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Land-speed racer Bill Warner dies from motorcycle crash at 285 MPH

Motorcycle land-speed record holder Bill Warner died yesterday after crashing during an attempt at setting another record. The 44-year-old was clocked at 285 miles per hour on the runway of a former air base in northern Maine, before he lost control of his modified Suzuki Hayabusa motorcycle and veered off the runway.
It is not known what speed he was traveling when things started to go wrong and unclear what caused the crash, which happened shortly before 10:00 AM. Warner's crew suspect there were mechanical difficulties on his last run, in addition to a slight breeze, according to the video news report. Warner was conscious and able to speak after the crash but died an hour and 15 minutes later at a hospital in Caribou. The event and runway were closed for the rest of the day as police investigated the incident.
Warner was participating in "The Maine Event" at Loring Air Force Base in an attempt to reach 300 mph in one mile. Warner's best land-speed record, set in 2011, was 311.945 mph in 1.5 miles on the same runway, according to the Loring Timing Association, a record that still stands today for open-cockpit motorcycles. After that run, Warner said the scariest part was stopping the bike before the end of the runway. Be sure to check out the video news report after the jump.

Volkswagen forced to sell stake in Suzuki

The six-year-long failed marriage between Volkswagen and Suzuki has finally come to an end. Almost. An arbitration panel in London issued its final verdict which, according to a VW press release, cleared Suzuki in terminating the agreement, so VW now needs to get rid of its 19.9-percent share. However, the tribunal's decision said VW performed all of its obligations and Suzuki didn't – the Japanese carmaker should have given VW last-call rights for a delivery of diesel engines, but failed to. The breach opens Suzuki up to damage claim, but so far VW only says it reserves the right to sue. Now that Suzuki has an outside investor to provide funds it meant to get from VW, perhaps both can get back to their reasons for being. The press release is below. Ruling in arbitration proceedings: Cooperation between Volkswagen and Suzuki deemed terminated - Arbitral tribunal confirms Volkswagen met contractual obligations and finds that Suzuki has ordinary right to terminate agreement based on reasonable notice - Volkswagen to dispose of its 19.9 percent stake in Suzuki and expects positive effect on Company's earnings and liquidity from transaction - Arbitrators also find that Suzuki breached its contractual obligations to Volkswagen under the agreement and that Volkswagen has right to claim damages Wolfsburg, 30 August 2015 - An arbitral tribunal in London has announced its ruling in the dispute between Suzuki Motor Corporation and Volkswagen Aktiengesellschaft. As a result, cooperation between the two parties is deemed terminated. The arbitrators confirmed that Volkswagen met its contractual obligations under the cooperation agreement and found that Suzuki has terminated the agreement upon reasonable notice. Volkswagen will therefore now dispose of its 19.9 percent stake in Suzuki and expects a positive effect on the Company's earnings and liquidity from the transaction. The arbitral tribunal also confirmed that Suzuki breached its contractual obligations to Volkswagen under the agreement and that Volkswagen has the right to claim damages. "We welcome the clarity created by this ruling. The tribunal rejected Suzuki's claims of breach and found that Volkswagen met its contractual obligations under the cooperation agreement. Nevertheless, the arbitrators found that termination of the cooperation agreement by Suzuki on reasonable notice was valid, and that Volkswagen must dispose of the shares purchased.

Court approves Suzuki bankruptcy plan

Suzuki has won approval for its Chapter 11 plan to stop selling cars in the US and concentrate instead on the company's powersports products. Judge Scott C. Clarkson of the US Bankruptcy Court for the Central District of California approved the plan after the company's creditors agreed to the conditions.
Suzuki will now sell its motorcycle, ATV and marine divisions to the newly minted Suzuki Motor of America subsidiary under the Suzuki name. The new company will be wholly owned by Suzuki Motor Company. This is the final piece of the company's restructuring puzzle.
The company says it will now be able to grow its powersports businesses here in the US and also provide auto parts and service to current Suzuki owners through what's left of the company's dealer network. You can check out the brief press release on the bankruptcy plan below.