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Some secured lenders object to quick sale of Chrysler

A 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.

Cycling charity given pothole funds

MONEY TO ENABLE more cyclists to report pothole problems through a new smartphone application is being provided by the Government. Whitehall is giving £30,000 to help cycling charity the Cyclists' Touring Club (CTC), revamp its '"Fill That Hole" website and develop a new app. More than nine million iPhone users can download the website's current app to report potholed roads to their councils.

CAR interviews Volvo design vice president Peter Horbury (2010)

By Tim Pollard Motor Industry 04 February 2010 07:00 CAR recently spent some time one-to-one with Peter Horbury, Volvo's new vice president of design. Horbury, who pioneered Volvo's modern look in his previous stint as design boss from 1991 to 2002 spent five and a half years in charge of Ford's North American design studio. But in May 2009, Volvo CEO Stephen Odell asked Horbury to return to the top job in Gothenburg.