You are browsing the archive for 2011 April.

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by RobinM

Press Release: Saab Global.

April 26, 2011 in News

Discussions About Sale Of Property Saab Automobile Ongoing

Trollhättan, Sweden: Spyker Cars N.V. (Spyker) announces that the intended sale of Saab Automobile Property AB (Saab Property) is still uncertain and subject to the fulfilment of a number of additional conditions imposed by the European Investment Bank (EIB) on Saab Automobile AB (Saab Automobile), General Motors (GM), the Swedish National Debt Office (NDO) and the Swedish Ministries of Finance and Enterprise.

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Avatar of TimR

by TimR

VA & VM in Stockholm

April 26, 2011 in Uncategorized

We have recieved information that Vladimir Antonov and Victor Muller will be in Stockholm today. We have also heard rumors of a press conference at Grand Hotel today… another day of waiting and hoping…

I’m on my way to Mallorca and then Tenerife after that so I leave the site in the hands of my trusted friends :)

Avatar of Jeff

by Jeff

More from NYC: Saab’s PR Video

April 26, 2011 in News

While this video from Saab PR really doesn’t answer the average SU regular’s questions, it does show some good shots of the PhoeniX, 9-4x, 9-5SC, Independence Edition 9-3 Convertible, and the bustling stand in NY. If you live within 50 miles, it’s worth the drive out, I promise you. It’s nice to hear from Matthias (who has some real fighting words for competitors!), Victor, and Jason, but you also get to see an interview with Andreas Andersson, who I got to speak with on a few occasions last week and impressed me a great deal, and even Swade himself from behind the wheel of the IE 9-3. Nice work, mate!

I’m waiting to hear back from several key Saab people on questions I asked and need clearance to post information about publicly, and when I do you’ll get a final NYC wrap up. Questions ranging from little details like will the 9-3 headlamps have a reworked LED lighting system that also functions as daytime running lights? (yes…) To big subjects like GM involvement on the 9-4x going forward. Thanks for your patience as we and Saab juggle all this information.

Avatar of TimR

by TimR

One more round with the EIB *updated

April 25, 2011 in Uncategorized

(Reuters) – Dutch luxury car maker Spyker Cars (SPYKR.AS) said the European Investment Bank has sent Saab a draft outline of a deal aimed at giving the Swedish car maker a cash lifeline.

“They have sent us a draft, but we do not want to go into the public domain and will not make any comment until this is sorted,” Spyker Cars chief executive Victor Muller told Reuters. “It seems like this is being fought out in the public domain.”

He declined to say when talks between the EIB and Saab will take place again.

Production at Saab has been halted for more than two weeks after it failed to pay suppliers’ bills due to a cash crunch.

A Saab spokesman said on Saturday it was uncertain when it would be able to restart production after the EIB had set tough conditions on the new financing deal. The company has so far refused to reveal the full terms of the deal. [ID:nLAN364334]

A source familiar with the talks had said one of the terms was that the EIB wanted Saab to repay money it had already borrowed from the bank within 90 days of a planned liquidity injection being carried out.

Saab is planning a sale and leaseback of Saab property and had been hoping the EIB would agree with the deal after the Swedish state backed the agreement earlier this month. (Reporting by Aaron Gray-Block; Editing by Dan Lalor)

______________________

UPDATE:

Sweden’s main industrial workers’ union IF Metall said in a statement on Monday that it couldn’t see why there had not been a quick approval from the EIB after nods from both the Swedish state and the debt office.

“What information is the EIB providing? It is said that the terms are harsh. What are the terms? We require information on what this is about. It is time that everyone involved speaks out,” IF Metall chairman Stefan Lofven said.

