Discussion
The Recievers press conference was today, no huge revelations
They said that they were sorry about having to sell the museum but that Saab was like "a patient that just keeps bleeding" and they had no duty to keep the culture & history of the company, they just needed to produce funding. They also confirmed (as we have logged throughout this thread.) that there is very little left of any financial worth that has not already been mortgaged or otherwise promised to someone. They have confirmed that there are a number of suitors but the latest announcement by GM with regard to IP & the withdraw of the 9-5 & 9-4x has delayed the process.
They also refused to comment on Youngmans claim to ownership of the PhoeniX platform.
They said that they were sorry about having to sell the museum but that Saab was like "a patient that just keeps bleeding" and they had no duty to keep the culture & history of the company, they just needed to produce funding. They also confirmed (as we have logged throughout this thread.) that there is very little left of any financial worth that has not already been mortgaged or otherwise promised to someone. They have confirmed that there are a number of suitors but the latest announcement by GM with regard to IP & the withdraw of the 9-5 & 9-4x has delayed the process.
They also refused to comment on Youngmans claim to ownership of the PhoeniX platform.
aeropilot said:
The Hypno-Toad said:
The Recievers press conference was today, no huge revelations
They said that they were sorry about having to sell the museum but that Saab was like "a patient that just keeps bleeding" and they had no duty to keep the culture & history of the company, they just needed to produce funding.
What an astonishing statement............!!!!!!!!They said that they were sorry about having to sell the museum but that Saab was like "a patient that just keeps bleeding" and they had no duty to keep the culture & history of the company, they just needed to produce funding.
http://www.reuters.com/article/2012/01/21/us-swede...
The recievers have stated that as yet there is no confirmed bid for the remains of Saab/SWAN.
It has also been reported that the staff of Saab/SWAN have been bringing in their own toilet paper since April. I think once all of this over (finally) there will be some very interesting stories to come from ex-board members & workers.
The recievers have stated that as yet there is no confirmed bid for the remains of Saab/SWAN.
It has also been reported that the staff of Saab/SWAN have been bringing in their own toilet paper since April. I think once all of this over (finally) there will be some very interesting stories to come from ex-board members & workers.
Wheelrepairit said:
The Hypno-Toad said:
I have no idea but I would really like to know.
After all your help on this matter Hypno it's my pleasure to tell you.Debts of just over £46 million.
They did have £335,000 in the bank, however that's gone to the administrators to cover some costs.
Bless em.
Wheelrepairit said:
The Hypno-Toad said:
Wheelrepairit said:
I had nice load of info from the administrators come through the post this morning.
Do we have any news if/when there is going to be a creditors meeting For Saab GB?Well that's what all this info I got through past says.
Volvo are rumoured now to be circling but only for the tooling and the machinery. This would obviously mean the break up of what is left of the company but the receivers have already stated that they want to sell what is left of Saab as a whole.
The interesting thing will be that they will have the money ready to go, will Youngman and Brightwell?
I wouldn't be at all surprised if there was a degree of pressure from the Swedish Government for them to be a preferred bidder too.
The interesting thing will be that they will have the money ready to go, will Youngman and Brightwell?
I wouldn't be at all surprised if there was a degree of pressure from the Swedish Government for them to be a preferred bidder too.
Edited by The Hypno-Toad on Sunday 5th February 12:20
Bloody hell, I must be slipping.
Anyone know what happened at the Saab GB creditors meeting?
In other news;
Youngman, Brightwell & Mahindra seem to be the only ones who are ready to enter bids for the company. The receivers say that they would like to get it all sorted by the end of the month.
Saabs United attitude to Youngman seems to have under gone an amazing U-turn. From promoting them as saviours of the company, it now appears that as far as that board is concerned they are now persona non gratia. Which given the fact that they basically shafted Muller (who at the time was rumoured to be at least 'supervising' the website if not actually paying for it) is hardly surprising.
Their support has now come down firmly on the side of Brightwell, whose spokesman/advisor is a Mr V.Muller.....
To be continued.....
Anyone know what happened at the Saab GB creditors meeting?
In other news;
Youngman, Brightwell & Mahindra seem to be the only ones who are ready to enter bids for the company. The receivers say that they would like to get it all sorted by the end of the month.
