43 Articles
Jun 30, 2009
Porsche loan request rejected by Germany's state bank

Porsche is profitable and it owns a big chunk of the far larger Volkswagen, yet cash seems to be in short supply. Automotive News is reporting that the world-renowned luxury sports car maker's 1.75 billion euro ($2.45 billion USD) loan request from German state bank KFW has been rejected, leaving Porsche to search elsewhere for funding. Porsche secured 10.75 billion euros ($15.1B) in financing from banks in March to feed its 9 billion euro debt ($12.6B) mountain, but it's looking for al

Chris Shunk
Jun 30, 2009
Cash for Clunkers to officially begin July 23

When President Obama signed the Cash-for-Clunkers bill into law back on June 24, the Transportation Department was given 30 days to set the official rules and regulations for the program that will put the plan into motion. According to the official CARS (Car Allowance Rebate System) site, NHTSA intends to get the deed done a day early by July 23. Although the paper the President

Jeremy Korzeniewski
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