The Demo Site

As the movie Hoosiers amply demonstrated, Indiana natives don't quit. That's also true for three Indiana state pension funds who have fought Chrysler's bankruptcy all the way to the federal appeals court in New York and, having lost their case there, are filing papers with the Supreme Court today.
The central issue is that the funds feel Chrysler's post-bankruptcy remuneration plans have unfairly cost the funds a great deal of value by putting unsecured debtors such as the UAW ahead of the funds' claims. They are fighting the bankruptcy by alleging that the government's TARP disbursal to Chrysler was unconstitutional and that the subsequent events amount to a covert reorganization, not Chapter 11.
Yet when asked whether a Chrysler liquidation would be better for the pension funds than the Fiat deal, the funds' lawyer replied that he was looking for more remuneration for secured debtors. The filing will go to Justice Ginsburg who will decide whether to accept it at all, to handle it alone or to refer to the full court for hearing. Chrysler has until June 15 to emerge free and clear, else Fiat can walk away. And if that happens, Chrysler might owe Fiat $35 million -- which is just $7 million short of what the three Indiana funds together have invested in the Pentastar. Thanks for the tip, MM!
[Source: Automotive News, sub. req'd]

2009 Turkish Grand Prix -

With the established teams still threatening to walk and new teams lining up by the dozen, nothing could have better characterized Formula One's transition from old to new better than the move from the Monaco Grand Prix two weeks ago to the Turkish Grand Prix this weekend. While the Monaco race - held on the streets of Monte Carlo, with its close proximities and timeless seaside city-scape - remains one of the sport's oldest venues, the race in Turkey - at the new-school Istanbul Park Circuit, characterized by wide run-offs and state-of-the-art accommodations - is one of its youngest.
First held in 2005, the Turkish Grand Prix has been won the past three years running by the same driver: Ferrari's Felipe Massa, the young Brazilian who narrowly lost out on the driver's crown last year to Lewis Hamilton. Surely Ferrari's golden boy was eager to extend his domination at the Ottoman autodrom, but would he and his Maranello squad be able to translate the marked improvement which they displayed in Monte Carlo just a fortnight ago into a return to winning form in Istanbul?

General Motors said today that it will stop building medium-duty trucks at its Flint Assembly plant by July 31.

GEM CEO Fritz Henderson said that the automaker was unable to find a buyer for the operation. It had been searching for a buyer for the last four years.

The Flint factory employs some 2,100 people, of which 525 made medium-duty trucks for GM and Isuzu. The plant also builds the Chevrolet Silverado and the GMC Sierra.

GM had negotiated a deal with Isuzu to keep production going through 2014 of the Chevrolet Kodiak and the GMC Topkick. It failed to close a deal with Navistar International Corp., a move that would have relocated jobs to another facility.

Who knows what Ironhide is going to do?

As GM prepares to sell its Swedish and German brand, Opel and Saab, the bankrupt automaker’s Australian brand is safe. After its surgical bankruptcy, the ‘New GM’ will consist of just four core brands including Chevrolet, Cadillac, GMC and Buick.

However, managing director of GM Holden, Mark Reuss, says that the Australian brand will not be sold.

“I can’t say forever because some day when I’m not here, and more perhaps when someone may have that idea, but we have not been approached, nor have we been offered, nor are we pursuing any sale of Holden,” Reuss said.

“This is one of the iconic brands in Australia, and I think it always will be as long as we take care of it and feed it with the products and the different dealer services that we do today, which are very good.”

As GM files for one of the biggest bankruptcies in U.S. history, Reuss said that Holden will remain unchanged and will join the ‘New GM.’

Reuss said that company is now focused on improving the Commodore lineup and launching the Holden Cruze and Volt models.

Source: Drive

Park Lane Rolls Royce MINI

People love to imagine bigger and better things for the long-running MINI. Whether it's a new Speedster version or a revived MINI Moke, the platform inspires daydreaming. Apparently, it aspires, too, to a more pimped-out existence. Rumors of a Rolls Royce-branded MINI have been floating around recently, stoked most recently by a series of pictures taken recently at London's famous Park Lane MINI dealership. Sadly, this is not a production Rolls-Royce MINI. Instead, this is a MINI made for "a recent dealer event," and a MINI spokesperson told theSwitchback that a MINI Rolls has not yet been approved for production. Sorry. Still, anyone who's going to do any speculation about the MINI/Rolls-Royce collaboration could use this car as inspiration: it's got magnolia-colored leather practically everywhere, including the roof lining and the air vent bezels. Everything else is covered in walnut wood and glossy piano-black trim. It may not be a production preview, but it sure is a pretty MINI.

