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Saab gets approval for voluntary reorganization on appeal
Wed, 21 Sep 2011...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.
Official photos of the new 2012 Volvo V40 leak out
Wed, 22 Feb 2012The new Volvo V40 arrives The new Volvo V40 – dues to debut at the Geneva Motor Show – has leaked ouy early from a Polish Facebook page. We has what looked like the first photo of the new Volvo V40 a week or so ago, but we now have what is undoubtedly the first official photo of the 2012 V40 ahead of its debut at Geneva in a couple of weeks. Looking a bit like a cross between the C30 and the V60, the V40 is a good looking car.
GM pays back government loans
Wed, 21 Apr 2010General Motors Co. said it has repaid the U.S. and Canadian governments $5.8 billion for loans that helped fund the U.S.