UPDATE:
“I can’t comment now, but there will definitely be an announcement later today,” says Spyker CEO Victor Muller to E24.
——
UPDATE:
Trading in Spyker shares has apparently been halted.
——
UPDATE:
Victor Muller, quoted by Reuters:
“Negotiations are ongoing and the spirit is positive, but we are very, very tired,” Spyker chief executive Victor Muller told Reuters while in Stockholm, where he is holding talks.
“It is such a complicated transaction. It’s not for no reason it has taken so long. It is extremely technical,” he said. “It can go either way, but you can rest assured we are doing everything to close the deal.”
——
UPDATE:
E24 have spoken to Jan Nygren, the former politician and Saab technology head honcho, who was one of the bidders along with Hakan Samuelsson.
Apparently he’s still willing to have a crack at Saab should the Spyker deal fall over.
I should add at this point that I got a quick message from Lars Carlstrom, point man for the Genii group, after their press release came out last night. He indicated that Genii were also willing to re-enter proceedings if Spyker cannot close the deal. If I can read between the lines, their concession yesterday was more about their own late entry, and a realisation that Spyker are the ones to get this done. It’s not that they can’t do it, but they were very late to the party.
——
UPDATE:
Dealer call for 13:00 today has been postponed.
——
UPDATE:
I love it when the Swedish press interview one another.
Robert Collin appears at Realtid.se, giving Kudos to all you Saab Support Convoy types, and other campaigners too, for letting GM know that shutting down Saab wasn’t going to be that easy.
——
UPDATE:
A freshly tanned Maud Olofsson says “we didn’t do it” about yesterday’s frenzy.
In E24….
Maud Olofsson would not confirm that the government decided to guarantee for a loan to Spyker. Nor does GM give any information.
- We have not updated us on the settlement and we have no settlement to present,” said GM Chairman Ed Whitacre in GM’s press conference in Detroit on Monday evening.
Any information about Saab’s fate came not from the government during Monday afternoon.
- One thing I have learned of the tours around this – it is not done until it is finished, “said Maud Olofsson
That last bit’s definitely true.
Ain’t over til it’s over.
——
So here we are again, waiting for the white smoke.
Dave R figured that the original red Keep Calm poster might be wearing off on people and forwarded this image.
Do as the lady says, please….
——
You can bet your bottom dollar no news services will be premature in calling it as ‘done’ today, eh?
It ain’t done until we see the press release.
I’ll keep updating this post with new news items as they come to hand, along with a little perspective where I can.
——
The first report of the day comes from Dagens Industri, who claim that things were all ready to sign when GM halted proceeding at the last minute in an attempt to squeeze a little more cash out.
To GM at a late stage re-addressing the funding issue can be in accordance with a DI-source due to the U.S. biljätten drive “an ugly game” to the very last attempt to bring up the price.
Whilst I’m no GM-fan, I don’t think this is correct (or the real meaning has been lost in translation).
We’re in the Stockholm phase now. The prices were most likely set before negotiation moved to here. This is about finalisation, IMHO.
We’re not over the line, but it’s close.
Victor Up!!!
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I much prefer this new graphic.
Very calm.
Love the new pic.
Hoping for good news, but staying calm and waiting for it…it will come.
Waiting to see who dares to come out with a “Saab sale done” headline today…
Still calm.
Wasn’t it suppose to be a phone conference with dealers today at 13:00…?
Well…
She looks quite Swedish, doesn’t she?
With this picture, I’m happy to wait a few more hours
Right… I’m so calm I forgot that.
Go VM Go, close the deal finally!
Dunno, them new graphics made me heart pumping… Calm down not applicable.
Now it start to happen. Spyker cars trading is halted in amsterdam stock exchange…
new Saabs?? =)
http://www.spyker.com/
Too early again, now trading is again possible…
Saw the Same red H = Halted at the Euronext website, but now changes of the stock price occur permanently and it seens to be trading…
Actually, let Ed have his day.
We don’t want anything to detract from our press conference.
Great tan, Maude, now get back to work.
I wonder what happened in Stockholm. I do not believe that GM would start discussing the price again, this late. And most of the papers, I am guessing, could/should be signed by now. Otherwise they would probably not even have moved discussions all the way to Stockholm.
My fear is that the Swedish Gov is creating trouble by not being as “smooth” as they could be. I am hoping that this isn’t the case. However Maud Olofsons is bad news, and she really really really doesn’t like Saab. If Saab was sold, she would look really stupid (considering all the negative things that she has said about Saab as a company, about Saab cars, Trollh
Damn, that girl is hot! Looks very Swedish. Graphic is much better than the old one xDDD
Please GM, sell Saab!
Griffin Up!
Belgium politicians would like a Spyker owned Saab to be moved to Antwerp:
http://www.realtid.se/ArticlePages/201001/26/20100126080623_Realtid497/20100126080623_Realtid497.dbp.asp
one of them was even a Chevrolet Saab….
In this complex affair both sides want to be 100% sure that they don’t make any mistake before signing the contract. So, maybe everything was planned to be settled yesterday, but one side wanted to have an extra check on some detail which delayed the whole thing. It could be both GM and Spyker that wasn’t sure, so we shouldn’t speculate and blame GM for this. It’s big money involved here and no error is allowed.
So I think that for yesterday’s circus there is no one else to blame except the media for broadcasting this news.
Just re-posting my comment under a thread that has already died:
If there was more time… Antverp could serve in future as a 9-1 production plant (something Volvo had in Holland – Nedcar, where they made 400 and s/v 40 series. Now it seems impossible as the only business plan that can be accepted by EIB, Swedish State and EU is linked to Trolhattan plant.
Also to start in Belgium, they would have to remove all tooling from Sweden, buy licenses to built current Saab models from GM (or glue saab-spyker logos on Opel Astra bonnets).
I think, Belgian Government tries to show their citizens that they care of employment by showing good will to solve the problem with Antverp plant.
But this is totally unrealistic solution. Not at this point of time
I think Euronext should halt the spyker stocks. But on the other side, Frankfurt did not do such a thing during the VW-Porsche saga.
The problem with Anverp is that everyone has overcapacity. At least in the auto industry nobody needs an extra plant.
My question is, has GME simply closed the plant, or are they willing to sell it to somebody?
I doubt whether the 9-1 is part of the business plan, but that car is quite a long way away. As you said, too late for Antwerp.
Victor commented on the 9-1 earlier. He believed in a 9-1, but it was not included in the current business plans and it was needed to attract extra money for development. His main focus is start producing the 9-4x and the 9-5 and introduce the new 9-3 in 2012
While I cannot name the source I’d like to pass this:
I have a friend who works at SAAB UK. He sais (quote) “we had a press release on Monday telling that Spyker have bought the company!”
Maybe one of your contacts can confirm this, or not.
Kray
Belgium goes on the offensive this may affect “the Maud decision”. They offer no guarantees to a company not stay in Sweden. Thank you “Antverpen”.
NOT!
Spyker Do it!!
Sure GM will try to sell the plant. They have great experience selling assets…
Belgian politicians could have tried to talk to VM, and maybe did that, but I think that moving the production to Belgium is far from realistic, not because I would love SAAB to stay in Sweden (as I said before and repeat again Sweden or at least Swedish government don’t deserve to keep SAAB) but because it is not realistic. Such adventure would be death sentence for SAAB. Money and more importantly time (which SAAB is getting short of more and more) needed for such a move is what SAAB don’t have now.
I just hope that this wasn’t the reason for delaying the contract (by making Swedish government nervous and therefore not willing to guarantee EIB loan; and GM not believing in such adventure and therefore asking extra questions)
Think Swedish government needs more time. Spyker and GM came and are very close to each the deal. GM even has been in Amsterdam before both parties went to Stockholm…..
GM reminds me of a spoiled kid.
I’m so tired of the circus regarding the sale of SAAB. And I only own a SAAB car that I happen to like. I can’t imagine how the employees must feel!
To all employees at SAAB; Keep up the good work! I’m holding all thumbs for a happy ending.
Oh, right! Is it a picture! I was just wondering why the mirror reflection didn
I refuse to believe that government has got cold feet and is the reason for this.
They had an extraordinary meeting yesterday and was ready 15 minutes later, imho, there was no case (deal) to decide upon.
On the contrary, Maud would like to be in the spotlight and say that she saved both Swedish taxpayers’ money and the workers jobs in Trollies.
She and her party really needs to survive the election this year.
The “Antwerps Havenbedrijf”, which handles most industrial land in the port of Antwerp, has a pre-emption on the GM factories in Antwerp.
On behalve of the Belgian community, I appologise! This proposition was made in the Belgian Parlement by a member of the opposition and is not considered by the governement. Although it was a creative and positive proposition in favour of the Antwerp factory, we al know that it makes no sense to devide the plant in Sweden,that does not run on half its capacity. The theoretical capacity of Antwerp is 400.000 cars a year! This is stupid and anyone with a little common sense knows that.
Everything was ready yesterday to sign the contracts etc.. but due to a problem ??? the deal hasn’t been signed.Let’s hope it is a problem that they can find quickly a solution for.They need to do the deal this week.
I fully agree with TML : this should not be considered as a serious proposal. Just populist opposition talk during the Opel-debate in the Flemish Parliament.
the conference all is postponed
Short info about R.Collin. He is mostly know for turning the Merc. A-Class upsidedown in a so called “avoid crashing into a moose test” in 70kmh back when the Merc.A was new.
In the latest issue of the “Aftonbladet Bil” they tested for the best 4wd winter/family car. 9-3X performed among the best but was turned down with only a two out of five in final grade. Only becouse the uncertain future of the company. Sad.
On the other hand: the Flemish gouvernement has always said it would put 500 mln
Can’t see any logic at all connecting Saab and Antwerp? The Saab facility is self contained and produces cars of the highest standard why would you mess with that after moving 9-5 and Cab lines into Trollsville? The interesting one for me would be if Spyker would move the production to Trollhattan? They are currently moving to Coventry in the UK.
Cred. for him though Merc actually made a lot of changes on the model just becouse of this prooven instability. He’s an autojounalist by the way.
Just heard this on the Radio:
(Google-translated)
Negotiations for Saab Automobile between General Motors and final speculator, Spyker Cars, continues in Stockholm. Spykers CEO Victor Muller says the echo that he has been working all night to reach a settlement.
Jan Andersson reports
Echo overall reporting on the Saab
“We have worked through the night, without interruption, to get everything clear,” writes Victor Muller in a text message to echo in the morning. “Now we wait and see,” he adds.
Negotiations are therefore in Stockholm. According to Dagens Industri, they are held in a law firm, and the participants are GM’s chief negotiator and the Dutch sports car manufacturer Spykers led by CEO Victor Muller.
The plan was that the whole affair between GM and Spyker would have been presented on Monday. But after GM once again questioned the Spykers financing plan, the plans were shelved.
Spykers CEO Victor Muller has thus then worked through the night. GM’s top management is in Detroit, six hours after the Swedish time.
According to various media reports, the plan itself that Spyker will go in with about half a billion crowns. The remaining part, SEK 2.3 billion, giving GM a loan, in the form of preference shares.
In addition to the purchase price is the loan from the European Investment Bank, EIB, to 400 million euros a major part in financing for Saab to develop new car models.
The EIB has so far not given any notice of Spyker get this money.
What will happen today, Tuesday, is very unclear, although the 3 500 Saab employees hope that the deal should be ready soon with all signatures.
