Discussion
VeeFour said:
aeropilot said:
Yup..... looks like the end of the road to me.
Not what I wanted to hear, the week before I put my car up for sale
Can't see it affecting the value of something that's already worth about a tenth of what it was when new anyway....Not what I wanted to hear, the week before I put my car up for sale
hora said:
Relaible though with easily sourced parts?
Reliable, yes - easily sourced parts... not sure, especially if Saab go tits-up.If you want a 'safe' option, then I think you'd be looking at something with a GM lump, which is the diesel), and I think there was a short run with a V6.
Isn't this just EIB protecting what they have - assets, I.P, technology, etc, and a workforce to support. If the Russian wants, seems EIB want the Russian to put up double, and why shouldn't he? Anything less is raping Saab. Squeezing the Rusky seems like the right thing to do. He can afford to buy assets he can afford the rest too - seems logical it's a full fat deal and understandable EIB don't want half fat with their half souring for nothing - or acting as a buffer to the Rusky investment.
Slade Alive said:
Isn't this just EIB protecting what they have - assets, I.P, technology, etc, and a workforce to support. If the Russian wants, seems EIB want the Russian to put up double, and why shouldn't he? Anything less is raping Saab. Squeezing the Rusky seems like the right thing to do. He can afford to buy assets he can afford the rest too - seems logical it's a full fat deal and understandable EIB don't want half fat with their half souring for nothing - or acting as a buffer to the Rusky investment.
Its just crazy how many theories and counter theories there are running about.As far as I can see the whole point in selling the buildings and parts to Antonov was to pump some liquidity into the company. If the EIB basically decide to take all that cash to pay off the debt, how are Saab then going to pay any bills? Especially when the line of credit that EIB has set up is then also being withdrawn. So if the EIB get their way Saab will be at year zero, no debt to the EIB but 0.00 in the bank. Where is the money to continue running the company going to come from?
Spyker? No.
The Swedish Government? No.
The EU? No.
Antonov? Unless he has a couple of billion down the back of his sofa, no.
Henry, the mild mannered janitor? Could be!
The only way they could get other funds is from sales. They are at a standstill and remember so is the production line, it has been stopped now for nearly a month. Without money coming in for delivered cars they can't pay the suppliers they owe money. Without the suppliers parts, they can't build the cars to get the money.
If you were a parts supplier to Saab at the moment, you really would want cash on delivery. So no cash, no parts, no cars.
Big trouble.
The latest update is that the information on the conditions of the offer was leaked by Antonovs Swedish representative. The EIB, while not denying the conditions, are refusing to comment on any future financial agreement until the deal is done. At the moment, the production line will not be starting tomorrow.
Related to this, is the news that deliveries of the 9-4x which were due to start in the states in June have now been put back to July.
Just another genius example of GMs mis-management of the Saab brand. One of their last decisions was to greenlight the production of that car, which is basically a rebadged Chevy, onto a marketplace which at the moment is crying out for another small 4x4 which is available in petrol only and gets 24-29mpg. Its other unique selling point is that it is being built in that home of quality manufacturered goods, Mexico.
I seriously believe that the only reason GM bought Saab was to ruin them.
Related to this, is the news that deliveries of the 9-4x which were due to start in the states in June have now been put back to July.
Just another genius example of GMs mis-management of the Saab brand. One of their last decisions was to greenlight the production of that car, which is basically a rebadged Chevy, onto a marketplace which at the moment is crying out for another small 4x4 which is available in petrol only and gets 24-29mpg. Its other unique selling point is that it is being built in that home of quality manufacturered goods, Mexico.
I seriously believe that the only reason GM bought Saab was to ruin them.
The Hypno-Toad said:
Antonov? Unless he has a couple of billion down the back of his sofa, no.
Isn't this exactly what it's about? That he likely has. Saabs future isn't with a paid off loan, zero in the pot. EIB's role isn't return of their loan. They'll do what's best for Saab, which does not include killing them off.
The Hypno-Toad said:
The latest update is that the information on the conditions of the offer was leaked by Antonovs Swedish representative. The EIB, while not denying the conditions, are refusing to comment on any future financial agreement until the deal is done. At the moment, the production line will not be starting tomorrow.
Related to this, is the news that deliveries of the 9-4x which were due to start in the states in June have now been put back to July.
