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Spyker attempting to sell Saab real estate in money-raising move

The next chapter in the Saab cash crunch appears to involve Spyker selling Saab real estate to an unnamed financial institution, with the automaker leasing the property back for its operations. Saab has been forced to shut down production twice in the past few weeks in the wake of unpaid supplier bills, raising concerns that Dutch owner Spyker may be facing a liquidity crunch. The latest move is likely aimed at freeing capital for the automotive operations while the company negotiates for a loan with the help of the Swedish government.

MPs call for parking charge reports

COUNCILS should publish annual parking-charge reports to show where revenue comes from and where it is being used, MPs said today. The use of parking charges and fines specifically to raise revenue was "neither acceptable nor legal" said Louise Ellman, chairman of the House of Commons Transport Committee. Launching a report by her committee into local authority parking enforcement in England, Mrs Ellman said: "There is a deep-rooted public perception that parking enforcement is used as a cash cow, so it's essential that local authorities apply stringent transparency." The committee said local authorities in England had a collective parking surplus in the hundreds of millions of pounds, but that the exact amount was subject to debate.

Who's Where: High-profile re-organization at General Motors

General Motors' design division has been re-organized in a spate of high-profile restructuring that comes into effect on 1 August. In Europe, David Lyon replaces Mark Adams as Vice President of Design for Opel/Vauxhall in Rüsselsheim while Adams moves Stateside to become Executive Director, Global Cadillac and Buick Design. Ken Parkinson, currently Director North American Exterior Design/Global Architecture Strategy and Chevrolet Brand Champion will become Executive Director, Global Chevrolet and GMC Design.