Cobra Xrs-9430 12-band Radar/laser Detector on 2040-parts.com

Saab files for reorganization, seeks $1 billion to survive

Saab is seeking $1 billion (793 million euros) to be self-financing, the company said on Friday after it filed for reorganization under a self-managed Swedish court process. The General Motors-owned Swedish brand said it will work "to create an independent business entity" and will concentrate production, design and engineering in Sweden. Saab said it would continue to operate as normal during the reorganization process, with GM and the Swedish government providing some support.

Former Saab executives arrested in accounting-fraud probe

Three former Saab executives, including former CEO Jan-Aake Jonsson, were arrested Monday on suspicion of “grave attempts to complicate tax controls” during 2010 and 2011, according to a report from Bloomberg. The Swedish Economic Crime Authority's chief prosecutor, Olof Sahlgren, declined to give the names of the arrested, but Bloomberg confirmed in court documents that Jonsson, former chief financial officer Karl-Gustav Lindstroem and formal general counsel Kristina Geers were detained. “It's about accounting measures to complicate the control operations of the tax authority regarding the calculation of taxes and fees,” Sahlgren told Bloomberg.

Peugeot SXC concept car (2011) first official pictures

Peugeot will show this SXC crossover concept at next week’s 2011 Shanghai auto show. It’s a large hybrid 4x4 designed in Peugeot’s Chinese styling studio and shows a few pointers for how a future crossover could look. We’ll take that to mean the next 4007 then.