Tesla Voted Top 2013 Model and 1 Auto Stock Making Headlines Now
Tesla Motors, Inc. (NASDAQ:TSLA): Yahoo Auto chose Tesla’s Model S as its 2013 model year car of the year, claiming that the all-electric car that is produced at Tesla’s Fremont factory is a “futureshock of an electric sedan.” After it test-drove over 100 cars, the news website praised the Model S’s “instant torque,” its composed turning capabilities and low center of gravity, and ample frunk (front trunk) and trunk space. Additionally, Yahoo even called the car “practical,” although it has a cost of over $60,000.
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A123 Systems, Inc. (NASDAQ:AONE) revealed in a regulatory filing that it and Johnson Controls (NYSE:JCI) amended the provisions of their DIP loan agreement relating to the maturity date of the loan on October 30. As amended, the DIP loan agreement matures as soon as November 8, unless the United States Bankruptcy Court for the District of Delaware entered a final order that approves the DIP Loan Agreement and the bidding procedures that were previously revealed; or 34 days following October 16 if an auction concerning the purchase of the company’s assets that did not begin by such date; or 36 days after October 16 if the Auction has not been completed by such date; or 41 days after October 16 if an order approving the sale discussed below is not approved by such date; or December 31. The amendment lengthens the earliest date for the maturity of the DIP loan agreement was necessary due to the hearing about the Bankruptcy Court’s approval of the final orders with respect to the DIP loan agreement and the sales procedures order was postponed from October 30 to November 5 because of the closure of the US Bankruptcy Court as a result of Hurricane Sandy.