It’s stuff like this that really burns me. Virginia is known to be one of, if not the toughest state in the country when it comes to speeding. Now it seems that because the state has a budget deficit of $2.2 billion they’re trying to use motorists to bail them out. My favorite part of this mess is that our tax dollars helped fund this by paying the overtime to the Troopers with a federal grant.

The state issued a total of 7,016 tickets to motorists over the two-day blitz. With the majority of them being speeding tickets. If you got nailed doing 10 to 15 mph over the speed limit, your fine was classified as “Reckless Driving” and came with a “GO F*CK YOURSELF” fine of $2500… ARE YOU KIDDING ME? The entire state should be embarrassed by this…

Source: egmcartech.com

I’d like to preface this blog by saying that anyone who follows what I am about to say will have my full support. For those of you who don’t know, I am a New York native. I was born in lower Manhattan, grew up in Brooklyn and have lived all over the boroughs. Most people have preconceived notions about what it’s really like to live in and or around the big city, but in reality they have no idea. New York is a tough place, it wears you down and makes you hard. Living space is not measured in acreage here, it’s measured in square feet with a population density so tight that the borough of Queens could kick the shit out of the state of Rhode Island.

Despite RideLust’s blatant and ardent affection for Volvo, it is with solemn respect that this grim story is approached. I jest, of course.

As many are well aware, Saab’s dysfunctional, 21-year relationship with General Motors has taken an even more tumultuous turn as of late thanks to Koenigsegg’s abrupt resignation from the purchase procedure and The General’s subsequent decision to wind down operations. Since GM’s announcement that Saab would be grounded for eternity (aviation reference, get it? No? Philistines), Dutch supercar maker Spyker has expressed a renewed interest in acquiring the brand and is currently GM’s preferred bidder, but the future still looks bleak. For some undisclosed reason, GM has managed to sour literally every potential sale that they’ve entertained and at this point, Saab is about as likely to escape their death sentence as Ed Whitacre is to grow a pair of large, supple breasts.

United Auto Workers President Ron Gettelfinger, right, and Bob King, UAW vice president, left, address the media in Detroit, Tuesday, Oct. 13, 2009 after the union reached a tentative deal with the Ford Motor Co. on contract changes.

Despite the glimmer of hope provided by the CAW’s acceptance of similar modifications over the weekend, the UAW hasn’t proven nearly as accommodating of the concessions Ford has requested to its labor agreement. The new initiatives, which were approved by an 83% vote in Canada, were largely aimed at reducing labor costs and, ipso facto, the necessity of layoffs. Under the new plan, employees would have seen a reduction in paid vacation time, a widespread wage freeze, and restrictions on their rights to strike. Thereby freed of a significant amount of the financial burden currently weighing them down, Ford promised growth and a corresponding increase in job security.

Unfortunately, the UAW proved unwilling to part with their notoriously generous benefits and rejected the new deal in a 75% opposing vote. Ford is justifiably unhappy with the decision.

Earlier this month, the Swedish government announced their tentative decision to guarantee the $585 million European Investment Loan Saab was seeking in order to survive. Claiming to be wary of playing favorites, the mouthpiece for the Swedish Industry Minister Maud Olofsson placed heavy emphasis on the uncertain terms of the agreement, stressing the proposal was still subject to ethical approval. Apparently, whichever committee charged with making such a moral decision decided that the Swedish governing body personally guaranteeing hundreds of millions worth of dollars for Saab was in no way blatantly unfair to any other domestic automakers experiencing similar cash flow problems.

Late yesterday evening, reports broke that the Swedish government had agreed to guarantee Saab’s request for a $585 million European Investment Bank loan apparently needed to secure Koenigsegg’s tentative bid for acquisition. Today, a spokeswoman for Swedish Industry Minister Maud Olofsson stressed that although the government has tentatively approved the disbursement of funds, the transaction will not be final until it receives official approval from the EIB. Off the record, the deal is regarded as good as done and the Swedish government’s only real hurdle is making sure that fellow Swedish manufacturer Volvo doesn’t feel as though they’re getting the shaft – which barring any new developments is exactly what’s happening.

Image: egmcartech.com

As you might expect, Saturn dealers are none too happy that Penske backed out of buying Saturn after being unable to secure a commitment from an unnamed foreign manufacturer to provide cars for rebadging. That means unless new money is thrown down the hole into the marquee, 350 Saturn dealerships and (according to a Saturn dealer group) 13,000 jobs will be lost. All they need, according to those same Saturn dealers, is a $250 million cash infusion from Obama’s American Recovery and Reinvestment Act (better known as “the Bailout”).

It’s been a rough week for Toyota. The giant automaker has been slapped with a restraining order by a Texas judge to prevent the company from potentially destroying any information about an alleged spate of rollover accidents. The plaintiff in the case, Dimitrios Biller, alleges that there is “a Watergate style cover-up underway at Toyota to undermine the American legal system.” Biller claims that Toyota has been conspiring to conceal evidence about the relative safety of their vehicles, and might destroy the documentation. If the allegations are true, Toyota might be in the midst of another safety-related fiasco, especially in light of the “floormat inferno” scandal raging at the moment. Is Toyota engaged in nefarious doings, or is it just so large now that it’s an easy target for frivolous suits? More and a press release from Biller’s attorney below.

GM’s announcement that they’re closing the Pontiac (the city, not the defunct brand, in Michigan) truck plant after 37 years puts a big fat “!” at the end of news that truck sales have fallen off to their lowest point since Reagan was in office. High margin pickup trucks were the bread-n-butter of Detroit’s strategy since car buyers defected to the Japanese in the ’80s and ’90s, making up 15% of all light passenger vehicles being sold. That percentage has now dropped to 10% of the market, and unless something drastic happens those numbers are expected to slide further.

In a few short weeks, General Motors is expected to finalize the whoring out sale of HUMMER LLC to China-based Sichuan Tengzhong Heavy Industrial Machinery Co. If the deal receives the required approval from the Chinese regulatory commission, Sichuan has earmarked $9.4 million to fund the construction of a new U.S. headquarters to be built in either Detroit or the Detroit suburb of Auburn Hills. When the final location is selected and the facility is opened for business, the Michigan Economic Growth Authority estimates it will create some 300 jobs for the community and in return for the anticipated economic stimulation, Michigan is preparing to greet Sichuan with the mother of all welcome wagons.