Source: http://www.sr.se/ekot/artikel.asp?artikel=3397362
Terrible is a very smooth word, when it comes to describe how we feel about the whole situation!
One day you lift your hopes, the other day you are bitten.
It is a very very very untolerable situation.
Sometimes it is getting ridiculous!
I am all fed up!
I have a good feeling about this. I am sure we’ll have a positive outcome, if not within hours then at least within days.
Champagne still on ice and ready to be opened.
Griffin UP!!
i keep repeating myself here, anyone fantasizing about Saab making any model in the Belgium plant is living outside of their shoes.
It is just plain inefficient.
So the conference call to all Saab dealers that was planned at 14:00 CET has been postponed!?!
… I guess that’s good news… or???
(okay, let’s stay calm…)
Well I hope that the Swedes unite and make Maud start looking for a new job!
it has been postponed without a new day and hour…..
Also…
“It was a panic brake in works since GM stopped when questions about the financing come up again.”
So says a source of Dagens Industri after a turbulent Monday, when it was first presented evidence that an agreement would be ready – something later denied by GM.
To GM at a late stage re-addressing the funding issue can be in accordance with a DI-source due to the U.S. car giant plaid “a foul play” to the very last attempt to bring up the price.
It seems however that there is an agreement – perhaps as early on Tuesday – although the harsh negotiations in the final stage.
Boekhoorn denies involvement
Negotiations between Spyker Cars and General Motors of Saab Automobile These include the financing of the purchase will be resolved. Now denies the Dutch investor and multi-billionaire Marcel Boekhoorn that he would be one of the financiers.
In an email to TT with a press release, consisting exclusively of one sentence reads: “Marcel Boekhoorn affirms that he is not involved in the purchase of Spyker Cars, Saab.”
- He makes no further comment, his secretary said to TT.
Marcel Boekhoorn owns 3.84 per cent stake in Spyker and is an advisor to the CEO Victor Muller.
He shuns publicity, although he started a free newspaper and invested in the Dutch newspaper De Telegraaf.
Marcel Boekhoorn has made his fortune buying and selling companies in various industries.
Boekhoorn denies involvement
Negotiations between Spyker Cars and General Motors of Saab Automobile These include the financing of the purchase will be resolved. Now denies the Dutch investor and multi-billionaire Marcel Boekhoorn that he would be one of the financiers.
In an email to TT with a press release, consisting exclusively of one sentence reads: “Marcel Boekhoorn affirms that he is not involved in the purchase of Spyker Cars, Saab.”
- He makes no further comment, his secretary said to TT.
Marcel Boekhoorn owns 3.84 per cent stake in Spyker and is an advisor to the CEO Victor Muller.
He shuns publicity, although he started a free newspaper and invested in the Dutch newspaper De Telegraaf.
Marcel Boekhoorn has made his fortune buying and selling companies in various industries.
I didn’t think the 9-4x was in the business plan either, because it will not be manufactured by Saab. Depending on which bidder succeeded, it was probably option if they wanted to accept the car from GM or not. I’m not sure that all the bidders would have.
Like I said before: I hope Saab lives and stays in TH. On the other hand I have to respond to those who claim Antwerp is inefficient: it simply isn’t the case !!
It is one of the most flexible carplants in Europe (had to be with all the modelchanges the last years) and efficiency/quality is among the highest in GM-plants around the world… The shutdown of Antwerp (where I live) factory is another example of false information by GM… I think all of us here know what they have been saying about Saab isn’t true so why would we chose to believe what they say about Antwerp.
Again: Saab has to live and stay in Sweden, no need to get on Antwerps case; they are as much a victim of GM as any other factory they closed. Let’s hope Saab escapes !!
SAAB UP !!!
Boekhoorn denied already in december. I think the Swedish media yesterday just racked up an old article from december, dusted it off and recycled the name… without new information/references/sources.
…and I do not know if you have noticed but I wrote before that the conference call scheduled for today at 13:00 CET has been postponed “as there is no updates to share with the dealers”
I think it would be interesting to get CJ’s view on this development. He probably has a clue of what is actually going on as he most certainly has experience from this kind of business.
So if understand the report from Swedish Radio they have been hammering out a new proposal during the night and now they wait for GM decision makers to wake up in Detroit and hopefully give their blessing?
Then, if the proposal is approved, they will need to get the Swedish Government back together again for a new cabinet meeting.
Since they missed the set timeline of yesterday every step may take a little longer now I guess, since they need to get the parties together when they are available.
Maud will does SAAB shoot away. It isn’t nice dream ….
Spykers Up, Griffin Up,
Folk of Sweden Up. Don’t give Up.
where is the efficiency to move a model from a plant where it is build with its ‘brother’ model, to a plant with no relatives. Not mentioning the main market… I am not disputing the efficiency of the belgium plant, i have no knowledge about it, so i take other peoples words for it. I am just disputing the business model for moving it from one plant to another.
I just hope that my prediction will not come true. For a few days ago I predicted that no one at GM would dare to sell SAAB now when winding-down decision is in place. Everybody is afraid that Spyker will not have muscle to drive SAAB on longer terms and the SAAB problem would smashed back in GM’s faces again.
I am afraid that this is a reason why these repeated questions about Spyker financing are back on the table again and again. One would think that the financing question is solved at the beginning.
I am afraid that the whole SAAB sale circus was a game for the big Ed to show that he was thinking on GM’s and SAAB’s best. Not after he is crowned as the King of GM he couldn’t care less.
I am afraid that the outcome could be that GM doesn’t think Spyker has enough financial muscles now when the Ed is installed.
I am affraid…. But I hope that everything above is not true.
@ anne
“…But after GM once again questioned the Spykers financing plan, the plans were shelved. Spykers CEO Victor Muller has thus then worked through the night.”
I tend to agree with Swade that at this stage it is unsual for GM to raise the price issue again. But on the other hand, if the GM negotiator feels that he can squeeze another 20-50 millions out of Spyker, why he wouldn’t do it? GM can raise legal or finacial issues after every new proposal/solution is coming from Spyker. Spyker will react and try to vanish or minimize GM concerns, maybe with a little more money? It is a cruel business world out there…
Anyway, I really admire VM’s willing to buy Saab…he must have great visions and confidence in Saab!
Let’s keep our celebrations and the champaign in the fridge until GM (or Swade) anounces the closing of the deal.
Not a millisecond before that happens!
That’s not serious!!!!
And makes me feel quite pessimistic. How many times are they willing to question Spykers financial plan?
In the end when all this is over and saab is back doing cars that we love, it just might be the Swedish governments hardball approach against GM that gives Saab the conditions needed to be successful.
Later when the books are open on this whole process, it will be interesting to se what was really going on…
Yes, you’re right.
Would say, await info till wednesday.
(Most likely, the next 20 hours.
Latest by the end of the week.)
We’re at 90 to 95% chances for a positive outcome.
Until then we know what to do
Again, I don’t want Saab to be moved anywhere !!
I just don’t like it when people bag my town. The drama in Antwerp is just as big (6.000 jobs on the way out…) as it might have been in TH – let’s hope they come out of all this a bit better ! Just as they did with Saab GM didn’t exactly paint a realistic picture in this shutdown, that’s my main point – don’t believe everything (or should that be anything) they say to be true !
I can see the business sence in it (albeit not for Saab as they don’t need the capacity) as the Flemisch gouvernement has always stated (and still do) they have 500 mln
I admire Maud. She has been protecting tax payers money all the way. The Swedish government has put a lot of pressure to get a trustworthy business plan and that plan is now being used by Spyker. If Maud had not been so stubborn, we might never have been this close to a deal.
Swedish government has been acting as expected in a non socialist country.
Nonsense, why are they (GM) doing all this? What’s the point in not selling eventually? If they close it means a whole lot of more money plus further damage to reputation. Or, is someone specifically paying for their stage play to never end??? I tend to think that one of the differences between American and European culture is that American system is much more straightforward and direct. Less hesitation, more definiteness. Well, our beloved Generic Motors are the exact opposite for that! If I hate their way of act(ing), what would US people have to say to this? I think this company with this culture of management is simply NOT viable in America, nor in the rest of the World. Now, everyone seem to know their disability to succeed, but they are still allowed to dispose over such huge national asset.
Thought you’d like to see a little more of the “Keep Calm” girl:
http://cdn.shopify.com/s/files/1/0001/8314/products/KEEP-CALM-AND-CARRY-ON-YELLOW-HOODIE-GIRL_large.jpg?1260794236
As a community, albeit an online one, that’s had to deal with run-downs in production and uncertainty for several years, we can definitely sympathise, B.
However, the prospect of moving Saab to Antwerp makes absolutely no sense at all. I can’t believe it made it this far through the comments thread, really.
I hope something works out for you Belgians, though. My wife was born there and still has lots of family there, so we’re always watching Belgian news.
Well, why… Maybe you are right. I just feel that it is most likely not about “extra cash” at this point. It is just a feeling I have, nothing that I can confirm.
It just strikes me as to late for that kind of discussion. They are already in Stockholm, they are in the final hours so to say. It doesn’t make any sense to start talking about (more) money once again that late. GM could by doing so risk pissing VM and Spyker off, not to mention the Swedish Gov and then where would GM be?
IF GM wants to sell, and let us still believe that they want to, they also need to be a little careful.
So, I feel that if they questioned the finances yesterday it would most likely be because they found out something about Spykers “new investor” that perhaps lead to new questions from the GM HQ.
And if questions (suspicions) were about the new investor (s finances) it would also make sense that Spyker had to perhaps rephrase/rewrite the offer to GM in order to “calm” GM.
Well, I am hoping. Don’t get much work done today.
70 dollar per person in a year that the money maude protect for us ..she have distroied saabs selling totaly by talking it down.ofcourse our socialdemokrats have fix this deal for us as they always have helpt the swedish people
Marcel Boekhoorn explicitly denies (again) that he is funding the deal:
http://di.se/Avdelningar/Artikel.aspx?ArticleID=2010\01\26\368927§ionid=BilMotor
In the light of the Keep calm and Carry on Mantra: There was never a going to be a deal yesterday. It’s only because of the irresponsible press people that started drawing their own copnclusions from two not related facts, i.e. the press conference being announced yesterday (the coronation of Mr. Ed) and the ongoing notion that VM and GM are “close to a deal”.
All the excitement and dissapointment after yesterday wouldn’t have been necesary if the press would do what they’re supposed to: Report the news as it happens (and not reporting news that hasn’t happened yet)
Jeeeeeee…….
What Maud forgot when she claimed that she was protecting the Swedish tax payers money is that Saab employees, Saab employees families and friends, Saab suppliers, sub suppliers and people without any obvious connection to Saab (as a company) ALSO pay tax. A lot of tax. And that the Swedish car industry is 18% of the gross domestic product.
I find it very difficult to understand how anyone can admire a minister whom so openly has shown a disinterest in Saab (and Volvo for that matter) and the people (and tax payers) affected by Saabs existence.
She will not be around as a minister, or leader of the center party, for much longer. Regardless of what happens with Saab. That I am sure of.
Yea right! Always kept the Swedish people happy! God Irony…
Up SAAB!
Up Maud!
UP Spyker!
