From Saab Global Media

Saab Automobile Informs Employees On Salary Payments.

Trollhättan, Sweden: Swedish Automobile N.V. (Swan) and Saab Automobile AB (Saab Automobile) announce that there is a risk of delayed payment of August wages to Saab Automobile employees as some of the funds that were committed by investors may not be paid in time to effect such salary payments.

Saab Automobile is taking all necessary actions to collect these funds in time and continues discussions with various parties to obtain additional short-term funding so that the payments can be made, as well as resume sustainable production. There can however be no assurance that the necessary funding will be obtained or the funds collected.

Patrik B
Member
5 years 1 month ago

This makes me so sad. Saab seems to have a very poor ability to predict what it will be able to afford at the end of the month.

Last month was full of bad PR and this month will probably look like a replay of last month… 🙁

Angel-off
Member
5 years 1 month ago

Déjà vu!
My first though was it’s an old news, from July. But then… What happened with Swedish Summer Holiday Month – is it over? Or August is for festivals there?

Henric Tungström
Member
5 years 1 month ago

I´d say it´s a tactic, if the money appears on the account the enforcement agency takes them. So my guess is Saab told the investors not to transfer the money right now. But they they can´t wait more than a couple of days, so my guess is something good will happen this or next week.

Sadim
Member
5 years 1 month ago

May I quote SWADE in response to that…….

“Over the last few weeks I too have been completely cheesed off by posters that profess they have:
a) A crystal ball
b) The ability to run a large, fiancially troubled company
c) Corporate finance expertise greater than the Saab mangement or their advisors
Add to that the conspiracy theories, ………”

Although I don’t think Swade would have said much against your optimism. I, however, assume you are joking 😉

Khrisdk
Member
5 years 1 month ago

Are you quite sure that SteveW is Swade?

Sadim
Member
5 years 1 month ago

Well, I thought I was. But if you are not – I am definitely not. Hope I have not put my foot in it…..

Khrisdk
Member
5 years 1 month ago

What do I know. I just hang around here..:-)
If I were an admin you would not have liked me very much

SteveW
Member
5 years 1 month ago

That explains a comment of yours in response to a post of mine in a previous post, you had me quite confused – no I am not Swade and no where near as articulate. Strangly Swade posts as Swade! 🙂

StefanH STHLM
Member
5 years 1 month ago
Its very sad. And what Im about to say wont comfort the employees. These last months can only be considered as a period of keeping the nostrils above the surface of extinction until the Chinese and Russian money comes into the business. That money is just around the corner as far as we know from reports. We SU readers only dont know what corner its around. I think Saab have accepted the fact that there will be a horrible mountain of bad PR to navigate through, and that they will make a complete restart/reboot of operations with the new investers… Read more »
v4ever
Guest
5 years 1 month ago

It’s pathetic. Maybe I can’t run a large company but it seems that Saab management also lacks that ability.
What are the chances of production restart on the 29th !!! The fat lady is walking onto the stage.

StefanH STHLM
Member
5 years 1 month ago

As Ive understood it they said the 29th at the earliest. They are awaiting the BIG money.

Khrisdk
Member
5 years 1 month ago

They killed that idea off last week.

Undertaker
Member
5 years 1 month ago

Saabs management does not have a clue how to run Saab as a standalone company. We have the same management as during GM time when all decisions was taken in Zurich or Detroit so YES todays management have a huge responsibility to the situation today.

hans h
Member
5 years 1 month ago

How fortunate that you know what to do. Feel free to call Saab and offer your services. They will probably know how to use your visdom.

ANA
Member
5 years 1 month ago

Hans H
Please leave out personal attacks on people who express an opinion other than yours, Undertaker was merely making an observation – and one that is also likely to be held by a many potential investors.

hans h
Member
5 years 1 month ago

Sorry!
I’m getting a bit sensitive here. But I do think that the management have a clue. It’s money they’re missing.

skwdenyer
Member
5 years 1 month ago

I’m unclear what is ‘pathetic’ about it. This isn’t about management ability; it is about not having the money.

There are only 2 choices: try to find the money, or close down. Right now, the only way of getting certainty is to close down. Do you want that?

I’m genuinely perplexed by the number of people who think that ‘good management’ would solve this problem, and that a lack of certainty is somehow a symptom of ‘bad management’.

If enough people want Saab to close, just so that things can be certain, I’m sure VM can oblige. Is that what you want?

Audun
Member
5 years 1 month ago

+1

cakewalker
Member
5 years 1 month ago

+1

hans h
Member
5 years 1 month ago

+1

JST1981
Member
5 years 1 month ago

+1

ANA
Member
5 years 1 month ago

Skydenyer
Cash management is THE most important part of running any size company.

ivo 71
Member
5 years 1 month ago

To manage cash you first have to have cash.

Ivo

ANA
Member
5 years 1 month ago

ivo 71
In VM’s own words they had a ‘fully funded 5 year business plan’.

Khrisdk
Member
5 years 1 month ago

Yes..the same plan that SweGov and EIB accepted as valid for guaranteeing the loans.

