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GM reportedly set to sign deal on Thursday to sell Opel
Tue, 13 Oct 2009General Motors Co. likely will sign a deal on Thursday to sell a majority stake in Opel to a group led by Magna International Inc., German news agencies reported, citing sources close to the negotiations. GM agreed on September 10 to sell 55 percent of Opel to Canadian supplier Magna and its Russian partner Sberbank, but the deal stumbled amid labor union demands for a veto on factory closures and concern in the UK and Spain that 4.5 billion euros ($6.7 billion) in aid pledged by the German government for restructuring Opel favored the carmaker's German factories.
John Fitch's Phoenix up for auction
Wed, 28 May 2014John Cooper Fitch -- World War II hero, racer par excellence, safety pioneer, and all-around nice guy -- used to show off his Phoenix at the annual Greenwich Concours d'Elegance in southwestern Connecticut, not terribly far from his 1700s estate in his beloved Lime Rock. The Phoenix was his vision of an American Porsche, a strange mashup of a De Tomaso Pantera with Corvette Stingray. Twin humps on the fenders hid dual spare tires, different sizes for the front and rear.
MINI Paceman Coooper S hits the Nurburgring (video)
Sat, 21 Jul 2012The next MINI to hit showrooms – the MINI Paceman – has been caught testing at the Nurburgring ahead of a Paris Motor Show. We did think that the MINI Paceman – which arrived at the Detroit Auto Show last year as a concept – would make it to market as a Countryman Coupe. But just last month MINI let it be known that they’re actually going with the funkier Paceman rather than the descriptive, though predictable, MINI Countryman Coupe for the production version of the Paceman which will debut in production guise at the Paris Motor Show in September.