Well, Maud could of course have spent a few billion kronor to provide some artificial respiration for a year or so, but that would not have made much of a difference for the people in Trollh
Newest from VM.
http://www.reuters.com/article/idUSSAT00832420100126
Maud has acted very strange all the time, especially in the beginning of this process. Instead of putting focus on the positive aspects of Saab she kept talking about Saab not building cars that people want to buy, Saab being loss-making for a long time and she even argued with J
Maud is both a wonderful as well as talented woman. I hope Ed Widdleaway brings her aboard the GM team.
Heck, he’s not moving to Detroit, so why couldn’t Maud help run GM from Sweden?
I can see it now, turning Chevy plants into windmill factories………..
*LOL*
According to Dutch media VM confirmed today the the acquisition process at this stage is ‘unpredictable’.
Whatever the outcome, GM seems not to care about it employees, best interest of Saab, or whatever interest than cash. Hope that at least they realise that they are embarassing theirselves. If not, they deserve mor managers like Ed ‘Trojan Horse W.
Damn, it’s sooo frustrating this. Hard to keep quiet and carry on!
The only way is…. Griffin Up!
I agree with you. What she is doing is defending the political ideology that the Swedish population agreed on almost four years ago.
I hope this deal goes through and that we will have a fully independent Saab. Own by players on a free market and not by neither a company owned by the american government nor the swedish government.
@SaabAdr, if Victor is cited correctly word for word it seems like he is less optimistic than during earlier interviews earlier this week.
@Lars S, despite ones believes about Maud in this deal she is a real professional compared to the Socialists spokesperson in this matter who is more than willing to spend others money and to guarantee everything just to win some cheap political points (and he actually looks like a rumpnisse). The worst thing for Sweden right now is if the Socialist is to win the election! (sorry for the OT)
The only real news we’ve had today, that isn’t media speculation or rumours from sources of various dubiousness, is the text message this morning from Victor Muller to Swedish Radio:
)
“We’ve worked through the night, without interruptions, to get everything ready. Now we have to wait and see.”
So everything is ready. VM has done what he could (and can hopefully catch some sleep now). What they’re waiting for is reasonably the reaction from Detroit to the new details they’ve worked out. When can we expect Ed & Co to give an answer? Well, even if they start working at 8 AM sharp, they’ll still presumably need a few hours to examine the new deal. Maybe 11 AM Detroit time is the best we can hope for?
In other words, I might as well leave off the F5 key for now, and try and get some work done while I can.
The only real news we’ve had today, that isn’t media speculation or rumours from sources of various dubiousness, is the text message this morning from Victor Muller to Swedish Radio:
)
“We’ve worked through the night, without interruptions, to get everything ready. Now we have to wait and see.”
So everything is ready. VM has done what he could (and can hopefully catch some sleep now). What they’re waiting for is reasonably the reaction from Detroit to the new details they’ve worked out. When can we expect Ed & Co to give an answer? Well, even if they start working at 8 AM sharp, they’ll still presumably need a few hours to examine the new deal. Maybe 11 AM Detroit time is the best we can hope for?
In other words, I might as well leave off the F5 key for now, and try and get some work done while I can.
Let’s skip the political mud slinging and focus on the deal. The Government have stated that they are ready to sign off the loan guarantee the moment there is a deal to consider. That’s what matters now, not whether the blue team or the red team would have handled this better.
Josimar, I think you’re wrong about the plans for yesterday – that no deal was intended. I think a deal was indeed planned for yesterday. All players were neatly lined up and clearly the press had been briefed to what would happen from all the different parties (Gov, GM, Spyker). But for some reason GM did a last second change (again) and it didn’t happen.
Now it will probably take a bit longer to close, since the interested parties need to be available for decisions on an ad hoc basis instead of according to yesterday’s script.
One thing that I’m very curious about now is who is financing the deal. Marcel Boekhoorn has again denied involvement and the Russians are supposedly out of the picture.
I am a democratic socialist myself and being that I disagree with you.
However, I don’t think a political discussion is what we need here at SU, so I will not go any further in arguing about this. I believe that one of the strengths of SU is people with different backgrounds and different political preferences coming together working/hoping for a common goal.
I know that I can be held responsible for starting the argument that I hereby try to end and if you think that that is the case I am sorry.
The political discussion ends here. – SW
I wonder who stopped the transaction yesterday? People negotiating on behalf of GM in Stockholm or GM headquarters in Detroit.
My guess is GM headquarters!
That means that the poeple in Stockholm will need to go through the material and then the headquarter needs to give thumbs up.
But this mean that the Swedish government will not be able to look at the new proposal until tomorrow!?
Please stop calling Maud names (except for Maud). What she has done or not done is not important right now. In a few months there is an election and that is the time to deal with that.
Right now we need Saab to survive.
I wonder; if the financier is not Marcel Boekhoorn, then who is it? There was talk of American money…?
Please Ed, sell Saab.
This waiting is hard, very hard. And when it’s hard for us outside SAAB I really do wonder what a hell SAABs employees must live through, I guess this is a situation you can’t get used to.
Just wanted to send a warm greeting to all people at SAAB, you are not alone!
SAAB UP!
Victor Muller UP!
J
+1
What I don’t really like to read, is that VM is getting tired…
GM is probably as much as sensitive to pain as a dinosaur…
I can fully understand VM and I hope that he stays tenacious and GM sells Saab at the end of the day!
Copy & paste from googlenews, you need to subscribe to see more, so I cannot: Anyone having more details???
Spyker set to announce Saab buy, Swedish TV says
European Rubber Journal (subscription) – ?7 minuti fa?
Stockholm (Reuters) — Spyker Cars NV is set to announce the purchase of Saab from General Motors Co., and the Swedish government has agreed to guarantee …
NULLA TENACI INVIA EST VIA
My new guess is that the deal wasn’t done yesterday. It was just pure speculation by the scoop-hungry journalist Jan Nylander at Swedish Television that started all the rumours. As I said before, it is an extremely complicated affair with hundreds of contracts that need to be sorted out and signed. So, GM is probably not wanting more money, they just need everything signed and sorted out and probably Victor took the whole night just getting himself informed in certain issues regarding certain contracts. That’s my guess. The devil’s in the details. We probably have a deal or a non-deal in some hours or by tomorrow. It will not take longer.
I’m afraid that these are old news (yesterday)…
European Rubber Journal? Haha.
Must be yesterday’s news. Don’t worry. Look at reputable sources instead.
Looking at
http://www.gm.com/europe/
for some news…
Ironically they have (sometimes) a 9-3 SS at their front page and a 9-X Biohybrid on their news page…maybe Nick Reilly wants to keep Saab..LOL
I don’t think it was Detroit that pulled the plug yesterday. Assuming that Monday’s schedule was indeed orchestrated to announce the deal, then the parties were to hand their proposal to the Swedish govt first, who would then approve it in the meeting at 14:30 Stockholm time. That’s 8:30 in Detroit, so it’s unlikely that Ed and his goons would have had time to go through the paper work and give approval before that.
So presumably, the local GM team in Stockholm had a mandate to work out the deal and hand it to the govt on their own. Detroit would only chime in at the final stage, for the actual announcement. But for some reason, the deal couldn’t be completed, so Mortar Maud and her merry minions were never given anything to approve, and Ed suddenly found himself having very little to say at the press conference.
Today, in the new negotiations, something has probably changed which calls for renewed approval from Detroit. If they and the Swedish govt can do their respective things simultaneously, to save time, or if Ed has to graciously nod his head before it can even be submitted to the govt is anybody’s guess. But I don’t think it’s entirely out of the question that we could still get an official announcement today.
I don’t think it was Detroit that pulled the plug yesterday. Assuming that Monday’s schedule was indeed orchestrated to announce the deal, then the parties were to hand their proposal to the Swedish govt first, who would then approve it in the meeting at 14:30 Stockholm time. That’s 8:30 in Detroit, so it’s unlikely that Ed and his goons would have had time to go through the paper work and give approval before that.
So presumably, the local GM team in Stockholm had a mandate to work out the deal and hand it to the govt on their own. Detroit would only chime in at the final stage, for the actual announcement. But for some reason, the deal couldn’t be completed, so Mortar Maud and her merry minions were never given anything to approve, and Ed suddenly found himself having very little to say at the press conference.
Today, in the new negotiations, something has probably changed which calls for renewed approval from Detroit. If they and the Swedish govt can do their respective things simultaneously, to save time, or if Ed has to graciously nod his head before it can even be submitted to the govt is anybody’s guess. But I don’t think it’s entirely out of the question that we could still get an official announcement today.
The amazing thing is that since both GM and VM are in talks, and VM is exhausted, that means that GM must be too and yet they’re still at the table. Hats off to the GM negotiators for sticking with the sale process. I hope they see it through.
>European Rubber Journal? Haha
Funny, isn’t it?
Anyway it says “(Reuters)” which is not the least one but I “Keep Calm & Carry On” (the nicer last version)
Griffin UP!
“A Saab Is Forever” (Me)
Hum… I’ll keep calm and carry on as long as she demands me to….
However… that picture of the lovely lady is not very fair to our lady friends who visit SU. But on the other hand.. I am VERY OK with NEVER seeing that phrase on some dudes speedo.
Okay, one for the ladies!
http://cdn.shopify.com/s/files/1/0001/8314/products/KEEP-CALM-AND-CARRY-ON-MENS-HOODIE-GREY_large.jpg?1260794236
Spyker negotiators are tired and we’re exhausted.
I wake up tired every morning.
A complex transaction; what an understatement!
LOL, I was almost afraid to click on that link… but like a train wreck… I just had to see.
Comment removed. Commenter contacted.
The political discussion has ceased.
Didn’t do much for me either!
GM aawwww…all the litle respect i had for that 100 year old company that are part of the furniture here is gone…im sorry but they make that sale far too more complicated for me..i dunno what they are playing but it sound like a big joke to the world. pathetic they are…im sorry im a little angry this morning…
Steven,
Would have prefered to answer you by email, but as I don’t have it, here goes…
I’ve been driving Saab since the day I got my license in 1994 (started vith C900i, SPG – which I still have, NG900T16, 9-3 SS Aero), my father drove Saab since 1984. My brother and sister drive Saab and to be honest: I would rather drive a bike then buy an Opel.
Been to the factory meeting in TH 3 times and in 03 I drove my brand new Aero back to the factory, mainly to check 9-X in the flesh at the museum.
So it should be clear I’m a Saab fan (freak, according to my friends) all the way, all I was trying to say is:
- we don’t believe GM in their statements on Saab, why should we trust them on Antwerp ?
- 500 mln
There’s an article in today’s luxemburgish most read newspaper that Genii is out, but they never lost in interest in Saab.
Like Swade already said, Genii feels that Spyker is getting Saab, but they won’t retreat completely out of sight.
Hey, B.
No problem here. I understand your reactions completely.
I just said I was surprised as staying in Trollhattan, staying in Sweden, is so important for Saab’s identity as a company. That’s why I didn’t understand why the discussion had made it that far.
As I said, I hope something works out. Really do.
BREAKING: Trading of shares in Spyker Cars NV is halted at the Amsterdam Euronext Stock Exchange.
Euronext Website
Spyker trading halted in amsterdam, is there something happening soon… Has been many minutes already:).
In the morning Probably it was temporarily halted for short time because volatility was too high. But now it stays halted
Something must be going on, since stock trade in Spyker in Amsterdam is suspended since 13:44…
… waiting for information…
@ Markac
Yeah, you did what was fair and equitable… so lets not find that speedo wearing person..I’d hate to pour drain-O on my eyes this morning.
