I talk to quite a few people here about the whole Saab thing. But they're a funny bunch, as they're very trusting and believing. So when the Unions or the government talk the usual rubbish, and not really answering the questions, they're believed. They don't like to think ill of anyone, because it's 'un-swedish'.
But of course, for those with a more realistic and pragmantic view (or cynical), can see where it's all headed.
The upside of a Saab failure though, will be an upturn in Volvo sales (in Sweden, at least).
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A sad state of affairs for what was once a fine motor company.
Ther was once talk many moons ago of Volvo and Saab merging.
If Volvo hadn't been so generous all those years ago when they let the worlds car manufacturers use their patented three point safety belt system for free they may have ended up owning Ford and GM instead of t'other way round.
The Chevrolet Vega and Ford Pinto would never have been.
What if, eh?
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Yeah, we'd all be riding round in Volvo 240's, unable to see the road for the bumpers..... great!
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A new chapter in the SAAB saga! A broadsheet business section reports that a Chinese company has given SAAB £11.5 million to pay the wages of 3800 staff and in return is getting 582 cars. If this is a full payment, rather than a deposit, this makes the cars £1975 each. Seems cheap,even for a variant of the Vectra!
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thats no way to run a company.
Its for the crapper for sure, as all sensible people realised when GM cut it loose.
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>> Yeah, we'd all be riding round in Volvo 240's, unable to see the road for
>> the bumpers..... great!
Blame the Cans for that chapter in motoring history!
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It's sad but if SAAB was a horse it would be time for a lump of sugar and the humane killer.
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Part of Saab's problem is the market it serves. Enthusiasts for niche sports cars may tolerate a certain amount of flakiness associated with dealing with a small, independent maker and regard it as 'character'. But buyers of £30,000 saloons expect the consistency of service and backup that comes only from a manufacturer with deep pockets. It's hard to see Saab in that category now.
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Seems like the fat lady has lost a little weight, and heading back towards the dressing room-----
inside.saab.com/press-release-swedish-automobile-enters-into-eur-25-million-convertible-bridge-loan-with-gemini-securing-additional-short-term-funding-and-pays-employees-wages/
SAAB seem to have been undermined at every turn by the swedish Government.
This site is an official SAAB blog, by an australian, Steve Wade, who ran an independant blog --
www.saabsunited.com/
Until A few months ago.
He was instumental in raising international support from SAAB owners for Spyker, who when they gained control after over twelve months of back breaking effort, brought him on board.
Both sites are good for anyone interested in SAAB - not a large congregation I know.
However, many speak from ignorance.
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The fat lady's decided to pull out, and won't be singing soon:
inside.saab.com/
Hope she decides to stop singing altogether!
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Sale and lease back of Saab's properties. Hmmm...so they liquidate assets to pay the operating expenses, but how long before we're hearing they can't keep up the lease payments? They need revenue, which comes from selling cars. And even I, as a sympathetic former customer - who thought until quite recently that I'd happily have another Saab one day - wouldn't dream of buying one now. So who will?
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So we are not making cars for another month then.
They seriously think any supplier will supply them now?
basket case.
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Might be some stock going for 50% discount like the last of the Rover 75s when the rug is finally pulled....
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SAAB drowning in Edinburgh! It never rains but it pours
www.bbc.co.uk/news/uk-scotland-edinburgh-east-fife-14085088
Might be some" water logged bargains" around
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www.telegraph.co.uk/motoring/car-manufacturers/saab/8666307/Saab-faces-further-financial-problems.html
July wages and suppliers unpaid.
Has the bell tolled for the last time?
Last edited by: Falkirk Bairn on Wed 27 Jul 11 at 21:12
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"Despite it's difficulties, SAAB say that the current problems are a short term issue".
They're not kidding.
Last edited by: Robin Regal on Wed 27 Jul 11 at 21:19
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My unflagging optimism is starting to flag....
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Rover again, I'm sad to say that a deserving range of cars including some promising new models are likely to be lost, the range of choice will be further reduced, a great pity.
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I tried to order some locks the other day, but they wouldn't give me credit, as they don't like dealing with self employed companies. Mainly because the credit checks only show bad credit, and not the whole picture like turnover, average payment days etc. I dealt with this company a few years ago and had a 30 day credit account, but this was before thay got taken over.
I asked him if he dealt with Saab, to which he replied yes. I then pointed out that I have never paid a single bill late, and their chance of getting money from me will be much much better than getting any from Saab.
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Fat lady gets off stage again.....
www.saabsunited.com/2011/08/salaries-have-been-payed-2.html
Reports on this site are constantly criticising Swedish Government and EIB for resisting investment.
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Yup, The Fat Lady's waiting in the wings again:
This is the Press Release:
inside.saab.com/press-release-saab-automobile-ab-files-for-voluntary-reorganization/
Svenska Dagbladet, along with much of the Swedish press has been generally negative about SAAB throughout, as has seemingly the Swedish government.
It would be interesting to read previous comments from Jay Nagley, of Red Spy Automotive, of whom I have never heard.
I always like to see previous track records of people who predict movements in business ; you then know how much credence to give them.
Anyway, I'm more afraid for SAAB's continuing wellbeing this morning.
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The Fat Lady died in April, and the corpse has been decomposing ever since. The smell has ensured that no-one goes near the grave.
Seriously, its not turned an assembly airgun in 5 months, who on earth is going to supply parts and assemblies for them when they havent been paid for the last lot.
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We will hearing about this in November!
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SAAB can't pay wages - Dave
