If I get to Sweden this year, I’m going to find Paul Akerlund, the head of the IF Metall union at Saab, and buy him a Coke (I don’t drink beer). A really big, icy cold Coke.
The headline is his comment on Saab’s extraordinary board meeting held yesterday in Trollhattan, as reported at Automotive News. Akerlund, as the head of the union at the plant, had a seat at that meeting.
I can’t recall a single time in the last 4 years of blogging when a comment from Akerlund has turned out to be incorrect. That gives me some reassurance in this instance.
AN state that the meeting did not reach a conclusion and that another meeting will be held Friday.
Saab’s management board will meet again Friday to discuss the troubled carmaker’s future amid reports that the company will soon file for protection from creditors.
Saab held an extraordinary board meeting on Thursday. The Swedish public service radio reported that the meeting was called to decide on a reorganization of the carmaker.
Reorganization is an alternative to an outright bankruptcy filing. The reorganization process includes negotiations with creditors on adjusting the terms of the debts owed by the company…..
….Saab spokesman Eric Geers said the company’s management is “extremely engaged” in finding a solution to Saab’s problems. “We have a great plan, the only thing that is stopping us is how we can get the right financing in place.”