OK, back to the Sale… VM has earned a lot of respect and visibility during this deal. I hope that he keeps Saab on track and that Saab and Spyker both can prosper from this deal, should it close in our favor.
Hum… a 9-3 “Freedom edition” convertible offered in some exclusive colors…
This is getting quite hard to bear. I have strong faith that we are going to be celebrating this week.
Victor deserves utmost respect – I guess GM’s negotiators almost as well. Though devil is in the details, this just can’t go awry. Too much at stake.
Saab up!
Oh dear, that’s the best we can get? Boo!
Having Victor Muller say that he is tired, even though I know he’s been up all night, worries me a great deal. This constant shifting of the goalposts is ridiculous in any situation. I just don’t understand GM’s purpose in this, unless it is a long-winded way of saying they acted in good faith.
…and just as i post I read that Spyker trading has been halted….golly gosh!
GM have not – like VM – been up all night for revising the bid again again…
What does it mean when trade is being suspended? High volatility, ok. Other reason might be that insider information is suspencted to have been leaked. I am not aware that trade is suspended pending announcement of important news.
Grrrrrrifgin up!
Spyker up up up!
Victor up!
Don’t know about in Europe, but here in Oz I’m pretty sure it can be, and is, stopped for important announcements that may effect trade in those shares.
Olav, thank you!
By visiting this site , I’m sure the most of us employees have discovered that we’re not alone, and it feels great.Actually a unike and totaly crazy level of support.
I only hope that we can stand as strong and support you in the same magnificent way if your company are threatened like ours are now.
Work is still going on, and we WILL build cars to your taste. This will end up nicely, if you ask me!
Reden om te onderbreken: in afwachting persbericht
Reason to pause: Upcoming press release
Now I’m really, REALLY curious!
Reden om te onderbreken: in afwachting persbericht
Reason to pause: Upcoming press release
Now I’m really, REALLY curious!
I am almost sure that Reily would be happy to keep Saab if he could (US Govt and GM US won’t let him)
As I already have written he’s good at reconstruction work (made Daewoo a much better looking Chevrolet and tripled the production). Maybe if he was in charge of GM Europe for the last 5 years Saab would be a profitable brand? I really admire work he’s done with Daewoo. Nobody wanted buying those dated and ugly cars and now they seem to be really good value for money choice. And in Eastern Europe they are quite popular, many of them serving in company fleets.
Sorry, forgot the link:
http://www.afm.nl/marktpartijen/default.ashx?documentid=13198
Sorry, forgot the link:
http://www.afm.nl/marktpartijen/default.ashx?documentid=13198
Oficial PDF from Euronext
http://www.euronext.com/fic/000/054/967/549673.pdf
Hmm, intriguing – either way, this is SIGNIFICANT. Hope it’s paving the way for a positive announcement.
Other thought was how current shares held by Russian parties can be ‘sold’ to more GM-palatable shareholders without massively distorting share price etc. Maybe this is the next step and reason for suspension?
Had about 8 hours sleep combined since last Friday due to work commitments, family crises and RSI on ghe refresh – can’t take much more!
A stock becomes halted when it is pending either very positive or detrimental news. A halt is placed on a security for anywhere from thirty minutes to several days to seize trading activity and give investors an equal opportunity to view the major news release before trading may resume.
Source: http://www.stockhalt.com/how.html
Same in Europe…the administration of the stock market must know about these announcements (bankruptcy, mergers etc) some time before it gets public so that trading can be suspended…it is for the protection of the investors.
Hope the announcement is POSITIVE!
reason why it stop…press release soon!! ..hmmm we shall see
OMG I have chewed my nails so much in the last month that I am down to the elbows (figuratively speaking of course). The drama here is WAY better than watching the Oscars. I dont know how to feel right now. Off to take a shower then maybe some good news when i get back.
Griffin Up!
Strange,
It wasn’t Spyker that requested a trading stop, but the authorities (Autoriteit Financiele Markten -AFM). So, whose gonna do the press-release? The AFM, GM, Spyker or Saab? Looks like it’s going to be AFM???
The suspension is a request of the regulator, not Spyker – is that important/negative/normal?
Dunno. The suspense is however unbearable.
It’s on the regulator’s request which might mean that ann increase of the share price with 75% requires further explanation of the company, especially since a lot of rumours are circulating.
I am therefore not sure if this is an indication that something is going to happen shortly. Would have been different is Spyker had requested for a suspention…
Saab up!
It is normal. So it means nothing, could be positive or negative.
I am not at all surprised that GM-Spyker talks take so much time and that VM is really tired.
Just imagine a fight between VM + few more people against an army of GM managers, advisors and lawyers. Seems like David and Goliath fight.
Thanks, LANA, it is good to hear that your spirit lives on – it really is
Cheers from Norway
-Olav-
Always on the longest road home when out there with my SAAB. Always!
It is normal that the stock exchange stops the trading in a company if something major is going to break. The companies can’t do this themselves.
Trade suspension are mandatory when important news on corporate structures/finance is likely to break.
The Spyker stock shot to
Perhaps the suspension will go for some time, then, until explanations are garnered/annoucenment made…
This is being so hard… VIKTOR UP!!! GM SELL, dammit
As for the Swedish part: Slathering the national industry ASSET is one of the greatest (historical) sins a leader can do to his/her country. IMHO.
http://www.e24.se/business/verkstadsindustri/spyker-handelsstoppad-pa-borsen-i-amsterdam_1818709.e24
http://www.afm.nl (financial marked authority) says:
http://www.afm.nl/marktpartijen/default.ashx?documentid=13198
In short: reason of suspension: waiting for press release.
From Bloomerg, today!!!:
General Motors Co. is close to announcing a deal to sell its Saab division to Spyker Cars NV, said a person familiar with the negotiations who asked not to be identified before an official announcement is made.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aFgIO.Jg5dJo
Lets hope not, Poor Swade already has an IV of coffee and red bull….
Zippy has no fingernails left and I am not getting any work done….
I personally like calling most politicians names
However, whatever the alternative would be to Maud, if the election went the other way, would be far, far worse -as impossible as that might seem to a non-Swede. (At least the right wing is not TOTALLY against enterprise.)
Announcement from Spyker will be coming soon. AFM (dutch financial authority) has halted the trading on request of Spyker, they will publish a press release regarding the sale soon.
100% increase of share price: since the markets are always right, this can only mean: good news ahead!
Can’t stand this any longer, my boss neither!
Come on Spyker!
The FIAT manager Sergio Marchionne is right now in the Hotel in Stockholm as Victor Muller. There is a automotive meeting with Sergio as well as Marc Wallenberg (investor) as speakers. Is Victor also speaking?
From di.se
And even if there is a transaction between GM and Saab Spyker if he is hesitant.
“I like the Saab, it is a good brand. But it’s very difficult to make money by niche players.”
Marchionne lets not particularly hopeful for Saab’s future. Above is the cost of developing new products that are difficult to manage. Marchionne talking about huge sums of money needed.
“If I am right in my perception of the industry and what it takes to develop vehicles in the future, I think that the marginal players will become increasingly marginalized.
The FIAT manager Sergio Marchionne is right now in the Hotel in Stockholm as Victor Muller. There is a automotive meeting with Sergio as well as Marc Wallenberg (investor) as speakers. Is Victor also speaking?
From di.se
And even if there is a transaction between GM and Saab Spyker if he is hesitant.
“I like the Saab, it is a good brand. But it’s very difficult to make money by niche players.”
Marchionne lets not particularly hopeful for Saab’s future. Above is the cost of developing new products that are difficult to manage. Marchionne talking about huge sums of money needed.
“If I am right in my perception of the industry and what it takes to develop vehicles in the future, I think that the marginal players will become increasingly marginalized.
I hear ya! Really can’t take much more of this…getting to bed until after midnight every night just in case and too many “email breaks” at work every day…Then again, this is GM [argh]
We are ALL waiting for the press release!
Agh, can’t take much more, my guess is that it is about an investigation into share price activity, not a Saab related announcement.
Worry then is that will become a regulatory-led process and delay further negotiations or give GM an excuse to pull out! Hope not (remembers KeepCalmGirl!!).
Sorry, request in stocktrading is NOT halted on request of Spyker as I mentioned earlier.
“Jag kan inte kommentera nu, men det kommer definitivt ett besked senare idag”, s
“Jag kan inte kommentera nu, men det kommer definitivt ett besked senare idag”, s
Just a googletrans from the announcement:
AFM imposes trade Spyker Cars N.V. quiet
26/1/2010
The AFM announces that it has a designation given to the following commercial interruption: Issuer: Spyker Cars NV
Financial instrument: shares
ISIN code: NL0000380830
Reason to pause: pending press release
At the request of market operator / firm: No
Date: January 26, 2010
From: 13.45 hours GMT
Until: further notice
I wonder if it will be timed for GM to make the press release just as the US markets open?
Sam Kekovich: “Islamabad? Of course it bloody well isn’t.” I love that stuff. Nice touch with the crest looking like a bbq.
I still think that the financial strength of Genii would have been a good complement to Spyker’s bid. Oh well.
If Muller worked all night then deal is very close, aimed for today if GM ok’s it. Naturally GM might again reject it and demand changes, but I hope those are only minor details.
I dont think GM makes total U-turn at this point, their public image has already taken bad hits and they are at their very limit of becoming a story’s villain for general public. If deal fails, secrets are out and GM gets dirt all over.
Well now I’m definitely not getting any sleep.
Belfast_Saab: I thought it would be procedural but the E24 articles suggests otherwise. Then again, the Swedish press wasn’t too reliable last night, hope it’s not another false alarm..
Ahem..Swade…you’re rather quiet…
http://www.bloomberg.com/apps/news?pid=20601087&sid=aFgIO.Jg5dJo&pos=6
Oh, the suspence…
“Later today” probably means it will come out after the market closes (4 PM EST).
Swade is not quiet. He updates the begining of this thread while we ar F5-ing to see the end.
Just open SU in 2-3 separate windows to be up-to-date (-:
On DI
Spykers Spokesperson: Can not say
2010-01-26 14:30
“We will be able to give more details later, but right now I can not say anything and I can not guarantee that I can say today,” said Mike Stainton, spokeswoman for Spyker Cars.
TT: Is the suspension of Spykers shares on Saab deal?
“It is a conclusion that you are free to do, but nothing I can comment,” said Mike Stainton.
Spykers shares went up immediately on Tuesday morning, but has since fallen during the day.
Have a good flight, Ladies & Gentlemen!!!
Bloomberg are quite reliable, aren’t they?
Swade,
I agree completely !
Let’s hope this suspention of trading turns out to be what we have been praying for / working on for the last months !
Offer for a couple of beers still stands (and we’ve got some good’uns;-))so when you’re visiting the in-laws and in need of some time-out, just give me a hollar.
SAAB UP !!
I was thinking “later today” was Stockholm time, once the euro markets closed….
trade in spyker has been stoped at 13.45 to wait further pressreleases, acc to the dutch afm
Just waiting, like everyone else.
And yeah, Bloomberg have been champs in the last few months.
Mike Stainton, spokesWOman for Spyker Cars
Very reliable
Bloomberg broke the news on the 18th December that the talks had failed.
They were right then I hope to god they are right now!!!
Griffin UP!
Bloomberg cites source!!
GM close to announcing sale of SAAB to Spyker Cars(14:00)
http://www.bloomberg.com/apps/news?pid=20601087&sid=aFgIO.Jg5dJo&pos=6
Nah, he just seems calmer than last night (tho that was some wonderful madness). I just hope he has news we don’t
Google translate doesn’t seem to translate all Swedish sites though.