Saabs United attitude to Youngman seems to have under gone an amazing U-turn. From promoting them as saviours of the company, it now appears that as far as that board is concerned they are now persona non gratia. Which given the fact that they basically shafted Muller (who at the time was rumoured to be at least 'supervising' the website if not actually paying for it) is hardly surprising.
Their support has now come down firmly on the side of Brightwell, whose spokesman/advisor is a Mr V.Muller.....
To be continued.....
Oh dear, here comes Mr Happy. 
1.) This story is a rumour based on a statement made by the receivers that they have seven bids on the table and that one of them is from a "major European vehicle manufacturer. SaabsUnited and Swade have then claimed that they have heard from "several reliable sources" that this company is indeed BMW. Unfortunately SaabsUnited don't have a good record with "reliable sources" as at various times their have claimed that a major European High Street bank, a major American hedge fund, The Bank Of China, Youngman and North Street Capital were all definetly, absolutley, 100% going to save Saab.
2.) Why would BMW want to buy Saab? Great if they have got a premimum FWD chassis already planned but if they haven't, how long is it going to take to construct one from scratch? Two years? Three years? What is the factory going to do in the meantime? Especially when you consider...
3.) What does Saab now consist of? GM have already stated that the 9-4X is now dead & buried and that they are very reluctant to allow continuing production of the new 9-5. Youngman are still convinced they own the PhoeniX project and if they don't does anyone really believe that GM will let one of its major competitors walk off with that? Which leaves the old 9-3 which no one was buying in the first place and although is now a little out of date, still has GM IP in it. So whats left? (and don't forget SAAB AB could still take the name away.)
For what its worth, here's my two pees worth.
BMW have bid for Saab. Or rather they are bidding for the factories, not for the car company. The Saab factory is a state of the art facility which would comply with all the latest elf and safety, planning codes & enviromental regulations. BMW are still selling cars hand over fist and the extra production capabilites that a factory the size of Trollhatten would be very nice thank you. And the landlords that Muller sold the factories would be a bunch of very happy campers indeed. I would imagine that if any BMW paid for vehicles came down the line in Sweden they would still be wearing the blue & white propeller.
Sorry to be such a misery guts but until a more substanial news site with confirmed sources prints this story I will be taking it with a large dose of salt. Plus all the bids are supposed to still be confidential so I'm quite sure that even if the Bravrians have only bid on the factories, they will be highly delighted that motoring websites all round the world are now discussing it.
Unless of course you want to enter the tinfoil hat zone....
Who has at least leaked information to SaabsUnited and might even been possibly indirectly paying for the site, during the last two years?
Who has now firmly planted his flag in one of the other bidders (Brightwell) camp?
Who would possibly benefit if news of a rival bid from BMW was leaked and was therefore withdrawn?
I wonder....
1.) This story is a rumour based on a statement made by the receivers that they have seven bids on the table and that one of them is from a "major European vehicle manufacturer. SaabsUnited and Swade have then claimed that they have heard from "several reliable sources" that this company is indeed BMW. Unfortunately SaabsUnited don't have a good record with "reliable sources" as at various times their have claimed that a major European High Street bank, a major American hedge fund, The Bank Of China, Youngman and North Street Capital were all definetly, absolutley, 100% going to save Saab.
2.) Why would BMW want to buy Saab? Great if they have got a premimum FWD chassis already planned but if they haven't, how long is it going to take to construct one from scratch? Two years? Three years? What is the factory going to do in the meantime? Especially when you consider...
3.) What does Saab now consist of? GM have already stated that the 9-4X is now dead & buried and that they are very reluctant to allow continuing production of the new 9-5. Youngman are still convinced they own the PhoeniX project and if they don't does anyone really believe that GM will let one of its major competitors walk off with that? Which leaves the old 9-3 which no one was buying in the first place and although is now a little out of date, still has GM IP in it. So whats left? (and don't forget SAAB AB could still take the name away.)
For what its worth, here's my two pees worth.
