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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).

GM returning to leasing with luxury vehicles

General Motors will return to the leasing business focusing on luxury vehicles, but not on a broader basis, Vice Chairman Bob Lutz said. "We will get back into leasing, but we are not going to use massive subsidized leasing to drive volume because it's volume without profitability," Lutz said July 29 in an interview with Automotive News. "We'd rather sell less at higher profit than sell more at lower profit." Lutz said it still would make sense for GM to do more leasing on its luxury vehicles.

College Exhibition: Creapole MA Degree Show 2011

Creapole Design School – 'Ecole de Creation Management' as it refers to itself – has just held its annual Masters Week exhibition at its central Parisian premises. The focus of this year's show is 'intelligent technology', proposing alternative propulsion systems for the transport of tomorrow, from the urban to the aquatic, from the functional to the fictional. The challenge for these young designers is to take these new technologies and apply them in an attractive, meaningful and human way.