Pedro
Member
5 years 1 month ago
@ ANA – I don’t doubt for a minute that the business plan that was presented added up as a ‘fully funded 5 year business plan’, otherwise the Government and EIB would not have stepped in. I don’t recall all that was in the news at the time of the sale, but I believe there were projections of decreased volume compared to SAAB’s peak sales during GM ownership with higher revenue per vehicle (actually an interesting way to achieve a lower breakeven level, due to a higher unit margin: each car sold at a higher price/marging contributes more for a… Read more »
RadioMan
Member
5 years 1 month ago

+1

Rogge
Member
5 years 1 month ago

+1

Coke is it
Member
5 years 1 month ago

+1

cakewalker
Member
5 years 1 month ago
Perhaps Saab’s tactic is to beckon the fat lady out of the wings so many times that she suffers a heart attack through over exertion and falls into the orchestra pit. I know the company has been in a permanent state of crisis for, well, years, but could we come up with a new saying to allude to their perpetual state of apparently imminent demise? The constant fat lady references are getting boring. Might I suggest that you start your next critique ‘Maybe I can’t run a large company enduring monumental financial, political, media and market pressures but…’? Thanks at… Read more »
Swade
Member
5 years 1 month ago

Folks, there’s no tactics involved here. It’s as the press release says. We want to pay wages on time (apologies to the theorists, but there’s absolutely zero tactical advantage in not doing so) but we’re warning people in advance that there might be a delay.

Carlo A
Member
5 years 1 month ago

At least, it seems to me that wages WILL be paid, possibly slightly late, and I consider this good news for everybody, mainly the employees and their families …

so, let’s keep positive !!!

SAAB-CAAB
Member
5 years 1 month ago

@ Swade: are the funds supposed to come from the GEM facility? The pricing period of the first emission is closed by now. Can you confirm the second is also closed? That pricing period was never announced I believe.

Can you elaborate on what has to happen in order to put SAAB in a position to be in time? Who has to hurry up?
If supportive funds will not be available in time, is there an estimate of when the wages wil be paid then?

Swade
Member
5 years 1 month ago

What needs to happen, as indicated by the release, is that we need to get the funds in that we were told would be in. The exact source, which I don’t personally know anyway, is immaterial. But we’re working to get that money in so as to be able to pay wages as soon as possible.

Jake
Member
5 years 1 month ago

Ah! So there’s funds already in place, you just need to get them! That clears up a lot, Swade! And it does a good job of hinting at when we may expect The Deal to be ready! 😀

Sadim
Member
5 years 1 month ago

Today there was supposed to be a meeting between SAAB and the Enforcement Agency. Their position up until today has been that they will grab any money coming in to SAAB accounts.

Is there a correllation in time between the press-release and the meeting with the EA? Had I been with SAAB I would have made every effort to negotiate a deal with the EA involving salaries being paid in full on time.

JST1981
Member
5 years 1 month ago

…which is honest and good to do so. Do you think it’s clever to give out a press release though? Just some more bad news for the press, but – well – it would have come out anyways. Better tell it in advance. I do hope that this is the last month without production in Trollhättan.

Swade
Member
5 years 1 month ago

Damned if we do, damned if we don’t and things go awry. If there’s an expectation that there could be a delay, best to forewarn.

Carlo A
Member
5 years 1 month ago

It is compulsory for a listed company to “promptly” release to the public any information or development that could affect up/down the share price ….

Iiari
Member
5 years 1 month ago
Very sad… This may be a controversial question to ask, but if the survival of the company is at stake, why, in all the months the factory is producing nothing, keep the factory workers employed? And we’re probably now looking at another at least 2 months without production as well. Why not lay them off, furlough them, or some other tactic? Obviously this would be traumatic for the workers involved, but I’m sure there probably is a Swedish unemployment benefit for the short term and, again, if it makes the difference between survival and non-survival and a future job or… Read more »
Sadim
Member
5 years 1 month ago

This should have been done long ago. It must have been evident months ago that sales were not on target and costs were up. There is a system in Sweden called “permittering” which means people are made redundant on a temporary basis. A number of suppliers have used this system due to SAAB’s drop in production. The purpose is of course to save money.

Pedro
Member
5 years 1 month ago

So that works as a temporary suspension of the work contracts, where Social Security steps in with a percentage of the monthly salary (eventually some trining courses too)… Correct?

Sadim
Member
5 years 1 month ago

Correct

Pedro
Member
5 years 1 month ago

Thanks 😉

cakewalker
Member
5 years 1 month ago
What you say makes sense for Saab to have considered prior to the shutdown. I’m curious to know at what point Saab can’t function at all due to laying off people – while the production lines were running there must have been a minimum number of people needed for the factory to function. Anyway, it may not be deemed commercially hard-nosed, but laying people off temporarily or otherwise can’t be healthy for team spirit. I guess if there is a business decision to be made around that it’s how likely that would be to dent Saab’s capability at hitting the… Read more »
aop
Member
5 years 1 month ago

That should have been done early this year, I must admit, especially if Sweden has this temporary lay-off program for staff without them loosing their jobs and being able to be called in back as soon as the situation improved.

Why SAAB didn’t go this way? I think they never thought it will take that long to recover and never anticipated how suppliers will react.

