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Dany Bahar wants £6.7 million compensation from Lotus
Tue, 28 Aug 2012The Dany Bahar saga at Lotus continues with Bahar claiming £6.7 million compensation for his firing as Lotus CEO. Back in May, ex-Ferrari man Dany Bahar was ousted as CEO of Lotus, confirmed a month later by Lotus parent DBR-Hicom who appointed Aslam Farikullah – an engineer, not a marketing man – to oversee a way forward for Lotus, and just last week Lotus put Bahar’s custom Esprit up for sale. But that appears not to be the end of dealings between DBR-Hicom and Bahar as Bahar has issued proceedings against his former employers seeking compensation of £6.7 million for wrongful dismissal.
Chevy Volt, other key GM vehicles remain on track, new product boss says
Thu, 07 May 2009The Chevrolet Volt remains on track to hit the market in late 2010--and General Motors is still going to invest in developing key products--despite its financial troubles, a top executive said Thursday. The Volt and other new GM vehicles, such as the Cadillac SRX, the Buick LaCrosse and the Chevy Equinox, remain top priorities--even though the company lost $6 billion in the first quarter of this year and is surviving on government loans. "Great cars and trucks are the only thing.
Pininfarina family to lose control of company
Wed, 15 Feb 2012The Pininfarina family is set to lose its controlling share stake in the company as it takes a step closer to restructuring its €76 million net debt. The Italian design firm, founded in 1930, has been plagued with debt in recent years, shutting its manufacturing branch in 2011 to concentrate purely on design, ending a joint venture with Volvo that saw the company assemble Volvo's C70. The move is seen as a positive one for the company in the long-term, making it more financially secure for future developments, but it also means that the Pininfarina family will lose control of the company by selling its 77 percent share.