Woosh, the Money's Gone: Garrett Files for Bankruptcy

U.S. auto-parts manufacturer Garrett Motion filed for Chapter 11 bankruptcy over the weekend. The announcement comes as ex-parent Honeywell International decided it could do without turbochargers and spun the company off in 2018. Garrett claims it lost a bunch of money during coronavirus lockdowns, like so many others, and was dumped by Honeywell only to be saddled with financial liabilities related to asbestos-exposure claims.

But Garrett has also said it’s entering into a purchase agreement with the private equity firm KPS Capital Partners LP for roughly $2.1 billion, providing more than a shred of hope things will turn out okay. While other firms can take a whack at buying the turbo supplier, they must be willing to cover its corporate debt by exceeding the existing bid and will likewise be subject to court approval. Garrett thinks it can still come out on top and wrap the sale by the start of 2021 without interrupting production any more than the pandemic already has.

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There's a New Sheriff in Town: ISIS Fighters Fear "The Beast"

Despite their psychopathic barbarity, ISIS fighters fear many things — women, music, culture, bathing, and now a lone tank dubbed “The Beast.”

According to U.S. military official Col. Steve Warren, an American-trained Iraqi tank crew has become a one-vehicle Dirty Dozen in the aptly named Iraqi city of Hit, the Associated Press has reported.

As part of ongoing efforts to retake the city from ISIS militants, the lone crew is “tearing it up” with its distinctively midwestern machine, obliterating every unfriendly target of opportunity with its General Dynamics M1A1 Abrams.

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Honeywell: US Turbo Market To Double By 2019

Once the biggest thing in the auto industry in the 1980s, turbocharging is back and screaming for vengeance, with the United States market expected to see double the boost pressure over the next five years.

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Coolant In Daimler-EU Dispute Found Safe

An automotive coolant Daimler claims is too dangerous to use in their vehicles, despite the warnings from the European Union to cease usage of an older coolant considered harmful to the environment, was found to be safe according to a report made by EU scientists.

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Daimler Appeases EU Over Refrigerant. Zetsche Declares "S-Class For Our Time"

Daimler and Volkswagen reached an agreement over an air-conditioning refrigerant that Daimler claimed was flammable and extremely hazardous to one’s health.

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  • Lou_BC Ironic, the Honda Ridgeline, a truck that every truck guy loves to hate is in 6th place.
  • 28-Cars-Later I keep forgetting I own it, but the space look on the ext cab reminds me of my 'Yota pickup of the same model year. I'm pretty sure there is some vintage of Hilux which features the same looking ext cab window (maybe '88?) its a shame these things are mostly gone and when available are $1,000,000,000 [INSERT CURRENT CURRENCY].
  • Sayahh Imagine if Ford had Toyota design and build a Mustang engine. It will last over 300k miles! (Skip turbo and make it naturally aspirated.) Maybe Yamaha will help tune it...
  • Sobhuza Trooper Isuzu's crime was to build some damn good trucks.Shame on them.
  • El scotto Listen, unless you were Lord Headly-Stempmoor or such when you got off the off the boat, boot in Canada, you got the short end of the stick. People got on the boat, these days a plane, to escape famine, becoming cannon fodder in yet another stupid war, or the government thought it was A-OK to let soldiers kill you. Juneteenth is just a way to right one of the more bad ideas in the American experiment. Instead we have commenters who were buying tater chips and diet soda at Wal-Mart and got all butt-hurt because they heard someone who wasn't speaking English. I'm going to go fix a couple of frankfurters with salsa and guacamole and wash them down with a lager or three