by Swade
April 9, 2009 in Archive
Taken by one of SU’s quieter friends, Rickard, at the entrance of the Saab Museum in Trollhattan.
As he notes in the tag to the photo
I’ve never seen 9-X with this frontlight active before!!
Me neither.
Absolutely fantastic!
by Swade
April 8, 2009 in Archive
While Swade’s away on business travel (always tons of fun — not), I’ll throw in a few nuggets about how the General is faring here in the United States.
In a nutshell, things are “not too good”.
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According to my own Djup Strupe in the GM Spring Hill plant, the GM plans are pretty simple at the working level: if it costs money, stop doing it. That much you could probably guess without too much trouble.
However, one thing that surprised me was that even though these edicts are out there, there are major exceptions for developments of “next generation” automobiles.
In his case, I’ll guess that he’s referring to the long-rumored hybrid version of the Chevrolet Traverse. In either event, I believe that this could be a great loophole for development funds for certain Saab projects. Maybe. If I’m really wishful. At least the technology could make its way to Saab through the sharing arrangement. I’m not holding my breath, but it could happen, especially is one of the Saab bidders needs a little “extra” to close the sale of Saab.
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Bob Corker, the junior Senator from my home state of Tennessee wrote an open letter published in the news this week:
UAW’s resistance thwarted plan to help GM survive
By U.S. Sen. Bob Corker • April 5, 2009
In December our office tried to broker a deal that would have resulted in bipartisan support and provided a viable road map for General Motors to move forward.
As we worked through that plan, every stakeholder agreed to shared sacrifice except the United Auto Workers, where we met resistance.
In fact, somehow in offering a plan to help the company survive, one that made common sense and would have garnered bipartisan support, I became public enemy No. 1 with the UAW and the AFL-CIO.
Unfortunately, none of us can know what would have happened if there had been cooperation among all the stakeholders in December and we had been able to move forward with our plan to solve decades-old problems and protect taxpayer investment.
We do know the results now. In one fell swoop, our government has taken over a company — it fired the CEO, replaced the board, is involved in making decisions about which plants will survive and what kind of cars they will make, and now appears to be directing the company to bankruptcy.
In bankruptcy, the same UAW contracts that were the focus of our negotiations in December would change dramatically and bondholders would take huge write-downs on their investments. Unfortunately, because these steps weren’t taken in December, billions of taxpayer dollars are now down the drain and more stringent, draconian measures will be put in place.
Regardless of what got us here, the members of the UAW across Tennessee are my constituents, and though they may have disagreed with my approach this fall, there should be no doubt that I want the very best for them, their families, and the many people throughout our state who depend on the auto industry.
I called to congratulate Fritz Henderson as soon as he was announced as GM’s new CEO. Fritz and I have had a lot of interaction over the past six months and enjoyed a good relationship. I have offered my support in his efforts to do what’s best for GM.
I have also spoken with Steve Rattner, head of the administration’s auto task force, and sought his strongest assurance that politics will be left out of the decision-making. I certainly hope that is the case.
If the administration uses factors like efficiency, flexibility and the quality of the workers, our modern, adaptable GM plant in Spring Hill should do very well. Spring Hill is the kind of facility that represents what made the American car industry a world leader in technological innovation. Hopefully it will play a key role in GM’s resurgence.
I completely agree with Mr. Corker. The UAW has been obstinate and out of touch.
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Which plants to close? The question gets a little political.
From the above referenced article in Forbes:
According to industry analysts, Lansing and Spring Hill are modern, recently refurbshed and critical to future success:
The Lansing and Spring Hill plants should be safe if operating decisions are made rationally, said David Cole, chairman of the Center for Automotive Research in Ann Arbor, Mich.
“Spring Hill is still a relatively new plant and has been refurbished to make it much more flexible than it has ever been,” he said. “It’s a very good plant, and when the economy recovers, those GM crossover vehicles are going to be very strong.
“It would be a shame for GM not to be able to meet consumer demand because they closed one of the plants. If they walk away from that plant, that would be a very strategic error,” Cole said, “but in politics anything is possible.”
Yikes, so what to politics have to do with making cars? Quite a bit according to another industry analyst quoted in the same article:
“Spring Hill could be on the bubble because it’s in a red state [Tennessee], and Michigan is a blue state,” Merkle said. “The governor of Michigan is a Democrat, too, and she needs all the plants she can get.”
For those of you outside the US, “red” has come to denote Republican, while “blue” has come to denote Democrat. President Obama is a Democrat, and these opinions imply that he and his minions will help those that elected him and punish those that voted against him.
