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McLaren managing director on leave, not expected in Geneva
Fri, 01 Mar 2013McLaren Automotive's U.S.-born managing director, Antony Sheriff, is expected to be absent from the launch of the P1 hypercar at Geneva next week because he is on extended leave from the company. No reason for Sheriff's absence has been given, although McLaren is at pains to point out that he is “still employed as McLaren Automotive's managing director.” Rumors were circulating about Sheriff's absence from Woking in January, but company spokesmen back then stressed that he was still employed by McLaren and would unveil the P1 at Geneva. Despite those assurances, sources had reported earlier in the year that Sheriff “hadn't been seen in his office” for some days.
Saab says it will restart production after securing short-term loan
Mon, 02 May 2011Saab aims to restart production within a week after its owner, Spyker Cars, secured a 30 million euro ($44.7 million) short-term loan to help ease its cash crunch. Spyker said it will borrow the money from Gemini Investment Fund in a convertible loan agreement with a 6-month maturity. The interest rate of the loan is 7 percent a year and the conversion price is 4.88 euros per share.
1884 De Dion Runabout sells for $4.62 million at RM auction
Mon, 10 Oct 2011Two weeks ago we told you about one of the world's oldest running motor cars going up for auction in Hershey, Pa. That car, the 1884 De Dion Bouton Et Trepardoux Dos-A-Dos Steam Runabout, sold on Oct. 7 for more than double its estimated price--a cool $4.62 million.