Saab gets approval for voluntary reorganization on appeal

...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.

Ferrari California Handling Speciale (2012) first pictures

This is Ferrari’s revised California, which will be unveiled at the Geneva motor show in March 2012. It’s got more power, weighs less, and can be optioned with a chassis-sharpening Handling Speciale package, all features scooped by CAR last year. The California caused quite a stir when it was launched, ushering in a whole host of firsts for Ferrari: it was the company’s first convertible with a folding metal roof; the first with a double-clutch gearbox, the first front-engined V8 Ferrari, and the first with direct-injection engine technology.

New 2013 Porsche 911 Turbo & Turbo S revealed: UPDATED with Video

This time there’s no waiting for the Turbo S to follow the Turbo, with both models on offer straight out of the gate. The 911 Turbo gets the 3.8 litre flat six with 513bhp and the Turbo S gets an even more fulsome 552bhp, enough to get to 62mph in just 3.1 seconds and on to 198mph. And, with its four wheel drive, it’ll feel even quicker in the real world.