Video: 1988 Mercedes-Benz 560 SEC AMG is period gangsta

Filed under: Classics, Coupe, Performance, Videos, Mercedes-Benz, Luxury

Electric Federal 560 SEC AMG video

Lord Vader comments aside, this is a seriously mean looking Mercedes-Benz. Owned by designer Kahren Arakelyan, this 560 SEC has been breathed upon by AMG, and has had its 5.6-liter V8 bored out to a nice, even 6.0 liters (which we suppose should make it a 600 SEC AMG). The AMG treatment has turned this old SEC into a quick, menacing beast.

The video, by Electric Federal, provides a different look at the predecessor to today’s CL-Class, and what it means to Arakelyan, an Armenian that discusses growing up in his homeland, surrounded by Ladas until his dad came home in a legendary Mercedes sedan – the 450SEL 6.9. The “over-engineered” Benz was like nothing the young man had ever seen before.

Arakelyan’s passion for Mercedes was born from that experience, and came with him when he arrived in the United States. In the video, he gives a pretty thorough walk-through of his SEC, while fans of engine noise can listen to the intermittent bursts from the 6.0-liter AMG V8. Scroll down for the full video.

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1988 Mercedes-Benz 560 SEC AMG is period gangsta originally appeared on Autoblog on Mon, 26 Aug 2013 19:30:00 EST. Please see our terms for use of feeds.

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Report: SEC says ex-Delphi CEO Batterberg misled investors

Filed under: Government/Legal

Delphi LogoAccording to the Detroit Free Press, the Securities and Exchange Commission has accused former Delphi CEO J.T. Battenberg III of intentionally working to hide his company’s financial situation from investors. On Tuesday, an SEC lawyer told the jury in Battenberg’s trial that the ex-Delphi boss made the company’s financial numbers look better than they were in order to secure larger bonuses. The SEC sued both Battenberg and Paul Free, the former Chief Accounting Officer for Delphi, and several other former executives in 2006 for fraudulent accounting. Delphi entered into bankruptcy protection in 2005.

U.S. District Judge Avern Cohn began hearing the evidence against Battenberg, Free and other executives in October, and closing arguments in the case wrapped up on Tuesday. So far, two executives and the company’s former treasurer have agreed to settle with the SEC over allegations that Delphi improperly reported a settlement that the company made with General Motors. Both Battenberg and Free remain as defendants in the case.

[Source: Detroit Free Press]

Report: SEC says ex-Delphi CEO Batterberg misled investors originally appeared on Autoblog on Wed, 05 Jan 2011 18:28:00 EST. Please see our terms for use of feeds.

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Tesla SEC filing reveals Model S has 3,000 deposits

Filed under: Sedan, Government/Legal, Hatchback, Earnings/Financials, Tesla, Electric

Tesla Model S SEC filing page

In an 8-K filing posted with the U.S. Securities and Exchange Commission yesterday, Tesla Motors revealed that, by the end of the third quarter, it had already lined up 3,000 buyers, each of whom has coughed up $5,000 required to reserve the automaker’s long-promised Model S. Additional information mentioned in the report suggests that the Model S will eventually obtain a five-star safety rating, feature more cargo room than any other sedan on the market and be designed to accommodate battery-swap technology.

The SEC filing details Tesla’s numerous deals with other automakers, which are briefly outlined below:

  • Tesla received an initial order for 1,500 lithium-ion battery packs for the Smart ForTwo ED
  • Tesla anticipates selling 500 lithium-ion battery packs to Daimler for use in the Mercedes-Benz A-Class electric.
  • The automaker’s cumulative sales to Daimler topped the $12-million mark earlier this year.
  • Tesla expects revenue of $60 million for its part in developing components for the Toyota RAV4 EV.

To read Tesla’s 8-K SEC filing, which is jam-packed with graphics that detail the automaker’s intentions, click here.

Gallery: Tesla Model S

[Source: Securities and Exchange Commission via Tesla Motors]

Tesla SEC filing reveals Model S has 3,000 deposits originally appeared on Autoblog on Sat, 18 Dec 2010 10:33:00 EST. Please see our terms for use of feeds.

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Former Car Czar Rattner settles with SEC, sued by Cuomo

Filed under: Government/Legal

Steven Rattner

Former White House Auto Industry Task Force member Steven Rattner is being sued by New York State Attorney General and Governor-elect Andrew Cuomo for allegedly paying kickbacks to win investments in the state’s pension fund.

Cuomo is seeking $26 million from Rattner, and to bar him from trading securities in New York for life, an agreement that might hamstring Rattner if he can’t do securities work in New York any longer.

Rattner, who recently penned a book about his time on The Obama task force (“Overhaul,” [Houghton-Mifflin-Harcourt, 2010]) that guided General Motors and Chrysler through bankruptcy, already settled a related case against him brought by the Securities and Exchange Commission, which brought a civil lawsuit against the private equity executive and former New York Times reporter.

Rattner’s former investment firm, Quadrangle, settled with New York State and the SEC last April, which was accompanied by a statement by Quadrangle saying Rattner’s conduct was “inappropriate, wrong and unethical.” Quadrangle agreed to pay $7 million to Cuomo and $5 million to the SEC without admitting or denying wrongdoing.

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Former Car Czar Rattner settles with SEC, sued by Cuomo originally appeared on Autoblog on Fri, 19 Nov 2010 17:31:00 EST. Please see our terms for use of feeds.

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