Belfast_Saab
Member
5 years 1 month ago
+1 hindsight is a great advantage – if they had known in April what they know now, of course this would have been an option. Then again, keeping the suppliers off their backs has been the major worry, and if the signals were taht the situation was so dire that staff were sent home, then suppliers might have pushed harder for settlement, bringing crisis to a ahead sooner. Not saying that would have been any worse siutation than now, just earlier. At least now some extra months had been bought to seek funding package, sadly this is still not resolved,… Read more »
StefanH STHLM
Member
5 years 1 month ago

Its simple. If the employees were to go they would probably be scattered around and the amount of work putting production groups together when the BIG PILE OF MONEY is entering, would be very difficult.
Saab is sure of getting the BIG money, they just have to hang on and keep calm until it arrives
Until the Chinese authorities signs the right documents.

jond
Member
5 years 1 month ago

IF the Chinese authorities sign the documents. The risk that they may not has surely been a major factor in obtaining bridging finance.

Quijote
Member
5 years 1 month ago
My Viggen is aging, and recently has had several repairs that make me question the justification of such expense. However, I hold on to the Viggen hoping that Saab gets their shit together. I don’t want to buy a new Saab only to be stuck with a lame duck that has an “empty” warranty and eventual shortage of parts. Pontiac didn’t struggle in selling their last remaining vehicles, which were quite good, because GM is still there for support. But if Saab dies, who’s there to take care of my new Saab? I still have hope, but I’m visiting AudiUSA.com… Read more »
Norwegian Blue
Member
5 years 1 month ago

Or at least that’s what Pontiac buyers were told, but new GM is not the same as old GM, and according to court documents filed by new GM, “New GM did not assume responsibility for Old GM’s design choices, conduct, or alleged breaches of liability under the warranty.“

Quijote
Member
5 years 1 month ago

GM’s argument was for recalls, not for warranty work.

Norwegian Blue
Member
5 years 1 month ago

The issue before the court concerns defective spindle rods on Chevy Impalas, but their pleading states “liability under the warranty”, which is a much broader. Interestingly, “Government Motors” did repair the problem on the fleet versions employed by law enforcement agencies.

Jake
Member
5 years 1 month ago

I’ll tell your ISP to block the site, if you’d like, for your sake. 😉

Quijote
Member
5 years 1 month ago

Sure… as long as they don’t block SaabsUnited.Com and Swade’s official blog!

Chicago Swede
Member
5 years 1 month ago
I find it very sad to see each days news about SAAB and it’s current seemingly endless struggle for cash/survivial. I have my 9-5 which has been my chariot of choice since 2006. While it is without a doubt a fine automobile, it appears it may be my last SAAB. When it is truly time to replace it and IF there is no longer a SAAB, my choices would be as follows, Volvo S60 or Audi S4. I won’t even think about a possible BMW or Mercedes. I live in Chicago and our winters are not a lot better than… Read more »
Jake
Member
5 years 1 month ago

If the 9-5 is a Saab, by the time you’ll need to replace it, the new 9-3 will be out, and the company should be doing just fine. 🙂

Chicago Fred
Member
5 years 1 month ago
Like you…I find the news about SAAB depressing. My 99 9-3 is purring right along with no major issues, but I am due for a new SAAB soon. I am, however, spending lots more time looking at VOLVO and Audi, because despite my hopes, I fear that SAAB is a lost cause. And BMW and MB are not in the cards, because they are too flashy or stodgy and dont reflect my values or my customers values. For 2 years SAAB has been inept at marketing cars in the US and they remained tied to GM’s ways (and contracted GM… Read more »
daniel
Member
5 years 1 month ago
Many things will be even worser before it came better ! If there will be no money for salaries there will be no money to start production and that is the case. However VM deserve respect trying to save what he can. We should all think and take deep breath before crying like old ladies. For four month VM tried and success to find money for salaries and no work was done. No help from Swedish gov. (shame on them) not thinking what will some 2OK people do if this brand is gone. If they ask few more days all… Read more »
v4ever
Guest
5 years 1 month ago
On what basis can anyone say there have been any success’s in the running of Saab since VM has been involved? The company has lurched from one disaster to another with little but disinformation and what could charitably be called untruths coming from Saabs inner circle.(Remember this all started because of a supposed missed payment due to a computer glitch in an accounts system, Saabs own words.) Over the last few months there seem to have been any number of saviours, last minute super deals and interested parties, none of whom have really come good when the chips are down.… Read more »
Iiari
Member
5 years 1 month ago
While I find your tone a bit harsh and quibble with some details, it’s impossible to argue with your final conclusion. I agree that the BIG MONEY coming from THE DEAL that we’re all now hoping/waiting for needs to be in the billions, not millions, to make me a believer. Volvo and Jaguar, two makers also recently purchased who I argue were both in their own ways more lost and sick than Saab, received cash investments in the billions and, after this debacle, that’s what Saab will need to shut up all the haters. 300 or 500 million may have… Read more »
Swade
Member
5 years 1 month ago
Gawdlpus No-one denies that we’re in a big situation here, but I take issue with some of the points you raise because I get really concerned with people basing their views on mis-information. Let me address a couple that you’ve raised here: Remember this all started because of a supposed missed payment due to a computer glitch in an accounts system, Saabs own words. I haven’t seen or heard that, ever. I’m not saying it didn’t happen or wasn’t said by someone, but if you can back it up with a link I’d be very interested in reading it. —… Read more »
MarkoA
Member
5 years 1 month ago

Thank you Swade for correcting things here. There’s still many of us who have faith in Saab!