For the record, Tennessee’s governor, Phil Bredesen, is also a Democrat.
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Finally, in an act that rivals the proverbial re-arrangement of chairs on the sinking Titanic, General Motors is slowly auctioning the GM Heritage Collection to raise funds and save on maintenenace and storage costs.
The Barrett-Jackson auction in Palm Beach, Florida tomorrow (April 9), will include many of the latest to be sold.
Most of the cars are real yawners in my book — who cares about the last Saturn Ion made, for instance? Three that I’d choose to bid on:
1941 Cadillac Series 61
1956 Oldsmobile Delta 88
1972 Pontiac Grand Prix
by Swade
April 8, 2009 in Archive
We should never neglect or forget about the Aero-X. Naturally, we tend to focus on the cars that we can actually drive and concepts tend to be flash-in-the-pan affairs, but this one should be different.
No-one would have believed that Saab would go from this:
….to this…..
….but they did, however briefly. It’s amazing what a small team of dedicated engineers can achieve. The Holden Monaro is another case in point. It was a private, after-hours project that turned out to be a fantastic success and a great statement for the company.
The Saab Aero-X could be the same thing with the evolution of the more radical elements to more production-capable elements (i.e. roof and doors) and a darn good driving experience.
The main reason I’m still thinking about what is a pretty remote possibility is because of an email I received a few days ago.
It’s from Chris S and I think it’s pretty self explanatory:
Swade, I work in a nice town in Michigan called Birmingham. The other day I was driving back from a meeting, passed a building called the “McCann World Group”, and right in the lobby window was my dream car. The Saab AERO X!! I stomped on the breaks.
Being a Saab nut I couldn’t help but snap some pictures and pass them along for your viewing.
The Freakin’ Aero X….right in the display window! I was amazed. This car is beautiful in pictures, but to see this metal sculpture in person is unreal. The body lines, the front end, the overall shape and attention to detail. Its sex on wheels….
Cheers!
Chris
Now, I should add here that the Aero-X that Chris saw was most likely (I don’t know for sure) the Aero-X copy that GM had made up for display purposes. The real Aero-X lives at the Saab Museum and whilst it does move around for car shows from time to time, SaabUSA had a mockup vehicle made up for displays like this. It’s quite convincing, but it doesn’t have all the details of the original in terms of the interior, etc.
Whether this was the real Aero-X or not is irrelevant. What matters is the undeniable effect that the Aero-X has on all who see it in person.
This is Saab’s 8c Competizione and everyone knows the enormous positive PR that car has given Alfa Romeo, not to mention the continued reverence it will build for the brand in times to come.
Chris’ enthusiasm about seeing the car was palpable. My own reaction when I saw the car for the first time was one of awe. It’s a truly fantastic machine and on some level, it must be do-able.
I’m not talking about a madcap vehicle with a canopy roof. I’m talking about a smooth driving, hard cornering coupe with a Kamm back and true Aero-X looks and style. Something around Audi TT size and class.
It’s got to be do-able and it’d be the perfect calling card to announce that Saab is back in town.
Build it. We will come, and many more with us.
——
Here’s the Aero-X as Chris saw it the other day.
Thanks to Chris for the email!
by Swade
April 8, 2009 in Archive
Follow the links and you might see the reason for the title.
I’m still away with work. When will it end??
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Autoblog report that GM are running rabid, making extensive preparations for Chapter 11 bankruptcy.
The report states that GM could be split into two separate entities; one “new” unit consisting of the General’s successful brands (read: Chevrolet and Cadillac) and an “old” unit made up of its less-profitable endeavors (Hummer, Saab, Pontiac and Saturn).
If the plan is enacted, the all-new GM would assume some of the debt from the bankruptcy (primarily, unsecured debt) and that GM’s bondholders would lose a substantial amount of value if the Chapter 11 filings go through.
I really hope Saab can secure a sale soon and avoid all this mess. I’m not sure how it would effect Saab in its current state, but it doesn’t look like a great thing to be a part of.
Then again, it may be music to a potential Saab investor’s ears.
——
The Detroit News ponders recent news that people are actually interested in investing in Saab or Opel/Vauxhall. They just don’t seem able to believe it:
The Financial Times again, reports out of Sweden, that Saab has received interest from 20 what it calls “active parties”. No suggestion as to why a company which sold 93,000 vehicles last year, and needs annual sales of 130,000 to break even, would be attractive to investors. A Swedish court Monday gave Saab more time, until May 20, to restructure in bankruptcy.