BMW have bid for Saab. Or rather they are bidding for the factories, not for the car company. The Saab factory is a state of the art facility which would comply with all the latest elf and safety, planning codes & enviromental regulations. BMW are still selling cars hand over fist and the extra production capabilites that a factory the size of Trollhatten would be very nice thank you. And the landlords that Muller sold the factories would be a bunch of very happy campers indeed. I would imagine that if any BMW paid for vehicles came down the line in Sweden they would still be wearing the blue & white propeller.
Sorry to be such a misery guts but until a more substanial news site with confirmed sources prints this story I will be taking it with a large dose of salt. Plus all the bids are supposed to still be confidential so I'm quite sure that even if the Bravrians have only bid on the factories, they will be highly delighted that motoring websites all round the world are now discussing it.
Unless of course you want to enter the tinfoil hat zone....
Who has at least leaked information to SaabsUnited and might even been possibly indirectly paying for the site, during the last two years?
Who has now firmly planted his flag in one of the other bidders (Brightwell) camp?
Who would possibly benefit if news of a rival bid from BMW was leaked and was therefore withdrawn?
I wonder....
And this evenings news is....
Brightwell are out.
They are claiming that they put a deal to GM who originally were very keen but have now told them the deals off. The boss of the Turkish company says that he has never been treated by a multi-national like this and that he is convinced GM do not want Saab to be re-started.
No s
t Sherlock!
Brightwell are out.
They are claiming that they put a deal to GM who originally were very keen but have now told them the deals off. The boss of the Turkish company says that he has never been treated by a multi-national like this and that he is convinced GM do not want Saab to be re-started.
No s
t Sherlock!A phone interview with GM spokesman James Cain published today in the Swedish newspaper Expressen.
General Motors has stopped anyone who wanted to take up negotiations to produce the Saab Cars GM owns the rights to.
"We have not discussed with anyone," says GM spokesman James Cain."Our relationship with Brightwell was that they sent several letters with requests to start a discussion. We answered that we were not interested. There never been any negotiations or discussions."
"Why do not you accept to meet them?"
"We stand by our policy not to sell technology licenses to a new owner for Saab."
"Under no conditions?"
"No."
"Normally in business, everything has a price tag."
"Not in this case,"
"Can you describe why GM does not want to give Saab a chance to survive?"
"They have had several chances to survive. The business has been in terrible shape for a long time. That's why GM, when we had our own problems, we decided to close down Saab. It was not GM's fault that Saab decided to stop paying their suppliers and their employees"
Ouch.
General Motors has stopped anyone who wanted to take up negotiations to produce the Saab Cars GM owns the rights to.
"We have not discussed with anyone," says GM spokesman James Cain."Our relationship with Brightwell was that they sent several letters with requests to start a discussion. We answered that we were not interested. There never been any negotiations or discussions."
"Why do not you accept to meet them?"
"We stand by our policy not to sell technology licenses to a new owner for Saab."
"Under no conditions?"
"No."
"Normally in business, everything has a price tag."
"Not in this case,"
"Can you describe why GM does not want to give Saab a chance to survive?"
"They have had several chances to survive. The business has been in terrible shape for a long time. That's why GM, when we had our own problems, we decided to close down Saab. It was not GM's fault that Saab decided to stop paying their suppliers and their employees"
Ouch.
Edited by The Hypno-Toad on Tuesday 28th February 20:03
Alfa numeric said:
Autocar are reporting that BMW have made moves to revive the Triumph name
Maybe there is something to this after all.
If they are bidding my thoughts would be that it might be to set up a premimum FWD chassis production facility but as I have mentioned on numerous occasions SAAB AB own the name and might well not any new bidder rent the brand again.Maybe there is something to this after all.
And as we have seen from James Cains latest statement it would appear that there will be no GM product (including the current 9-3) for anyone to purchase.
So BMW buy just the factory and in two years time Triumph's start rolling down the production line.
Maybe.
The Hypno-Toad 21/12/11 said:
Spyker: Who knows? And does anyone now actually care?
4.) Spyker? Who knows? Maybe Muller? Maybe CPP? Maybe even Mr Six-Pack and NSC? And who knows maybe they will have the PhoeniX platform?
6.) Muller. ...... he will sail off into the sunset with his Curaco bank account, his yellow Rolls-Royce and possibly even Spyker. As I have always said Mr Muller was never going to come out of this a pauper.
