Good news finally, not only will the October wages be paid, but that an agreement for technology sharing with Youngman has been reached. According to TTELA, the money will hold Saab over until November when the rest is due. Read the translation after the break.
Chinese Youngman is on Wednesday has paid about 100 million to Saab Automobile. That said newspaper Dagens Industri, DI, late that evening. Thus, wages for October is paid to the employees. Related Payment shall be made on Wednesday and is a small part of the 640 million Chinese people who would put up with the bridge financing in anticipation of the total investment of 2.2 billion together with Pang Da. The safety of money is a license to Saab’s new base of the 9-3 model [Phoenix platform I think]. Youngman may now take advantage of a defined part of the technology, writes DI. The 100 million is welcome when the government wage guarantee expires on October 21. The money will be enough until the Chinese authorities are ready to trial in November.
Also according to TT via DI:
DI also say that there is now a new plan to save Saab, according to TT, and that Victor Muller – Saab CEO – during the meetings that took place in Stockholm made it clear to the Chinese that Saab does not need 640 million, but well 100 million to pay salaries. “We met with Pang Da and Youngman as late as on Tuesday and everything is proceeding according to plan. The cooperation continues and there is no problem with it. Gunilla Gustavs noted.
Thank God.
+1 My thoughts exactly!
(); )
Yepp!
Good news finally~proud to be a Chinese for now lol~
Ok everyone, on the count of three let’s have a collective sigh of relief ….
1, 2, 3
Now, I recommend throwing two bottles of Champagne in the fridge. One for when the NDRC approves the deal and a second one for when production restarts. Make sure the later one is of the top-shelf variety 😉
A couple of facts make me nervous:
1) There has been no official announcement of the deal (yet)
2) Youngman obviously went back on its earlier deal to send a larger sum (why?)
3) We don’t know what Saab had to promise in order to get hold of this cash (I hope they aren’t selling the family silver for very little return)
I would like to wait until we see an official communication before I get too excited.
Don’t think there is any reason to be nervous just yet.
I would like to see the communication too but this is where we are now
Let’s see
There is some sort of explanation of the reduced sum in the post itself.
For further explanation we can only wait
I have read the article. I am still nervous and I await proper clarification.
The only thing that would require clarification, IMHO, is the “DI also say that there is now a new plan to save Saab” part. This “there’s a new plan to save SAAB” thing has been so overtalked over past months that it now looks like a MS-Excel spreadsheet, i.e., Plan A, (…), Plan Z, and then Plan AA, Plan AB, and so on…
As for your concerns about selling the family silver for pennies, the minute SAAB stopped producing cars it got itself into exactly that situation. Priority is and should be one and one only: to salvage the company.
Yes….
We just had a posting about the SAAB/Volvo meet in Belgium. Well this is what I remember from school when we had a meaningful education. How befitting, enjoy.
“How They Brought the Good News from Ghent to Aix”
http://www.bartleby.com/246/644.html
+1
..oh yeah, I remember ‘how they brought the good news from Ghent to Aix’ by Robert Browning. We learnt that in high school. Great!
Great, now get building the 9-5 SW, I want one.
So now we can ask all the definite naysayers to step forward.
.
A very Large box of Kleenex please…….the fat lady is starting to Cry……..
Hopefully the Fat Lady will be heading over to someone else’s venue!
SweGov maybe? 😉
Swedish Government maybe? I hear she has an open booking at GM. Her last performance had to be postponed.
So – she hasn´t got a nervous breakdown yet?! 😉
According to TTELA? The source of this news is DI. But I guess it is too difficult for you guys to be positive towards them or give them some credit for bringing this news.
TTELA is so decent to name DI as the original source of this story, why can’t you guys do the same?
This is so obvious a DI scoop. So bad you don’t want to admit.
TT gives credit to DI, just like TTELA does. They both write: according to DI.
I’m not saying that DI is the best, most reliable or whatever. I only find it very funny that when DI writes something that is not completely correct or positive about Saab they are laughed at and called liars. But when they have something positive about Saab they are immediately ‘ok’.
+1 on the DI translate issue. Very annoying and it keeps me away many times.
.
BoeBoe
Look mate, that’s the way it should be. Get it wrong & you get slated, Get it right & you get a pat on the back……..So??.
Is that your only comment?
Really, come on BoeBoe. Till obviously found this post from TTELA and posted it, does it matter that much to you who originally posted what? I guess it does. It doesn’t matter to most though.
You must be desperate, if you are going to comment and that’s your only comment, what’s at the beginning of a headline, placeholder, or a link. As Jeff said they are mentioned at several places.
BoeBoe
I have often wondered if you were a cynic to the worst degree. However, your information has almost alaways been spot on, even if it is not positive news. But after this comment I am convinced that you truly are a cynic, no matter how accurate your information is.
Lay of the SU crew.
yup start building my next car….. I only want a Saab 2.0T 220PS
Send the fat lady back into her dressing room.
Awesome news!
Excellent news indeed. I’ll wait for the production restart to break out the champagne, but this is an welcome step back from the brink.
.
brink = Hell is only a journey to the other side
Agreed.
+1
Brill!! I will hang out until 2013 so I can have a 9-3 opposed to driving a c 30 peice of s**t it is whe worst car on earth!
If DI is correct (and that is a real if), this is highly unlikely to fail. As Youngman would have been very stupid to put in any money if they didn’t expect a ROI. Which also mean that Youngman most likely have very good reason to believe that NRDC will approve the deal. I very much doubt that NRDC was unaware of this deal in advance.
