Jay Leno takes to the road in the new SLS AMG from Mercedes.
Jay Leno takes to the road in the new SLS AMG from Mercedes.
Jay Leno takes to the road in the new SLS AMG from Mercedes.
Jay Leno takes to the road in the new SLS AMG from Mercedes.

Reinventing a classic


  • English
  • Arabic

There are certain cars I've always admired but never thought I wanted to own. One was the Mercedes 300SL with the gull-wing doors. For some reason, I don't know why, I thought they were heavy. It looked heavy to me. Combined with them being extremely expensive, I'd never driven one. I used to work in a Mercedes dealership and we took one in trade. While it was at the dealer, and me being aged 19 so not allowed to drive it, I remember sitting in it and turning the wheel and thinking how cool it was. Because the steering felt heavy I guess that's why I thought it was heavy for so long.

Anyway, I got more and more intrigued with gull-wings, reading all the books. Then I heard there was one that might be for sale. But it was in the desert in a container. It looked interesting. The engine was out of it and the transmission was too. I asked if we could push it out in the light. I opened the door and I sat in it. It was a classic beautiful dashboard - analogue gauges, laid out logically.

Even though it was a race car, I would be only the third owner. It was put away in about 1980. But even 30 years on, all the switches went ker-click, ker-click. Everything had a nice solid feel. The guy selling it said it needs a lot of work and I told him I had a shop so that's OK. It's the best way to buy a car. I've never bought a car that doesn't need totally redoing. So I thought this would be perfect, needing redoing from the outset.

When the second owner got it, it was a nice old sports car, expensive but not stupid money. He took it down to a place called Junior's House of Colour. Junior was the hot rod painter and still is. He put a beautiful candy apple red paint job on it. Then the car was taken to a man named Tony Nancy, who was a legendary hot rod upholstery guy. It looks beautiful. So I decided to buy it, and when we brought it back to the shop we got it up on the lift and it was amazingly sound. We did the brakes and master cylinder, flushed the petrol tank and went through the motor, including getting it up on the dyno.

I'd heard scary stories about electrolysis between the aluminium and steel parts of cars. Luckily rust is not an issue here in California, especially in the desert, and this one was in very solid condition. The nicest surprise was not its condition but how it drove. After all these years of thinking it was heavy, I realise it is one of the greatest cars I have ever driven. I was astounded how light on its feet it was. It only weighs 1,270kg, and 240hp is more than enough to move it down the road. It's a car that gathers speed quickly. That might be a strange way of phrasing it but I think that's a good description. In its day, nothing accelerated faster. Even now, this is still pretty quick and, at 100 miles an hour, it's rock steady.

This must be the greatest car of the 1950s. It had incredible build quality and rigidity. It is comfortable, quiet and smooth. I took it out on the freeway and the speedo said 100mph. I presumed it was wrong but a guy out with me on his bike said we were at 105. Now it's my favourite car to drive. For now, I am not going to restore the body. I like it as it is. It's a perfect, classic daily driver. I remember reading a magazine where the writer reported seeing a Lamborghini Countach parked with the interior littered with crumpled crisp packets and discarded soda cans. I remember thinking, that's kind of cool.

Having the ratty paint job, you can take it into a fast food joint and park it. Some say it's a sin and it should be perfect. Maybe one day I will restore it, but you could spend $300,000 making it brand new and it will still drive like it does now, unrestored. Timing is everything. Having only just got the original gull-wing, Mercedes asked if they could show the new one, the SLS AMG Gullwing, to some guests at my garage. I was happy to oblige.

This car is Mercedes-Benz's way of saying they value and respect their heritage. And they want to see if they can make a modern classic. There is no other reason to build it but for pride and showing that lightning can strike twice. You can't compare the two. You can only live in the time you live in. In some ways it is superior to the original. In the Fifties, they couldn't put a five-speed gearbox in because it would have pushed the price through the roof, and they wanted to have disc brakes.

With the new one there are none of those limitations. You have ceramic brakes and a seven-speed, double-clutch transmission, so on that sense they started at a higher level. It's made by AMG, who are hot-rodders with engineering degrees. Like the original, it handles beautifully and has great performance. But to me, the quirkiness of the gull-wing doors is the key selling point of the car, just like the original. When you say gull-wing, it only means one thing: Mercedes. motoring@thenational.ae

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

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How it works

A $10 hand-powered LED light and battery bank

Device is operated by hand cranking it at any time during the day or night 

The charge is stored inside a battery

The ratio is that for every minute you crank, it provides 10 minutes light on the brightest mode

A full hand wound charge is of 16.5minutes 

This gives 1.1 hours of light on high mode or 2.5 hours of light on low mode

When more light is needed, it can be recharged by winding again

The larger version costs between $18-20 and generates more than 15 hours of light with a 45-minute charge

No limit on how many times you can charge

 

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

Chelsea 2 Burnley 3
Chelsea
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Burnley Vokes (24', 43'), Ward (39')
Red cards Cahill, Fabregas (Chelsea)

Our legal consultants

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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The specs

Engine: 3.0-litre six-cylinder MHEV

Power: 360bhp

Torque: 500Nm

Transmission: eight-speed automatic

Price: from Dh282,870

On sale: now