As was noted in comments by a few people, Saab Sweden have apparently scheduled a board meeting for Thursday.
The topic up for discussion, according to Swedish news services, is business reorganisation. I’ve spent a few hours this morning trying to get my head around what this means but it’s a complex area. There’s no single simple resource like the US Chapter 11 proceedings to refer to.
Let me tell you this much – there’s a lot of things we’re not being told about this scenario. Saab have prepared and presented a plan for reorganisation to the Swedish government. This plan involved the introduction of several new Saabs and the relocation of production for the 9-5 and 9-3 convertible to Sweden.
Those new models should boost sales and the relocation of production should maximise efficiency and utilisation of Swedish facilities. I would have thought that in combination with all the work that’s been done at Trollhattan to make it competitive, that such a plan should give a responsible government some comfort in being able to provide loan guarantees but the Swedes have come out and said that they won’t provide guarantees based on the plans submitted to them so far.
I think both parties know far more than what they’re saying, which is fine for them. But the effect of a drawn out game of corporate chicken is a massive loss of confidence in Saab.
Carl-Peter-Forster has addressed GM’s recovery plan document in his Driving Conversations blog.
I’ve got to say, with him being the titular head of Saab Automobile, that I’m very disappointed that he didn’t address the Saab situation specifically.
How to spot an internet shyster:
There’s a website online now – I’m not going to link to it but it’s at savesaab.com – about saving Saab. It’s even taking donations!!
The donations will be used for:
- Promoting effective and efficient corporate management.
- As a voice in Congress to ensure Saab constituents’ voices are heard.
- Promoting Saab driving events around the country.
- Covering costs associated with the promotion of these objectives.
WARNING – this is an internet scam designed to tap into current ill-feeling and sympathy for Saab. Do NOT fall for it.
And if the person who started this is a regular here, shame on you. Please feel free to remove yourself from the community here.
Whilst the world was watching Saab from a corporate persepctive, I neglected to mention that World Car Fans posted some more 2010 Saab 9-5 spyshots.
If there was anything ground-breakingly new about these, they’d have got their own post.
Here’s a quickie, though. What’s with the ‘ladder’ section at the bottom of this tail lamp?
SaabsUnited has been online for around 10 days now.
We had our 1000th comment yesterday. Now at over 1,200. Not bad at all.
Time for some better news?