I got a flood of emails last night, and a comments section was taken over by news in the Swedish press that we’d already seen in BusinessWeek.
One un-named GM source has managed to set off the entire Swedish media into a death march and inflict weeks and weeks of damage upon Saab.
I covered this story earlier yesterday. It’s the article by David Welch that appears in BusinessWeek (which is owned by Bloomberg). In that story, an un-mnamed source supposedly from GM gives his opinion that existing deals look unlikely to succeed. That’s one guy’s opinion.
He also states that GM will begin the wind down process, which is something that we already know is happening.
So on the back of that – one guy’s opinion and a process that’s already underway – the press go nuts with “Saab to close down” stories. The Saab Register, based in Denmark, has it summed up nicely:
So what’s different?
Everything is still at the same position as it was before the article.
Saab is still scheduled for an Orderly Wind Down. At the same time they are talking to potential bidders. They are also restarting the production lines again on 11/1-2001 to produce to orders as part of the Wind Down.
What I’d love to see is someone from the Swedish media going after Joran Hagglund and asking what he’s doing to help facilitate a sale. He’s the guy who’s supposed to be dedicated to this but he’s been unseen for a few weeks now.
Go after the Swedish National Debt Office and ask if everything is in place for a new buyer with respect to the EIB loan should it be needed.
Go after the Swedish Finance ministry and see if they’ve still got work outstanding.
Why do they love to kill Saab? It’s so frustrating.
A housekeeping note – when you see a story, please have a look and see if the report’s already here before just posting it in the comments section of the first post on site.
The whole post about the Detroit run is now filled with doom and gloom from Bloomberg when just one story down, I wrote about the exact same report as published in BusinessWeek.