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Change afoot at Saab as CEO retires: where next?

Click here to see all 2011 Saab articles Saab CEO Jan Åke Jonsson announced his retirement on Friday. It was yet another small but significant news nugget from Saab – the inbox has buzzed with announcements ever since the bankrupt car maker was saved by an independent takeover on 23 February 2010. The news that Saab's veteran CEO is stepping down makes us wonder what life's really like under the bravado of Europe's newest independent car maker.

Saab seeks court protection from creditors

Saab is filing for protection from creditors from a Swedish district court, the automaker's owner, Swedish Automobile, said Wednesday. Saab is seeking court approval for a voluntary reorganization to secure short-term stability while it waits for funding from Chinese investors Pang Da and Zhejiang Youngman, Swedish Automobile said in a statement. Victor Muller, CEO of both Saab and Swedish Automobile, said in a statement: "We have concluded that a voluntary reorganization process will provide us with the necessary time, protection and stabilization of the business, allowing salary payments to be made, short-term funding to be obtained and an orderly restart of production to be prepared." Muller remains optimistic about Saab's future.

Jay Leno tests the Venom GT

Five years ago, Hennessey Performance was locked in a high-horsepower battle with supercars from Germany, Italy and the United States. The car Hennessey brought was the Venom 1000 Twin Turbo Viper. After decimating the competition in 0-to-200-mph runs, John Hennessey thought if his company could just stuff the engine into a smaller car, it could go even faster.