Carlstrom said Antonov would be meeting with the Swedish debt office on Tuesday regarding his application to take a stake in Saab. ($1=.7158 Euro) (Reporting by Mia Shanley and Aaron Gray-Block)

Original found on Reuters

 

Avatar of TimR

by TimR

SaabsUnited is growing

April 25, 2011 in Uncategorized

I’d like to report that we have now reached 1500 registered users on SaabsUnited. I think this is fantastic! =) We have 1500 people with an opinion that want to be heard here! The amount of users registering is about 5-15 per day so it’s increasing fast =)

Since the hand-over from Swade to the new SU-Crew, the statistics for the first 4 weeks looks good in terms of unique page-views per week (visitors / published page):

Week 12: 147’051

Week 13: 174’581

Week 14: 175’060

Week 15: 190’221

So far the website has had 591’000 visitors in April, and with about 5 days left and a visiting average of 15-25000 visitors per day I estimate that we should reach at least 650’000 visitors this month. An average for the past 6 months have been about 590’000 so this makes April’s number less than March but still a very good month for us! =)

Thanx for reading our articles I hope you will continue to enjoy SaabsUnited and all the great stories and features to the website which we will present very soon! =)

Avatar of Jeff

by Jeff

Guess…That…Car!

April 25, 2011 in Uncategorized

Before things get too heavy in here, a fun little game for everyone. Guess what we have in the photo?

It’s amazing what a few body panels can do to a car. If you want the answer, click past the break to find out.

 

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Avatar of Rune

by Rune

Fat lady has not sung yet

April 24, 2011 in Editorial

A guy familiar to most readers of SU just popped in and left the following comment:

(…)What I can say from on the ground here in THN is that everyone who can right now is working their ass off.

This whole situation feels somewhat reminiscent of the sale process and I’ll say again what I said then – there’s too much good stuff going on here and too many interested parties for this to not work out.

Keep Calm and Carry On.

Here in Mariestad (one hour and fifteen minutes drive from Trollhättan — or two hours if you drive an Ovlov) the clock will strike midnight in half an hour, so I thought it proper to end the day on a positive note.

Best wishes to everyone in Trollhättan! (and Maud, if you are reading this: Just let Antonov in as an investor already! The guy has been waiting for over a year and you’ve had all the time in the world to figure out his intentions and background. Thank you.)

Avatar of Rune

by Rune

Updated: Pay back or else…

April 24, 2011 in News

Reuters reported yesterday that EIB wants Saab to repay the loan within 90 days.

But a source familiar with the negotiations said one of the terms was that the EIB wanted Saab to repay the money it had borrowed within 90 days of the sale and leaseback deal being carried out.

Thanks to WM in the comments section for the tip.

Other media are reporting similar stories, but do not touch on the specifics.

From TTela:

Do you understand why EIB poses these requirements?

– No, it is completely inexplicable. Unless they want Saab to declare bankruptcy, says Carlström.

Update: TTela now reports that EIB wants to terminate the loan.

– We are working with alternative solutions to solve this problem. We have 100 lawyers working with the EIB-question, says Lars Carlström.

Avatar of TimR

by TimR

People at Saab: Kristina Geers

April 24, 2011 in Uncategorized

We’re starting a new feature at SaabsUnited, People @Saab. We think it might be a good idea to know a bit more about the people behind the scenes. We’re starting out this series with a person not very well known to most people, but she is a very important person in Saab, Kristina Geers.

So who is Kristina? Well the official info from Saab tells us that she graduated from Gothenburg University and started her career at the legal department of Saab Automobile in 1997. Following stints as Assistant General Counsel at Saab Cars USA and Legal Counsel at GM Daewoo Europe, Mrs. Geers was appointed General Counsel of Saab Automobile in 2004, heading the legal department of Saab Automobile. Mrs. Geers is married, a mother of two and likes to travel and read.

As many of you might have guessed she is married to Eric Geers who is running the information department at Saab, he is Dutch and the rumor has it they met at work. Perhaps a story for RobinM: It was because of Saab? =)

At home they speak Swedish, although Eric teaches the kids to speak Dutch as well, speaking from personal experience being half-finnish it’s a good idea to know as many languages as possible =)

Very few interviews have been made with Kristina, TTela did one in early november of 2009 which was featured on SaabsUnited:

Everything came at once. A complex transfer of ownership, a long process to get a loan from the EIB and a reorganization of record size. 2009 for the longest time has been more about law than automobiles for Saab.