The reason why is that Saab have new models coming soon, can make money once free from GM and are a freaking cool company. Dig?
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I don’t have iPod or phone connectivity in my car, not even a hands-free kit. I don’t have an iPhone, either. in fact, I don’t eve own a phone of my own and probably won’t for years.
Yet somehow this picture seems significant.
From Flickr.
by Swade
April 8, 2009 in Archive
In a complete left turn from Swade’s hard-hitting news coverage, I bring you some of the oddities that I’ve run across while shopping for a new convertible. Not really new, but one that’s new to me. After a brief flirtation with the notion of buying a Viggen convertible that’s reasonably close to me, I’ve decided to stay with the C900 for many reasons, but the primary one is personal preference. I’m just a classic 900 guy. The 9-3 convertibles that I’ve driven (I didn’t drive the Viggen) have also convinced me that they are just a touch smaller than I can reasonably drive regularly.
Seeing all of the nutty things that people will do to a car and seeing all of the mistakes that people make while trying to sell a car is just plain fun. You never know what in the heck these people are thinking when they choose their path. Read on for a few Saab oddities…..
by Swade
April 8, 2009 in Archive
This is the cover of the April 7 issue of Auto Motor and Sport magazine from Sweden and there’s a nice 5-page spread on Saab and the 2010 Saab 9-5 inside.
They’ve tweaked their CGI a little for the front cover and whilst I don’t know for sure, I have a feeling that they’d have to be getting closer and closer to the real thing with each new version.
——
And as an aside, we almost got Tiago’s CGI included in the inside story. Just before they went to press I got an email from them seeking permission to use Tiago’s image but, which I passed on to Tiago.
Unforuntately the lag between checking inboxes in both Australia and Europe meant we were just a little too late to get the image included.
Disappointing, but congratulations to Tiago on having the image held in such high esteem!
by Swade
April 7, 2009 in Archive
My thanks to WooDz for sending the link through on this one.
The Saab Fashionista concept is a design project by a French design student named Mayeul Walser. As you can see, there’s more than just a little Aero-X in there, which is a good thing and a bad thing. You can’t top the original, and maybe the edges are a little sharp for my liking. But on the other hand, the Aero-X is a modern classic in design, a thing of beauty, so it’s a natural place to start.
The interesting thing about this concept design is that it’s been drawn up specifically to match the dimensions of the Chevy Volt. The idea is to create a four seater coupe that would fit on the Volt’s Delta II underpinnings.
The car features some funky weird doors and some good sweeping lines, though I prefer the original Aero-X’s smoother edges. I guess what I’m saying is that I’d just love for Saab to whack some normal doors on the Aero-X and then build the sucker.
This is a nice idea, but when all is said and done, the original is just too stunning to modify.
I like the idea, especially the attempt to real-size the car onto a platform that will actually be used. I hate the name and for my tastes, the Aero-X will always be a winner. But kudos to Mr Walser for having a crack at adapting it for real life, if only in a concept drawing form.
You can read more about the Saab Fashionista concept here.
Thanks again, WooDz.
by Swade
April 7, 2009 in Archive
No comments required. Just click to enlarge.
The 2010 Saab 9-5 has appeared around Trollhattan, and in convoy. Things are starting to get a lot more public.
Saab aren’t going to show us the final product, but they’re obviously happy to get these out and about and seen on the road.
That’s six cars in convoy with two Audis and …..is that a Lexus?
Evaluation vehicles for comparative purposes, or just caught up in the traffic?
This is definitely my favorite angle at the moment.
Looks great at the back.
These photos will pop up in Auto Motor and Sport very shortly as well a nice big feature on Saab.
by Swade
April 7, 2009 in Archive
I wonder which motor show will have the distinction of being the last where Saab shows as a GM brand?
Maybe New York?
The Saab 9-3x makes its North American Debut on April 8th. Here’s the low-down from SaabUSA:
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NEW 2010 SAAB 9-3X: FROM TROLLHÄTTAN TO MANHATTAN
DETROIT – Saab will introduce the 2010 9-3X at the 2009 New York International Auto Show on April 8, a rugged all-rounder aimed at active individualists seeking an alternative to a large crossover or SUV. It is the vehicle’s North American debut, following its world premiere last month at the Geneva Auto Show.
Developed and manufactured at Saab’s headquarters in Trollhättan, Sweden, the 9-3X is designed to stylishly transport outdoor enthusiasts to their adventures. It features distinctive looks; a versatile SportCombi body; higher stance; and advanced all-wheel-drive technology. On top of that, the 9-3X also offers fuel efficiency and functional storage without limits on the kinds of roads it can travel.
