Porsche 95542338900 Parking Brake Pedal Damper on 2040-parts.com

Bondholders snub GM, bankruptcy filing likely

Nowhere 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.

Citroën separates DS and C line design departments

Citroën is reorganizing its design division in order to create a dedicated design department for its semi-premium DS line of models, led by Thierry Metroz. The new structure will come into effect on 1 June. Alexandre Malval, former head of styling for the DS5 and C5, will manage the mainstream C line.

Peter Mullin makes extravagant donation to Art Center College of Design

Peter Mullin, the purveyor of the Art Deco-inspired Mullin Museum in Oxnard, California, knows a thing or two about good design, and about nurturing good design. His contributions to Art Center have included the Peter W. Mullin Endowed Scholarship, which since 2005 has provided worthy students with financial aid.