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GM posts $6 billion loss, burns $10.2 billion in cash as sales fall

General Motors, facing a June 1 U.S. restructuring deadline to avoid bankruptcy, posted a $6 billion net loss in the first quarter and burned through $10.2 billion in cash as global auto sales plunged. GM had $11.6 in cash reserves on March 31, down from $14.2 billion at the end of the fourth quarter.

The Race of Champions Returns To Wembley

By Ben Whitworth Motor Industry 26 June 2008 13:46 Schumacher is back! The battle to decide the world’s fastest motorsport star returns again to Wembley Stadium on the 14th December – and the seven-time F1 champ has already signed up. Covered in almost 2000 tonnes of tarmac, the pitch will once be transformed into a bespoke circuit which will see the cream of the motorsport world go head-to-head on equal terms and in identical cars.

Barry Meguiar released from hospital, spent 8 days in a coma

Car enthusiast Barry Meguiar has been released from the hospital in Monterey, Calif., after 17 days of treatment for a rare form of viral pneumonia. Meguiar, 67, left the hospital on Aug. 30, according to a press release issued on Wednesday.