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EU formally questions French government assistance of Peugeot's finance arm

Recently, the finance arm of PSA/Peugeot-Citroën was in such debt trouble that it was pricing itself out of the car loan market. The rates it was paying to service its debt, which was rated one step above junk, were so high that it was forced to charge car-buying customers higher rates than they could find elsewhere. This was adding to Peugeot's already impressive woes by sending revenue out the door to competitors.
Two months ago a deal was worked out with the French government whereby the state would provide 7 billion euro ($9 billion USD) in bonds to guarantee the finance arm's loans. The French government could nominate someone to join the Peugeot board, Peugeot would guarantee more French jobs, and on top of that deal, other banks would provide non-guaranteed loans. The government would take no equity stake in the car company.
Although not yet finalized, the arrangement is meant to create some breathing room for Peugeot Finance to lower its interest rates for customers, and a government-nominated board member, Louis Gallois, was recently named to Peugeot's supervisory board. The arrangement was also openly questioned by at least three competitors: Ford, Renault - which is 15-percent owned by the French government after it received state aid - and the German state of Lower Saxony, itself a 15-percent shareholder in Volkswagen.

eBay Find of the Day: Mk1 Ford GT40 with interesting history

You might expect a rare Ford GT40 to cross the block at some sort of prestigious auto auction from RM or Gooding, not show up on eBay for over $2 million. However, that's exactly what we have here. The seller claims the car is a late-build Mk1 GT40 from 1969, and it's currently owned by the director of the Hublot watch company in Switzerland.
According to the listing, GT40 #P1108 started life as Mk1 car that was built from factory spares in 1969 and was first sold in 1971. However, the auction is somewhat confusing. According to an image in its gallery, the vehicle was actually built from one of the seven spare Mk3 tubs when production of the iconic racers ended.
This GT40 was never built as a racecar - it lived on the streets its whole life. After assembly finished, it was sent to Germany and was eventually registered for the road. The first owner kept the car until 2005 and sold it with 7,300 miles on the odometer. The current owner bought it in 2012.

Ford dinged by OSHA for asbestos at Buffalo plant

Ford has come under fire from the Occupational Safety and Health Administration (OSHA) for violations regarding asbestos exposure in a company metal stamping plant in Buffalo, NY. OSHA has cited Ford for eight violations in total, according to an Automotive News report, and faces fines of up to $41,800. 537 workers are employed at the stamping facility.
The violations include a pipefitter at the facility being exposed to asbestos-containing material while working on a steam line, other workers exposed to the material without respiratory protection and work areas that were not designed to limited the number of workers in contact with asbestos. Further, areas in which asbestos was present were not properly restricted, and levels of asbestos in the air were not monitored.
According to an unnamed Ford spokesperson in the AN report, the company feels that the OSHA citation is erroneous saying, "We have fully cooperated with the local OSHA officials and we don't believe the citations are warranted." Ford also maintains that it will work with the authorities to resolve the issue.