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Chrysler posts $370 million net loss on costs tied to repaid loans

Chrysler Group LLC, after recording its first post-bankruptcy profit three months ago, posted a net loss of $370 million in the second quarter due to costs tied to the repayment of government bailout loans. Chrysler incurred a charge of $551 million in paying back the U.S. Department of Treasury and the Canadian loans that kept the automaker afloat in 2009.

New Mercedes B-Class (2012) arrives

2012 Mercedes B-Class – now it’s official It looks like we may have to hold our hands up and confess that we may have been mistaken about the 2012 Mercedes B-Class. On several fronts. Mercedes are calling the new B-Class a ‘Sports Tourer’, which may be stretching the definition of Sport Tourer in our book, but does point out that the 2012 B-Class is a muck slicker and sleeker product than it predecessor, which was, let’s face it, an A-Class on a McDonalds diet.

Terry Karges to replace Buddy Pepp as executive director of the Petersen Museum

Terry Karges will take over as executive director of the Petersen Automotive Museum in Los Angeles on Aug. 15, replacing Buddy Pepp, who is retiring after more than two years on the job. Karges brings four decades of automotive, entertainment and motorsports management experience to the Petersen.