OliverH
Member
5 years 1 month ago

Swade i can remember the story about the IT glitch which was stated to come from VM. That’s one reason Why he has my full trust. Something like: we’re having a problem because we had to implement our own financal system as we now don’t use the GM infrastructure.

Swade
Member
5 years 1 month ago
I ran into a colleague of mine at dinner tonight and she mentioned the payments system comment that was first made. I hadn’t heard of it until Gawdlpus mentioned it here (it was in my own transition/down time before writing for Saab), which is why I asked him for a reference, but it appears to be true. We were indeed implementing new systems as we carved out from GM, but I don’t think that can reliably be used as a reason for what caused this situation. That said, I also don’t think it’s a reason to throw the baby out… Read more »
hans h
Member
5 years 1 month ago

And those are the reasons why I still believe Saab is going to survive.
Even though it is rough at the moment.

ryanonsrc
Member
5 years 1 month ago

+1 Swade.

I admire the courage all of you at Saab have had during these struggles. Clearly, a lot of people here are quite frustrated, but largely as a result of an extreme passion for Saab, what it stands for, and the people behind it.

As for those that nothing more than vitriol against Saab, I am reminded of this quote from Albert Einstein: “Great spirits have always encountered violent opposition from mediocre minds.”

Sadim
Member
5 years 1 month ago

Swade, are you a lawyer? When explaining why SAAB has not done this and not lived up to that, you sound just like one.

Khrisdk
Member
5 years 1 month ago

I think he is answering in the tone that should be the standard here.

hans h
Member
5 years 1 month ago

I think so too.

Khrisdk
Member
5 years 1 month ago

Just one small question for you:

Do you expect those bringing the 500-600 millions to stop at that point and then give up or continue?

Khrisdk
Member
5 years 1 month ago

and that was directed at gawlpus in particular, but also a genereal observation

Patrik B
Member
5 years 1 month ago
Great post. The main problem, as I see it, is the flow of information. There have been way to many broken promises and actual lies from the Saab management. How come VM said that the production stop would never happen again and then they never really got the production running fully again. I can’t see the reason for such a lie because the situation cannot have been unknown for him. And if the situation was unknown for VM then he is highly unsuitable for the job! And we also we have the “Hallelulja” the savior is here statements where some… Read more »
Swade
Member
5 years 1 month ago
Patrick, there were two events where VM might have said that. I’d have to try and find some video (if it exists) of the meeting in the factory, but I’m not quite so sure that VM said that it would never happen again at that one. The way that I took it (I was there and photographed the event) was that management’s job was to fix this situation so that it wouldn’t happen again. At the re-start back at the end of May, he said that we would create a buffer to ensure that this didn’t happen again, but we… Read more »
Patrik B
Member
5 years 1 month ago
I have been in charge of situations where there are a serious money on stake and there is a lot of people as stake holders all wanting to know as much as possible. But as the final outcome of the “process” is dependent on so many things you can’t really say anything until the work is more or less done. And here is the problem; don’t communicate anything that you don’t know will happen. If you do need to say anything, be very specific that the information shared is very preliminary and part of a major plan. Present it as… Read more »
Red J
Member
5 years 1 month ago

gawdlpus,
for your information and referring to the 192 people.

The counter counts the people that ar on-line at the same time, I doubt that on any dealership you will see 192 people at a time or 60.000 visits during the day, as we had on that day.

BTW, 190 was also about the maximum the old server was able to handle, that’s why we moved to a newer server.

cakewalker
Member
5 years 1 month ago

Maybe we could flashmob an Audi dealership to see how they cope with 192 simultaneous visitors.

hans h
Member
5 years 1 month ago

🙂

v4ever
Guest
5 years 1 month ago

Yes 192 at one time i would suggest is really low compared to how important this site is to Saab

Khrisdk
Member
5 years 1 month ago

So,, we are at an insignificant miniscule site conserning a brand that is mismanaged and bound to fail?

Hmmm..OK

I feel a lot of flatulence building up

ivo 71
Member
5 years 1 month ago

@ Khrisdk: Try to keep it inside and leave that to me. Poor Sadim won’t be able to cope with two older guys equipped with eloquent darm structures. I probably ‘out-age’ you but, having had the opportunity to kiss the Blarney stone, my verbal flatulence, once it erupts, isn’t limited by any wisdom gained by years passed.

See?

🙂

Ivo

Khrisdk
Member
5 years 1 month ago

🙂 I bow to The Elder

ivo 71
Member
5 years 1 month ago

🙂 Working together to save the air we breathe. Ain’t that great?

Ivo

Red J
Member
5 years 1 month ago

We are not ToyotaUnited, or is it ToyotamaybeScionorSubarudependingonthedayUnited.

And btw, if we are so small, why are you here?

hans h
Member
5 years 1 month ago

Were you one of the 192?

