Chevy Left Hood Hinge 1959 60 Impala Belair Biscayne 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.

Kia Picanto facelift (2007): first official pictures

By Tim Pollard First Official Pictures 30 May 2007 03:37 Facelifted Kia Picanto: the lowdown Kia is a company on the up and it knows not to mess with a successful formula. So when its best-selling car needs replacing, they don't mess around much. The result?

Audi R8 GT (2010): first news of lightweight R8

Audi has shown the new R8 GT – a limited-edition model to sit atop the R8 supercar family. The GT is 100kg lighter, thanks to some body parts made from carbonfibre and its V10 engine is tuned up to Gallardo-nibbling spec. With 552bhp and 398lb ft, the R8 GT will be considerably faster than the standard R8 5.2 FSI V10.