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If VW defaults on loans it may sell Bentley or Lamborghini

If something goes catastrophically wrong with Volkswagen Group's recent $21 billion loan, brands like Bentley or Lamborghini could hit the auction block. According to two insiders to Reuters, the beleaguered German automaker agrees with its creditors to sell assets if the company somehow can't pay back the debt in a year. One of these anonymous people claimed the company hasn't yet deliberated over what to sell. However, the sources were willing to speculate that the power engineering portion of Man could be among the first to go. "Volkswagen may also consider divesting luxury car brands Bentley and Lamborghini or motor bike brand Ducati, although these units don't really move the needle," an insider said to Reuters. VW Group negotiated with the banks earlier this week to get the massive loan. The cash is necessary as a buffer in case the automaker doesn't have enough money on hand to repair vehicles or settle upcoming fines. VW would reportedly issue bonds in the spring to begin paying the debt. The company's bills will start racking up quickly in the new year. German authorities mandate a recall there in early 2016, and repair campaigns in the US for the 2.0- and 3.0-liter diesel engines are inevitable. There are also hundreds of class-action lawsuits to settle. The company needs to resolve its CO2 emissions scandal in Europe, too. In response to these financial threats, VW management created a cost-cutting plan to slash the research and development budget by $1.1 billion next year.

Instructor's death at Disney racetrack 3rd in past year [w/video]

For his 24th birthday, TaVon Watson wanted a thrill ride, so he headed to the Exotic Driving Experience track at Walt Disney World. With instructor Gary Terry by his side, Watson raced a Lamborghini around the one-mile course until he lost control of the sports car and slammed into a guardrail. Terry, 36, was killed. "It's not the kid's fault. It's a freak thing that happened," said Timothy Horvath, a Terry family friend. As for Terry, "if he thought he was in any danger, he wouldn't have done it." It was at least the third death in the past year at speedways in the US that allow customers to get behind the wheel of a fast car. Last September, an Indiana man was killed in a crash at the Rusty Wallace Driving Experience at Kentucky Speedway, and a New Jersey woman died at the Wall Stadium Speedway in New Jersey. Watson had paid under $400 for the chance to drive the Lamborghini Gallardo LP570-4 Superleggera, which sells for around $240,000. He failed to maneuver the high-powered vehicle through the course while driving about 100 miles per hour, and the passenger side struck the guardrail, according to the Florida Highway Patrol. Terry died at the scene. Watson was treated at a hospital and released. Both Watson and Terry were wearing helmets and lap and shoulder belts, said Sgt. Kim Montes, a spokeswoman for the Florida Highway Patrol. Watson doesn't face any traffic charges since the accident took place on a closed track, and there are no indications he was doing anything criminal, authorities said. Investigators from the federal Occupational Safety and Health Administration are looking into what happened. OSHA spokesman Lindsay Williams said the agency hadn't previously investigated Petty Holdings, the company that operates the track. Terry was a former racecar driver and was also senior operations manager at the tourist attraction. Working there was his "dream job," Horvath said. Watson, a hotel bellhop, didn't respond to emails or an inquiry via Facebook. He didn't have a phone listing. On his LinkedIn profile, he described himself as self-motivated, professionally mannered, humble and "a very quick learner." He told authorities he had been at the Exotic Driving Experience before. A spokeswoman for Petty Holdings wouldn't comment on whether the Lamborghini had any special safety devices like those provided in a driver's ed car, and Montes said investigators had yet to examine the Lamborghini.

LAPD now on patrol with its own Lamborghini Gallardo

Last year, the Dubai Police made news by purchasing a string of supercars to act as patrol vehicles around the city. Apparently, a generous family in Los Angeles thought that the LAPD needed to keep up with the Joneses, because they recently donated use of their Lamborghini Gallardo. Unfortunately, you won't be seeing the Italian coupe in any high-speed chases, as it's being used exclusively for display at charity events.
The Lamborghini has arrived courtesy of Nathalie and Travis Marg, proprietors of telecommunications contractor Light Source 1 Inc. They approached the force with the idea to use the supercar because "they admire what the LAPD does for the community," said LAPD Sergeant Frank Preciado to Autoblog. Galpin Auto Sports was tapped for the custom wrap to make it look like a police car, and according to Sgt. Preciado, the police force can use the car indefinitely. Importantly, the LAPD says no tax dollars have been expended on this vehicle.
The LAPD Gallardo will be on display to the public at Los Angeles County Air Show on March 21-22, and Sgt. Preciado said the police have already received many inquiries to display the car at other events. The police have even set up dedicated Twitter and Instagram accounts to promote its newest addition. Too bad it won't be catching speeders anytime soon.