‘City Car’ – TATA Motors Nano: “looks like the bastard offspring of a one night stand between the Prius and a Ford Aerostar”…
BWAAAAHAAAA!! Gawd I love that line and had to do a post just to share it :0)
Title quote found in comment by Brian DR1665 on June 09, 2009 at 10:36 AM on CarLust found by way of Glenn at Instapundit..
Video Courtesy of autocar:
From David Colborne’s Nano review at CarLust:
…But wait – it gets better. As numerous news outlets are pointing out, Tata is planning on bringing this little bastion of affordable motoring to the United States. Naturally, this begs the question–will it follow the path laid down by the VW Beetle, burrowing a place into our automotive hearts, or will it simply rust out of our consciousness like the Citroen 2CV?To help us answer that question, let’s run through the specs:
- 2 cylinder, 33 horsepower engine
- 4 speed manual transmission
- 0-43 mph in 14 seconds
- Top speed of 75 miles per hour
- 47 miles per gallon
- Drum brakes all around
- Seats four
Nano ‘luxury’ model, with air conditioning!
>But guess what? Someone has already made a ‘car’ smaller and cheaper than the Nano:
the only small car I liked was Laura Holt’s convertible Rabbit on Remington Steele., nifty Cabriolet ….but that was a German engineered car (and I think they still had electrical problems)…..not a Pelosi engineered shxtbox or cheap collapsible SUBcompact like the Nano…imo… …not for use with NYC cab drivers in the vicinity thats a fer shure
Courtesy of calayo29
More after the break..
Update 2: GM Bondholders accept counteroffer….Breaking: GM to close 14 plants Monday…
Update 2: CNBC has the details:
..The bondholders will start with 10 percent equity, 7.5 percent more at both $15 billion and $30 billion market cap. GM will emerge from this deal with $25 billion in secured debt. The offer came Thursday morning from GM and the Treasury Department. However, the move may not stop a possible bankruptcy for GM.
But in exchange for the improved payout, creditors would agree not to oppose a move to sell GM’s profitable assets to a new company funded by the U.S. government in a fast-track bankruptcy process.
The exchange offer will be open to bondholders until 5 p.m Saturday EDT, GM said…
Breaking now, GM Bondholders accept ‘sweetened’ offer, but bankruptcy still a go? developing on CNBC- GM shares resume trading
developing story on CNBC chyron…coming from AP, ugh…..
SOO glad we are spending that 60-70 Billion to save GM …so we can watch all these layoffs anyway….good Gawd almighty….and the pensions will be the next shoe to drop…you and I will carry that unfunded liability as well no doubt…i hearFed Reserve Fisher says its like 11 trillion theentire unfunded public pensions coast to coast…pfffft!!!
WSJ: Govt will provide massive additional financial aid to GM
We have already given GM 19 billion….
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GM to kill Pontiac Brand…
Say goodbye to an old friend, Pontiac..Treasury gave GM another 2 billion and made them kill Pontiac in exchange no doubt…
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Video Update: GM CFO Ray Young says co won’t make June 1st $1Billion debt repayment…
Update 2: CNBC’s Phil LeBeau
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Update: Bloomberg:
General Motors Corp., trying to avoid a U.S.-backed bankruptcy on June 1, may close plants and scrap models as much as four years sooner than planned to lower its break-even point, people familiar with the effort said….
…The new plan may require GM to complete many of the reductions in models and dealers planned by 2014 as soon as next year, allowing earlier plant and job reductions, people briefed on the talks said. GM said March 31 that by 2014 it would trim dealers to 4,100 from 6,122, nameplates to 36 from 43, and U.S. assembly capacity to 2 million vehicles from 2.8 million.
The bond offer may include some framework of GM’s plan to cut $20.4 billion in obligations to a United Auto Workers union- run retiree-medical fund by more than half, two of the people said. The bond offer may disclose what portion, if any, of U.S. loans would be converted to equity, one person said.
–the flintstones car at the new york international auto show–
Breaking from WSJ on CNBC Chyron…
This is in addition to GM CEO Fritz Henderson commenting bankruptcy more likely…
they are really putting the hammer down on the bondholders..were I they, I would NOT cut a deal, I would wait for my bankruptcy judge, but the pundits say a MI bankruptcy judge will be under HUGE political pressure to wipe the bondholders out anyway…
say hello to Nancy Pelosi and Henry Waxman’s Little Friend..a Flintstone mobile, perhaps all we will be allowed to purchase until they reinvent the wheel..
A vehicle that meets Waxman/Pelosi emission standards
We will then get sued by people behind us as our feet produce a cloud of dust they can claim MIGHT somehow damage them as a pollutant…
Good Grief….
Moderate in the Middle 