Sadim
Member
5 years 1 month ago

ivo 71 August 23, 2011 at 23:46

Thanks for the consideration, but I can handla quite a lot….. 😉

cakewalker
Member
5 years 1 month ago
@gawdlpus – no doubt you’re right that Saab need billions rather than millions of dollars in the long term. However, they have to start somewhere and that’s raising enough to get running again which will make them a rather more attractive investment prospect than they are at the moment. It is a big job and it is a lot of money but one step at a time seems to be a reasonable approach. I’m curious to know who owns those 3,700 cars in the States. Are they still Saab’s to sell? What are the costs of shipping them to China?… Read more »
v4ever
Guest
5 years 1 month ago
1.) I stuck with it because I did have faith that something might help the brand survive. I don’t now. So I left Saab at the beginning of the year because my wages couldn’t meet the bills. Simple as that. 2.) VM will not listen to anything that I have to say at this stage nor would I expect him to. All senior management in all car companies will not listen to what the employees say on the shop floor. As I have mentioned on here before what a lot of people on here don’t appreciate the ego involved at… Read more »
rune
Member
5 years 1 month ago
Billions of most currencies can solve a lot of problems I’m sure. I had barely touched a drop of Coca-Cola in 30-odd years, but eventually all that marketing (measurable in the billions?) and well-meaning friends turned me into a consumer. (Basically the common belief is that Coca-Cola helps against diarreah, but eventually I’ve come to believe that this is wrong, so I’ll probably stop drinking the stuff now) GM, right before the end, managed to give Saab a few things that had been missing. A new model range (sans the 9-3’s replacement, but it looks like they did pay for… Read more »
SAAB LANCE
Member
5 years 1 month ago
gawdlpus….I have much the same background as you do though not quite the longevity.I sold my first Saab in January of 1994 and my last in July of 2010,sixteen and a half years selling a car in which I was a true believer.I find your statement that it’s time to fold the tent and leave with a modicum of dignity to be spot on.The reality of the situation is that which is addressed in the rare post by someone actually dependent on retailing cars for a living who goes to a Saab dealership everyday only to sit there staring at… Read more »
v4ever
Guest
5 years 1 month ago

+1

KarlR
Member
5 years 1 month ago

Gawdlpus, You do the samething as everyone!! If you are so great and know so much about SAAB, dont just point fingers, give suggestions! Swade is reading this so if its good he can put it straight to Top Mgm!!

aop
Member
5 years 1 month ago

gawdlpus ,

you have all the right in the world to be angry on SAAB management, as they obviously did not do everything right in the past months.
I personally understand your scepticism, but don’t expect that sentences like

The fat lady is walking onto the stage.

will get you tons of sympathy.
And franckly, I prefer to fight until the last tear of blood teared up from my veins than to shoot myself in the head.

Henric Tungström
Member
5 years 1 month ago

🙂 well put

Turbine
Member
5 years 1 month ago
KarlR – Gawdplus is right on the money with his analysis (quite literally) It will take a very major cash injection to get Saab back on its feet – at a time when the world is financially very unstable. I think its a great shame that Saab is to be no more – but barring an act of massive goodwill by another major manifacturer its game over! Only then can they try and repair the PR damage. Dont rely on wisemen from the US bearing gifts – dont rely on the chinese to go in strong for a failing business… Read more »
Jake
Member
5 years 1 month ago

Have you seen Swade’s replies? Gawdlpus is an attention whore. (Pardon the language; it’s an expression) Good points, but they’ve been recycled OVER AND OVER by many different people, and now, the arguments have been seen and heard so many times that they’ve become invalid.

ivo 71
Member
5 years 1 month ago

Well, not entirely invalid perhaps but, by now, devoid of any impact. And boring, so boring…

Ivo

v4ever
Guest
5 years 1 month ago

Jake. I don’t pardon the language.

Just because someone disagrees with your point of view, there is no need for that sort of abuse. If you called me that in a bar, you’d be picking a window. You quite obviously have no idea of what myself and SAAB LANCE have been through trying to sell a product to a market that basically no longer cares.

Just because you nurse a tent poll every time you think about a 99 turbo, doesn’t make the points that I have raised invalid.

OliverH
Member
5 years 1 month ago

I wish the employees at Saab the best.

lol
Member
5 years 1 month ago

Folks I think it’s time to show that we beleive in SAAB future !
Why won’t we all buy SWAN shares now ?
Viking Up !
SAAB Up !

Patrik B
Member
5 years 1 month ago

Buying the SWAN share only shows that we are interested in a volatile stock. If we really want to help Saab we should order cars and spare parts, and lot of them. Too bad they can’t deliver.

If Saab get their financing in order we will probably look at a ng 9-5 SC next spring.

Saab 9-5 SC Vector TID 160, Silver metallic, black leather interior, Harman-Kardon audio system, Carve 18″ wheels, tinted windows

SAAB-CAAB
Member
5 years 1 month ago

@lol. Shares that are on THE market have already been sold by SAAB. It will have zero effect on the cash position of SAAB if you go and buy the stock.

Not today’s best idea.

saabluster
Member
5 years 1 month ago

I would if I knew how. Nobody has cared to explain how someone in the US can do so.

spacy
Guest
5 years 1 month ago

.
OH PLEASE,
What an excuse.

