but they've found a couple of appropriate cars made on opposite sides of the Atlantic.

2010 Jaguar XJ Neiman Marcus special edition sells out all 50 copies

It took all of four hours and four minutes for a special Neiman Marcus edition of the redesigned 2010 Jaguar XJ to sell out through the retail giant's Christmas book on Friday. Just 50 copies of the big cat, called the XJL Supercharged Neiman Marcus edition, will be produced. And they're all spoken for after brisk sales reservations last week.