Until this morning I couldn’t reliably spell Koenigsegg. It was a little company of fewer than 50 employees making fewer than 20 cars a year. Now it has effectively taken over Saab.
Tag Archives: bailout
Here’s an ominous observation we stumbled across on the New York Times website – want to have a stab at what all those map points are for?
Chrysler is bankrupt. To a British ear that sounds pretty stark, but in the US it means something rather different – ‘chapter 11 bankruptcy‘. It will keep operating, but it will be able to fend off its creditors and try to renegotiate its debts.
President Barack Obama has showed his teeth. He’s told the boss of GM to resign. Presumably he wouldn’t have done that unless he was about to give GM the billions in loans the company is asking for. The president needed to get some collateral, didn’t he?
Saab is getting ready to jump out of the GM aeroplane. Or rather, be pushed. The only issue is, does it have its parachute?
If you want to know what’s been ailing Saab all these years, today’s unveiling of the 9-3X wagon is a good place to start. Saab actually invented this car seven years ago. But GM bungling means it hasn’t been released until now.
Welcome to the Detroit show, where the spotlight’s firmly on GM and Chrysler. Chapter one of a Great American Comeback story – or an obituary? As far as I can see it’s one of each. GM might just pull through, but Chrysler doesn’t stand an earthly.
So after all the brinkmanship, the President stumped up the cash. But the bailout of GM and Chrysler comes with strict conditions. GM and Chrysler – and their workforces – will have to take deep cuts during the next three months, or the US Government will want its money back and GM will have to go […]
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