Just another genius example of GMs mis-management of the Saab brand. One of their last decisions was to greenlight the production of that car, which is basically a rebadged Chevy, onto a marketplace which at the moment is crying out for another small 4x4 which is available in petrol only and gets 24-29mpg. Its other unique selling point is that it is being built in that home of quality manufacturered goods, Mexico.
I seriously believe that the only reason GM bought Saab was to ruin them.
I thought it was because Ford bought Volvo, and what with Ikea everything Swedish seemed fashionable?Related to this, is the news that deliveries of the 9-4x which were due to start in the states in June have now been put back to July.
Just another genius example of GMs mis-management of the Saab brand. One of their last decisions was to greenlight the production of that car, which is basically a rebadged Chevy, onto a marketplace which at the moment is crying out for another small 4x4 which is available in petrol only and gets 24-29mpg. Its other unique selling point is that it is being built in that home of quality manufacturered goods, Mexico.
I seriously believe that the only reason GM bought Saab was to ruin them.
davepoth said:
The Hypno-Toad said:
The latest update is that the information on the conditions of the offer was leaked by Antonovs Swedish representative. The EIB, while not denying the conditions, are refusing to comment on any future financial agreement until the deal is done. At the moment, the production line will not be starting tomorrow.
Related to this, is the news that deliveries of the 9-4x which were due to start in the states in June have now been put back to July.
Just another genius example of GMs mis-management of the Saab brand. One of their last decisions was to greenlight the production of that car, which is basically a rebadged Chevy, onto a marketplace which at the moment is crying out for another small 4x4 which is available in petrol only and gets 24-29mpg. Its other unique selling point is that it is being built in that home of quality manufacturered goods, Mexico.
I seriously believe that the only reason GM bought Saab was to ruin them.
I thought it was because Ford bought Volvo, and what with Ikea everything Swedish seemed fashionable?Related to this, is the news that deliveries of the 9-4x which were due to start in the states in June have now been put back to July.
Just another genius example of GMs mis-management of the Saab brand. One of their last decisions was to greenlight the production of that car, which is basically a rebadged Chevy, onto a marketplace which at the moment is crying out for another small 4x4 which is available in petrol only and gets 24-29mpg. Its other unique selling point is that it is being built in that home of quality manufacturered goods, Mexico.
I seriously believe that the only reason GM bought Saab was to ruin them.
GM first bought into Saab back in 1990-ish when it paid for a 50% stake in the new Saab Automobile when the car making side of the business was 'divorced' from the other parts (Aerospace + Scania), which was long before Ford bought Volvo.
However, Ford's buying of Volvo in 1999, may well have sparked GM's full 100% buyout of Saab the following year.
ALL Saab staff have been told to report to the factory at 07.00 tomorrow morning for an important announcement from Mr Antonov & Mr Muller.
My guess would be; "We can't affford to keep the factory open at the present time. Please collect your calenders, family pictures, jokey coffee mugs and gonks & if we get the money to re-open we'll give you a call,"
I don't know for sure but I think we might have seen the last Saab come down the production line.
My guess would be; "We can't affford to keep the factory open at the present time. Please collect your calenders, family pictures, jokey coffee mugs and gonks & if we get the money to re-open we'll give you a call,"
I don't know for sure but I think we might have seen the last Saab come down the production line.
Or we are about to see a rebirth without the annoying debt that is too much trouble to fund now the easy money has been stripped out by the owners in salaries, fees, options and pension contributions.
I'd be surprised if it were to fold without the intention of returning re structured.
I'd be surprised if it were to fold without the intention of returning re structured.
RedLeicester said:
Where are you getting this info Toad?
Easy to find on the net if you have a look around. 
The announcement was that they are now engaged in 'Plan B', which is to go forward without any extra funding from the EIB and getting outside sources to pump money in to not only to regain liquidity but to pay off the EIB debt. So I would imagine that would be in the region of 750 million euros to get them past the summer, let alone introduce any new models.
I'll be interested to hear who's got that sort of loose change lying around at the moment.
The staff have been told to prep the production line to re-start 'in a few days' and to change the tooling for the new Model Year
In other news, two of their suppliers have said that they will be closing production lines and laying people off unless they recieve payment from Saab by the end of the week.
The curtain is still to drop on this farce.
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