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Bankruptcy looms for cash-starved Saab

The future is growing dim for Saab. Reports from Europe say the Swedish courts might soon declare Saab bankrupt--possibly as soon as Wednesday--because the company is out of cash. Saab recently won court protection from its creditors while it waited for funds.

Obama calls for shared sacrifice in auto bailout

President-elect Barack Obama says he wants to keep tough conditions on automakers that get federal loans. The companies must develop sustainable business models because it would be unacceptable "to keep them on their lifeline through taxpayer dollars in perpetuity," Obama told The Washington Post. Obama said industry restructuring will require "everybody, from labor to management to creditors to shareholders, giving something up." His comments contradict suggestions that the new administration will relax federal loan agreements reached last month with General Motors and Chrysler LLC, possibly with softer demands on the UAW.

Bertone Nuccio

Bertone will launch its latest car, the Nuccio at the 2012 Geneva motor show. The car has been built for an individual private buyer, and named after Giuseppe Bertone whose nickname was Nuccio. Bertone says the car's surface language is representative of the brand's future identity, whilst the low, angular silhouette is an echo of the wedge shaped cars that helped define the design house.