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Clock Ticking for Teetering Saab
Edmunds Auto Observer ^ | April 29, 2011 | Bill Visnic

Posted on 04/29/2011 1:06:20 PM PDT by winstonwolf33

Nearly a month after suspending almost all production at its assembly plant Trollhaettan, Sweden, because it couldn't pay suppliers for parts, Spyker Cars NV's Saab Automobile is scrambling to finalize a plan to further finance operations before the unit collapses.

Any deal now constructed to save Saab automobile production will involve an intricate web of international players that stretches from Russia to the U.S. Russian banker and investor Vladimir Antonov has tried for weeks to initiate an investment that might steady the cash-strapped Saab – Antonov already has in place a deal to purchase the portion of Spyker Cars' business that produces and sells Spyker-badged exotic cars – but any such deal needed to pass muster with the Swedish National Debt Office (SNDO), guarantor of a European Investment Bank loan to Saab last year, as well as the EIB itself and previous Saab owner General Motors Co.

The SNDO and GM both indicated their approval yesterday of a deal that would allow Antonov to purchase almost 29.9 percent of Spyker, but it appears even as much as the almost $75 million Antonov is said to be prepared to inject may not be enough to stabilize the situation – the company reportedly owes $49.7 million to suppliers for parts already delivered. Saab has asked current stakeholders if they are willing to invest more to help keep the automaker solvent and is courting new investors, including interests from China.

“We have opened up alternative routes to fund the company mid and short term including, but not limited to, discussions with Chinese car manufacturers,” said Spyker CEO Victor Muller in a statement yesterday, saying he was hopeful further investment would happen so production could resume.

(Excerpt) Read more at autoobserver.com ...


TOPICS:
KEYWORDS: automotive; autos; carindustry; cars; saab; sweden

1 posted on 04/29/2011 1:06:24 PM PDT by winstonwolf33
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To: winstonwolf33

It will be a really bad Saab story.....................


2 posted on 04/29/2011 1:14:01 PM PDT by Red Badger (Mitt Romney: The Harold Stassen of the 21st century........)
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To: winstonwolf33

*Sob*


3 posted on 04/29/2011 1:17:07 PM PDT by familyop ("Don't worry, they'll row for a month before they figure out I'm fakin' it." --Deacon, "Waterworld")
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To: Red Badger
I wish I had a pithy comment to make about the imminent demise of Saab but I'm coming up short.

Remember Abba, the pop group? They also come from Sweden.

4 posted on 04/29/2011 1:21:57 PM PDT by SamAdams76 (I am 80 days away from outliving Wendy O Williams of The Plasmatics)
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To: winstonwolf33

“EIB”-I didn’t know Rush was going to buy Saab/sarc.


5 posted on 04/29/2011 1:24:54 PM PDT by getarope (Paddle faster, I hear banjo music!)
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To: winstonwolf33

I wonder what the political demographics of Saab buyers are? I bet they were like those of Volvo.....liberals.

If that is the case, the libs are giving up the Saabs for....Prius’s??


6 posted on 04/29/2011 1:25:39 PM PDT by TMA62 (Al Sharpton - The North Korea of race relations)
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To: SamAdams76

I loved Abba. Still do. They are probably too old to tour anymore. And so Am I....................


7 posted on 04/29/2011 1:25:43 PM PDT by Red Badger (Mitt Romney: The Harold Stassen of the 21st century........)
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To: winstonwolf33

WWJD?

What Will Jerry (Seinfeld) Drive?


8 posted on 04/29/2011 1:40:47 PM PDT by Buckeye McFrog
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To: Red Badger

I loved Abba. Still do. They are probably too old to tour anymore.

They have been offered tens of millions over the years for a reunion tour and have always turned it down. Two married couples at the time, they long ago split and went their separate ways, and apparently have no desire to tour together again.


9 posted on 04/29/2011 1:42:35 PM PDT by Buckeye McFrog
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To: Red Badger

Can I match that with, “The workers feel they’ve been Saabed in the back”?