My guess is that VM is on his way to the saab museum to polish the spyker car, so it is in mint condition for the press conference.
This IS exiting (understatement of the year?)!!
As said before, nothing is done until Swade, VM or GM says so!
Still Calm and carrying on (and waiting for the press release!)
From e24.se
“Notifications will later today”
Can Saab affair to be heading towards a solution? Saab prospective buyer Spykers shares trading was halted on the Amsterdam Stock Exchange in at 13.50. “It will definitely a statement later today,” said Spykers CEO Victor Muller to E24.
Trading halt was initiated by the Authority. When the suspension was the share price of 3.91 euros, up 2.8 percent.
- I can not comment now, but it will definitely a statement later today, “says Spykers CEO Victor Muller to E24.
Earlier on Tuesday, the shares fell back sharply after Monday’s sharp rise.
As recently as just after 13 o’clock said Spykers CEO Victor Muller to TT in a text message that: “There is no news right now.”
Negotiations will still run. One of the main issues is how to finance the purchase will be resolved.
This morning, said the Dutch newspaper Het Financieele Dagblad that Belgian politicians are trying to attract the Dutch Saab speculator Spyker to move production of Saab’s Trollhattan to Antwerp, reports TV 4.
In Antwerp there is an Opel factory of General Motors (GM) will close in June. A Dutch-Belgian company vehicles would then create and save 2 500 jobs in the Opel factory.
Spyker would get more than one billion crowns in loan guarantees. The proposal comes from the Flemish parliament party Lijst Dedecker.
From e24.se
“Notifications will later today”
Can Saab affair to be heading towards a solution? Saab prospective buyer Spykers shares trading was halted on the Amsterdam Stock Exchange in at 13.50. “It will definitely a statement later today,” said Spykers CEO Victor Muller to E24.
Trading halt was initiated by the Authority. When the suspension was the share price of 3.91 euros, up 2.8 percent.
- I can not comment now, but it will definitely a statement later today, “says Spykers CEO Victor Muller to E24.
Earlier on Tuesday, the shares fell back sharply after Monday’s sharp rise.
As recently as just after 13 o’clock said Spykers CEO Victor Muller to TT in a text message that: “There is no news right now.”
Negotiations will still run. One of the main issues is how to finance the purchase will be resolved.
This morning, said the Dutch newspaper Het Financieele Dagblad that Belgian politicians are trying to attract the Dutch Saab speculator Spyker to move production of Saab’s Trollhattan to Antwerp, reports TV 4.
In Antwerp there is an Opel factory of General Motors (GM) will close in June. A Dutch-Belgian company vehicles would then create and save 2 500 jobs in the Opel factory.
Spyker would get more than one billion crowns in loan guarantees. The proposal comes from the Flemish parliament party Lijst Dedecker.
Yes, Bloomberg have been reliable.
I also like the fact that it is “Jeff Green, Michigan” at Bloomberg writing the blurb, not Kinnander in Sweden.
Michigan is where the decision is made…
Do we have clearance Clarence? Roger, Roger. Give me a vector Victor.
Yes.
Have you seen something?
“We will be able to give more information later, but right now I can’t say anything, and I can’t guarantee that I’ll be able to make an announcement today,” says Mike Stainton, spokesperson for Spyker.
TT: Is the suspended trading of Spyker stocks because of the Saab deal?
“You’re free to draw that conclusion, but I can’t comment,” says Mike Stainton.
http://di.se/Avdelningar/Artikel.aspx?ArticleID=2010\01\26\368948§ionid=Ettan
“We will be able to give more information later, but right now I can’t say anything, and I can’t guarantee that I’ll be able to make an announcement today,” says Mike Stainton, spokesperson for Spyker.
TT: Is the suspended trading of Spyker stocks because of the Saab deal?
“You’re free to draw that conclusion, but I can’t comment,” says Mike Stainton.
http://di.se/Avdelningar/Artikel.aspx?ArticleID=2010\01\26\368948§ionid=Ettan
>Bloomberg are quite reliable, aren’t they?
Rapport is also usually quite reliable, but when it comes to the GM-Saab-deal I trust nobody before all contracts are signed and locked in some safe place.
* Fingers crossed, fingers crossed, fingers crossed, fingers crossed, fingers crossed, fingers crossed, fingers crossed, fingers crossed, fingers crossed … *
I will feel better knowing a joint announcement is to be made by GM and Spyker. Somehow got some discomfort if Spyker or GM is the only one making a press statement. Or is this just me? Very very stress again… sigh..
Updated Bloomberg in Biz Week:
http://www.businessweek.com/news/2010-01-26/gm-said-to-be-close-to-announcing-saab-sale-to-spyker-update1-.html
Is it really time for this???
Please (press)release me!
LANA, you at Trollh
Only source we can trust, SNN (Swade News Netowrk)
and
MSNBC ( Mr. Swade kNows ‘Bout Cars)
Yahoooo!!! SAAB Independence Day (from GM)!!! Yeah baby Jan 26! Go Victor!
This video at 0.24 sums up the whole situtation. But with a yes of course at the end of this drama.
I’m listening to hi-energy music all the time like We will survive by The Warp Brothers, i love that title.
It
I’m feeling the positive fibe now!
SAAB UP!
SPYKER UP!
“Tower this is Ghostrider requesting permission for a flyby……”
Lets spill some coffee on the nonbelievers !
http://www.youtube.com/watch?v=35IHKSE8doc
The excitement got me there!
“An announcement may be made as early as late afternoon in Sweden after an agreement is final”
)
Hmm, maybe I wasn’t so far off with my guess earlier of 11 AM Detroit time. Still, I didn’t take my own advice. I haven’t stopped F5-ing and I haven’t gotten any work done. Prospects for the rest of the afternoon are also bleak…
“An announcement may be made as early as late afternoon in Sweden after an agreement is final”
)
Hmm, maybe I wasn’t so far off with my guess earlier of 11 AM Detroit time. Still, I didn’t take my own advice. I haven’t stopped F5-ing and I haven’t gotten any work done. Prospects for the rest of the afternoon are also bleak…
This is going to be a 400 comment post…I can tell…Goodnight and Godspeed Mr Muller! (and GM!)
Yeah, I already canceled some scheduled work till this afternoon….
The time for that sign was December 18. Hopefully you can stash it again, good though.
Same here, and I guess this goes for thousands of other readers. Going slightly mad here!
Ha, I’m doing it for the fun of it! (no big wages here…..) But if you’re happy, I’m happy.
I hope it
My company diesel got frozen so I was supposed to stay at home and work. Didn’t even try to start MS Excell today. The only open window is an Internet browser.
Please make an announcement soon so I can do some work at night!
I’ve got a few spare F5 keys – and I’m willing to trade them for 1000 Spyker shares
Haven’t done much the last few hours and my F5 key needs to be replaced, again…
Lean back and enjoy the ride…
We won’t get too excited after yesterday, won’t we?
For all people at the Saab factory in Trollhattan:
Left or Right wing politicians. Booring subject on this forum! Stop political discussions, please!!! Focus on Saab!!
di.se
GM: We have nothing to share
2010-01-26 14:55
Although the Saab owner General Motors, it is silent on Tuesday after Spykeraktien stopped at the Amsterdam Stock Exchange.
“We have no information to share at this time,” says John McDonald, spokesperson for General Motors, told TT.
As before, he refers to that GM will announce any news about Saab deal on their website.
This is a tremendous place to be in.
Thank you Mr Swade and hats off for you!
@ Tompa..
UGH, you just had to go and ruin it…you had to say “daughter kind of a way”… now I feel like a pervert, because that is someones daughter.. LOL
but I agree… I am willing to bet we have some very attractive lady Saab drivers around here
thanks for keeping the humor here, we all kinda need it today as we wait for news.
anyway… we’re off topic again… no need to upset the gatekeeper…
My thoughts about the situation, (In Swedish)
http://nordas.wordpress.com/2010/01/26/spyker-nara-att-slutfora-affaren/
I
Someone please shut those Belgian Opel workers up. If you need something to do go and work at a chocolate factory as Belgium makes the best chocolate in the world! ;o)
Am not kidding about that best cholcolate part.
Griffin Up!
SAAB UP UP UP!
VM Up!
Is 17:30 the magic time again ?
A bluetooth remote controlled F5 device with Saab logo should be included in 2010 accessories/gifts catalogue of Saab
But if they wait until market close, why was it important to suspend the shares?
A nice little hat-tip it would be, but would it then be necessary?
Oskar: There’s one mistake in your article. The Dutch government isn’t involved in possibly moving to Antwerp (Belgium). Some Belgian politicians have said this in the media. I don’t think anyone would ever consider moving production to Antwerp…
http://www.bloomberg.com/apps/news?pid=20601087&sid=aeUAVT.iSQK8&pos=6
And still, I don’t trust GM HQ for a second…
They are the true reincarnation of Evil, with a black hidden agenda only devils and vampires understand.
Don’t forget what our first reaction was when Spyker came into the picture : total disbelieve it could lead to something viable.
Lets just hope I’m so wrong….cause I’m sick and tired of it.
Made that comment too, but on Oskars own site.
Sometimes they are afraid the news leaks to the media or people involved might buy or sell stock ahead of a news conference.
My guess it that a decision has been made (positive or negative) but they need some time to finalize stuff like press releases.
Just imagine a Euro-mob of SAAB owners converging in Spyker HQ in Holland and Opel in Antwerp if that were to ever happen. Not a pretty sight.
Griffin Up!
… waiting as all of us.
Because the rumours are so strong, it would still draw speculators to the share. That would cause a hause on Spykershares, and that’s something the Financial Authority always want to prevent. Hence, a trade-suspension.
very usefull now : http://www.myrefresher.com/
Trade suspension is due to coming press release. It is stated (see my post above) officially so It has nothing to do with Spyker shares prices ups and downs.
Announcement can mean anything, and may simply be poor translation from some source. All we know is that Victor will say something later. It may simply be “we aren’t finished yet”.
I think there will be a shortage of F5 keys in the computer stores all over the world after this amazing thriller… as there were reports on shortage of pipe tobacco and elbow patches in Detroit due to the “SAVE SAAB” campaign outside GM HQ :^D
Urgent!
There was a very important announcement made earlier today in Swedish press, involving a car we all love, an American Icon and with a cool Dutchman in charge of the whole deal…
Now what could that be?
Lookie here:
http://www.aftonbladet.se/nojesbladet/article6488175.ab
.
.
.
(A Saab 99 from 1976 will star alongside George Clooney in the upcoming movie The American, directed by Anton Corbijn…)
Kind of glad I am full of meetings today…. I just hope they don’t mind me bring up SU on the big screen and leaving it in the corner during my presentations..
I’m sure they will understand… :\
If so, VM needs to work on his expectation management skills!
SU servers must be smoking right now with all of us F5-ing all the time!
brace for impact…..
as a former stock broker, these developmet are not favorable. the new finaning troubles, the delay, and an after the bell press release…
normally companies share good news before the bell (so shares can appreciate during the day) and share bad news after the bell (in anticipation of a complete’s nights rest would ease the bombshell activity on share price)
I could be wrong, but good news would be a surprise, to me at least.
Tim: Mixed up the Belgian and Dutch people there, im sorry.
As i said, it wont happen. Because then would the whole idea of selling Saab be wrong, just a stupid announcement of a politician once again.
