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Some secured lenders object to quick sale of Chrysler
Mon, 04 May 2009A minority group of Chrysler LLC secured lenders has objected in bankruptcy court to the quick sale of Chrysler to a new corporate entity led by Fiat S.p.A. The group of about 40 banks and hedge funds holds about $3 billion of the $6.9 billion in secured loans that Chrysler has with the banks. Four major New York banks holding $4 billion of that debt agreed last week to settle for $2 billion in payment for the $6.9 billion owed.
Audi TT Quattro Sport (2014) first official pictures
Tue, 04 Mar 2014By Ben Pulman First Official Pictures 04 March 2014 13:20 This is the new Audi TT Quattro Sport concept car, a four-wheel drive über-coupe with 414bhp and designs on the Porsche 911. It’s been unveiled today at the 2014 Geneva motor show. ‘We wanted to demonstrate what the new TT’s technology can do if you take it a step further,’ said Ulrich Hackenberg, R&D boss for the whole Volkswagen Group.
Porsche museum holds treasure trove of history
Tue, 09 Nov 2010Ferdinand and Ferry Porsche shared one characteristic with other automotive icons such as Enzo Ferrari and E. L. Cord: a complete concentration on building the future and little interest in the past.