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If VW defaults on loans it may sell Bentley or Lamborghini

If something goes catastrophically wrong with Volkswagen Group's recent $21 billion loan, brands like Bentley or Lamborghini could hit the auction block. According to two insiders to Reuters, the beleaguered German automaker agrees with its creditors to sell assets if the company somehow can't pay back the debt in a year. One of these anonymous people claimed the company hasn't yet deliberated over what to sell. However, the sources were willing to speculate that the power engineering portion of Man could be among the first to go. "Volkswagen may also consider divesting luxury car brands Bentley and Lamborghini or motor bike brand Ducati, although these units don't really move the needle," an insider said to Reuters. VW Group negotiated with the banks earlier this week to get the massive loan. The cash is necessary as a buffer in case the automaker doesn't have enough money on hand to repair vehicles or settle upcoming fines. VW would reportedly issue bonds in the spring to begin paying the debt. The company's bills will start racking up quickly in the new year. German authorities mandate a recall there in early 2016, and repair campaigns in the US for the 2.0- and 3.0-liter diesel engines are inevitable. There are also hundreds of class-action lawsuits to settle. The company needs to resolve its CO2 emissions scandal in Europe, too. In response to these financial threats, VW management created a cost-cutting plan to slash the research and development budget by $1.1 billion next year.

Ian Fleming's Bentley R-Type rediscovered in an L.A. garage

James Bond creator Ian Fleming commissioned a left-hand-drive 1953 Bentley R-Type Continental Fastback in Deep Grey with black Connolly leather as a gift for his American friend Ivar Felix Bryce. Fleming's choice of that car was probably no accident: Bond drove an R-Type Continental in the book Thunderball – one he bought as a wreck and restored, and he had it done up in gray with black leather. In Skyfall, this is the car that would have been behind that garage door. Gullwing Motor Cars recently discovered the real-life car wasting away in a garage in Hancock Park, Los Angeles for nearly 30 years. Bryce was Fleming's inspiration for CIA agent Felix Leiter in the Bond books. The US agent showed up in six installments in the series starting with Casino Royale, bowing out in The Man with the Golden Gun. Just as cool as the Fleming/Bond connection is this car's connection to the Bentleys of today. This was the "Speed" of its time, and like Continental GT Speed of one today, it was the fastest production four-seater in the world. A review of the time said, "it is difficult to put into words the gulf that separates a Continental from the average car in all the qualities that have a bearing on safety at speed." And you can see where those outboard lights on today's Bentleys come from. The Continental designation signified a power upgrade over the standard R-Type, and Fleming built it up with extras like rear spats, lightweight seats, fitted luggage, and a racehorse mascot. The Bryces flew their gift around the world to their various homes in England, Nassau, New York, and Vermont. After they sold it the coupe had several owners, ending up in the hands of a Beverly Hills surgeon in 1978, and according to Gullwing it's been sitting in a garage almost since that time. It has matching numbers and the original interior, and Gullwing says, putting it mildly, it is "an ideal restoration candidate." The asking price is $1,495,000, which is quite the premium for pedigree. Hagerty values a pristine example at $1.4 million, and two recent pristine examples have been sold by RM Auctions for $1.2M and Bonham's for $822,000. This Fleming car one went to auction at Pebble this year with an estimate of $1.4M - $1.8M but didn't sell, so don't be afraid to ask a few hard MI6-like questions about it if you're interested.

Bentley's hosting a dog party — especially if your dog is named Bentley

The following story illustrates why there'll always be an England: At the veddy British road circuit/estate called Goodwood two hours south of London, ultimate British car company Bentley will host … well, two dog-day afternoons celebrating dogs and their owners and featuring special treats for dogs named Â… well, Bentley.  The affair on May 20-21, described as “a grand celebration of all things dog,” is formally part of the annual "Goodwoof" festival. Owners of Bentleys (car or dog) will gain access to Bentley's VIP area, and a fleet of Bentayga luxury 4x4s will provide “extra bark and growl to a range of activities that will give dogs and their human friends a wonderful weekend – or a great Dane out.” Oof. So, all dogs are welcome, but itÂ’s more fun if you chauffeur your dog named Bentley to the party in a Bentley. Both driver and pet will be granted access to the Bentley Barking Paddock, a car park just for them with easy access to “The Kennels,” the West Sussex estateÂ’s central clubhouse. (Preferential parking alone may mean some dogs with other names will find themselves temporarily answering to "Bentley" that weekend.) The dogs will compete in some dog-ish contests. Humans will watch field and trail demonstrations and hear talks from dog experts and celebrity owners. Bentleys (the cars) will somehow play a role in herding competitions. Of course, thereÂ’ll be “plenty of treats for those on both two and four legs,” the organizers say. On the first day, a celebratory "parade of poodles," led by Goodwood's the Duke of Richmond, will take center stage on the estate grounds. Also planned is a display of doghouse architecture named, um, Barkitecture. And a photo booth will be set up in a Bentayaga for “pup-arazzi” souvenir pictures. Goodwoof benefits a British charity called Pets as Therapy.  ThereÂ’s more info for planning a trip here.