10 posted on 04/29/2011 1:48:21 PM PDT by count-your-change (You don't have be brilliant, not being stupid is enough.)
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To: winstonwolf33
Something
An
Asshole
Bought
11 posted on 04/29/2011 1:50:35 PM PDT by knarf (I say things that are true ... I have no proof ... but they're true)
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To: Red Badger

Or,... Sob..Sad Sales Sink Saab Sub


12 posted on 04/29/2011 1:51:47 PM PDT by count-your-change (You don't have be brilliant, not being stupid is enough.)
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To: TMA62

“I wonder what the political demographics of Saab buyers are?”

Most of the Saabs I have seen in my entire life were in Boston, specifically, Newton and/or the Cape. I believe they are considered a status symbol amongst the snooty elitist professorial crowd.


13 posted on 04/29/2011 1:55:42 PM PDT by TxDas (This above all, to thine ownself be true.)
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To: winstonwolf33
GOOD! Let the F*&kers FAIL! I have personally HATED all Saab vehicles since they DONATED vehicles to the North Vietnamese to use as vehicles to transport those bastards back and forth for all the "Peace Talks" in Paris! I remember that like it was yesterday! Sanctimonious pukes used to tool around like they were royalty, the press used to treat them like rock stars and Saab was GIVING them these vehicles as a "good will" gesture!

My hate for that company and they way they treated the communist NV's will NEVER end!
14 posted on 04/29/2011 1:56:07 PM PDT by Mr. Jazzy (The United States Marine Corps, your greatest friend or your worst enemy. YOU choose.)
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To: winstonwolf33

I thought Sweden was a socialist heaven. How can this happen?


15 posted on 04/29/2011 1:57:45 PM PDT by blueunicorn6 ("A crack shot and a good dancer")
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To: winstonwolf33

I have owned 3 SAABs, and I loved all of them. My current ride is a ‘93 navy blue SAAB convertible 900 Turbo with 130,000 miles and she’s a beauty. I have told my family I want to be buried in it...


16 posted on 04/29/2011 1:59:04 PM PDT by sdcraigo
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To: Mr. Jazzy

No need to edit yourself, tell us what you really think, ;)


17 posted on 04/29/2011 1:59:12 PM PDT by Spruce
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To: Buckeye McFrog

Actually he favors Porsches. Always wondered why he drove a Saab or BMW on his show. Must be product placement deals.


18 posted on 04/29/2011 2:00:50 PM PDT by Always Independent
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To: Spruce

My ability with subtlety is a gift. HA! Semper Fi!!!


19 posted on 04/29/2011 2:01:47 PM PDT by Mr. Jazzy (The United States Marine Corps, your greatest friend or your worst enemy. YOU choose.)
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To: winstonwolf33

WWGMD?

What would GM do?


20 posted on 04/29/2011 2:02:22 PM PDT by 2banana (My common ground with terrorists - they want to die for islam and we want to kill them)
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To: sdcraigo
Amen to that!. I also had, in the 80's, a 900 Turbo, 5sp...drove it for 10 years, 140k miles, then taught BOTH my daughters to drive on it..it was the first car for each of them..then used it for a station car for 5 more years..

Love the ignition key on the floor..

21 posted on 04/29/2011 2:17:41 PM PDT by ken5050 (Save the Earth..It's the only planet with chocolate!!!)
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To: winstonwolf33; WayneS

Ping to WayneS

Mrs. RQSR, and myself have been Saabists since 1988, and haven’t been without one, or two, or three, sometimes four of them since.

Gimme my old Ford pick em up truck, and my Saabs, and get the “H” outta my way.

It’s a damned shame the Socialists screwed ‘em up. Great cars.


22 posted on 04/29/2011 2:24:20 PM PDT by rockinqsranch (Dems, Libs, Socialists, call 'em what you will, they ALL have fairies livin' in their trees.)
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To: winstonwolf33

Being taken over by GM was the Kiss Of Death for Saab. Saabs became Opels with a Saab badge. Instant major FAIL. Who in their right mind would buy an Opel with a Saab price tag? Right, no one.