And the very serious newspaper Aftonbladet speculates that Cloney MAY drive the SAAB.. Only problem is Cloney will portray a murderer.. Let’s hope someone else will be driving the SAAB then.. Or is any publicity good publicity?
The statement is somewhat contradictory… it says awaiting press release, but it also stated that it’s not suspended at the request of the concerned parties.
Secondly, I only explained why the trading of shares are being suspended in general.
Great!!
And the 99 was recently bought from a local for the equivalent of 500 Euros
Wonder how much it is worth when George has driven it?
Clooney up!
Wow, a ’76 Saab 99 ! But, who is this Clooney-guy ?
But didn’t Spkyer shares soar yesterday, so points to a favourable announcement?
http://news.bbc.co.uk/2/hi/business/8478524.stm
Come on Swade, offer a prize – first one to F5 Google News, see the GM sell headline and get it on SU!
Puhh, can’t wait any longer.
Haven’t got any work done today either…
I really hope that it will be a positive outcome. Griffin UP!
Might generally be true in normal circumstances, but isn’t is different here since freaking GM is involved here. They are not a listed company and they probably don’t bother about Spyker’s interest. Perhaps the announcement will be made late tonight or tomorrow before opening of the exchange. Although i am afraid it will be made at a moment most convenient for GM.
Anouncing a winddown is generally not good news either, but Spyker has been able to change their minds on thatp part. Would be surpirsed if GM pulls the plug at this stage. Seems to me not negotiating
‘good faith’
Not getting any work done here either and killing my F5 key like everyone.
I hope the fact that they are doing a press release is itself a positive sign. If GM were going to simply go forward with wind down, I think they might simply make the announcement since it is already out there as old news. A press conference or announcement sounds like something more positive is coming.
So I hope this is positive. But the wait is killing us all!
Spyker Up! Saab Up! Griffin Up!
F5 F5 F5
Just a thought – If Saab is the loss making liability GM thinks, why have Spyker shares risen in anticipation of their acquistion? Usually if a company looks like buying a dud their share price falls. It seems it’s not only us Saab fans who think the company can be successful in the right hands.
That would indeed be true if you’d look at it from a Spyker point of view, but if you’d look at it from a GM point of view, you’d announce it when the NYSE opens.
So how’s the weather ?
Can somebody in Trollh
The weather? Actually a big storm is rolling in over Sweden right now!
A bad omen?
JW: Remember December 18th? They didn’t wait for anyone before releasing the press release. Negative news -usually- will be published asap.
Easy stingray…….
apparently it’s just SwedishGrace
http://www.saabsunited.com/2010/01/saab-sale-updates.html#comment-52885
GM is not listed at NYSE.
It is a state owned company.
Something like American Moskvitch or Volga…
O MAN!!!! I was up late last night doing homework. I should of just stayed up for all this. Anyways, I’m excited.
Saab UP!!!
The Clooney-guy got really good looks acording too my wife, i.e. a real SAAB-guy. Think that is all you need to know…
…but GM isn’t listed any more. They would care little about the NYSE and stock prices.
After getting all excited yesterday, remember that this might not be good news on the horizon. Spyker stock might be halted pending a negative announcement. I know I’m being a killjoy but let’s not get carried away. Nonetheless:
Saab Spyker Cars NV up!
F5 down!!
Just killin time…There is no such thing as bad weather only bad cars….( the rest ) For tough weather we nedd tough cars.. Good omen..
????? ?????????
OK so according to my world clock, it is 4PM in Trolhattan with no time yet set for an announcemnt. Are we going to be waiting another 24 hours?
OK so according to my world clock, it is 4PM in Trolhattan with no time yet set for an announcemnt. Are we going to be waiting another 24 hours?
Great, I wish I had a Russian keyboard!
Let’s joke a bit:
VM to his wife (if any): Dear, I bought Saab.
Wife to VM: Finally you got one with a decent trunk!
Perfect build up, VM will stand there telling us the news while a biblical storm is hustling around.
Not directly at NYSE, true enough, but the shares are still available for trading. They’re called Motors Liquidation Stocks: MTLQQ
Note that there IS NO GM stock anymore! That’s also what Ed meant yesterday with ‘going public when the time is right, probably next year’.
The old GM stock (MLTQQ) has actually no value anymore (QQ stands for bankrupt).
This will go down to 0 in the end… Do not confuse these!
Worn out F5 problem…… solved !!!
http://www.panicbuttons.com/index.html
MSNBC is following now too. Story on front page
http://www.msnbc.msn.com/id/35077526/ns/business-autos/
GM driven by panic braking, that explains the erratic movement…
????? ??????????
TO ALL : as we know, spyker offered 325.000 preferred stock to GM ==> GM is interested in spyker’s stock price.
seems you have forgotten Bloomeberg mentioned earlier :
http://www.bloomberg.com/apps/news?pid=20601087&sid=aeUAVT.iSQK8&pos=6
Business Week thinks that the announcement will be sale to Spyker: http://www.businessweek.com/news/2010-01-26/gm-said-to-be-close-to-announcing-saab-sale-to-spyker-update2-.html
Hopefully their source is right!
Motor Likvi-DACIA (isn’t that a Renault, sort of ?)
That would be shares in the new SAAB, not in Spyker. I’d gather GM would not be interested in Spyker shares, obviously.
QUICK CHECK AT THE SAAB MUSEUM JUST NOW:
Nothing to see, nothing to report, no special cars to notice, no press people… Nothing… yet
http://www.dn.se
U.S. data on the Saab: “Understanding near”
Released today. 15:52
A person must be familiar with the tours around the Spyker, Saab and GM says the newspaper Detroit Free Press that an agreement on the sale of Saab Automobile for the Dutch manufacturer, “is near”.
The informant wishes to remain anonymous on the grounds that the agreement not yet signed. U.S. newspaper published the task early on Tuesday morning, local time, shortly after 15 o’clock Swedish time.
Regarding the suspension of trading in the Netherlands with Spykeraktien is now the Dutch Financial Markets Authority issued a declaration which states that the measure has been “pending a press release.”
http://www.dn.se
U.S. data on the Saab: “Understanding near”
Released today. 15:52
A person must be familiar with the tours around the Spyker, Saab and GM says the newspaper Detroit Free Press that an agreement on the sale of Saab Automobile for the Dutch manufacturer, “is near”.
The informant wishes to remain anonymous on the grounds that the agreement not yet signed. U.S. newspaper published the task early on Tuesday morning, local time, shortly after 15 o’clock Swedish time.
Regarding the suspension of trading in the Netherlands with Spykeraktien is now the Dutch Financial Markets Authority issued a declaration which states that the measure has been “pending a press release.”
As I remember correctly the new company will be SpykerSAAB N.V., wouldn’t it mean that the new SAAB shares will be the same as the existing Spyker shares?
This just appeared on Bloomberg.com
Breaking news: The SVT financial analyst is unhappy with the hotel Victor Muller is staying at.
http://svt.se/2.116609/1.1862061/glansa_i_lanta_fjadrar
I guess SVT feel they didn’t cover themselves in glory enough yesterday, so they have to come out guns blazing today as well…
Breaking news: The SVT financial analyst is unhappy with the hotel Victor Muller is staying at.
http://svt.se/2.116609/1.1862061/glansa_i_lanta_fjadrar
I guess SVT feel they didn’t cover themselves in glory enough yesterday, so they have to come out guns blazing today as well…
No. For starters, the total share value of Spyker N.V. is about
Uh….what just appeared on Bloomberg.com?
Later today!?? Ohmygod. Can’t freaking wait. It better be soon. With lots of cameras.
Geez, you’d think they’d pull their heads in and shut up after their stuff up yesterday.
Comparing a hotel room with a charter jet…..sheesh.
What Mark?
It just adds to the irony that the company he’s trying to buy is owned by U.S. taxpayer money. Frankly, as tough as these negotiations must have been, I want VM to be as comfortable as possible!
Googletrans of the hotel article:
Shine in borrowed feathers
Published January 26, 2010 – 13:06
Updated January 26, 2010 – 13:19
How do I get that credibility? Perhaps by showing concern for other people’s money. Especially if you want to use other people’s money. Restraint is then an important key words. When the Dutch Spykers president will be in Stockholm to finally negotiate the Saab’s fate as he draws on properly.
Victor Muller, CEO of Spyker, representing a company that joined with hundreds of millions in losses. He was negotiating to buy the Saab which passed with billions. Spyker plans to buy Saab with borrowed money. Borrowed money secured by the Swedish tax money. Showing he restraint? No – is my answer.
Living exclusively
Victor Muller earns from Stockholm’s most exclusive hotels, the Grand Hotel. A hotel where the Nobel laureates, presidents and rock stars live. From the hotel windows offered a stunning view over Stockholm’s water mirror and the Royal Palace.
One place that traders usually choose the hotel will cost closer to 4000 crowns at night. The amount is of course peanuts in it. The probability that he pays his room deep pocket may be assessed as low. But even if he does so, it is certainly a powerful message he sends.
Popular anger
When the U.S. would bildirekt
It actually happened a few hours ago. Click his name for the story.
I’m beginning to hate the waiting…..
Man your eyes have got to be bleeding by now. It
What a fool of a journalist
I agree. This guy must not have got the memo.
Swing by later on
Is there no time set for a press conference yet? I have one browser window on SU, and another on GMtv. I think I need another on reuters or bloomberg….
Another idiot.
As far as I understand VM is spending his own money, and risking his own money and reputation if the deal collapses. The comparison to US beggars is really strange.
VM if you want a good press in Sweden buy a campervan to travel there.
http://www.freep.com/article/20100126/BUSINESS01/100126015/1318/GM-nears-deal-to-sell-Saab
Oh, OK. I thought it was something more recent. (Didn’t think the link on his name was to an article.)
I’m unfamiliar with Swedish or Dutch tax law, but in the U.S., Mr. Rawet, who complains about the 4000 crowns for a hotel room, would fail to account for the tax deductibility of the room as a business expense.
People who do deals like this do not stay in mid-priced hotels with tourists and their loud children. I’m OK with that.
Let Muller stay at 4000kr hotel room, about 2-3 times more expensive than normal hotel room in stockholm. He is negotiaiting 24hours per day, trying to save Saab, piece of swedish car industry.
Maybe little more respect from Swedish media needed…
I’m going to catch some Z’s.
Alarm set.
Why not a watch a little motorsport while we wait:
http://www.youtube.com/watch?v=he4FlalulV0&feature=player_embedded#
Saabs sweeping the floor with gullwing Mercedes and Porsche.
This possibly is what he is referring to:
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aeUAVT.iSQK8
Nothing really…just Sergio Marchionne putting his two kroner in on something he knows nothing about.
Peter Rawet should be flamed for such an idiotic article. 100% jantelag – Don’t think you are better than anybody else – BS.
Which hotel would have been modest enough? Perhaps a small motel outside the city would have been appropriately “poor” for Mr Rawet.
That piece of journalistic crap should go straigt into his file to be discussed at his annual review with his boss.
Gaaawd!
just had a 17hr work day so tired but continue to tread carefully as GM is not our friend, may have a late change of plan etc
+1
when there are thousands of jobs at stake, all this so called journalist cares about is ranting against a hotel expense. It is everywhere the same sentiment to appeal the jealous masses, who cant even deal with life themselves
Can’t read that word “near” any more. Wanna see an “End”.
