A123 Systems, the Bay State battery maker that received millions in government grants, has filed for bankruptcy. The Waltham-based company sought Chapter 11 bankruptcy protection today after failing to make a debt payment that was due yesterday. A123 Systems listed about $460 million in assets and $376 million in debt in the filing in U.S. Bankruptcy Court in Delaware. “The company may not have sufficient cash to fund operations,” the company warned in a filing with the U.S. Securities and Exchange Commission. A123 Systems — which makes high-tech batteries for electric cars with technology developed at MIT — received nearly $250 million in federal grants to build a factory in Livonia, Mich., with the promise to create some 38,000 U.S. jobs. The company also received a $5 million loan from the Patrick administration to expand in Massachusetts. Read more
I’m looking for someone to write automotive technical articles for the site, and contribute original content. This is a non-paying position (really, zip, zilch, nada), if you are interested, please submit a sample of your work, or where your work can be seen here.
Vaughn Gittin, Jr. is a professional drifting champion. The Ford Mustang is a muscle car that is built in Flat Rock, Michigan. This is what happens when you put the two together. Just like Ken “From The” Block, Gittin is sponsored by Monster Energy. That means his contract probably stipulates that he has to participate in at least one gymkhana-esque event. For his driftravaganza, Gittin took a 2013 Mustang off the assembly line and proceeded to drift it around other Mustangs at the Flat Rock plant as part of a “comprehensive track test.” It indeed is comprehensive, and he only hits a couple other Mustangs along the way. Thanks Jalopnik!
Just snapped this a minute ago. I need to get a new carpet kit to cover the factory shifter hole, and aside from a radio, the interior will pretty much be done. At least until I decide to cage it and it all has to come apart again. The shifter is mounted on a quick and dirty floor pedestal that puts it in the perfect location for my reach and clears the under-dash with about 3/4″ to spare. Read more