“There is not a year I would like to redo,” says Kristina Geers, the company’s general counsel who played a key role in all this.

It all began November 8 last year, when the first signs appeared that GM would get rid of Saab. At the beginning of 2009 there were three major challenges – cutting Saab from GM, finding a new owner and getting through a reorganization.

On the workload: “Each of them is a huge process, on top of the regular work,” she said. “We have 30-40 contracts that must be written between Saab and GM. Sure, we realized that there was a complexity, but it’s just taking it step by step.”

On the future: She does not plan to use the experiences of the Saab affair as a springboard to new jobs. “I like where I sit. And when we are separated from GM, I get a more independent role and therefore an opportunity to build our own international network. It will be very exciting.”

 


Kristina has several positions at Saab’s different companies:

- Board-member: SAAB Automobile AB

- Board-member: Saab Automobile Distribution AB

- Substitute for Jan-Åke Jonsson (board-member) in Saab Automobile Property AB

- Substitute for Jan-Åke Jonsson (board-member) in Saab Automobile Tools AB

It’s normal for persons in the top management to be involved in many different branches of a company but this involvement in so many of Saab’s different branches just shows her level of dedication to the company!


One thing that struck my mind as I’m reading about Kristina is that she is at the very top of a major international car-manufacturer and perhaps if she was interested she would make a very good CEO in Saab? She certainly has the legal skills needed, she’s a woman who has reached very high up in her career, been at Saab for a very long time so she certainly knows the company. She stuck with the company in both good and bad times…

A female CEO in a car-manufacturer would attract a lot of females to buy and drive a Saab, lets face the fact, about 50% of the worlds population are women and not one single woman is a similar position in the auto-industry. Sweden is the country which, more or less, the whole world looks upon for equal womens’ rights, Sweden has been an example for many other countries to live up to, so what other country than Sweden would be the perfect place to have the first female CEO of a major car company… just a thought! =)

Avatar of Red J

by Red J

The 9-5 SportCombi back end

April 23, 2011 in Saabology

I think no part of Saab has been discussed so often here as the two back ends of the Saab 9-5 SportCombi.

So maybe to say the last word about it or maybe to distract myself from Ms Eva Srejber, here are two equal pictures of the two back ends both published by Saab.

I like the EU-lights more, but I would buy the US tailgate. My problem is, the recess for the US license plate is two small for an EU-plate :-(

So its good for me not having to take a decision, at least not now :-)

Avatar of TimR

by TimR

Is an American car, an American car?

April 23, 2011 in Editorial

This great story comes from Yahoo finance, a big thanx to Peter from bringing it to us! =)

Over 1 million people are expected to attend the New York Auto show, which opens to the public Friday. The show offers a dizzying array of vehicles to be dissected and critiqued by car aficionados, the media and the general public.

Among all the features being dissected, perhaps the least important is whether the car is foreign or domestic.
“It’s a delineation without a difference these days,” says Jim Resnick, an editor with Yahoo! Autos.

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SvD: Politicians are missing the point

April 23, 2011 in News

The last few weeks I’ve sometimes posted news about what Svenska Dagbladet (SvD) is writing about Saab. Why? Well – after reading many different Swedish news sites it seems to me that SvD is the most balanced one reporting. They are not using bad headlines as DI trying to gain readers only. No, SvD present good facts from all sides.

So, once again I’ve read a post at SvD, this time by Erik Bergin (english translation).

TimR just reported in a previous post here about the EIB and their decision, and this article is also about that, but with more focus on the supplier chain. SvD has talked to Svenåke Berglie at FKG (Fordonskomponentgruppen = Swedish Vehicle Supply Group, a group of companies providing companies like Saab and Volvo with most needed parts).

Several Swedish companies are involved in providing the companies with needed parts, and Svenåke Berglie thinks that the government with Maud Olofsson at the helm of the department of industry isn’t take the risk of Saab failing seriously.

“Behind Saab there is much more that can be affected very hard if Saab fails. Looking at the employment it is much more than only Saab that can be affected,” Berglie told SvD.

