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Chrysler's main creditors reach deal with U.S.; others hold out

The U.S. Treasury Department has reached a tentative debt-reduction agreement with Chrysler's main creditors but still must get other lenders to sign on for the deal to take effect, three people with knowledge of the talks said today. The accord with JPMorgan Chase, Citigroup, Goldman Sachs and Morgan Stanley would reduce Chrysler's $6.9 billion debt to $2 billion, which would be repaid by Chrysler in cash, they said.

Rennsport Reunion IV brings Porsches to Mazda Raceway Laguna Seca

Porsche has confirmed that its Rennsport Reunion IV, sponsored by Porsche Cars North America, will feature three days of the German marque's historic race-cars at Mazda Raceway Laguna Seca in Monterey, Calif. This is the first time the Rennsport reunion will be held on the West Coast, with Rennsport Reunion IV scheduled for Oct. 14-16, 2011.

Lorenzo Ramaciotti visits RCA for 'Two of a Kind' project

Lorenzo Ramaciotti, Fiat-Chrysler's head of global design, has visited the Royal College of Art as part of the Fiat ‘Two of a Kind' project explaining how Italian design has become world-famous in all fields in a talk themed ‘The Roots of Italian Car Design'. The ‘Two of a Kind' project asks four teams of four Vehicle Design students to design innovative exterior and interior proposals for how the Fiat 500 and the Panda might look in 2020, taking interactivity, digital interface, sustainability and global appeal into account. Maserati brought along a Quattroporte, a GranTurismo Sport as well as an Alfa Giulietta Sportiva to complement his talk in the hope it would encourage students to consider what the carmaker believes are the three concepts of the legacy of Italian car design: sportiness-dynamism; elegance-balance; and character-personality.