Italian Government Targets Tax Evading Luxury Car Owners

Italian Government Targets Tax Evading Luxury Car Owners
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As the indebted Eurozone nation Italy struggles to stay afloat, the country finds many of its wealthier citizens evading taxes and refusing to do their part. As a result, Italy’s Polizia launched a major operation across Milan in late January, setting roadblocks to halt high-end luxury vehicle drivers. When drivers hand over license and registration,… Continue Reading...

Saab Has Ability To Pay Debts According To Probe By Swedish Agency

Saab Has Ability To Pay Debts According To Probe By Swedish Agency
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Sweden’s debt agency is claiming they have successfully investigated a handful of Saab bank accounts with some success. On Friday, the agency uncovered $796,291 which is enough to cover debts owed to the first four companies waiting for payment. The debt agency has contacted other banks holding Saab accounts in order to understand exactly where the Swedish automaker stands…. Continue Reading...

Swedish Debt Enforcement Agency Begins Collection Process Against Saab

Swedish Debt Enforcement Agency Begins Collection Process Against Saab
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Sweden’s regulators started the collection process against Saab Automobile after the struggling automaker failed to meet a Tuesday deadline to pay two suppliers. ”We’ve just begun by looking at what kind of bank accounts they have and what kind of collateral there might be” in the process that started Wednesday, Tommy Barkman, a case worker… Continue Reading...

Saab Suppliers Pressure Automaker to Declare Bankruptcy

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Saab Suppliers Pressure Automaker to Declare Bankruptcy
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Swedish Automobile, owner of financially-stricken Saab, is being pressured by European suppliers to declare bankruptcy, hoping the threat will pressure the automaker to pay back debts. Saab production came to a halt in April, with suppliers refusing to deliver components because they were not being properly paid. Spanish auto panels maker Matrici S. Coop prepared a bankruptcy request,… Continue Reading...

Chrysler Repays $7.6 Billion In Outstanding U.S, Canadian Loans

Chrysler Repays $7.6 Billion In Outstanding U.S, Canadian Loans
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The Chrysler Group has repaid it outstanding debt worth $7.6 billion in loans to the U.S and Canadian governments. This ends nearly two years of public ownership of the third largest U.S automaker. Chrysler made a payment of $5.9 billion to the U.S Treasury and $1.7 billion to Export Development Canada- finally ending loans that… Continue Reading...

Saab Production Halt Continues Amid Reports Of Unpaid Bills Worth Millions

Saab Production Halt Continues Amid Reports Of Unpaid Bills Worth Millions
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Saab parent company Spyker held talks with parts suppliers Thursday, in a bid to restart production that has been halted over a dispute regarding unpaid bills. The scandal has been a blight on Saab’s efforts to re-structure after a tumultuous year of teetering on the brink of bankruptcy. “We’re expecting that we could resume normal… Continue Reading...

Ford Pays Down $9.9 Billion In Debt On Road To Economic Recovery

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Ford Pays Down $9.9 Billion In Debt On Road To Economic Recovery
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Ford Motor Company has announced huge strides in its efforts to become economically viable. And whether through magic or some sort of wacky accounting that involves proper management of finances, it has done this without federal government aid (aka your tax dollars). Today Ford announced that is has reduced its $25.9 billion debt by more… Continue Reading...