+1
I predict this is the beginning of the end. Of bad news, that is. Well done to all parties.
whew! This is really good news. This can only get better. Cheers everybody.
Great news to wake up to! Now off to have yet another talk with all those nay-sayers at work ^_^
You can tell them how ‘wonderful’ the C30 is and that you’re looking forward to the new VW (whatever) 😉
LOL, absolutely 😀 Not to forget the truly awesome Toyota that is standing next to my 9-3 every day: “Today is the day when I truly noticed the beauty of that japanese brand”.
The Moose says, “Watch me put another rabbit out of my hat”
” Oh, that’s old trick nevers works,” replied Rocky.
Well poor Rocky was wrong, as he is eternally.
Rocky will never learn…
now i hope this gives saab some breathing room!
Got to be good news Chinese don’t like losing money , so they must be pretty confident of getting it back!
“The safety of money is a license to Saab’s new base of the 9-3 model [Phoenix platform I think]“
SaabSouth
As you say the Chinese don’t like losing money. We don’t know the structure of this deal – I wonder what Saab had to give in return for this reduced sum – not too much I hope.
Baby steps … 10m€ (potentially) received, 990m€ still missing.
Yongman put the fat lady on a diet!
For those about to rock and FWIW
Small steps is how you start a journey not how you finish it.
Now:
Is your Cup half empty or half-full?
We have a TV show here in DK that tries to pessimists get over it.
It’s only a small matter of attitude.
My own company will probably be bankrupt by January. But we are still working on plan G
Good luck for your company. Experienced that with my own, but plan G was the one that worked…
Now this is how every morning should start. With good news 🙂
Now I feel good.
I’ll check Teknikens Värld, Automotorsport.se and NyTeknik to see if there are any naysayers around. 🙂
I’m sure you found some…? 🙂
You should not feel bad if someone calls VM trickster.
Trickster is, in all forms and variations the ones that breaks the power of those who knows and govern the worlds
Loki, Prometheus and Coyote comes to mind.
Those of conventinal wisdom and trust in the godgiven rules don’t really like Trickster.
+1
Name one great person that went the conventional way.
Ah well, I don’t know why they do this. Must be an attitude. But on the other hand it shows that Saab is important because if it were meaningless it did not even have enemies. So just let them be and prove them wrong once and once again.
And I don’t like to call them trolls. Because on my trips to Sweden I learned that trolls are mostly nice and helpful. And they build amaizing cars. 😉
Yes, the troll-moniker is quite difficult to use here. To distinguish the internet-trolls from the lovely people in Trollhättan, I think I’ll call the internet variation “goblins” instead.
“The Internet-goblins are calling me gullible becaus I choose to believe that Mr. Victory has an honest purpose and wants Saab to flourish.”
Sounds good…
Haha:) please forgive me for showing up again:) (Yes Hans H there are Trolls here as well)
Till72. Excuse me for asking but what is it Saab and you guys will try to prove once and once again?? How fantastic the cars are but still “no one” wants to buy them? How dead wrong customers and the market is… that they dont understand how much better Saab is than the competition? Please let us Trolls and the rest of the world outside this community know what we are wrong about and needs to be proved wrong…
Ahhh WB..
Nice to hear you admitting that you are an iTroll..
We don’t reeally have to prove anything.
Someone seems to believe that they can sell the cars and have acted upon that
Accept it.
@Kris
You’re right, nothing much left to prove..:)
IMHO (:)) Believeing belongs in church. In car business you have to have a good product that sells, Saab doesn’t,, and thats a fact.
Accept it.
Believing or not believing is what makes all Stock Exchanges operate
Have you joined the Wall Street protesters?
Leeloo: Let me put it this way;
I like my car.
You and the goblins are trying to tell me that I don’t like my car.
The world is full of fantastic cars that people don’t buy. For some reason or other. If the reason is dumb or wrong, I tell people.
The world is also full of not so fantastic cars that people do buy. That reason may also be dumb or wrong. I will still tell people.
If you don’t want to buy a Saab, don’t. Buy a VW Phaeton. A marvellous car which hardly sells.
@kimvette
Ah, forgot. If Saab makes the Aero-X a bit smaller and with a mid-engine I’ll consider trading in my Porsche.
I see a few new 9-5s on the road now and then, but then again, my office is near a SAAB dealer and the Norwell/Hingham/Hanover area is overrun with SAABs. Just the other day I was in a line of five Saab 9-3s in traffic (various years and trim levels), and then there was another car in front, and then a sixth Saab in front of that one. No caravan to an event or anything, just people commuting. I’m not exaggerating about the popularity of the marque here. 🙂
“Ah, forgot. If Saab makes the Aero-X a bit smaller and with a mid-engine I’ll consider trading in my Porsche.”
I’ll call Saab and let them know.
What BMW is doing:
http://latimesblogs.latimes.com/money_co/2011/10/bmw-shows-off-new-3-series-sports-sedan-.html
The lowly 328i ($34,600 MSRP) will be more efficient, and yet much quicker, boasting a 0-60 of 5.7 seconds.
SAAB needs to take a cue from BMW and start putting in some performance to back their claims. Here’s to hoping the 9-3 replacement will deliver what SAAB needs to compete. 🙂
Fantastic news, , let’s keep it rolling Saab!
Gerrit,you mean the bad economy of the last 3 years!!!