It ‘s quite easy everywhere just go to your bank/financial adviser and ask…..

Norwegian Blue
Member
5 years 1 month ago

It can be done, but the overhead is high. Unless you have a lot to invest it’s not worth the effort and, as others have noted, it won’t do much to help the company. Your broker may also be amused when you tell him you want to buy some “Swedish Automobile”, because the term is also a sexual euphemism

hans h
Member
5 years 1 month ago

That was new to me. 🙂

RS
Member
5 years 1 month ago

And when the broker says “- You mean ovloV?”. You go: “- What? No, are crazy!” 😀

Turbine
Member
5 years 1 month ago

LOL – lovely thought if I had the money to RISK

nafuente
Member
5 years 1 month ago

With so much bad news there is one question we all ask. When start the Saab factory? SaabsUnited Does anyone know?

Turbine
Member
5 years 1 month ago

I think 29th August is well and truly not going to happen – awaiting cash injection and supplier deals to be done

nafuente
Member
5 years 1 month ago

On September 15, give a used car waiting for a Saab 93 Griffin, who ordered the April 14, five months ago! Now it seems, as I read on some blogs, that August 29 will not start production Saab. With so much bad news do not know if cancel the purchase …

Red J
Member
5 years 1 month ago

I’m waiting since February, and I’ll wait till I get my car.

cakewalker
Member
5 years 1 month ago

Presumably deposits have been paid in such circumstances. Who holds those – Saab or the dealer?

Tim
Member
5 years 1 month ago

Seems we both ordered the car in the same month. 🙂

Red J
Member
5 years 1 month ago

cakewalker,
I’ve never paid a deposit on my ordered car. 😉

Tim,
🙂

Tim
Member
5 years 1 month ago

Can’t wait for the factory to restart production. I was told mine should have been build just days after production was halted.

cakewalker
Member
5 years 1 month ago

Ah 🙂 Thanks for the reply – it’s necessary context when reading the occasional ‘should I cancel my purchase?’ post.

The last time I replaced my car the timing was related to an imminent MoT and new tax disc. I know it’s tough for dealers anyway but have any of them tried hanging onto a delayed order by supporting the buyer’s need to keep their current car for a bit longer?

JLP
Member
5 years 1 month ago

I was very optimist about the future of SAAB untill recently. All the signs points out the symptoms of slow but sure agony: dealerships keep closing + i haven’t seen a single new gen 9-5 on the roads around here. Trollhattan plant has been collecting dust for many months now, and SAAB’s communications is doing almost nothing to restore the consumer’s confidence in the brand. It is getting darker and darker out there.

Red J
Member
5 years 1 month ago

Keep closing???

JLP
Member
5 years 1 month ago

Well, that my limited written english, i’m sure you got the sense.

Red J
Member
5 years 1 month ago

Yes I got the sense, I don’t see dealerships closing, I only know of two, but maybe they are more, but it is far away from an avalanche.

ivo 71
Member
5 years 1 month ago

It does, however, look like one in the USA, I’m sorry to say.

Ivo

jond
Member
5 years 1 month ago

One positive thing. A bankruptcy, were it to happen, would drive out the current management and most of the debts. The remains may well be quite attractive as a clean recovery situation. The ‘fat lady’ may well have waiting behind her in the wings an impresario who has been waiting for just such an opportunity and is currently licking his lips.

Norwegian Blue
Member
5 years 1 month ago

Most likely SAAB would become just another Chinese badge, like MG. That assuming the name can be transferred, which I believe is in dispute.

cakewalker
Member
5 years 1 month ago
I think it was speculated that this was the case with MGR – SAIC, the company they had been courting waiting until MGR collapsed in order to get the ‘better deal’. MGR did sell them something prior to their collapse (can’t remember if it was IP, old equipment or what) but when MGR’s collapse came about one of SAIC’s competitors actually ended up with the remains of MGR. After a while of each company producing near identical competitors in China they’ve been ‘encouraged’ by their government to co-operate with each other. Very messy and a situation I’d assume Youngman and… Read more »
GrumpyGriffin
Member
5 years 1 month ago

The same thought has occurred to me as well, however it is likely that said impresario may well wish to gather up the entire company minus most of it’s performers and ship everything of to China, where it could perform under a different name to a selected audience.

v4ever
Guest
5 years 1 month ago
Swade, From 4th April 2011: Saab and Dutch owner Spyker on Monday sought to reassure investors of the brand’s financial health, with Spyker head Victor Muller describing current problems as “a small glitch.” “Saab is not on the verge of collapse,” Muller said at a presentation of new models in the Stockholm suburb of Nacka, calling media reports about Saab’s financial problems “disproportionate.” Saab – which Spyker rescued at the last minute in January 2010 by buying it from US auto giant General Motors – was forced to stop production three times last week as some suppliers halted deliveries over… Read more »
Swade
Member
5 years 1 month ago
Thanks for the link. I don’t want to come across as picky as I appreciate you hunting it down and coming back to me, but the quote you’ve selected doesn’t match what I asked for where it was written off to a computer error. Calling it “a small glitch” in English has many connotations, the most relevant being the ‘disproportionate’ explanation given in the quote. The key is to read the article in context – early April. It looks pretty bad four months on, but put that in context with the time and i’m sure that the problem seemed quite… Read more »
ANA
Member
5 years 1 month ago

With respect, in April Saab would have known that they were running out of cash, so it was perhaps an unwise to describe the situation as a ‘small glitch’. However I take the point that they gambled that they could solve the problem quickly.

