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Saab seeks court protection from creditors
Wed, 07 Sep 2011Saab is filing for protection from creditors from a Swedish district court, the automaker's owner, Swedish Automobile, said Wednesday. Saab is seeking court approval for a voluntary reorganization to secure short-term stability while it waits for funding from Chinese investors Pang Da and Zhejiang Youngman, Swedish Automobile said in a statement. Victor Muller, CEO of both Saab and Swedish Automobile, said in a statement: "We have concluded that a voluntary reorganization process will provide us with the necessary time, protection and stabilization of the business, allowing salary payments to be made, short-term funding to be obtained and an orderly restart of production to be prepared." Muller remains optimistic about Saab's future.
Autoweek contributor Patrick Paternie dead at age 65
Mon, 12 Mar 2012Longtime Autoweek contributor Patrick C. Paternie, who shared his love of cars with readers for 12 years at this publication and for 25 years with other magazines and in his many books, died on March 10 at age 65. Paternie had just finished a race in his Porsche 911 at Willow Springs and pulled into his pit area when he suffered a heart attack.
Chrysler and Lancia brands to share products in Europe
Tue, 06 Oct 2009Fiat S.p.A. aims to integrate the Chrysler brand more closely with the Italian automaker's upscale Lancia marque in Europe with the two brands likely to share products from small hatchbacks to large sedans. The appointment of Lancia CEO Olivier Francois as Chrysler brand boss is a step toward the goal, a Fiat source said.