Archive for February, 2010

BREAKING NEWS: Hummer to wind down operations for good!

February 25, 2010 Leave a comment

This after Chinese heavy equipment maker Sichuan Tengzhong, fails to come to agreeing terms with the big truck’s embattled parent, General Motors.

Sichuan Tengzhong Heavy Industrial Machines Co. said Wednesday it pulled out of the deal to buy the company from General Motors Co. Tengzhong failed to get clearance from Chinese regulators within the proposed timeframe for the sale, the Chinese manufacturer said.

GM said it will continue to honor existing Hummer warranties.

”We are disappointed that the deal with Tengzhong could not be completed,” said John Smith, GM vice president of corporate planning and alliances. ”GM will now work closely with Hummer employees, dealers and suppliers to wind down the business in an orderly and responsible manner.”

Read more…

Categories: News

NEWS: Reports say that Saab deal could have been done earlier but…

February 2, 2010 Leave a comment

The short of it is, Spyker could have had the keys to Saab earlier, if not for the Swedish government’s suspicion of the group’s ties with another company who have been linked by intelligence agencies to the Russian mafia!

Yes. that IS an actual full-sized shuttle on it's back

Heard of Antonov before? Well, if you’re the only person at the bookshop standing in front of the aircraft section or have found yourself paying the nonsensical $100 a day parking fee at the Singapore Airshow 2010, then the word Antonov probably means something.

These guys made the largest plane known to man with the aircraft spanning the length of a football field from the nose to the end and having six, instead of the boring normal four engines, each pushing out 51,590 pounds of thrust! It was called the AN-225 and it was the epitome of the “upsizing” mentality that seemed to be popular with the Soviet Union while it existed. For more information about the aircraft you guys should be heading this way.

Back to the Saab sale though, it’s suspected that during it’s Initial Public Offering back in 2004, the Convers Group, a Russian bank controlled by the Antonov family, had bought a 29% stake in the Dutch company. Read more…

Categories: News