Tekonsha 5209 Actuating Lever 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.

Walt Arfons: 1916-2013

No one seemed to know why the two brothers stopped talking, but their resulting rivalry led to some of the fastest cars ever built, two of which went more than 600 mph. Walt Arfons battled his half-brother Art on the Bonneville Salt Flats and at dragstrips across the country, but the pair rarely spoke over the course of one of the longest and most intense motorsport rivalries ever. Walt and Art started out working together, building a three-wheeled dragster in their native rural Ohio in 1952.

Porsche considers North America, China production to grow sales

Porsche may launch production in North America and China as part of a plan to double annual global sales to 200,000 units, CEO Matthias Mueller said. Mueller said the sports car maker's current German assembly plants in Zuffenhausen, near Stuttgart, and Leipzig, were too small for the brand to reach its ambitious goals. "We will consider this year whether to start production in Asia or North America," Mueller told the German magazine Focus in an interview published Monday.