Discussion
Saab Guru said:
I don't take kindly to the immature ramblings...
Of course it's up to the moderators that I've reported this post to but in my opinion, this site doesn't need posts like this. Shame on you.Back on topic, it'll be interesting to see what emerges from the bidding of interested parties but I think the *really* interesting events will occur after the bidding's over.
Will Saab have access to any of GM's technology?
Will Saab stay in Sweden?
Will Saab still be called Saab?
Interesting times... and not always in a good way.
K321 said:
people still work at Saab..
the people i know working there have 2 years contracts and are saying a foreign company will buy it and totally rebrand ..its exciting times at Saab,...not the doom and gloom that has been portayed in the media
It would be awesome if this is correct.the people i know working there have 2 years contracts and are saying a foreign company will buy it and totally rebrand ..its exciting times at Saab,...not the doom and gloom that has been portayed in the media
Rebranded , for the European market ? I'll buy that for a dollar !
GM want it dead. The chinese will pick the bones.
I want to see a new SAAB built in Sweeden, just seems a long way off given the situation they are in.
The Hypno-Toad said:
There's a leak in the Swedish press today with regard to the statement that the recievers are supposed to be making tomorrow.
If it is correct it confirms that Saab/SWANs total debt is between 12-13 billion SEK. It then states that Saab/SWANs total assets are 3.9 billion SEK.
Doesn't seem surprising. Name me 1 large company whose (real, realisable) assets are anything like as large as their (crystalised right now) liabilities.If it is correct it confirms that Saab/SWANs total debt is between 12-13 billion SEK. It then states that Saab/SWANs total assets are 3.9 billion SEK.
Both Lofalk & Muller had to be in court today to confirm under oath that the bankruptcy documentation was correct and that there wasn't any other debts and issues that had not been submitted to the receivers.
However, Muller was not prepared to leave it at and issued a statement claiming that Lofalk had hindered Mullers attempts to save the company and that the receivers should start legal proceedings to re-claim his fees. He also claimed Lofalk had made it impossible to accept any other bid than Youngman.
Which is odd when you consider that it is well known that a.) Lofalk orgainsed the failed Geely bid on the 8 October 2011 which froze out Youngman and b.) Muller first announced that he was talking to Youngman on the 4th June 2011, while the company went into Re-Organisation (which was when Lofalk was appointed) on the 21 September 2011. And don’t forget that Muller announced to the creditors meeting on the 1 Novemeber 2011 that the Youngman deal was “the best possible option for the people of Trollhatten and Saab,”
And it turns out that BMW have been in contact with the receivers. But unfortuntely not in the way that many Saab fans would want. Instead taking over the company, it turns out that they would quite like the 2.3 million euros for the batch of test engines that they sent to Saab for the prototypes of the new 9-1 which they have never received.
However, Muller was not prepared to leave it at and issued a statement claiming that Lofalk had hindered Mullers attempts to save the company and that the receivers should start legal proceedings to re-claim his fees. He also claimed Lofalk had made it impossible to accept any other bid than Youngman.
Which is odd when you consider that it is well known that a.) Lofalk orgainsed the failed Geely bid on the 8 October 2011 which froze out Youngman and b.) Muller first announced that he was talking to Youngman on the 4th June 2011, while the company went into Re-Organisation (which was when Lofalk was appointed) on the 21 September 2011. And don’t forget that Muller announced to the creditors meeting on the 1 Novemeber 2011 that the Youngman deal was “the best possible option for the people of Trollhatten and Saab,”
And it turns out that BMW have been in contact with the receivers. But unfortuntely not in the way that many Saab fans would want. Instead taking over the company, it turns out that they would quite like the 2.3 million euros for the batch of test engines that they sent to Saab for the prototypes of the new 9-1 which they have never received.
Edited by The Hypno-Toad on Monday 16th April 21:28
The Hypno-Toad said:
And it turns out that BMW have been in contact with the receivers. But unfortuntely not in the way that many Saab fans would want. Instead taking over the company, it turns out that they would quite like the 2.3 million euros for the batch of test engines that they sent to Saab for the prototypes of the new 9-1 which they have never received.
Oooooppps....... 
aeropilot said:
Oooooppps.......
Oooooppps again...Very slightly O/T - some parts are quite expensive and unavailable now. Need a set of the special 'Dowty' type o-rings for my aircon pipes. All on back order, one is about £6, another abour £9 and a third type only available in a multipack at £19 as they can't justify keeping the others on the shelf. So a search elsewhere.
Petemate said:
aeropilot said:
Oooooppps.......
Oooooppps again...Very slightly O/T - some parts are quite expensive and unavailable now. Need a set of the special 'Dowty' type o-rings for my aircon pipes. All on back order, one is about £6, another abour £9 and a third type only available in a multipack at £19 as they can't justify keeping the others on the shelf. So a search elsewhere.
Are you registered on UKSAABS ?
