Monday Again – Another Week of Negotiations
It’s a bit misleading that this post appears in the category “news”, it could well appear in “no news” as still we have nothing breaking to report. While this process of waiting is nerve wrecking for us it is also a good sign that all parties are focussed on getting a deal together. Indications we get from various sides also hint that things are moving, albeit slowly. The creditors meeting has been postponed so we don’t nessesarily expect big things to happen this week. We’d hope for it though, as for employees, dealers and the cash situation at Saab every day without a deal and production is a lost day.
Every now and then a short statement surfaces, but most likely because journos desperately look for news. Here is one like that, Huang Zhiqiang, vice president of Youngman underlined that they are serious about Saab when he spoke to Reuters:
Huang said that investing in Saab is a strategic decision for Youngman.
“It’s not a short sighted move. We got into the deal as a long-term investor,” he said.
Ah well, I think noone in this game is in for a quick buck as wou won’t get that from investing in Saab. This should also apply to the latest addition to the circle of interested parties: North Street Capital. Jeff posted an exclusive interview with their managing director Alex Mascioli last week. Comments on this post were pretty harsh, at least quite a few of them. It’s right that we don’t know too much about them and even the crew did not get an invitation to their money bin. But…
They are another entity to the game that is trying to build up a future to Saab. I think all of you remember CJ, who appeared in 2009 and attended the bidding process. He is still chiming in here from time to time. We had a critical but friendly approach to him even though we did not know much about him either. I’d like to ask for that, too, when it comes to NSC. It’s a bit naive to think that they come here, showing a detailled plan and how much they have in their accounts. If they are to show that, it’s to the parties in the negotiations and not to us. It would even be wrong to talk to much about an ongoing process. It’s not the time to leak details right now. And judging them from their homepage and the fact that you did nor hear of them before is a bit too easy.
It’s ok for me to have a critical approach to such things, we’ve heared about a lot of people in the past two years that did not meet our expectations, I’d even advocate to have it. I just ask you to hold your horses a bit. Maybe think (twice) before you write a comment to keep up to a certain level of behaviour we all want to see here at SU.
And no, comments on this post are not the place to go NSC bashing again.