07 08 09 10 2010 Vw Volkswagen Passat Sw Taillight Light Genuine Factory Led R on 2040-parts.com

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.

NADA asks U.S. to suspend clunkers program

National Automobile Dealers Association officials asked the government to suspend the cash-for-clunkers program because a survey by the group found that the $3 billion fund has been exhausted, NADA Chairman John McEleney said. "We asked them to put a halt to the program--I think we said 'very soon'--but a suspension at midnight tonight would make sense," McEleney said in an interview Wednesday. "Our survey opened the eyes of the Transportation Department." A suspension would allow dealers to submit all pending claims and permit the government to process them so that a precise determination could be made of how much money, if any, is left in the program, he said.

Film Friday: 'Head On' pits a 1938 Chevy against a mighty locomotive

The train is, in many ways, the enemy of the automobile. We're not even getting philosophical about personal transportation versus mass transit or diving into disputes over whether to fund interstates or railways: Trains are simply bigger and heavier than even the bulkiest of cars, and they're quite happy to turn any vehicle that happens to be parked on their tracks into scrap-metal pancakes without slowing down. It's physics, people.