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American Suzuki gets $100M in financing to go out of business... buy more cars?

American Suzuki Motor Corporation (ASMC), which declared bankruptcy in early November, has been approved by the courts for up to $100 million in debtor-in-possession financing to enable it to shutter its US car business. ASMC had received a $45 million loan from the Japanese parent company, Suzuki Motor Corporation (SMC), last month in order to make repayment deals with its franchise dealers. At the same time, ASMC was awaiting final court approval of this larger loan.
Out of the newly approved funds, $50 million can be used for operations, and oddly, the other $50 million can be put toward purchases of new inventory from SMC. That's right, even as existing inventory was headed for a smooth exit with the help of incentives, customer demand for orphan Suzuki models is so strong - last month's sales were up 22 percent compared to 2011 - that ASMC plans to purchase 2,500 additional cars from SMC that were built after the bankruptcy announcement. Good news for the owners of those vehicles: the top 50 dealers, representing more than 98 percent of ASMC sales, will become parts and services centers.
The press release below has more information. Unlike its recent tenure here, the end of Suzuki cars in the US looks like it's going rather well.

Motorcyclist lucky to escape with life after 100-mph crash

A motorcyclist tried to run from the California Highway Patrol in San Diego in the wee hours of February 9, but things didn't quite work out as he planned. In fact, the fleeing rider is lucky to be alive after colliding with a Kia at over 100 miles per hour during, ending, rather abruptly, the pursuit. The video on The San Diego Union-Tribune below shows the collision, but you might need to watch it a few times to see what happens. The bike shoots by in a flash, and then there are suddenly sparks when the cycle hits the rear of the car. Watch the left side of shot to see the rider standing by the median after the crash. Police quickly arrive to the scene to apprehend him. The guy is wearing a helmet but understandably appears to be in pain after the high-speed accident. The crash ripped the front end off the rider's Suzuki, but the Kia's driver wasn't harmed – though clearly shaken. According to the San Diego Union-Tribune, police took the motorcycle rider to the hospital to treat undisclosed injuries. What's Now: A motorcyclist going at least 100 mph slammed into the back of a car on I-805 early this morning. Remarkably, he was left standing on his own two feet before being arrested. Story: sdut.us/1TaOjDM Posted by The San Diego Union-Tribune on Tuesday, February 9, 2016 Related Video:

Junkyard Gem: 1998 Suzuki Swift, Schnorchel Edition

To enable the use of internal-combustion engines underwater, German submarines during the later years of World War II used a pipe system swiped from the Dutch to suck in air and spit out exhaust. This rig was known as the Schnorchel, and a similar setup can be used on modern trucks to keep the engine from inhaling water or dust during river-fording or off-roading. In fact, you can buy a new Ford Bronco with a factory schnorchel (or snorkel, if you prefer the English spelling) right now. Purchasers of new Suzuki Swifts, however, had no such factory — or even aftermarket — option, and so the final owner of today's Junkyard Gem had to fabricate one using hardware-store components. Yes, this is a fully functional air-intake snorkel, made from PVC pipe and entering the engine compartment via not-so-precision holes sliced through the fender and inner fender. Once in the engine compartment, the pipe connects directly to the engine's throttle body. Sure, for serious underwater use you need to waterproof the distributor plus any sensitive electrical components, not to mention find some way to keep water from getting into transmission vents and the like. We can assume, however, that this snorkel wasn't intended for sustained underwater use. Other limitations of the Swift as an off-road machine, such as suspension design, ground clearance, and lack of four-wheel-drive, may have become apparent once the snorkel was installed. There are some wheel flares installed, to enable the use of oversized wheels and tires. The Swift is the same car as the Suzuki-built Geo Metro, which became the Chevrolet Metro starting in the 1998 model year. Known in its Japanese homeland as the Cultus, these cars were sold in every far-flung corner of the world. It appears that you could buy a new Cultus (with Margalla badges) in Pakistan as recently as a few years ago. This isn't the first interestingly modified second-generation Swift I've found in a Denver-area car graveyard in recent years. Perhaps the "Slokyo Drift" 1996 Swift was modified by the same person. There's just something about a tiny, fully depreciated car that inspires creativity. The 1998 Geo Metro was available with either a 1.0-liter three-cylinder engine or a 1.3-liter four-banger, but every new Swift sold here that year was a big-block car with the 1.3 and its 70 horsepower. This one even has the five-speed manual transmission, for added driving fun. Just 166,280 miles on the clock.