My thoughts on this article, which is perhaps not bringing so much more news into to story we all know by now, is that it does point to the fact of what could happen if Saab were to fail. While we’re confident that won’t happen and not wishing it so, if it happened – the consequences would hit more than just Saab, and I do hope that the government are aware of what that will mean for Sweden in the global economic situation we’re in right now.

Saab up!

Avatar of TimR

by TimR

EIB reached its decision yesterday…

April 23, 2011 in Uncategorized

From TT:

The EIB reached its decision about SAAB’s financing Thursday, this was revealed to TT by Eva Srejber, Vice President of EIB. She does not want to comment what kind of implications the decision has.”Normally we don’t comment on or business relations, but in this specific case it is necessary for me to make an exception so that no misconceptions occur.” These misconceptions are partly due to the statement from the head of the NDO Bo Lundgrens comments on his surprise over the delayed decision from the EIB.

“We think that some are trying to help to speed up the process. My feeling is that there is a lot of bureaucracy in the EIB. I thought we would get an answer before the weekend,” said Bo Lundgren to DN.

The fact is that SAAB received a decision Thursday (yesterday). What is missing in the approval is GM, according to Eva Srejber.

If nothing happens this weekend, we will be forced to lay people off, say Svenåke Berglie, CEO of FKG, head of the supplier group for SAAB. According to him the situation is desperate for SAAB.

“Our members are very nervous and are willing to help, but its not only up to us, there are several suppliers abroad as well who are affected. The suppliers have stretched their limits in this ordeal in order to help SAAB. The first step is to let Victor Mullers friend, the russian banker Vladimir Antonov, buy SAAB Property and then lease back the facilities to the company,” he continued.

Lars Carlström, who is Vladimir Antonov’s representative in Sweden is troubled by the comments made by Eva Srejber that it is GM which have delayed the decision. According to him GM has already approved the decision before. We are astounded and do not understand?…

Thanx to Tobias for the heads up! =)

Avatar of TimR

by TimR

SaabsUnited Historic Rally Team Update

April 23, 2011 in Uncategorized

The team has grown somewhat this year. Vladimir and Denis ride together this year just like Jörgen and Bo.

Added to the team is Oleg Sukhorukov banker/friend of Vladimir, but also Valdimir’s father Alexander. More new guys are Raimondas Baranauskas, a banker as well.

More swedes on the team is Per du Hane and his norwegian co-driver Oddvar Moland they have won the rally some years ago in a Porsche. Per has a diversified background and has been working with formula racing with March way back in time. Another great guy on the team is a friend of mine since birth his cradle also stood in Trollhättan like mine but some years later. Fredrik Nyström- Andersson, the son of rally legendary Ove “The Pope” Andersson and Elizabeth Nyström she has a deep Saab rally track record co-driving for Pat Moss-Carlsson. Fredriks dad Ove was both the rally team and F1 team manager for Toyota for many years. Fredrik who is a highly skilled race engineer has worked for some F1 teams Jordan, Toyota and Renault. In Fredriks co-driver chair is another F1 race engineer Paul White, who is connected to HRT F1 team.
There is another Swedish crew of Bo´s sister´s son Krister Sundman who helped out with the team last year he and his buddy co-driver Michael Öberg.

Just now, we are working on all the cars for the team. It is a tough job but we will manage.

As always if You or Your company feels like supporting the team that is more then welcome. Get a chance getting Your company name or logotype on the car. Do exactly what North Toronto Punter (NTP) did, become a premier sponsor we fly his Mellowood Medical stickers on all our cars and so can You.

Welcome to the team with the really big hearts! If You do not trust our sales pitch here call NTP.

/ Jörgen Trued

____________________________________

From Tim:
This year SUHRT’s website will be integrated into www.saabsunited.com with its own menu above called “Historic Rally Team”. I know it looks a bit rough right now but we’re working on it! =) You’re going to be able to follow the team much closer than before with posts coming up directly on SaabsUnited front page and then archived in the menu site. We’re looking forward to an eventful year with the Rally Team! =D

Avatar of Jeff

by Jeff

Watch this. Feel better.

April 23, 2011 in News

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