23 posted on 04/29/2011 2:29:49 PM PDT by Moltke (Always retaliate first.)
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To: winstonwolf33

They need to go back to the “wingless bomber” with the 2-cycle engine.


24 posted on 04/29/2011 2:38:05 PM PDT by headstamp 2 (We live two lives, the life we learn and the life we live with after that.)
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To: SamAdams76

“Remember Abba, the pop group? They also come from Sweden. “

They, too were great while it lasted.


25 posted on 04/29/2011 2:39:34 PM PDT by chooseascreennamepat (I have a liberal arts degree, do you want fries with that?)
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To: sdcraigo

I’m on my third as well—A 99, 900, and 9-5. I’m not sure what I’ll buy next if Saab isn’t around.


26 posted on 04/29/2011 2:41:54 PM PDT by drb9
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To: winstonwolf33

And Volvo are owned by the CHI-COMS!! :(


27 posted on 04/29/2011 2:44:25 PM PDT by ExCTCitizen (Palin/Bachman 2012 (what will the NAGS say??? :-) ))
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To: blueunicorn6
"I thought Sweden was a socialist heaven. How can this happen?"

Far and away their largest customer is one capitalist nation, that rejected their lousy product.

28 posted on 04/29/2011 2:45:02 PM PDT by NoLibZone (Impeach Obama & try him for treason / Homosexuals reject diversity / Unions finally caught for theft)
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To: winstonwolf33

There was a troll not too long ago telling us how we should be more like Socialist Sweden and drive awsome cars like Saab. I’ll post it I can find it.


29 posted on 04/29/2011 2:46:39 PM PDT by nerdwithagun (I'd rather go gun to gun then knife to knife.)
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To: TxDas
I learned this joke from a blacksheep member of a Boston blueblood family;

"What's the difference between a Saab & a porcupine?"

"On porcupines, the pricks are on the outside.

The glorious irony is we where in his when he told me!

"...nice car, . . . fix the cigarette lighter...

30 posted on 04/29/2011 2:52:57 PM PDT by de.rm ('Most people never believe anything you tell them unless it isn't true."-Groucho Marx)
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To: Red Badger

The better the puns get, the louder the groans.


31 posted on 04/29/2011 2:57:30 PM PDT by yup2394871293
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To: ken5050; sdcraigo

I’ve owned two 900s in the past, an ‘89 & a ‘96, both before GM took over 100% ownership and screwed up the brand. They were certainly fun cars to drive ... and ditto on the floor ignition key! Too bad the ‘96 got totaled in a freak flash flood. I would’ve considered another one in the future w/o GM’s involvement.


32 posted on 04/29/2011 3:00:43 PM PDT by mellow velo
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To: Red Badger

And nothing of value was lost.


33 posted on 04/29/2011 3:02:27 PM PDT by omega4179
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To: Red Badger

I recall ABBA recently turning down a 100 million dollar reunion offer. They might very well be the richest band in history.


34 posted on 04/29/2011 3:36:15 PM PDT by Cosmo (Liberalism is for girls)
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To: mellow velo

I had a 86 Saab 900 with the key in the center of the console. Made a mistake and spilled a little bit of coffee and it drained into the keyhole. A little while later, after I started the car, the key got stuck in the start position and did not go into the run position. This meant that the starter pinon gear didn’t release from the flywheel. Burned out the starter. The electrical system then drained causing the electric fan to stop working leading to serious overheating. What a design flaw.


35 posted on 04/29/2011 4:33:21 PM PDT by Dogfaced Soldier
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To: mellow velo; sdcraigo

I recall in college, seeing the old Saabs racing on frozen lakes upstate NY..always thought I’d like to do that someday


36 posted on 04/29/2011 4:40:07 PM PDT by ken5050 (Save the Earth..It's the only planet with chocolate!!!)
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