This is a new insight....
Gulfnews (of all papers) has a story I haven't seen anywhere else about Saab being sold and in that story they mention the following:
The second potential bidder, Renco Group of US investor Ira Rennert, is heavily opposed by Sweden's unions, the sources say, given that any deal would raise suspicions about a short-time financial investor trying to dismember the carmaker in a bid to sell its profitable parts, such as Saab's renowned turbo technology.
Whilst Saab claim that all potential suitors have seen and committed to their business plan, and have professed a long term interest in Saab, the unions obviously aren't buying it.
This has been a concern for a number of people on this site as well, though it hasn't figured as prominently as Renco's environmental record. I guess it's par for the course when it comes to companies that specialise in investment rather than specialise in cars. Renco, despite having several companies under their wing that deliver hard goods, are seen in this light.
We don't know the preferences of the management but maybe they have a similar fear and therefore the mysterious third bidder is back...
Sorry for this pessimistic words, I got so enthusiastic yesterday when I was reading the Autocar article, but what if we are just dreaming? Come on JAJ, give us the name!!!!
Per Eklund's 9-3 took bit of a hit in a rally-cross race during the weekend
http://www.mtv3.fi/urheilu/ralli/uutiset.shtml/arkistot/ralli/2009/06/894443 (play the video..)
Whatever you think about any of the contenders I doubt if any of them are there in for the short term.
Koenigsegg are the favourite from an emotional (and my) point of view - they are enthusiasts and Swedish to boot. I really hope they have the backers for the $$$. Re Renco they seem to have arisen from a different paradigm - they be looking to a future with a different perspective.
Others also all make a lot of sense to me - Microsoft/Gates - electronics, Virgin/Branson - alternative fuels, Norwegian oil $$- what's going to happen when the hydrocarbons run out? - and who knows what else.
There has got to be great future for Saab in all this. Wow if only they could all get together - what a team!!
Just be grateful that there there are several interested players who recognise Saab's intrinsic value. Its got to be easier being a niche R&D/base player without to many of the legacy costs and a small production requirement cf.a monument that has to just churn out great volumes of production to breaK even!
cheers
GB
AND If there would have been any real conserns from the unions well then Paul and Anette from IF Metall and Unionen would have stood up and made complaints and not expressed their STRONG support for the Saab management and smiles regarding the suitors.
Saab Will get an owner and a good one too.
I am also increasingly concerned that Saab will actually end up with Renco. I would certainly prefer Koenigsegg.
Nevertheless, I very much doubt that Renco would buy Saab with the aim to dismember the company. In fact, when reading the mission statement on Renco´s homepage, I become more optimistic. If relying on the mission statement, then I would not be so concerned about Renco acquiring Saab. In fact, it sounds like a serious long-term investment company that would retain existing management and stick to the business plan. But, of course, I don´t know if the mission statement is actually true:
"The Renco Group has chosen to acquire companies for cash and generally retains existing management with incentives. Each company is separate, and management enjoys significant autonomy. The Renco Group is a long-term investor and supports capital investments at each of its companies.
The Renco Group measures its operating companies by more than their financial successes. Many Renco Group-affiliated companies operate in industries that, though they supply minerals and materials crucial to our daily lives, have the potential to impact the environment and communities that surround them. The Renco Group is committed to ensuring that each of its companies has environmental responsibility as a top priority."
I find it very interesting that Renco has kept completely quiet throughout this.
And further down: "Many Renco Group-affiliated companies operate in industries that, though they supply minerals and materials crucial to our daily lives, have the potential to impact the environment and communities that surround them (like Doe Run Peru)."
I think that if minister Maud Olofsson agrees to one of the top ten polluters in the World as the Saab buyer, she's politically dead. And I don't think she will let that happen.