& who should be spotted yesterday wandering around the Geneva Motor Show???4.) Spyker? Who knows? Maybe Muller? Maybe CPP? Maybe even Mr Six-Pack and NSC? And who knows maybe they will have the PhoeniX platform?
6.) Muller. ...... he will sail off into the sunset with his Curaco bank account, his yellow Rolls-Royce and possibly even Spyker. As I have always said Mr Muller was never going to come out of this a pauper.
On the Saab issue he only made two comments; one was that it was sad to see the Lotus stand where Saab used to be and the other was that he couldn’t comment on the bankruptcy proceedings.
Oh but there was one more thing, he confirmed that Spyker are no longer for sale and will be back with a stand at Geneva next year. So as I have always said it looks like he will be walking out from Saab with exactly what he walked in with.
Edited by The Hypno-Toad on Wednesday 7th March 08:14
Saab Guru said:
The Hypno-Toad said:
So as I have always said it looks like he will be walking out from Saab with exactly what he walked in with.
Great! So Muller didn't profit from Saab, contrary to all you've told this past year then. But good old Victor, happily walking away with his assets intact.... unlike the workers in Trollhatten, the workers of Saab GB, the workers of Saab USA, wheelrepairtit poster on here and of course all the staff of all the dealers worldwide who now find themselves out of work.
You really don't get do you? You speak of Muller like he was some sort of messiah who was helping Saab out of the kindness of his heart. He wasn't, he was in it to make MONEY. He quickly found himself out his depth on the finance side of the business and became desperate to keep the company running and in doing associated both himself with some very dodgy individuals and companies. He thought he could make money out of a company that was basically bust before he even bought it. He couldn't and now he will walk away.
And now onto other matters. The anniversary of this thread is in 23 days. Have you got the custard ready?
Saab Guru said:
Why does this topic frequently lack good news.......
http://www.cardealermagazine.co.uk/publish/saab-pa...
Oh. We're up and running again..http://www.cardealermagazine.co.uk/publish/saab-pa...
That's very good news. For people who already own Saabs who did all they could to save the brand. (How is that NG 9-5 by the way?) Quite what it has to do with bringing the brand back to life has me baffled.
Anyway tomorrow I hope to have some very good news on this thread..
"What's that coming over the hill, is it the custard? Is it the custard?"
Mx5guy said:
The Hypno-Toad said:
You don't know that he didn't and I don't either at the moment. Once the bankruptcy procedures have all been completed only then will all the stones have been overturned, then we'll know. I'm quite sure there will be a Swedish government enquiry into the whole affair.
But good old Victor, happily walking away with his assets intact.... unlike the workers in Trollhatten, the workers of Saab GB, the workers of Saab USA, wheelrepairtit poster on here and of course all the staff of all the dealers worldwide who now find themselves out of work.
But surely that would have happened anyway, and the way the story unfolded effectively gave people warning to look for something else/ get out before it completely went.But good old Victor, happily walking away with his assets intact.... unlike the workers in Trollhatten, the workers of Saab GB, the workers of Saab USA, wheelrepairtit poster on here and of course all the staff of all the dealers worldwide who now find themselves out of work.
Where's custard feet? Dr Banjo said:
Hi Toad
Its a hollow victory.
BTW .. Any idea whats happening with the factory ?? Its all very quiet.
It is indeed. Saab was only ever going to survive was if it had been sold to another major manufacturer with the funding to move things on & as we know now with the continuing IP issues GM were never going to let that happen.Its a hollow victory.
BTW .. Any idea whats happening with the factory ?? Its all very quiet.
I've been very busy at work and it has been difficult to keep up to date but it would appear that the administrators are keeping everything very close to their chest. There has been no more confirmed news since Brightwell (Mullers prefered bid) dropped out. The original story was that there had to be a winning bid by the end of this month but there has been no leaks as to who might be the favoured company. No more news on the rumoured BMW bid either.
What is clear is that obviously a lot of Saabs workers are now getting other jobs and some of that experience will be difficult to replace.
I think we might have some more news early next week, if its good or bad is very difficult to tell. I'm sure that someone on here will post that their exclusive sources, that no one else in the motoring press as access to, are 100% sure that the Chinese are very keen to buy the company.... again.
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