Porsche Boxster 986 / 987 Rear Brake Calipers 996352421 996352422 (2005 Year) 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.

Bentley at the Geneva Motor Show – it’s not just cars

The Bentley Breitling Watch - on sale at the Bentley Boutique at the Geneva Motor Show It looks like Bentley are taking the whole ‘Merchandise’ thing as seriously as Ferrari do. Perhaps they decided last year – when Bentley were selling next to no cars – that shoving the Bentley logo on a range of upmarket toys was a way to bring in some much needed revenue. It was even reported at the nadir of Bentley sales that they had their craftsmen – who had nothing to do – churning out some bespoke furniture.

Detroit Electric delays SP:01 again

Detroit Electric, the new startup with an old name, said it is delaying production because it hasn't secured a lease or purchase agreement for its manufacturing facility in Plymouth, Mich. It is also talking to some new partners, though the company declined to name them. North American president Don Graunstadt told the Detroit News, “To further elaborate at this juncture is, unfortunately, not possible as Detroit Electric have entered into negotiations with other parties that have the potential to impact our business strategy and timing,” Graunstadt said.