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GM officially bankrupt

GM finally enters Chapter 11 Bankruptcy The US Government is to provide £30 billion to fund the transition, with GM being split in to ‘Old GM’ and ‘New GM’. In exchange for the money the US Government will take a 60% stake in ‘New GM’ with all the toxic assets and liabilities being disposed of through ‘Old GM’. The restructuring will allow GM to survive on a third less sales than before (10 million instead of 15 million).

Win a tour of F1 champ Jody Scheckter’s farm

In the new February 2010 issue of CAR Magazine, we join 1979 F1 champion Jody Scheckter for a tour of his biodynamic farm. He’s swapped four star for four-crop rotation in his new life as an organic farmer – and we’ve got the inside line on his Farmula One project. It’s an illuminating feature and the former Ferrari ace still keeps some of the pivotal race cars from his career – including his championship-winning ‘79 Ferrari – near Laverstoke Park Farm, in Basingstoke Hampshire.

Classic Car Boot Sale returns to London

Fans of vintage cars, fashion and memorabilia will have all their wishes met at next month’s Classic Car Boot Sale, returning to London’s Southbank Centre. Following the inaugural event last year that attracted over 8,000 visitors this year’s event has been extended over Saturday 15th and Sunday 16th March. Located along the riverfront at Southbank Centre between the Queen’s Walk, Hungerford Bridge and Jubilee Gardens, the Classic Car Boot Sale will have an interesting mix of fashions, homeware and memorabilia, all sold from the boots of classic cars.