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redstone

NASA, Chrysler to share advanced-tech ideas

Chrysler Group and NASA today announced an alliance to share information related to advanced technologies.

Several topics being considered for the three-year collaboration include: materials engineering, robotics, radar, battery systems, and other energy storage mediums.

"This is a great opportunity to share knowledge and data in areas where both Chrysler Group and NASA have a vested interest," Senior Vice President, Chrysler Engineering Scott Kunselman said in a news release. "We value the opportunity to work with NASA and will implement what is learned to further improve our Chrysler, Dodge, Jeep and Ram Truck products."

This isn'… Read more

Report: Redstone to sell Midway Games stake

National Amusements, a media and entertainment company controlled by Sumner Redstone, is expected to announce on Monday that it sold its majority stake in Midway Games, according to a report in The Wall Street Journal.

Redstone reportedly sold the 87 percent stake to investor Mark Thomas, in exchange for $100,000 and the assumption of $70 million in secured and unsecured debt.

The transaction, while expected to result in a loss in excess of $800 million for Redstone, is expected to yield a substantial tax break for the media and entertainment investor, according to the Journal.

And for Redstone, that … Read more