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Suzuki has to take out $45M loan just to shutter US dealers

Bloomberg reports American Suzuki is set to borrow up to $45 million to to close its automotive dealerships and freshen up its it motorcycle and marine business. Suzuki Motor Corporation will loan American Suzuki the funds at three percent below the London Interbank offered rate in order to offer dealer owners a cash payment in exchange for voluntarily abandoning franchise agreements. The company's 216 dealers have 10 days to make a decision on the matter. Under the plan, Suzuki would give dealer owners half of what they're owed in one lump sum, and the dealers would then be able to pursue the remaining debt through the company's bankruptcy procedure.
U.S. Bankruptcy Judge Scott C. Clarkson granted American Suzuki interim authority to borrow the funds, but Bloomberg reports the company will likely return to court in a few weeks to seek up to $100 million. According to Richard Pachulski, a lawyer for Suzuki America, the automaker may owe its dealers somewhere around $50 million.

DAMD Little D kit makes the Suzuki Jimny look like a little Land Rover

When the new generation of the Suzuki Jimny debuted, it drew plenty of comparisons. Mercedes-Benz G-Class, Jeep Wrangler, Toyota Land Cruiser, etc. Pick an old-school-styled boxy off-roader, and it would probably work. But one Japanese Tuner is taking the lookalike comparisons to the next level, focusing on one of the most iconic off-roaders of all time: the Land Rover Defender. DAMD Inc., the tuner that also created a body kit to make the Toyota 86 sports car look like the Lexus LFA supercar, is developing a styling kit that makes the Jimny go full Defender. We can't lie, as much as we love the regular Jimny, this looks pretty damn cool, as well. While the public waits for Jaguar Land Rover to launch the next-generation Defender, this imposter will have to do (for people outside the U.S.—the Jimny is still not available here). The nose alterations make the resemblance impossible to ignore. It adds another headlight dimple for the signature trio and has "LITTLE D" lettering above the grille, which ditches the Wrangler-like vertical slats for horizontal bars. It also adds a beefier front bumper with a more prominent skid plate. The mudflaps, knobby tires and off-roady wheels, bare spare tire, and the angled rear bumper complete the look. The rest of the similarities are already part of the Jimny. The boxy body, the wheel flares, and the roof cap are part of the standard model. Beyond the images, there is not much information on the kit. There's no price, but DAMD notes it is scheduled to release in 2019. That gives us just enough time to move out of the country and order a Jimny. Related Video:

Which automaker's 84-year-old CEO is making investors nervous?

We haven't heard much about Suzuki since it decided to leave the US market in 2012, but things are going well for the little automaker these days with the recent announcement of record annual profits. It would seem that investors should be ecstatic, but they are starting to question the man at the helm. Company president and chairman Osamu Suzuki is now 84 years old and is guaranteed at least one more year as the leader, but shareholders want to know who is taking his place when the inevitable happens.
We're not being ageist, here. As long as the Suzuki can run the company to the satisfaction of investors, he absolutely deserves the top spot. According to Bloomberg, the issue making shareholders so edgy is that the business doesn't have a transition plan in place. The president obviously isn't a young man, and folks are worried that if something happens suddenly, there could be chaos deciding a successor and a free-falling stock price.
Suzuki's tenure at the company is somewhat astounding. He married the granddaughter of the founder and took her name because the family had no male heirs. In world where many people hope to retire as soon as possible, he's worked for the same automaker for the last 50 years, including stints as company president from 1978 to 2000 and 2008 to the present. Investors aren't questioning the president's ability as a business leader; they just want a clearer understanding of the automaker's future direction.