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Saab EIB loan repaid by Swedish Government
Sat, 28 Jan 2012Sweden has repaid Saab's EIB loan With Saab in administration, the European Investment Bank (EIB) has called in the Swedish Government guarantee on Saab’s loan. In the midst of Victor Muller’s efforts to restructure Saab, Saab received access to a European Investment Bank loan of €400 million, of which it accessed some €217 million. But just like any less than credit worthy individual Saab needed a guarantor for the loan, which they received from the Swedish Government.
Ford gets the 1965 Mustang ready for the racetrack
Wed, 26 Mar 2014When a pair of 1965 Ford Mustangs served as pace cars for the 1964 Indianapolis 500, the car -- which had made its debut just a few weeks before -- was kicking off an exciting motorsports career that continues to this day. In the April 25, 1964, issue of Competition Press and Autoweek, we shared news (relayed to us by none other than Lee Iacocca) of the Mustang's racing ambitions. At the time, the competition schedule included the Midnight Sun road rally in Sweden, the Alpine rally in France and Spa-Sofia-Liege rally, which ran between Belgium and Yugoslavia.
In its first year, Indy 500 'glamping' shows potential
Wed, 28 May 2014For the first time, the Indianapolis Motor Speedway offered “glamorous camping” or “glamping,” on the track's infield during the Indy 500. Across a small lake from the Brickyard Crossing Golf Course's eight hole, IMS settled “Glamptown,” a village of 70 10-foot x 15-foot canvas tents. The tents were available with the choice of a comfortable queen bed, double beds, or two to four military-style cots.