There is a wealth of knowledge on there especially in the workshop section that has really helped when I needed bits done on my Saab (GM900).
Just a thought.
Dr Banjo said:
Petemate,
Are you registered on UKSAABS ?
There is a wealth of knowledge on there especially in the workshop section that has really helped when I needed bits done on my Saab (GM900).
Just a thought.
Thanks for that - yup! Since my post earlier here I have researched and there are plenty of companies doing various imperial & metric bonded seals, available in assorted kits, so I will be ready for when I start the evaporator change.Are you registered on UKSAABS ?
There is a wealth of knowledge on there especially in the workshop section that has really helped when I needed bits done on my Saab (GM900).
Just a thought.
Ta again
Pete
the 9-5, 9-3 live on:
http://carscoop.blogspot.com/2012/04/baic-unveils-...
"The C70G and C60F mid-size saloons that make use of the older generation Saab 9-5's platform, while the C50E sedan and the C51X crossover are both based on a modified version of the Saab 9-3's architecture."
C70G (9-5)
C50E (9-3)
C51X (9-3)
http://carscoop.blogspot.com/2012/04/baic-unveils-...
"The C70G and C60F mid-size saloons that make use of the older generation Saab 9-5's platform, while the C50E sedan and the C51X crossover are both based on a modified version of the Saab 9-3's architecture."
C70G (9-5)
C50E (9-3)
C51X (9-3)
Some good news for the people of Trollhattan. It is being reported in ttela that half of the staff who lost their jobs when SWAN/Saab folded have now found new work.
Thats obviously not such good news for anyone planning to buy the company as it means a lot of experience in the brand probably won't be coming back. The paper reports that a lot of these former employees are the middle management.
Thats obviously not such good news for anyone planning to buy the company as it means a lot of experience in the brand probably won't be coming back. The paper reports that a lot of these former employees are the middle management.
I think this is interesting....
Its translated directly from DN.SE which is a Swedish newspaper.
[i] The Saab Automobile's bankruptcy is taken over nine billion, and many creditors will not get a dime. But Saab's former owner, Spyker, has managed to show a profit of over 140 million Knr (approx EUR 14 million) just because of the Saab bankruptcy.
"It sounds very strange. Spyker has made a profit at Saab's expense in the bankruptcy. But we never know what lies behind this, what legal documents drawn up between the companies," said Marie Karlsson, Tuula, associate professor of civil law and specialist in bankruptcy matters.
Before the Dutch sports car manufacturer Spyker with CEO Victor Muller at the head bought Saab 2010, the company had a long string of losses behind it and it survived largely due to new loans. After the Saab acquisition strengthened shares on the Amsterdam Stock Exchange, but now it's down at the bottom levels and is trading at about ten cents.
Last year Spyker went even further back. There was loss of EUR 13.8 million, equivalent to more than 120 million Knr.
But still, the Company profits in the last line. The performance report, published on Friday night states that there was a profit in 2011 of 16.2 million, or approximately 144 million. The reasons include that Spyker improved its turnover of 53.7 million, almost 480 million, through Saab's bankruptcy.
In a text message Victor Muller said that they gained by General Motors preferred shares in Saab previously recorded as liabilities, and that these debts through Saab's bankruptcy is now gone. He notes that more information will be in Monday's annual report.
Spyker has entered into several agreements, including with its subsidiary, Saab Great Britain, which has reduced the debt burden significantly. Loans of EUR 130 million, approximately SEK 1.2 billion, has also been redesigned to unlisted shares.
Victor Muller, who currently owns over 30 percent stake of Spyker, but to avoid a mandatory bid for all shares, he will ensure that lower ownership prior to 17 May, the report said.
Spyker, which recently regained its old name after having been called Swedish Autombile (Swan) for Saab period, has 38 employees in Zeewolde. The order book is said to be stocked. A Spyker C8 aileron was delivered in early April.This year, the company has repeatedly been forced to issue new shares to fund GEM - an expensive way to get quick money. Spyker claims to talk with multiple parties to resolve the issue of funding in the longer term. In January resignation of the entire board, except Victor Muller, because of disagreements over funding. American Martin E Button has been elected as chairman, but still people are looking for more members. [/i]
Can someone have a look through that and confirm what I read in to it? In no way am I a financial genius but does that not basically say that Muller managed to transfer all of Spykers debt into Saab Great Britain?
Its translated directly from DN.SE which is a Swedish newspaper.
[i] The Saab Automobile's bankruptcy is taken over nine billion, and many creditors will not get a dime. But Saab's former owner, Spyker, has managed to show a profit of over 140 million Knr (approx EUR 14 million) just because of the Saab bankruptcy.
"It sounds very strange. Spyker has made a profit at Saab's expense in the bankruptcy. But we never know what lies behind this, what legal documents drawn up between the companies," said Marie Karlsson, Tuula, associate professor of civil law and specialist in bankruptcy matters.
