1968 Mustang Fastback Original L&r Sides Roof Line Stainless Trim Molding on 2040-parts.com

Saab unable to pay wages as financing crisis deepens

Saab's money troubles have worsened to the point that the struggling car maker is unable to pay its employees' wages on the eve of the Swedish mid-summer vacation period.In a brief official statement last night, Saab's parent company Swedish Automobile N.V (formerly Spyker Cars) announced that it was 'will be unable to pay the wages to employees as it has not yet obtained the necessary short-term funding.'  While Swedish Automobile and Saab continue to pursue options for securing short-term financing to solve the cashflow crisis, the company admitted 'there can however be no assurance that these discussions will be successful or that the necessary funding will be obtained.' Saab share prices tumble, Swedish government will not intervene Reaction to the worsening financial crisis from stakeholders has been predictably bleak. Swedish Automobile's shares dropped 61% in value yesterday, and are currently trading at 0.948 euro. The Swedish government, already guaranteeing a €400m loan to Saab by the European Investment Bank, shows no inclination to bail-out Saab, which employs 3800 staff.

Saab GB goes in to administration as China deal flounders

Saab GB on administration Saab Great Britain Ltd (Saab GB) has filed for administration in the High Court as Swedish Automobile N.V. (Swan) fails to conclude a deal with China. It’s a wonder it’s taken so long.

Hottest vehicles at the SEMA Show

What's the coolest car, truck or SUV from among the 1,500 feature vehicles this year at SEMA? How would you even begin to agree on an answer? SEMA figured it out this way: they wandered through the halls and counted all 1,500 cars.