I hope they still can solve it quickly..

rune
Member
5 years 1 month ago
They have managed to keep all employees onboard during this entire ordeal. They have managed to raise cash to stay afloat for several months without production now. I.e. if the suppliers had played ball in April, the production would have been rolling now. The statement that this was a ‘small glitch’ is arguably not so far off. OTOH, what was unexpected was EIB’s decision to deny Antonov as an owner (have they explained ‘why?’ yet?). That decision (and the time it took for EIB to render it) has proved costly. Even so, it seems VM and his team has been… Read more »
katar1na
Member
5 years 1 month ago
I just heard a lovely story about a Swedish city nearby the Capitol City Stockholm, where a lot of immigrants settled down over the years. One day some guys came up with the idea: “Since there are only immigrants living here – why don´t we buy the whole thing?” Said and done. They called the Prime Minister and the King to invite them for a business meeting. The Prime Minister (Mr. Reinfeldt) was very angry and hung up. The King Carl Gustav came for a visit though, and gently tried to explain that you cannot buy a Swedish city just… Read more »
v4ever
Guest
5 years 1 month ago
Again, I’d like a reference to where a statement of that definite nature was made. We’ve got every intention of paying on time every month but we’ve never said that ‘this will be last time’. Especially after two months of having delays, such a statement would incite a riot How can a multi national company come out with this ?” We have every intention of paying???” Come on Swade if this was anything other than to do with Saab the words “every intention to pay” would be laughed at. They can pay or they are insolvent. I’m sure a credit… Read more »
cakewalker
Member
5 years 1 month ago

‘They can pay or they are insolvent.’ – or … they are seeking the money to pay, as they did last month. They managed it that time which gives some degree of confidence that it is at least possible this time. However, as they’re relying on outside sources they can’t very well say ‘we will pay’ until the money is theirs to forward on to the employees.

Carlo A
Member
5 years 1 month ago
My dear Gawdlus maybe you have not yet understood that the current situation is an emergency one? Please do not give me all the management textbook bullshit about corporate ethos and philosophy. I studied it too, and I have also read all Victor Kiam’s books. Everybody is fully aware of the situation and trying to get out of it ! All energies must be focused on getting some financing to restart making cars … it may work or it may not. In any case, believe me, all your comments about ethos, insolvency, credit card repayment, worldwide empires, leadership, etc. are,… Read more »
GrumpyGriffin
Member
5 years 1 month ago

the correct expression is “as useful as a fart in a Culender ” a Culender is vessel for the washing and straining of vegetables, it has lots of holes in it.

Carlo A
Member
5 years 1 month ago

Thanks 🙂

Grumpy
Member
5 years 1 month ago

Colander, actually 😉

v4ever
Guest
5 years 1 month ago
Dear Karlo B I’ve never read one of Victor Kiams books in my life. What I have done is work in the motor industry for 22 years as a Salesman and in Management. And with that experience I do indeed know a lot of marketing BS and I always try and ignore the stupid people who use it. So unless you’ve done the same thing I strongly suggest that you stop being so patronising and allow me to have my opinion which comes with a deep knowledge of the actual business of selling retail motor vehicles and dealing with major… Read more »
Khrisdk
Member
5 years 1 month ago

Maybe..but it is still possible.
That’s where books, BS and experience fails

aop
Member
5 years 1 month ago

gawdlpus,

You’ve made your choices and sometimes moving away from something you feel you don’t trust anymore is the good thing to do. And we respect it and hope it will work out well for you.

BUT, since you already left, what’s the point of this ? Don’t you try to convince yourself that you made the right thing, here ?.

Carlo A
Member
5 years 1 month ago
Dear Gawdlpus thanks for the clarifications. All this positive energy “won’t make a scrap of difference unless VM can manage to raise billions” and I agree with you. Certainly, talking about ethos, credit cards repayment, worldwide empire, leaderships, etc. won’t make a difference either. Apart from allowing you to release you own frustration. By the way, where does it come from? I believe there is a management team that is very well aware of the difficulty of the situation and it is trying to find a solution. I do not think they are negligent or incapable. I hope they are… Read more »
SAAB LANCE
Member
5 years 1 month ago
gawdlps…..I reference back to my comment on your earlier post.You and I are the only people I know of who regularly post on here that actually are dependent on the selling of Saab to the general populace for a living.I think it brings a different level of credibility to our viewpoints regarding the reality of the situation.We aren’t punters who own 10 year old Saabs that want to fantasize about how everything can be made right if we can just organize another 50 car convoy as a show of support! Lets all buy 50 shares of Spyker stock! If you… Read more »
Khrisdk
Member
5 years 1 month ago

I think you have mised a couple of other dealers in here, coming by at about the same frequency as you, stating other opinions

