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San Marino Motor Classic celebrates its third year

There may be more car collections hidden in Southern California garages, hangars and warehouses than anywhere else in the world, and Aaron Weiss knows almost all of the collectors. Weiss, along with co-founders Ben Reiling, Paul Colony and a large contingent of car-crazy compatriots and sponsors, put together the third annual San Marino Motor Classic on June 9 with 250 cars ranging from grand tourers to a Wells Fargo stage coach hauling guests around the show. “It's the best of the public and private collections in the Los Angeles area,” said emcee Ed Justice Jr., president of industry products company Justice Brothers.

Peugeot 207 Economique – the 99g car

The Peugeot 207 Economique - guess what its CO2 is?! As you may well have guessed, this is another car maker rolling out the usual low rolling resistance, lowered suspension, gear-change-light, steel wheels version of their regular runaround to create a car that magically dips below 100g/km CO2. Of course it’s completely disingenuous, because unless you drive like you’re carrying the last live eggs of the Dodo all the time you won’t get the CO2 levels quoted, and nor will you get the headline economy.

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.