T04 .63ar 400hp+11pc Turbo Charger+ram Horn Manifold+intercooler Kit For D15/d16 on 2040-parts.com
Rowland Heights, California, United States
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Saab unable to pay wages as financing crisis deepens
Fri, 24 Jun 2011Saab'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.
Toyota recalls 2011 Tundras for drive-shaft safety issue
Tue, 26 Apr 2011Toyota is voluntarily recalling about 51,000 copies of the 2011 Tundra pickup to screen for a rear drive-shaft issue. Improper metal casting could cause part of the shaft to break, Toyota said. So far, Toyota is aware of one such occurrence in a customer-owned vehicle.
Design Development: Kumho Epoch concept
Mon, 19 Nov 2007The Epoch project is a concept you wouldn't normally expect from a tire manufacturer. Inspired by the company's success in this year's Le Mans 24 hour race, Kumho decided to employ its conceptual abilities to create their version of an environmentally-friendly Le Mans car of the future. Designed around innovative tire technology, the 'blue sky' Epoch eco-friendly racing car is the first in a series of concept vehicles set to be developed by Kumho over the next few years.