Here’s a story that sounds very 2017 for you: General Motors is set to fight General Motors in court. To the untrained eye, that may seem strange, but the scenario is a byproduct of the automaker’s bankruptcy nearly a decade ago, and GM’s deadly ignition switch scandal that later followed, leaving almost 125 people…
Back in May, you may have heard, the Skip Barber Racing School filed for Chapter 11 bankruptcy, citing at least $10 million in debt and millions owed in rent to various U.S. tracks. That’s Skip Barber Racing School, not Skip Barber, a distinction that apparently went over the heads of many people, because the, uh,…
Skip Barber Racing School owes over $10 million to creditors, including $1.2 million to Lime Rock Park, and has filed for Chapter 11 bankruptcy, according to documents provided to The Drive.
Zenos gave us Ford engine-packing track day toys. With carbon fiber tubs and aluminum spines, they were stripped out, British and offered a raw driving experience. It even starred on an episode of The Grand Tour. But that doesn’t matter anymore because the company is now bankrupt.
MV Agusta, that lovely little decades-old Italian motorcycle company that we all watch like a child taking his first pedals on a bike without the training wheels, has fallen over once again. The long-struggling bike company filed for the equivalent of Chapter 11 bankruptcy (a U.S. code) last week.
Anytime anyone rags on one of Erik Buell’s motorcycles, I have to fight an overwhelming urge to pick them up and shake them. “Don’t you understand his story?!” I shout in my head. Not enough people do, so let’s fix that once and for all. It’ll make you appreciate the quirky, flawed genius of his motorcycles.
One recurring thing of Detroit's trip through bankruptcy court has been the local eye-rolls over coastal writers diagnosing the city's decline — the Detroit Free Press offers an occasional feature called "The truth about Detroit," battles have raged over Anthony Bourdain's portrayal in his CNN show, and even we've…
I worked a late shift Monday and woke up late, so, in the spirit of embracing a morning full of nothing, I popped Richard Linklater's 1991 classic "Slacker" into my roommates' Blu-ray player and diligently went about my morning routine of sitting on my couch.
Depending on what news outlet you were reading around town regarding today, it was Detroit's D-Day; its day of reckoning; a defining moment; or, if you were with us, a day where creditors were going to be offered a tough pill to swallow.
In death, they say, there can sometimes be life. And in the death of Suzuki Automotive in North America, a suburban Pittsburgh Suzuki dealer found that he can make a lot of money, at least for a little while.
Everyone's reported today that Fisker let go of most of their staff and is spiraling towards an inevitable bankruptcy and how that means the death of the company. They may be wrong.
“My ethics told me I had to leave. I had to follow ethical standards. I still love the company. It was my life.” Henrik Fisker sounded angry about what had been going on, but he refused to say much beyond that by way of specifics. What is clear, though, is that past few months have been rougher for the company that…
Fisker has had a rough go of things in recent weeks. They've announced they are furloughing workers for at least a week. And now it sounds like they've hired bankruptcy lawyers. Uh oh.
This morning we got word that Group Lotus might be on the brink of shutting its doors forever. Not really a new rumor, but Lotus also has a history of strange PR moves. How would they take care of this one?
You can sell toys with a "batteries not included" stipulation, but apparently that won't fly with electric cars; especially not a $100,000 ride like the Fisker Karma. So Fisker is suspending production of its luxury plug-in hybrids because its battery manufacturer filed for bankruptcy.
Suzuki won't be selling cars in the US anymore; their US distributor just filed for Chapter 11 bankruptcy protection. Oh, you're not surprised? Neither are we.
Georges Marciano had everything. The cofounder of Guess? Jeans enjoyed all the things that come with the glamorous life of high-margin clothing sales: a huge Beverly Hills Mansion and a bunch of supercars lining the driveway.
Aptera, the California electric vehicle startup that once hoped for ten thousand sales of its futuristic three-wheeled 2e per year, ceased operations on Friday after failing to secure needed funding. As you can sadly see in these videos, in the wake of the collapse, the company's now-unemployed staff went on a…
Alvin Joiner, a.k.a. Xzibit, a.k.a. recursive Internet meme guy, owes nearly $1 million in delinquent federal taxes. His excuse for not paying them? The cancellation of Pimp My Ride. Seriously.
Old GM creditors take on U.S. Treasury in bankruptcy court over who is entitled to the fruits of $1. [AutoNews]
