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Saab: China’s Youngman submits new $2 billion offer

Youngman is committed to acquiring Saab The founder of China’s Youngman - Pang Qingnian – has revealed Youngman submitted a $2 billion offer to buy Saab from the administrators on 14th February. We’ve all seemingly written-off Saab as dead and buried; a once proud marque consigned to the scrap heap of history after the debacle of GM ownership and Victor Muller’s ill-fated battle to make Saab an in dependent marque. But there’s one man who hasn’t given up hope of securing a future for Saab, and that man is the Chinese billionaire founder of Youngman, the company which has already spent significant sums trying to acquire Saab, but has so far been thwarted by GM’s golden bullet.

Why Steve McQueen canceled a $3 million life insurance policy

Spurred by the story of our ride in Steve McQueen's Jaguar XKSS, Richard Haight felt inclined to chime in with the fact that he not only raced motorcycles with (and against) McQueen, but knew him all the way until the King of Cool's death. Haight raced motorcycles on and off for 50 years. McQueen would come and race at the local American Motorcycle Association District 37, usually entering under assumed names like "Harvey Mushman" to enjoy some semblance of normality.

Hyundai lures Toyota's Michael O'Brien to head U.S. product planning

Hyundai named Michael O'Brien vice president of product and corporate planning--an influential position that has been vacant since John Krafcik became CEO in late 2008, the company announced on Tuesday. O'Brien, 55, spent the last 14 years at Toyota Motor Corp.'s U.S. sales division as a manager within the corporate planning division.