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News watch December 2010: today's auto industry news

Welcome to CAR Magazine's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hourFriday 31 December 2010• A judge in Manhattan has dismissed two lawsuits from hedge funds claiming for $2bn losses when it bought VW shares in 2008. Elliott Associates LP, Black Diamond Offshore and 39 other funds filed a complaint, claiming Porsche misled short-sellers who hadn't realised that Porsche had cornered the market in VW shares (Automotive News)Thursday 30 December 2010• Volvo plans to hire an extra 200 staff as it claims demand for its cars is rising.

De Tomaso assets being brokered

The De Tomaso brand and factory are up for grabs It’s true to say that the De Tomaso brand, probably the most significant of the unused Italian Supercar Marques, has been hawked round the world for years. But this document puts up some real detail, and pictures of the sad decline of a once successful (particularly in the U.S.) supercar maker. De Tomaso was, for a time, a great blend of Italian style and American muscle, but it lost its way badly many years ago and, despite a few attempts to resurrect it, De Tomaso has been off the scene for a long time now.

CAR interviews AMG's ex-boss Volker Mornhinweg

Volker Mornhinweg has single-handedly transformed AMG, turning the in-house tuner into a fully fledged and independent supercar manufacturer. During his five-year watch he built up an outstanding team of engineers and designers, and his enthusiasm for fast and dynamic cars was as contagious as it was never-ending. In April he will leave AMG and take on the new role of overseeing Mercedes’ van operations – a vital, but very different role.