Max Auto Updates - 10/06/2009

Chrysler Fiat deal blocked by Supreme Court



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The United States Supreme Court has approved a temporary halt to the sale of Chrysler assets to Italian-owned Fiat S.p.A. Justice Ruth Bader Ginsburg ruled for the court, without stating the length of the delay.

Several Indiana pension funds and construction firms opposed the sale, and took the case to the High Court. Under the current deal, the funds would only receive a small portion of the money owed them by Chrysler. The U.S. Apellate Court in New York had set a 4pm Sunday deadline for Supreme Court intervention.

At the deadline Justice Ginsburg wrote that the asset sales "are stayed pending further order." She did not state when the case would be revisited. Supreme Court rules allow Judge Ginsburg to either issue her own ruling on the appeal, or take the matter to the entire Court.

Experts believe the decision is meant to give the court more time to determine the merits of the case. Insiders fear that a lengthy delay will kill the deal.

Although Fiat is allowed to abandon the deal if it is not finalized by June 15, the Italian firm said that was unlikely to happen. A spokesman told French newswire AFP, "Fiat is committed [to the Chrysler deal] even after June 15."

If approved in its current form, Chrysler LLC will be dissolved. A new company, Chrysler Group LLC, would emerge, with Fiat owning 20 percent. The United Auto Workers health care fund would take 68 percent, while the American and Canadian governments would take eight and two percent, respectively. By hitting certain financial targets, Fiat could quickly increase their stake to 35 percent. Should Fiat pay back Chrysler's TARP loans on time, they can raise their end to 51%.

Current Chrysler LLC owner Cerberus will not have ownership in the new company.

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Senner Tuning creates Audi A5 Black and White



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Engineers first attacked the cars aerodynamics and weight by installing a carbon fiber spoiler apron with matching side-mirror housings. Carbon fiber is also used on a new rear bumper, one of many alterations at the back. Also found is a new rear spoiler and lip, new LED taillights, and a customized stainless steel quad-exhaust. Total cost of these mods: R38400.

New 20-inch ASA GT1 alloy wheels were also mounted. The wheels are available in either Shiny Silver or Matte Black, with the possibility of a separate color ring trim near the wheels' edge. Choices for the rim lip include orange, white, red, and silver. Measuring 9x20 in front, 10.5x20 in back, the wheels are wrapped in Vredestein ultra Sessanta XL tires. The company mounted a Bilstein B16 PSS10 fully adjustable coilover suspension to enhance the handling capabilities. These changes cost just under R52300.

Track wheels are also available for an additional R2900.

Senner Tuning also retuned the engine to make it more powerful and performance-driven. The 3.0-liter TDI now produces 221kW and a maximum 600 Nm of torque. Speed is electronically limited to 280 km/h. When combined with the new sport air filter, the cost of the under-the-hood modifications is R18800.

Last, designers looked at the car's interior, and decided some further changes needed to be made. They used silver-lined carbon fiber to surround the ashtray cover, center console, and both the front and rear door panels. Total price for this is R19300. The company charges an additional R4500 to trim out the instrument cluster.

All in all, the car does look pretty hot with all these changes. But for over R133000, maybe mix-and-matching only select modifications is a better decision than getting the full package.