In the 9-3X, the acclaimed Saab Cross Wheel Drive (XWD) system – which made its debut in the Turbo X limited edition model last year – will be combined with the fuel-efficient 2.0L turbocharged four-cylinder gasoline engine. The 9-3X embodies Saab’s “EcoPower” technology philosophy, which aims at combining a dynamic driving experience with an efficient use of resources to achieve responsible performance.
Distinctive appeal
Saab designers raised the chassis of the two-wheel-drive 9-3 SportCombi 1.4 inches (35 mm) and added automatic body-leveling so the 9-3X can handle a rugged driving terrain regardless of the load on the rear axle. It is designed for those who frequently travel gravel or unpaved roads, without compromising the driving experience on asphalt.
by Swade
April 7, 2009 in Archive
Sometimes life has a habit of getting in the way, like today. Once again, I’ll be out due to work commitments that really suck so writing here will be thin on the ground. The savings grace for me is that all the big news happened last night. I could break it down into 7 different blog posts but together, we put it all in one.
One concern that I’ve had is that the news media wouldn’t cover yesterday’s great Saab developments with the same vigour they used when Saab went into reorganisation.
Many have covered the news and quite well, but one that hasn’t is Autoblog.
They’ve also ignored several recent Saab stories that I’ve emailed to them, so I’m asking for your help to get their attention.
Webmasters like to know what’s going on with their sites and if there’s a spike in traffic, they usually look to see why. Seeing they’ve developed this habit of not reading my mail, I’d like to get their attention the internet way and point them towards today’s great Saab news.
So…..
Saabs United readers: please click here to visit Autoblog’s Saab section and let them know we’re thinking of them, hoping they’ll spread the good Saab news to a wider audience.
Autoblog writers: please check out the following link to get the run down on what happened in Sweden yesterday.
Thanks all.
by Swade
April 7, 2009 in Archive
First of all, I want to thank all the guys in Sweden for keeping us up to date on the aftermath of the creditor’s meeting. The news came in thick and fast and once again, Saab’s United was the place for non-Swedes to keep pace with what happened, when it happened. I’m extremely thankful for your input.
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So….with the creditors and the court satisfied that Saab have good prospects for the future, is there any further reason for the Swedish government to continue holding out on loan guarantees??
Remember, the Swedish government is a creditor too, and was represented in the court by a taxation representative.
I hope they push hard for these loan guarantees now. It’ll make finding a serious, quality buyer that much easier.
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On buyers, it seems the Automotive News and Autoblog reports about Saab having 20 interested buyers were true.
My most recent correspondence with Saab was via a communique received last Friday and at that time, they were still only talking about 10 buyers.
It’s a great result for Saab, though, to have so many people to deal with. I hope they’re all bringing something good to the table.
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There’s been some conjecture about whether Saab can make 130,000 sales again in the near future. I definitely think they can, but it’s going to take some bold product decisions and pricing to do it. With GM’s legacy costs off Saab’s back, though, Im confident they can.
IIRC, the last really good sales year was 2007. Back then, the 9-7x was doing well in the States, but the real reason for the sales bump was the 60th Anniversary models, which featured fantastic equipment at very keen prices.
It’s that sort of product decision, combined with a new Saab 9-5 and new Saab 9-4x, that can bring Saab back to 130,000 and hopefully beyond (a TTiD/XWD combination wouldn’t hurt, either).
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Speaking of bold decisions….
How much would a half-page ad in the New York Times or the Boston Globe cost?
I’d love to see Saab tell its important markets that it’s here to stay. Big bold adverts in key market news publications would really send a message.
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Coverage of the meeting and the outcome:
Automotive News (sub):
A senior tax authority official, representing the Swedish state, as well as a representative of GM, which is also one of the chief creditors to Saab, told the court they supported the plan.
Lofalk said that about 20 potential buyers are looking at the company and that a deal is expected to be completed in June.
“So far, short descriptions of Saab, so-called teasers, have been sent out and comprehensive contacts have been undertaken with different interest parties,” he said….
….Lofalk said in a court filing that a concentration of production and the launch of new models would boost capacity utilization at the company while efficiency measures lowered its breakeven level to an annual production rate of 130,000 vehicles.
“Saab also expects a positive cash flow already in 2011 as well as good returns at a production level of 150,000 cars,” Lofalk said.
