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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.

Jerry Seinfeld doesn't love Sarah Jessica Parker's new Country Squire in latest CiCGC

Comedians in Cars Getting Coffee has finally returned for its fourth season of combining Jerry Seinfeld, a miscellaneous celebrity and a cup of java. But rather than fondly remembering some older piece of automotive machinery, this time around, Seinfeld is utterly unable to keep his hatred of Sarah Jessica Parker's 1976 Ford LTD Country Squire from coming out to hilarious effect.
However, Parker has such a high level of infectious enthusiasm for her recently purchased Country Squire that she seems to win over Seinfeld by the end - at least a little bit. For most of their time together, the two of them drive around Manhattan and the suburbs waxing nostalgic about what things were like when these wagons were ubiquitous.
Since this is actually SJP's car, she and Seinfeld trade off driving duties, and the image above should give you some indication of Seinfeld's reaction to the Sex and the City star behind the wheel. It seems this '70s land yacht might be a little too much for her to handle in New York traffic. Regardless, she is absolutely in love with her Ford.

Amelia Island 2013: 50 years of the Ferrari-slaying Ford GT40

Originally developed with the sole purpose of being a Ferrari rival to compete at the 24 Hours of Le Mans, the Ford GT40 became a prominent racing machine in the 1960s in both Europe and the US. Not wanting to leave such an important car out of the fun, the 2013 Amelia Island Concours d'Elegance also took time out from its other celebrations to recognize the 50-year anniversary of the GT40.
Over its short lifespan, the GT40 was offered in a handful of configurations, but the classic short-tailed (Mk I and Mk II) bodystyles were well represented... especially in Gulf livery. James Glickenhaus (of Ferrari P4/5 fame) had his bright yellow Mk IV in the field, and there were several others in this bodystyle, including one that has seen plenty of time on the track judging by its chipped-up nose.
As a fitting statement for the car's lengthy racing history, GT40 Chassis Number 1075 won this year's Concours de Sport award. This car took home the checkered flag at Le Mans in 1968 and 1969, and racked up a total of six wins in just 11 races.