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Rowland Heights, California, US
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Irwindale, Kern County tracks coming back
Thu, 27 Dec 2012Two paved circle tracks in Southern California should be up and racing by spring, good lord willing and the creek don't rise. The two facilities plan to cooperate in order to maximize the chances of success. Irwindale Speedway, now officially to be referred to as The Irwindale Event Center, had no races on its oval tracks in 2012 after the former track operators filed for Chapter 7 bankruptcy in February.
Car Design China Award Winners at Umeå
Thu, 08 Nov 2012CDN 中国汽车设计大赛获奖选手在 Umeå Two of the Car Design China Award 2012 winners won the fantastic prize of a two-week fully funded placement at Sweden's Umeå Institute of Design to mix with like-minded young designers and learn new skills with some of the latest technology available. We spoke to Umeå's Programme Director for Transportation Design Education Demian Horst to find out how Fang Siyuan of Zhengzhou University of Light Industry and Huang Hongliang of Huazhong University of Science and Technology got on. After arriving on 21 September the two students joined up with the course's 20 international students – including two Chinese students – in the studio before undertaking their first task, which was to join both transport classes in a sketch workshop with BMWDesignworksUSA designer and Umeå alumnus Tommy Forsgren.
Saab unable to pay wages as financing crisis deepens
Fri, 24 Jun 2011Saab'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.