Yes, this guy is really focusing on the right issues on a day like this… No wonder they got it all wrong yesterday.
Or maybe it’s sour grapes? Maybe they thought VM promised them a deal yesterday – and then they were the ones who looked silly? This is his little revenge?
And VM would most likely have to start shopping clothes at H&M and furniture at IKEA.
He should not come here and believe that he can achieve something and that he can do something that others can’t. If we can’t save SAAB lying on the lid of the kitchen sofa he shouldn’t either!
I have just F5-ed Reuters: still nothing.
Once you open gmtv you’ll see a happy face of yesterday’s Big Ed. If you go there remember to press pause button ASAP unless you want to listen to him.
Oooopppsss…my bad…wrong link.
Here’s the correct one:
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a9_BtKqN7FDE
Meh. I’ll take what the Fiat CEO has with a grain of salt. Currently he isn’t doing too hot either. Chrysler is in shambles and even Fiat is in the red.
Saab needs to get out of GM. Spyker give funding. Saab launch the 9-5 and 9-4x and have HUGE, I mean MONUMENTAL marketing push to reestablish the brand and the new products.
I cant wait anymore.
Is there or isnt there a press conference scheduled for today at gm headquarters?
OMG. no more fingernails to bite on!
OK I have chewed past my elbow and and half way up to my shoulder. Anyone got any hotsauce as it’s a little bland! LOL!!
SAAB UP UP UP!!!
Do you F5 with your nose from now on , or what?
Swade, I guess it’s too late to ask, you’re probably already snoozing, but – what time are you setting your alarm to? Do you know the ETA of the press release?
Swade, I guess it’s too late to ask, you’re probably already snoozing, but – what time are you setting your alarm to? Do you know the ETA of the press release?
When the US automakers flew their jets to Washington, the House and Senate leaders expressed outrage. The press played their sound bytes, which were then repeated by the press in other countries. There was little outrage among the electorate and the House and Senate leaders never explained why they should fly on private jets, but company executives should not.
Seeing the publicity opportunity, the executives wisely turned the next trip to Washington into a publicity event for future models. Since then, there has been no reporting of how the executives travel to Washington.
The statement will be about the suspension of trade in spyker shares, the talks continue and they feel upbeat but cautious.
being in the final stretch of all this, im honestly prepared for anything.
P in trolly, i think you maybe right, but i hope there will be something concrete announced.
SAABBB!!!!
Marchione is right somehow, from his point of view, taking into account his problems with Alfa and Lancia it can look that niche brands will become nichier. He forgets one thing (just send him a link to Saab Support Convoy stuff): Saab owners = future customers are a different breed of people. That changes a lot.
Here you are: the end of negotiations is near…
http://www.reuters.com/article/idUSWEN898220100126
I fail to see what is so complicated… they’ve been doing this for a year. It will be interesting to see when this is all done what “bs” was so complicated!
http://www.reuters.com/article/idUSWEN898220100126
“They are close,” the source said, adding that an announcement could be “imminent.”
DETROIT (Reuters) – General Motors Co and Spyker Cars NV are close to concluding a deal for the Swedish brand Saab, a person familiar with the negotiations said on Tuesday.
A deal for sports car maker Spyker to acquire Saab from GM could be announced within hours; however, the deal has not been finalized and complications could arise, said the person, who asked not to be named as the negotiations remain private.
“They are close,” the source said, adding that an announcement could be “imminent.”
http://www.reuters.com/article/idUSTRE60M14E20100126
DETROIT (Reuters) – General Motors Co and Spyker Cars NV are close to concluding a deal for the Swedish brand Saab, a person familiar with the negotiations said on Tuesday.
A deal for sports car maker Spyker to acquire Saab from GM could be announced within hours; however, the deal has not been finalized and complications could arise, said the person, who asked not to be named as the negotiations remain private.
“They are close,” the source said, adding that an announcement could be “imminent.”
http://www.reuters.com/article/idUSTRE60M14E20100126
I’m in Stockholm and just a few blocks from Grand Hotel and the offices where they are doing the deal. Maybe I should swing by on the way home and offer my assistans!!!
GM, SELL SAAB NOW and you will never hear from us again…
If they have over 100 contracts concerning licences and such then mere paperwork will take some time.
Then if(IF) the papers are ready then they have to plan media work carefully in advance, who, what, where and how. Press will write it and they want press to write “right things” to optimize Saab sales and GM’s image.
So I would not be suprised if this thing gets delayed another day.
Nope, I have only actually chewed off my right arm, I can hit F5 with whats left of my left hand. Im not that crazy ya know. ;o)
This is AGONIZING! I have butterflies on my stomach.
Ooops, hold on F5………..
Kaiger doesn’t like “near”
How about “close”?
MS Word built-in thesaurus gives us some more options (-:
@ Zippy,… try some mustard… it helps hide the armpit smell..
as we wait… and wait..
This story should be filmed by Hollywood ….. It will win a lot of Oscars …. It started like soap movie, but is going to end as a thriller …
zippy, i know how you feel. i had 8 am classes this morning, and had some monarchs in my stomach the whole class. luckily im back home, but the butterflies have yet to go away.
It is something I have written near the top of this page. There are VM and a few other Spyker people at one side of the table and numerous GM officials, advisors and lawyer at the other.
IT MUST TAKE TIME!
“Bad news come quickly” – old saying
Bloomberg TV has just announced press announcement any moment…
Looking very hopeful they say…
finally GM seems to understand that it is GRIFFIN UP and not HICK UP!
While waiting, here’s a good read to pass the time. It’s a new article on the Swedish Wire about how Swedes fail to capitalize on their Swedishness. Here’s a snippet:
—
For many Swedes the massive global support for the tiny Swedish brand came as a surprise.
While waiting, here’s a good read to pass the time. It’s a new article on the Swedish Wire about how Swedes fail to capitalize on their Swedishness. Here’s a snippet:
—
For many Swedes the massive global support for the tiny Swedish brand came as a surprise.
I actually think a film like that would get bad reviews for being far too unrealistic, with all the turns that this story has taken.
is there anywhere on the internet that is showing the press announcement? is it on gm tv?
A reliable source says we’ll have an answer in 30 minutes.
It sounded positive…I hope they’re right…
ABC news radio reporting now that “GM is close to a deal to sell Saab, a decision could be coming today”
#$%&! I’m leaving for class in 15 minutes. Expletive expletive expletive!!
Bloomberg reported at the Saab factory – says mood very optimistic and announcement in a few minutes..
Hi
My first post here. Has there ever been such a thriller in car history. I wanted to turn on the tv news but I was almost too scared to watch, in case the news is of the negative kind.
Come on now!
GH/Swedwn
Haha, GM probably wants to sell Saab because they’re so sick of us by now
Which is as good a reason as any I suppose!
Oh, and if F5′ing the crap out of SaabsUnited isn’t bad enough, today is a WOOT OFF so I REALLY wont get anything done!! HA!
For those of you who dont know, just go to http://www.woot.com and find out
I should have taken today off!
Just published on De Telegraaf:
http://translate.google.nl/translate?u=http%3A%2F%2Fwww.telegraaf.nl%2Fdft%2Fbedrijven%2Fspyker_cars_nv%2F5883262%2F___GM_verkoopt_Saab_aan_Spyker___.html&sl=nl&tl=en&hl=&ie=UTF-8
I wouldn’t take VM’s comments that “it could go either way” too seriously. I’m not saying that it is a done deal, but what I am saying is the following.
VM has (or had, prior to the Spyker stock trading being halted) the interest of trying to steady speculative trading in Spyker. This is especially important since share issues are part of the bid.
If GM are going to accept shares as part of the bid, they are going to want them to be steady and know what they are worth. I think both big Ed’s and VM’s announcements that “there is no deal yet, things could go either way, we are still negotiating” are probably at least partially true, but in large part also aimed at calming speculation and stock price fluctuations.
I really wish you had not told us about the woot off!!
Now I will not get any work doen today!!!
This waiting is insane! At least I’m a bit better off than Brett, I don’t have to leave for classes for 30 minutes. Still, it’s too close and what if it doesn’t come until later…?
As long as its Dijon mustard, Im not a great fan of French’s Ghetto mustard! ;o) Excuse ME but my armpits dont smell!!
P
Ooops F5 time again…
Griffin Up!
I did and have spent the day hunting down all the Saab news I can find!
Surely GM will finally put us out of our misery today…
Swade! Wake up!!
Probably I good job I didnt, Id be too drunk to read this by now!
Can anyone please wake up Swade, might otherwise miss the party…
Feels like new years eve…. counting until 12..
Wake up
Griffin up
Time to call Swade?
watching CNBC right now. on the the bottom it says Breaking News: GM to sell SAAB.
SAAB DEAL DONE! According to CNBC. Just annouced!
CNBC just announced the deal was just announced! Go SAAB!
For those who read swedish and wants to inflict pain on yourselves, Dagens Industri, in a desperate attempt to destroy Saab, throws in an interview with the boss of Scania where he basically says he wouldn’t want to lead Saab for all the money in the world.
I just don’t get those Idjit journos in Sweden. What purpose can such an article possbly serve?
Nothing on the GM t.v or GM press release.
In seven minutes, the Amsterdam stock exchange closes. Could that be what they’re waiting for?
In seven minutes, the Amsterdam stock exchange closes. Could that be what they’re waiting for?
Where? Link please?
YIPPIE!!!!!!
Press conference 19:15!!!!
http://www.nyhetskanalen.se/1.1470704
Spyker’s PR company is saying we will like the news in their statement today!
Saab History just wrote this.
http://www.saabhistory.com/2010/01/26/saab-history-confirms-spyker-statement-will-be-today/
CNBC is using Reuters news that a deal is close to closing…
I think it’s waise to wait to an official press release from either Spyker or GM before we start running naked in the streets..
@ Zippy… sorry man, no need to get nasty about my comment..
in other news… I see Ford got 1.8 billion for Volvo. I guess that’s why GM has been dragging this out. They are probably annoyed they are getting peanuts for Saab.
Thats what you get when you run something into the ground…
grumpy, most likely cause they were doubting saab from day one, and now they are hopefully finally being sold. they just cant take being wrong.
SAAB UP!!!!
Nice place to hold the press conference. Caf
@Jan, I would be a lot more cheerful if it were Spyker AND GM that were having a press conference together in this matter. But maybe Ed wants all the credit so we can probably expect something from them as well very soon, I hope!
Come one already, my F5 button is starting to deteriorate…… *sigh* patience patience *sigh*
Move Saab to Antverp. Maybe the press in Belgium is better. (-:
Saabhistory’s site must be overloaded. Can’t access it.
Griffin up! Move your mind! Pedal to the metal, leave the General behind!
We’re gonna make it…(I hope!)
19:15!!! I cant wait 1hr32mins!!!
(Starts to chew on left hand now.)
74stingray, no offense taken. Being English I have a thick skin. *hi-5*
VM Up!
SAAB UP UP UP!!!
Griffin Up!
74 Stingray,
CNBC did not use Reuters, they had a breaking news with Phil LaBoad (auto industry anaylst) that said the deal is done. They way he presented was that it was closed, period.
Is Spyker issuing a press conference? That’s not good! It should be GM calling the shots!
.
This really sounds like they’re going to explain why the deal can’t be done.
But I’m usually wrong so go go go
Are we really finally there? I hope CNBC is right, and beyond that I’m contemplating celebrating by buying a new (to me) CPO vert if the dealer can find a few more bucks for my trade. Negotiations are ongoing as you might have heard somewhere else. Let this be true so I can get back to work.