The Local:
It expected volumes to be lower in 2009 and 2010 than in 2008, when Saab built 93,000 cars, but should make 150,000 cars by 2011, owing to three new models that would be rolled out this year and next.
Lofalk said the life cycle of Saab models had been “far too long.”
“Saab aims to have shorter life cycles for its products in the future and thereby have more modern cars” to compete in the European premium segment, he said.
by Swade
April 7, 2009 in Archive
I don’t know if you can call a 38% decline in sales good news, but I think under the circumstances it’s quite possible.
Saab has been seeing sales declines of around 60% in recent months, so a sub-40% in this environment – global recession and reconstruction uncertainty – is quite a result.
March is traditionally a good month for car sales in Britain, and 2009 was no exception with Saab GB leading Saab’s global market.
Saab GB sold 2,444 vehicles in March. This was down by 38.7% on the 3,988 vehicles sold in March last year, but that’s much better than the current trend for Saab and must have been heartening for the hardworking crew there at Saab GB.
Almost every brand in the British market suffered a decline in sales in March. The only exceptions were Corvette (irrelevant with just 8 sales) and Alfa Romeo (surprise surprise!!). Many brands suffered a much bigger decline than Saab.
So….a sales fall, but congratulations to Saab GB as I’m sure you beat your forecasts!
Thanks Clive!!!
by Swade
April 6, 2009 in Archive
The meeting held in Vanersborg to fill Saab’s creditors in as to their reconstruction progress and decide on their immediate future has come and gone – and apparently Saab have the green light to continue.
Whilst 1300 creditors were initially invited to attend, most had been paid and only a few dozen turned up. There was probably more media personnel in attendance, to be honest.
The creditors that turned up asked for a creditors committee to be formed. I don’t know the exact purpose of such a group, but I imagine it will be to keep creditors informed as to Saab progress as they continue their reconstruction efforts.
By all accounts, it sounds as though the creditors in attendance were quite positive about Saab’s future and willing to support their continued efforts.
Saab also lodged a reconstruction plan with the court and you can view it (in Swedish) here as a pdf file.
If any of you Swedes can summarise the document for us, it would be much appreciated.
One thing I was able to glean from it is some immediate production planning:
There’s also a mention there of what looks like a ‘breakeven’ point at around 130,000 vehicles and a plan to sell around 150,000 vehicles by 2011. Remember, here, that Saab’s best ever sales for a year happened just a couple of years ago, with around 135,000 vehicles being sold, so this plan is reasonably ambitious.
Then there’s this forward planning:
That first lot looks like it’s production in Sweden and the second lot is vehicles that will be developed in Sweden.
It looks like the immediate future is concerned with the 9-3, 9-5 and 9-4x and the lack of a 9-1 in that planning might be disappointing to some, but existence is more important in this situation, I guess, and if the 9-3 is proposed to be smaller, then that might go a long way to satiating the desire for a throw-around Saab.
All in all, it’s been a great morning in Sweden for news, then.
Here’s to the future!!
——
UPDATE:
The latest summary from TTELA:
The reconstruction can continue
Vänersborgs District Court announced BY TWELVE time to Saab’s reorganization will continue, but only until the May 20. A creditors’ committee is appointed, and this included the representatives of the creditors are General Motors, IAC Sweden, Tax and a staff included.
The media interest was very high and reporters and photographers took up several rows from the floor in Vänersborgs kommunhus when the creditors’ meeting took place during Monday morning. The representative of the creditors took up a handful of rows with ten seats on each. The massive influx of over 1 300 creditors did not happen.
President of the Court of Cecilia Tisell started to go through what is applicable to today’s meeting. That creditors may request that a creditor committee is appointed. Creditors can also make a requirement that it be terminated, if they do not believe in the new reorganization plan.
When the creditors’ meeting was closed after just one hours, none of the creditors’ representatives demanded that the reconstruction would cease. In contrast, the number who felt that a creditors’ committee should be formed.
by Swade
April 6, 2009 in Archive
Darn this daylight savings change. The meeting has already begun.
You can listen to proceedings on Swedish radio here (thx Dippen)
The comments so far:
* According to news in Swedish media now, documents at the court reveals over 20 “active” interested buyers.
* Saabs debt to GM is bigger than noted in previous documents. Then it was said to be 6 billion SEK. Now it is said to be 9.6 billion SEK.
* There are some 1,300 creditors, but according to journalists only something like 10-20 are present at court this morning.
* From TT
Rolf Åbjörnsson, a lawyer representing Saab and Opel dealers, think that the whole process is very strange given that GM has settled most of the liabilities towards creditors.
