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GM shelves Camaro convertible, Z28

General Motors has delayed indefinitely the Chevrolet Camaro convertible and Z28 high-performance variant to save cash, sources say. GM also has tabled plans to add a four-cylinder engine version of the Camaro. GM is starting to ship the Camaro to dealers this week.

One Lap of the Web: The Weird World of Wheels

-- Introducing the greatest television show you've never heard of: "Operation: Mystery!" Imagine if the "X-Files" took place in 1960s Japan, and had its own cool custom car the heroes rolled around in: the Tortoise, a pudgy little thing that resembled the unholy combination of an Opel GT and a Dustbuster. It was bulletproof (not really), had gullwing doors (really) and was based on a Subaru 360 (really!). Sadly, its whereabouts are unknown, and it might have disappeared into the ether along with the UFOs its heroes probably investigated.

Volkswagen hits back, weighs making a bid for Porsche

Volkswagen is considering an audacious reverse-takeover bid for its majority shareholder, Porsche, in a twist in the drawn-out struggle for control between the two German carmakers. The Volkswagen Group's supervisory board is said to be weighing the possibility of purchasing Porsche AG, in a move that would relieve its holding company, Porsche SE, of massive debt that industry analysts suggest the company may not be able to fund should the world's financial crisis drag on well into 2010--a scenario put forward this week by the International Monetary Fund. The secret plan emerged as shareholders were set to convene at Volkswagen's annual meeting on Thursday, and it comes after Porsche revealed that it is carrying some 9 billion euros ($11.73 billion) in debt, most of it owing to interest on loans taken out to purchase its 50.8 percent stake in VW.