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Saab gets approval for voluntary reorganization on appeal

...and Victor Muller smiles Victor Muller never says die, and the news that Saab has, after all, been granted the right to court protection from its creditors for a period of reorganisation has vindicated his stubborn refusal to give up on Saab. The Court of Appeal in Gothenburg has this morning overturned an earlier judgement by the District Court in Vänersborg which rejected Saab’s application to get the court’s protection during a period of ‘reorganisation’, which you can read as ‘Waiting for the dosh to arrive from China’. The news last week that Rachel Pang – a director of Pang Da, one of Saab’s putative investors – has come out in a very bullish way about the prospects for the investment by Pang Da and Youngman getting the final rubber stamp from China’s NDRC in Beijing won’t have harmed Saab’s case one bit.

Ferrari P540 Superfast Aperta (2009) first pictures

A bespoke Ferrari built by the Italian supercar manufacturer's secretive Special Projects department has undergone its first shakedown test at the Fiorano test track. The Pininfarina-designed P540 Superfast Aperta was comissioned in 2008 by the necessarily wealthy Edward Walson, son of John Walson, the inventor of cable television. Based on the 599 GTB Fiorano, the one-off machine was inspired by a Carrozzeria Fantuzzi-designed model featured in the 1968 Fellini film Toby Dammit. 'I had always dreamed of designing sports cars,' said Watson. 'When I saw this film the decision came of its own accord: one day I would have 'my' Ferrari.

July 15: Bars and potholes

Last night I wound up leaving the office around midnight. With traffic finally cleared off the Santa Monica Freeway I flew down the road at between 105 and 115 km/hr. That's 65 to 71 mph.