Today is April 30th, the government-imposed deadline for Chrysler to show that it can be a viable automaker. Early reports are saying that Chrysler is going to file for a “short surgical bankruptcy” to avoid liquidation. The bankruptcy is expected to last 30 to 60 days. Apparently, some lenders refused a U.S. Treasury Department demand to reduce [...]
GM’s debt holders will offer a counter proposal to the struggling automaker’s debt restructuring plan today to the Obama auto task force at 1 pm. According to CNNMoney, the Ad Hoc Committee, which represents about 20 percent of GM’s bondholders, will propose that GM should offer new stock giving the bondholders a whopping 58 percent [...]
In case you were so tired from watching Obama’s press conference last night and went to bed early, we’re posting a piece from last night’s Late Show with David Letterman where Tesla Motors CEO Elon Musk paid a visit. Musk also brought the Tesla Model S sedan to show Letterman who seems to have lost [...]
There is no doubt that when it comes to ‘car guys’ Jay Leno is a huge car enthusiast with his own online TV show about cars and a gigantic warehouse full of expensive and rare vehicles. So it’s obvious that Leno had something to say about 83-year old brand. "I was always a fan of [...]
One thing that sets G-Power aside from other tuners is that they are always gunning to break the world record. They currently hold the record for the fastest sedan in the world with their BMW M5 Hurricane RS – a faster version of the original M5 Hurricane. The thing is, when G-Power adds additional letters [...]
The members of the United Auto Workers have ratified a contract with Chrysler on the eve of the government-imposed deadline for the Auburn Hills automaker to show its viability in the long-term. 82 percent of production workers and 80 percent of skilled-trades workers voted in agreement, while 90 percent of office and clerical workers voted [...]
We’re just hours away from the government-imposed deadline for Chrysler to prove its viability and come up with a restructuring plan that would help it avoid bankruptcy. Speaking during his prime-time news conference on his 100th day as President of the United States, Barack Obama said he was more than hopeful that “a deal could [...]
So you’re pretty excited that the 2010 Volkswagen Golf GTI is on its way to the stateside later this summer; however, you’re pretty disappointed that the 2.0L turbocharged 4-cylinder engine only makes 206-hp. Well, while you remain sad and unsatisfied, tuner Mcchip is offering the European market with a performance package that boosts output of the [...]
GM announced the pricing info for the 2010 Buick Allure, a version of the LaCrosse for Canada. Pricing starts at $32,745 for the 2010 Allure CX FWD. The Allure CXL FWD starts at $34,745 while the CXL AWD and starts at $38,245. Power for the starting 2010 Buick Allure lineup comes from a 3.0L direct-injected [...]
Tomorrow is April 30th. To many it’s just another day on the calendar but to us and Chrysler, it is the deadline for the Aurburn Hills automaker set by the Obama administration to restructure and partner with Fiat. Obama to announce Chrysler bankruptcy tomorrow: Obama plans to announce tomorrow that Chrysler will be placed into Chapter [...]