They are/were talking about SAAB/Spyker on Fox Business Right now. Thought you would like to know.
As Patrik said, Caf
17:28 FLASH:Spyker k
I know my friend, no worrys… always fun to pick on each other…
better save one finger to hit F5, unless you’re going to use your nose…
Yeh, CNBC has just said again, “good news for both ford and general motors.”
CNBC will be airing news stories on Ford and GM (saab) in the next couple of minutes…
If someone has Swades telephone number, call him so he dosen’t miss the press conference
NEWS FLASH!!
FROM AFP: Dutch Spyker Cars buy Saab from GM
http://www.foxbusiness.com/story/markets/industries/transportation/gm-strikes-deal-sell-saab-unit/
Bloomberg just announced from Sweden – DEAL DONE!
I was just going by the story on CNBC’s webpage, which credits Reuters..
Lets hope they got it right this time!
Are we there yet? Should I get that drink now?
And did anyone call Swade?
Still no pressrelease at gm.com and this scares me alot. Why whould Spyker call for pressconfrence if a deal is done. Shouldnt it be GM calling for that?
I hope I’m wrong but I get some Nov-09 feelings about this.
@Dan, sorry if I were too cheerful… maybe still too early. But I guess: why would VM wait the whole day if it were bad news?
… and more media are reporting now, the deal is done… All right, still, better wait until 19:15…
… need a (cold) shower right now… and some cold beers…
YES!!!!
GM MUST CONFIRM FIRST OR THERE IS NO VALIDATION!
press conference will be held at 19:15 (GMT+1)
Hey guys nothing official yet hang in there.
It’s been announced on the Dow Jones newswire, too… the deal is done. Where’s Swade?????
Have any of you got a link to nyhetskanalen on-line service?
Or any other place we can watch the conferrence?
Ive been F5′ing reuters and nothing….
No deal until GM says so.
you never know, but look at this: http://www.aftonbladet.se/nyheter/article6493014.ab
If you don’t speak/read swedish it says: Spyker buys Saab.
Oh pls let it be true, pls pls pls!!!
Saab up, just love it. Honesly
Pressrealse 19:05 swedish time, nyhetskanalen.se
LOVELY! Still crossing my fingers tho!!!
SAAB!
I’m still in disbelief. It wont “hit me” until I hear it from Big Ed and friends or Victor Muller and friends. I need confirmation!
Swedish press is running the AFP story. Still no official confirmation, though.
Watch blomberg tv!!!
Keep the bottlecaps on. Keep calm and all that…
http://www.nyhetskanalen.se/
I think this is it boys, a cautiously
YYYEEHAAAA!!!!!
“Aff
While I urge caution without the official press announcements, I also say, where there’s smoke, there fire!
I am constantly hitting F5 on Spykers press release page and GM’s press release page.
I do not believe anything until I see an official press release on there.
ttela.se is also reporting the sale is done…
On Bloomberg TV, at Factory, many happy workers shown coming out saying they are very relieved and happy with the announcement!
))
Do the Deal!
Haha, was I right or was I right? (Or my dad to be honest..)
Greetings from Trollh
Source on the ground in Sweden says it’s done…SOLD TO SPYKER. He’s outside factory now.
Wouldn’t it be cool if some SAAB fans drove their cars to the Opera Caf
Is it finally true?????
I want to hear it from the horses mouth first, my heat can not take it any longer if it is not true.
Is it finally true?????
I want to hear it from the horses mouth first, my heat can not take it any longer if it is not true.
Let’s either wait for a confirmation. It’s GM.
Wait for GM (hopefully we will see something really soon!)
Amazing build up, wow! If I’m really lucky I might get 40 more years riding in Saabs, I had a greatgrandfather that made it to 102!
I actually have tears in my eyes!!!
Same here – but I can’t help but get excited that it’s going to happen!
I wonder what they are talking about on the conference call that I’m on right now…
Come on GM – make the announcement official! I am about to fall out of my chair and then jump up and celebrate.
Go Saab!
I ve got it. I couldn’t find a TV channel in googletranslated page. Thanks!
As far as I can see, everyone so far is quoting CNBC, or someone who is in their turn quoting CNBC. So this could still be premature, if those guys have jumped the gun like SVT did yesterday.
The press release seems to be real news, though, so something is obviously afoot.
As far as I can see, everyone so far is quoting CNBC, or someone who is in their turn quoting CNBC. So this could still be premature, if those guys have jumped the gun like SVT did yesterday.
The press release seems to be real news, though, so something is obviously afoot.
press conference will be shown at:
http://www.rtl.nl/components/financien/rtlz/miMedia/livestream/insb.xml
Here comes Swade’s post…. wait for it!
Aaaach! The tension… we’ve got to organise another global convoy just to get some release! My poor 9-3 CV is looking at me nervously…
This just in…….
Water, wet. Pope, Catholic. Bear, poos in woods.
I, for one, welcome our new ant overlords…
Exactly, You are right. What about the image of Sweden. It’s for the world
ABBA, VOLVO, SAAB and Ice-hockey
And to pump the money to help the workers from SAAB to find a new job is The Government has to support industry.
SAAB up, Griffin up, Spyker up.
Party, my place, tonight!
Story on CNBC tv in about 3 min….
Nicely done!
Sun, rises in east.
I thought he was catholic… now I know for sure…
Could someone fill me in:
This isn’t just like back in Summer 09 with K-Segg was announced? This is more advanced, right? More of a sure thing, right?
Am done work at 2pm. Looks like a champagne celebration after work.
Everything is crossed right now!!
Griffin Up!
our next mission to spyker and saab give Swade a saab 9-5 as a present .He have helpt so mush
I so want to believe this but I am making very sure I don’t get too excited until I hear it from GM too.
I can’t believe there is such emotion around the world attached to the sale of an industrial entity…until a year or so ago I thought I was the only freak that loved a car and it’s philosophy to this degree!
Thank goodness there are more of you out there….please let this be the real deal.
As usual, Swade proves to be the voice of reason. :-p
Well said Swade!
STockholm Saabers…you’ve got 90 minutes to rally to Caf
Hopefully and finally a deal!
Come on GM…brind the funk and confirm the deal!
Pork is pig? Saab is sold?
Di.se says that Spyker have confirmed that they have reached an agreement regarding SAAB. (But they didn’t say what the agreement was; to buy or to close!)
Bloomberg tv said that Saab has been sold but told no source for it. If its false news then it must be new market record.
Nu k
YESS!!! The deal is closed! Spyker buys SAAB! (According to Spyker and AFP).
Swedish di.se are claiming that Spyker has confirmed the deal, no sources though.
http://di.se/Nyheter/?page=/Avdelningar/Artikel.aspx%3Fstat%3D0%26ArticleID%3D2010%255c01%255c26%255c368946%26SectionId%3DBilMotor%26menusection%3DBilMotor%3BBilMotornyheter
I have a numb finger, holding the cork of the champagne for so long.
Come on man, tell the good news so I can release the bubbles!!
Congrats everybody. I think it’s safe to say that now.
Now we can all keep calm and carry on.
Please be calm – no official statement is bound to come out before the press conference at 19.15 CET. Until then…rumours.
This is just too much. All my friends say what is it about Saab? My response is Saab is for people that want something other than transportation from point A to point B. It’s for people that are passionate about their cars.
GM removed that passion. Maybe now we can get that back.
i really hope you get 40 years + withs saab. Tonight let say cheers to that..
I believe the deal has possibly been done, but what i have learned from this hole mess, is to wait – until gm confirs im on stand by, and I will first open the champagne when i hear it fros the horses mouth..
This is all great. I am so excited! I am going to parade the 9-5 around when this gets confirmed! And thanks Swade for being here for us all!
Chris
Next stop, order NG 9-5!
This is just exhausting especially when Saab is part of your lively hood. (SAAB Indy here)Pray that GM has the heart to sell SAAB to Spyker. Thanks to everyone for their hard work on supporting our Iconic brand, especially you Swade.
On Swedish text tv now: Spyker Cars buys Saab (from AFP)
Bloomberg
http://www.bloomberg.com/apps/news?pid=20601087&sid=a00D6U4k.hnk
Swade has a new post up
“Jan. 26 (Bloomberg) — General Motors Co. agreed to sell its Saab unit to Spyker Cars NV, the Dutch carmaker said today in an e-mailed statement. “
Just announced on Bloomberg TV , SAAB sale deal Done !
Greetings to all fellow Saab fans from Canary Islands !!!
Swade just added a new post. I suggest everybody starts commenting there.
The only religion around here is SAAB.
)
Griffin Up!
*nervously hitting F5`over and over and over and over again*
I suppose they won’t be updating any press release page until just before/during/right after the press conference. Right?
It must be, right? I wonder if I should hang out our Dutch flag on the porch?? Sure, it is pitch dark here but still! *lol*
Wait- there is no official statement- like yesterday…
http://www.nyhetskanalen.se/1.1470704/2010/01/26/spyker_cars_koper_saab
Med anledning av detta har Spyker Cars kallat till en presskonferens ikv
To all thanks now on bloomberg acordning to mail Spyker bys saab
To all thanks now on bloomberg acordning to mail Spyker bys saab
Cafe Opera. Beautiful place to make an announcement. If I were in Stockholm Id be there ready to make a heckuva lot of noise pending a positive outcome.
SAAB Up!
The Local is also reporting this as a done deal at http://www.thelocal.se/24604/20100126/
I’m feeling really good right now, really good. Please let this finally be the end of this ordeal, and I’m hoping the Swedish govt doesn’t mess this up somehow. Please!
a link to bloomberg tv please. Can’t find it.
I’ll give Swade a call at 6pm my time, 15 mins before the press release just incase he is asleep still.
I’M GOING MENTAL!!!!!!
It’s more and more looking certain that Spyker finally was able to hit GM’s moving target.
While I am still hedging my bets until the press release, tentative congrats to VM and thanks for all the hard work.
honking “Italian style”…
mh, I don’t recognise myself in it but would do it soooo much!
Don’t forget yesterday…
Keeeep Caaaallllm! Waaaiiit for the preessss rreeeleeaasseee!
Griffin UUUUUUUP!
VM – bring her home, will you?
I am a bit amused by the choice of location, Cafe Opera. This is one of Sweden’s best restaurants/clubs connected to the Opera in Stockholm. Beautiful place though, but far from Trollhattan. Probably they have chosen this place to be close to Rosenbad, the Government Offices of Sweden.
Link: http://www.cafeopera.se/page.asp?pageID=1278
I will be there with my camera ready! If I get any pics I will email them to Swade…
Cheers!
I find it very hard indeed to believe a bad announcement would be done at Cafe Opera! It’s a place for celebrating! Exiting!
Ive been mental for ages. ;o)
Waiting for the official announcement. Will email Ed to thank him if this goes thru.
SAAB UP!
Cork ejected, bubbles are out!
I really wish it
ROFLMAO! Hope you didnt pop your cork too soon.
SAAB UP!
JANUARY 26, 2010, 1:30 P.M. ET GM Reaches Deal to Sell Saab Article
By SHARON TERLEP
General Motors Co. said Monday it reached a deal to sell its Swedish Saab brand to Dutch sports car maker Spyker Cars NV.
Spyker has agreed to buy Saab for more than $74 million in cash, while the European Investment Bank would provide a
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