- The question is what it is to be reconstructed when the liabilities are largely paid for. There is much that is odd about this. Maybe it is all about buying time and to put pressure on the Government,” he told TT.
He is in favor of a continuing reconstruction, despite earlier expressing criticism at the administrator Guy Lofalk.
- Whatever he says in there, I as a representative of the Saab dealers want the reconstruction to continue.
Hans Renman, representing three foreign and two Swedish suppliers, points out what an unusual reconstruction this is.
- I don’t know about a similar process where you get paid during the reconstruction. My clients are of course happy because they have been paid for basically everything, but they are also anxious about how Saab sees the future and therefore it should be interesting to hear the reconstruction plan.
Thanks to commenters who have posted so far.
——
From TT
…… the media interest is very large and reporters and photographers took up several rows. The representative of the creditors took up a handful of rows with ten seats on each. The massive influx of over 1 300 creditors did not happen.
President of the Court of Cecilia Tisell started to go through what is applicable to today’s meeting. That creditors may request that a creditor committee is appointed. Creditors can also make a requirement that it be terminated, if they do not believe in the new reorganization plan.
——
Live update from Dipper:
one creditor from Saab Sales – he asks for a creditor committee should be put in place
now a creditor from the swedish tax office (the gov)is asking: ” we want a creditor commite and the reconstruction should continue”
The union is asking to be part of the creditor committee
Paul Åkerlund from IF Metall will be part of it, Anette Hellgren also.
breaking news: Magna Styer wants a creditor committee also
——
I’ll be keeping an eye on the news services, but any live updates you can post here would be much appreciated.
The low turnout from creditors is encouraging.
by Swade
April 6, 2009 in Archive
All is quiet, eh?
The only piece of news that matters today is the creditors meeting that’s due to happen in just hours from now. I’ll probably be asleep when it all goes down so I’ll set up a “make your own news” post for any updates that the Swedes can provide.
There has been an article doing the rounds via AFP today, and it sums up the situation quite nicely.
STOCKHOLM (AFP)–Creditors may seal the fate of beleaguered Swedish car maker Saab AB (SAAB-b.SK) Monday when they gather for a court hearing to determine if the group’s legal restructuring process can continue.
Some 1,300 creditors have been summoned to the hearing in the Vaenersborg district court in southwestern Sweden, Swedish news agency TT reports.
Now, as I mentioned over the weekend, the vast majority of Saab’s creditors have already been paid, so the original list of 1,300 creditors has been reduced to a large degree. Furthermore, there’s a huge list of creditors that are due to be paid tomorrow, so they should be quite happy at the moment as well.
There’s still going to be a few, however, and amongst them will be the Swedish government and General Motors themselves.
Back to AFP:
The company’s days could be numbered if any one of them opposes the restructuring process that Saab launched on Feb. 20 to stave off bankruptcy and become an independent unit after it was dumped by its owner U.S. car maker General Motors Corp. (GM).
“If a creditor demands (that the restructuring process be halted), the court has to decide whether to do so,” one of the court’s three judges, Cecilia Tisell, told TT.
The court’s decision would then be based on whether Saab’s survival plan looks realistic.
“We can halt the restructuring process if we find that the aim is not being achieved,” she said.
The thing that worries me is that Swedish government have said all along that they’re not willing to support Saab directly because they don’t believe in Saab’s chances of making a profit. Maud Olofsson has been quite explicit about this, saying things like “if General Motors can’t make them profitable, then how could we be expected to make them profitable” or words to that effect.
So if the government still doesn’t think Saab have a realistic chance, this is their opportunity to say so and effectively wind up the company. I don’t believe that’s going to happen, but I’ve got to recognise the possibility.
A lot will depend on the plans that are presented by Jan-Ake Jonsson and administrator, Guy Lofalk. They’ve been working away for six weeks now, fine tuning Saab’s future and preparing the company for new ownership and I’m quite sure that Jan-Ake would leave no stone unturned.
AFP again:
Should the court find against Saab, the company would either have to declare bankruptcy or find a buyer.
The reorganization is a Swedish legal process headed by an independent administrator appointed by the court who is working with Saab management.
The process allows parts of Saab to survive and could enable suppliers, who would lose all the money owed them by the company if it filed for bankruptcy, to get some money back by agreeing to accept partial repayment.
So, we wait and then wait some more.
April 6, like February 20, could be another red letter day in the modern history of our favourite little car company.
Let’s just hope it’s a good one.
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