Honda Adjusting Rod 50340-zv5-010 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.

Safety fears over Beatles crossing

Tourists flocking to one of Britain's favourite musical landmarks to recreate the Beatles' Abbey Road crossing could see the addition of a "lollipop lady" to their holiday snaps. Westminster Council has raised safety fears over the "thousands and thousands" of people who visit the zebra crossing, in St John's Wood, north London, made famous by the band in 1969. In some cases, fans are putting themselves at risk of frustrated drivers who often struggle to make it over the crossing because of the constant stream of pedestrians attempting to recreate the image.

The €2000 car

By Tim Pollard Motor Industry 15 June 2007 08:28 The market for bargain basement cars costing as little as €2000 (£1400) is about to grow dramatically. CAR Online is reporting from Bosch’s annual technology seminar all week – and we grilled the bosses at the world’s biggest components supplier to find out about the soaring demand for cars priced under €7000 (£4900). Bosch’s president of gasoline systems, Wolf-Henning Scheider, said: ‘According to our estimates, this vehicle class will reach a share of 13 percent of the world market in 2010.