Red J
Member
5 years 1 month ago
SAAB LANCE, with all respect, but here at SU there are more dealers writing comments. We know that that Saab sales are on the bottom of the hill, but you know, from the bottom it can only goo up. 🙂 And in respect to the other, non-dealer SU readers, some of them have bought new Saabs since January 2010, some of them are waiting for long announced models like the 9-5 SC and some of them are not that well off, and drive either a CPO Saab or an old Saab. I know that some of the expressed thoughts from… Read more »
RS
Member
5 years 1 month ago

After GM pricing…dealer invoice minus dealer holdback,minus regional advertising charge,minus Saab loyalty coupon,minus all applicable incentives the $41,800 M.S.R.P. 9-7 was purchased for $20,800

And here we have the formula for business failure!
How in the world are Americans ever again going to take Saab for what it truly is? It was discounted like some cheap crap and then they said Saab business doesn’t earn any money.
Way to go GM…

Swade
Member
5 years 1 month ago
G, I think every company intends to pay it’s employees on time. What’s wrong with expressing that in words? It’s a statement that unfortunately needs to be expressed because there are a number of people questioning the intentions of Saab’s management etc. Many are implying an intent to mislead so I think it’s a pretty important distinction to make right now seeing that the subject is a current one. World wide empire? I’ve never believed in one for Saab and don’t really want one. I just want enough people to make a go of things, really. But yeah, I’m realistic… Read more »
spacy
Guest
5 years 1 month ago

.
Steven

I know [for all the years I’ve followed saabsunited], that you strongly beliefs.

Ive read most of the above comments, but I would have preferred the comments from Saab [over the last months], had at least been not made till they could have some real substance.

The old English saying ”Don’t count your chicken till their hatched”, comes to mind.

I do not need to say this, but I always hope for the Sunny day soon…..””

Norwegian Blue
Member
5 years 1 month ago

They can pay or they are insolvent. I’m sure a credit card company would be happy to know that someone had the intention of paying when they have had no money to pay the bills before.

“If you owe the bank $100 that’s your problem. If you owe the bank $100 million, that’s the bank’s problem.” – J. Paul Getty

KarlR
Member
5 years 1 month ago

Onething that I can promise you all even if it might be a bit childish is that If SAAB dies I will neber buy a car that has anything delivered from Kongsberg! I just hate how that company have behaved in media, Hate Kongsberg and I do hope SAAB survives and stop using them!

zippy
Member
5 years 1 month ago

Im staying well away from this thread as its a little too negative for my liking. 🙁

ryanonsrc
Member
5 years 1 month ago

Agreed, let’s keep our fingers crossed.

turbokalle
Member
5 years 1 month ago

+1
You and I seem to be on the same page most of the time.
Hey, my new 95SC, Vector, 190 TTiD, white with some thingies thrown in, you are ordered and WILL be produced and delivered. You just don`t know it yet.

RS
Member
5 years 1 month ago

Yes, its getting a bit rough for my taste as well 😉 Wonder what all these former Saabers get out of this?

When production starts maybe THN should start using the following tagline: ‘SAAB, not for the weak hearted’, or ‘Don’t you love to hate it? SAAB’.

PPSwiss
Member
5 years 1 month ago

sounds rather like Marmite -> new slogan? Saab – the Swedish Marmite….

compliment to Swade -> with so much negativity around you’re one of the few who still gives us hope.

Griffin up!

Kikaluka
Member
5 years 1 month ago

@gawdlpus – I drive my 2011 9-5 Aero every single day with a big smile on my face. An awfull lot of fun, made possible by VM and VM only. Quite an achievement.

Buy a Saab, it will make you feel better.

Rasek
Member
5 years 1 month ago

I do also drive a 9-5 2011 (Vector). I’m very happy with this Saab (my 5th Saab in 20 years)) It;s the best I ever had. Here in Holland I’m one of the few driving a new 9-5. What ever! I do hope Saab will survive. Not for myself, but for Saab and the people of Saab. Goodluck in those difficult days. You are not alone, there are still believers outside!

PPSwiss
Member
5 years 1 month ago

I ordered a cabriolet on my birthday this year (Jan) and received it end of March. I’ve done over 10 Km since and still feel like a little boy who just opened his birthday present everytime i use her (which I do actually….almost every day).

The wife and I test drove the 95 Dec and loved it -> we smiled from start to finish. We plan to replace the wife’s 93 SC in a couple of years.

These are the reasons, why I will grasp every grain of hope, until proven otherwise.

Keep calm and carry on!

aop
Member
5 years 1 month ago

ordered a cabriolet on my birthday this year (Jan) and received it end of March. I’ve done over 10 Km since and still feel like a little boy who just opened his birthday present everytime i use her (which I do actually….almost every day).

🙂 well if you’ll keep using it everyday you may have a chance to fill the fuel tank in a few years or so 🙂
joking joking 😉 I know you probably meant 10.000 km

PPSwiss
Member
5 years 1 month ago

yep, 10K km – of course -> but still: filling her up after doing 1000 km is cool
tks

Kikaluka
Member
5 years 1 month ago

Imagination is my best friend. – Neil Young

theRightStuff
Member
5 years 1 month ago

Whatever happens, there will be plenty of fairly new Saabs available that I can drive till 2024. From that year I’ll be driving a Corvette… (I promised myself a Vette for my 60th birthday; T minus 13 years and counting… 😉 )

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