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. (Read More…)

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.

(Read More…)

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.

(Read More…)

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.

(Read More…)

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

(Read More…)