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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.

2013 Ford Fusion prototype spied on the street

The Ford Fusion sedan is not that far away from shifting to a global platform that will also spawn a new Mondeo for European markets. Now prototypes of the new 2013 Ford Fusion have been captured running around on public streets. Despite the camouflage, it's easy to see that the 2013 Fusion is getting some significant changes.

Bentley-designed Santa’s sleigh

By Tim Pollard First Official Pictures 17 December 2008 14:30 We reckon Father Christmas is probably a bit of a Bentley guy: he has a large number of miles to cover in speed and in great comfort – and he needs something big and plush to look after all those presents. What better solution than something mixing the design class of a Bentley with the snow-covering ability of a downhill toboggan? Bentley designers John Paul Gregory imagined a futuristic Santa Azure Sleigh (complete with rifled tailpipes and exposed Bentley Blitzen powerplant), while Yunwoo Jeong turned the Continental GTC cabrio into a sleigh with quad-outrigged headlamps and begoggled Santa.