Nascar Roush Pit Crew Racing Embroidered Race Jacket Roush Exclusive Size L on 2040-parts.com

Saab unable to pay wages as financing crisis deepens

Saab's money troubles have worsened to the point that the struggling car maker is unable to pay its employees' wages on the eve of the Swedish mid-summer vacation period.In a brief official statement last night, Saab's parent company Swedish Automobile N.V (formerly Spyker Cars) announced that it was 'will be unable to pay the wages to employees as it has not yet obtained the necessary short-term funding.'  While Swedish Automobile and Saab continue to pursue options for securing short-term financing to solve the cashflow crisis, the company admitted 'there can however be no assurance that these discussions will be successful or that the necessary funding will be obtained.' Saab share prices tumble, Swedish government will not intervene Reaction to the worsening financial crisis from stakeholders has been predictably bleak. Swedish Automobile's shares dropped 61% in value yesterday, and are currently trading at 0.948 euro. The Swedish government, already guaranteeing a €400m loan to Saab by the European Investment Bank, shows no inclination to bail-out Saab, which employs 3800 staff.

Sergio Marchionne wants to build Mazda in Fiat & Chrysler plants

Fiat boss Sergio Marchionne wants to build Mazda cars in Fiat and Chrysler plants around the world. When Alfa Romeo and Mazda revealed last week that they would be developing a new small roadster together – well, Alfa Romeo would take the next generation MX-5 and sculpt on a new body to make a new Alfa Spider – we suggested Mazda would be better of getting Fiat to build their cars. It seems Fiat boss Sergio Marchionne thinks the same.

Concept Car of the Week: Mercedes-Benz VRC (1995)

The question of automobile versatility has been a real challenge for decades. Nowadays, car manufacturers keep coming up with hundreds of new segments, sub-segments, crossovers, and crossovers of crossovers... Most of them end up Jack-of-all-trades, master of none.