Austrian motorcycle maker KTM stakes its reputation on the ability of its off-road motorcycles to tackle the toughest terrain on earth, and it's made a habit of proving these capabilities with both a factory team and a far-reaching privateer support program in the Dakar Rally each year. Up through 2009, that is - KTM has just announced that it's pulling out of next year's event.
The reason cited for the shocking decision is the French ASO's ruling that all motorcycles taking part in the Dakar race in 2010 must use engines displacing 450cc or smaller. KTM's entries all use engines displacing a little over 650cc and will therefore not qualify. Instead of waiting for next year to react, KTM "has decided to immediately accept the consequences and announces its withdrawal from the Dakar."
Whether this is nothing more than a case of sour grapes or an intentional move to limit KTM's chances of winning a ninth-consecutive victory at the Dakar Rally, it's disappointing to a whole bunch of fans with orange-colored blood running through their veins. For what it's worth, KTM says it will continue racing, just not in the Dakar. Make the jump to read KTM's official press release.

Currently the 2010 Volvo X60 is available with a 3.0L turbocharged T6 engine making 281-hp with a maximum torque of 295 lb-ft. Volvo announced today that it is adding a new version of the compact SUV, the 2010 Volvo X60 3.2.

Power comes from the same 3.2L engine that powers the base S80 sedan. Mated to a 6-speed automatic transmission, the 2010 X60 3.2 makes 235-hp and peak torque of 236 lb-ft. Fuel-economy is estimated at 27 mpg on the highway and 18 mpg in the city.

Pricing for the 2010 Volvo X60 3.2 starts at $33,245 for the front-wheel-drive model and $35,245 for the AWD model (prices include $850 destination charge).

Press Release:

Volvo announces pricing for the value laden 2010 XC60 3.2

Irvine, CA (June 5, 2009) - Volvo Cars of North America, LLC (VCNA) announced pricing today of its newest version of its acclaimed small premium utility the XC60. The 2010 XC60 3.2 will be offered with either front-wheel drive or all-wheel drive when the vehicle goes on sale this summer. A front-wheel drive XC60 is value priced at 32,395*. The new 3.2-liter with AWD is aggressively priced at $34,395*.

The XC60’s normally aspirated 3.2 is the same engine that powers the base S80 flagship sedan introduced in 2008 and comes standard with a six-speed automatic transmission. The inline 6-cylinder produces an energetic 235 horsepower and 236 pound-feet of torque across a wide power band that provides for the XC60’s quick, fluid acceleration.

Fuel economy for the 3.2-liter is nothing short of excellent with an estimated 27 miles per gallon on the highway and an estimated 18 miles per gallon in the city. Additionally, Volvo - a perennial leader in emissions control - offers two version of the 3.2 with either ULEV-II (ultra low emissions) or PZEV (partial zero emissions) systems.

This latest edition of what might be termed the world’s safest passenger vehicle incorporates more than 80 years of safety innovation including the Volvo invented 3-point seatbelt more than 50-years ago to the introduction of standard City Safety, a low-speed collision avoidance system, launched with the 2010 XC60 T6 AWD earlier this year.

Other safety features include Roll Stability Control (RSC), pretensioned seatbelts in all seating positions, an inflatable side curtain for front and rear passengers and a high-strength Boron steel roof structure, the XC60 combines both active and passive safety systems in one stunningly designed package. Additional standard safety features include Dynamic Stability Traction Control (DSTC), anti-lock brakes, WHIPS, Volvo’s whiplash protection seats, and the SIPS side-impact protection system.

Standard equipment on the XC60 3.2 includes: 17-inch alloy wheels; auto-dimming inside rearview mirror, Bluetooth with hands free capability, dual zone Electronic Climate Control, front fog lamps, HD Radio, high performance audio system with 8-speakers, a 4×40 amplifier, CD player with MP3 capability, cargo area load cover, power driver’s seat with memory function including the outside mirrors, Sirius Satellite Radio including a 6-month complimentary subscription and USB and auxiliary inputs.

The XC60 3.2 is also included in Volvo’s excellent Complimentary Factory Scheduled Maintenance program, which covers the first three years or 36,000 miles (whichever comes first). Complimentary Factory Scheduled Maintenance helps reduce the cost of ownership by providing customers the first four maintenance visits to their Volvo retailer as complimentary. A wide range of services are covered by the program, including oil and filter changes, cabin filter replacement, complete fluid level top-offs and a check of the vehicle’s on-board diagnostic system.