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Chrysler's main creditors reach deal with U.S.; others hold out

The U.S. Treasury Department has reached a tentative debt-reduction agreement with Chrysler's main creditors but still must get other lenders to sign on for the deal to take effect, three people with knowledge of the talks said today. The accord with JPMorgan Chase, Citigroup, Goldman Sachs and Morgan Stanley would reduce Chrysler's $6.9 billion debt to $2 billion, which would be repaid by Chrysler in cash, they said.

Performance Car of the Year 2008

In the November issue of CAR Magazine we've gathered together 29 of the best performance cars from the past 12 months to find out which is best. And to bring you the key battles of 2008 we've split the 29 cars into groups. That means the new issue of CAR features the Lamborghini LP560-4 taking on the GT2, CLK Black and Gumpert Apollo; Nissan's amazing GT-R matches up against the new 911, the Jag XKR-S and Aston's revised V8; Ford's brand new Focus ST Moutune takes on the spanking Mini JCW and KTM's crazy X-Bow meets three of the best British track cars, plus much, much more.

Designer Camilo Pardo stages 'Fuel Injection' art show in Michigan

Automotive designer Camilo Pardo's greatest work of art may have been the Ford GT, but those interested in seeing his work in mediums other than sheetmetal can attend his solo exhibition, titled "Fuel Injection," premiering this weekend at the 323 East gallery in Royal Oak, Mich. Running from June 11 to July 2, Pardo's show will include silk-screened images on repurposed materials such as wooden doors and aluminum signs, and it will revisit his favorite subjects--cars and women. The exhibit recalls the pop art of Andy Warhol's era, Pardo says.