Before the Dutch sports car manufacturer Spyker with CEO Victor Muller at the head bought Saab 2010, the company had a long string of losses behind it and it survived largely due to new loans. After the Saab acquisition strengthened shares on the Amsterdam Stock Exchange, but now it's down at the bottom levels and is trading at about ten cents.
Last year Spyker went even further back. There was loss of EUR 13.8 million, equivalent to more than 120 million Knr.
But still, the Company profits in the last line. The performance report, published on Friday night states that there was a profit in 2011 of 16.2 million, or approximately 144 million. The reasons include that Spyker improved its turnover of 53.7 million, almost 480 million, through Saab's bankruptcy.
In a text message Victor Muller said that they gained by General Motors preferred shares in Saab previously recorded as liabilities, and that these debts through Saab's bankruptcy is now gone. He notes that more information will be in Monday's annual report.
Spyker has entered into several agreements, including with its subsidiary, Saab Great Britain, which has reduced the debt burden significantly. Loans of EUR 130 million, approximately SEK 1.2 billion, has also been redesigned to unlisted shares.
Victor Muller, who currently owns over 30 percent stake of Spyker, but to avoid a mandatory bid for all shares, he will ensure that lower ownership prior to 17 May, the report said.
Spyker, which recently regained its old name after having been called Swedish Autombile (Swan) for Saab period, has 38 employees in Zeewolde. The order book is said to be stocked. A Spyker C8 aileron was delivered in early April.This year, the company has repeatedly been forced to issue new shares to fund GEM - an expensive way to get quick money. Spyker claims to talk with multiple parties to resolve the issue of funding in the longer term. In January resignation of the entire board, except Victor Muller, because of disagreements over funding. American Martin E Button has been elected as chairman, but still people are looking for more members. [/i]
Can someone have a look through that and confirm what I read in to it? In no way am I a financial genius but does that not basically say that Muller managed to transfer all of Spykers debt into Saab Great Britain?
Edited by The Hypno-Toad on Sunday 29th April 18:32
(Shines light around... brushes away cobwebs.... fires up thread... chokes on smoke... taps screen...)
Hello? Hello? is this thing on?
More news from the bankruptcy proceedings and this time from the "heard that one before" pile.
Youngman are now out... again. They have withdrawn their offer for the remains of the company. This means that the only people now left looking at what is left of Saab are Mahindra, a new Swedish electric car consortium who want build a new hybrid vehicle at the Trollhatten site & Volvo who just want the tools.
An announcement is due on Wednesday next week. My money would surprisingly be on the electric car consortium. Given that a long time ago a government minister claimed that it would be no great loss if Saab closed as the factory could then build windfarms, it would be a big political victory if Saab could be reborn as a cuddly friendly Prius competitior. I guess it depends on how much political influence is brought to bear on the administrators.
Lets wait and see, as always..
Hello? Hello? is this thing on?
More news from the bankruptcy proceedings and this time from the "heard that one before" pile.
Youngman are now out... again. They have withdrawn their offer for the remains of the company. This means that the only people now left looking at what is left of Saab are Mahindra, a new Swedish electric car consortium who want build a new hybrid vehicle at the Trollhatten site & Volvo who just want the tools.
An announcement is due on Wednesday next week. My money would surprisingly be on the electric car consortium. Given that a long time ago a government minister claimed that it would be no great loss if Saab closed as the factory could then build windfarms, it would be a big political victory if Saab could be reborn as a cuddly friendly Prius competitior. I guess it depends on how much political influence is brought to bear on the administrators.
Lets wait and see, as always..
All readings are nominal; thread is back up to speed
Some sources are claiming that the electric car consortium is a 'done deal', except that it won't be a pure-play electric car operation. Since YM's money seemed to be coming from the Chinese government, and since the Chinese economy seems to be a little, err, uncertain right now, this isn't all that surprising; the time to do this deal was a year ago, or at least January, but now now.
Some sources are claiming that the electric car consortium is a 'done deal', except that it won't be a pure-play electric car operation. Since YM's money seemed to be coming from the Chinese government, and since the Chinese economy seems to be a little, err, uncertain right now, this isn't all that surprising; the time to do this deal was a year ago, or at least January, but now now.
The announcement about who owns what is supposed to be tomorrow so maybe some answer might be forthcoming.
What has been confirmed is that the boss of SAAB AB is very reluctant to let anyone new use the Saab name unless they guarantee to build cars in Sweden.
So no just flying the production line out to India/China then?
What has been confirmed is that the boss of SAAB AB is very reluctant to let anyone new use the Saab name unless they guarantee to build cars in Sweden.
So no just flying the production line out to India/China then?
Maybe Saab AB could be persauded to join the electric car consortium, and use aerospace tech to adapt to cars, maybe with a hybrid mini gas-turbine powered electric vehicle similar to that concept Jaguar...... perfect rebirth of the original Saab branding idea.
Pipedream.... I know, but hey...
Pipedream.... I know, but hey...
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