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Saab increase pay for Board members as Swedish Debt Office circles

Saab Meltdown gets closer It never rains, but it pours. And for Saab and Victor Muller it has been a year or more of almost unbroken storms, punctuated with just the odd ray of financial sunshine as Victor Muller combs the planet for investors to stake a claim in his chocolate teapot company. There has been no production at Saab of any consequence since April; many suppliers still remain unpaid despite substantial injections of cash from Chinese buyers; wages have not been paid and now, just to rub salt in the wound, it’s been revealed that board members received pay rises of up to 650 per cent in 2010.

Porsche 918 Spyder gets its own website

The Porsche 918 Spyder (pictured) now has its very own website It’s more than two years since the Porsche 918 Spider went on sale, but it’s now getting close to arriving in Porsche showrooms so Porsche has created a new microsite dedicated to all things 918. Since it went on sale, the 918 Spyder has been developed further and the production 918 will come with 4WD courtesy of its electric motors – one delivering 154hp (rear) and the other 127hp (front) – which, combined with 608hp from its 4.6 litre V8, promises 0-62mph in 2.8 seconds (and 7 seconds on just the electric motors) and on to 211mph. The new 91 microsite reveals Porsche’s self-imposed challenge was to beat the Carrera GT by at least 10 seconds on the Nurburgring, and there’s video of the 918 out playing at the Nurburgring, as well as plenty of photos and detail on exactly what the 918 offers.

GM's Lutz to retire May 1

General Motors Vice Chairman Bob Lutz plans to retire from the automaker effective May 1, according to a statement released by GM on Wednesday. Lutz, 78, had been serving as a senior adviser to GM Chairman and CEO Ed Whitacre after shelving retirement plans to take charge of the automaker's marketing after it emerged from bankruptcy in July 2009. An outspoken executive who both challenged global warming and championed GM's all-electric Volt, Lutz is credited with revitalizing GM's product development efforts after being hired by former GM CEO Rick Wagoner in 2001.