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Sweden says no to saving Saab

NY Times

TROLLHATTAN, Sweden - Saab Automobile may be just another crisis-ridden car company in an industry full of them. But just as the fortunes of Flint, Mich., are permanently entangled with General Motors, so it is impossible to find anyone in this city in southwest Sweden who is not somehow connected to Saab.

Which makes it all the more wrenching that the Swedish government has responded to Saab's desperate financial situation by saying, essentially, tough luck. Or, as the enterprise minister, Maud Olofsson, put it recently, "The Swedish state is not prepared to own car factories."...

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This "news" is over one month old!

The most recent development is that approx. seven buyers has shown interest in buying Saab. The hottest buyer is Chineese carmanufactorer Geely...

The reason that the swedish government says as it does, is so that GM won't get their ignorant hands on swedish state fonds. So as long as GM is holding on to Saab, there's no swedish government intervention.

Cheers!

Reply to
Henrik B.

Yes, I read that.

Question is, has GM 'abonded' Saab to its own future or does GM expect payment in some form ?

It looks very odd right now. I do hope Saab pull through and without the throttling hand of US mismanagement, go on to prosper. I have little doubt they have the ability to do so.

Graham

Reply to
Eeyore

Surprise ? NO !

I have been in contact with some Chinese and they are using the current Western economic 'meltdown' to purchase assets at very favourable prices. I know for a fact ( I've been told so ) that this is official Chinese Gov't policy ( and may be subsidised in some cases ). What amazed me was the lack of any attempt to hide this fact. The info was in fact freely told to me.

Graham

Reply to
Eeyore

It's also old news that Geely is not interested in Saab.

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claim that Geely is looking at buying Volvo.Still Volvo have huge problems, loosing approx 1 billion USD, but still it's far better than Saab.

Reply to
Balo

"Balo" skrev i meddelelsen news: snipped-for-privacy@telenor.com...

None the less, the story in Sweden right now is, whether Geely is interested Saab, if the Volvo-deal goes down the (exhaust)pipe. Or if they're interested in both companies..

Reply to
Henrik B.

Geely or not, I don't know.. Still there are good progress in attracting buyers, and also to get technical knowledge and research from GM the next 5 years, so I hope that there will be a deal that secures the future soon.

Reply to
Balo

Where's the guy that bought Remmington Shavers when you need him??? I've just paid an absolute pittance for a Saab 9000 (1996 CD NA manual); i'm such a convert that if i had the funds i'd move heaven & earth to "buy the company"! ;-) Having said that, i'm betting that once Saab is in the hands of someone other than GM the Swedes will be more likely to chip-in.

Reply to
castle56

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