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Saab on brink of closing after GM rejects rescue plan
Mon, 19 Dec 2011Saab Automobile filed for bankruptcy on Monday and is on the brink of shutting for good after former owner General Motors rejected a rescue plan. The move sets the scene for the end of Saab's struggle to survive after months of hastily drawn-up deals for a company that hasn't made a vehicle in months. The latest plan involved Chinese automaker Zhejiang Youngman Lotus Automobile, but this was vetoed by GM, still a key Saab supplier, over the weekend "After having received the recent position of GM on the contemplated transaction with Saab Automobile, Youngman informed Saab Automobile that the funding to continue and complete the reorganization of Saab Automobile could not be concluded," Saab's Dutch owner, Swedish Automobile, said in a statement.
Pirelli and Michelin score highest in J. D. Power satisfaction study
Wed, 14 Apr 2010Pirelli's high- and ultra-high-performance tires scored highest in the sport segment of the 2010 J. D. Power and Associates tire customer-satisfaction study with an index score of 742.
Bentley Continental Supersports hits 205 mph on ice
Tue, 15 Feb 2011WITH VIDEO -- So why wouldn't you do this? Take a six-figure British luxury car and a four-time World Rally champ, then race the car on ice to a top speed of 205.48 mph. That's a world record.