Saab situation: The big silence in Trollhättan

Did we enjoy yesterday too early? Quite frankly, I do not know. The day started with a Saab press release. The discussion with Youngman and a bank in China continues. Exit uncertain. That was 8: 15, already on my first appointment, and an attunement to today's Saab press in Sweden.

The press text in the original:

Trollhättan, Sweden: Swedish Automobile NV (Swan) announces it is in discussion with Zhejiang Youngman Lotus Automobile Co. ltd. (Youngman) and a bank in China about an equity interest in Swan. Saab Automobile to pay the November wages and continue reorganization. The outcome of the discussions is still uncertain. Any possible transaction would be subject to the approval of the relevant stakeholders.

Swan wants to keep the market informed of any developments.

Then came Hans Hugenholtz. Hugen .. who? Hans Hugenholtz is chairman of the supervisory board of Swedish Automobile, formerly Spyker. In a letter to the Swedish government, he attacks Lofalk sharply. Well, what Lofalk does neither Muller nor Mr. Hugenholtz. At some point it should finally be good with the offended vanities. Because, who wants the state protection of reconstruction, must also accept their rules. Also, if you have chosen the administrator yourself.

In another letter, he offers talks in Stockholm with government officials about changes in the ownership structure.

It goes on. Victor Muller contacts Dagens Industri and makes it clear that it is not the "Bank of China" that is the new Saab investor. Too bad, the Reuters report yesterday sounded very good and the mighty "Bank of China" would have given Saab a huge tailwind. GM wouldn't want to mess with this shareholder. Would have been a dream. Well, it's “a bank from China”, just any other bank.

Meanwhile, it was after 11: 00, my first appointment and the rumor mill in Sweden continued to boil. Briefly, the news about the ticker that she would like to dispose of Swedish government Victor Muller would like and the business will not agree. Shortly after 11: 00 PM came from the Ministry of Economy's denial.

Let's come to the GM question. Do the Americans agree or not? The Swedish press circulates various interpretations of the subject. Some papers are fed by the Victor Muller faction, others by Guy Lofalk. Depending on the source of information, the other side looks bad and I will spare us this slapstick.

It is difficult, if not impossible, to make an assessment. The information is too unclear. In my opinion, the power struggle between Muller and Lofalk continues. The thing has not yet gone and the impression of Sunday was ... wrong. The problems have not been solved, salaries have not been secured and the Saab future is unclear. Negotiations continue and Saab runs out of time. Not good.

Nothing is heard of Saab itself, but nothing at all. It is suspiciously quiet, too calm for my feeling. Experience teaches us that when Trollhättan is silent there is usually nothing pleasing about it.

At lunchtime today, a very good friend asked me over coffee if I seriously believed that Saab would ever build cars again. “Of course they'll build cars again,” I told him. I hope I am not mistaken.

Text: tom@saabblog.net

10 thoughts on "Saab situation: The big silence in Trollhättan"

  • Hello! I have been following this discussion for some time and plan to buy a saab 9-5 bj 2,0 ttid 2011 tomorrow. The question is whether this is wise or not! ??? I'm a fan of Saab fan and drive a Scania R500 V8 for work! Please advise ...

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      I drive a new 9-5 and I'm glad to own one!
      I do not know what the future will bring, but it is a pleasure to see and drive the car every day.

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    As a precaution, I bought a new 9-5 TiD. Now it's still. GM is trying with all means to actively hinder or eliminate competitors (if you should even get this embarrassing idea). Americans ......

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    Hello people
    I only say to the whole game.

    The cat was already a par, in the bag but she is only so long
    in there until the sack is really up too.

    Please do not be angry with me, but who buys a company that
    soon only with the name. Saab Exists and nothing more
    own has since, GM and VM soon sold everything.

    Or you buy a car without an engine.
    Sorry but I can not and do not like anymore.

    I guess I'll have to look for another brand
    I just say my heart for Saab is just bleeding.

    Sleepin Beautis

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    Well, that the whole thing is annoying, I think we all think ...

    The only thing I'm thinking about now is the end of this week regarding November wages ...
    If it stops or if it falls ... I think by the end of this week it will be decided whether GM will be 'nice' and say yes or not ... I don't even like to imagine how my weekend will go when I get a no to read here ... So Tom, make an effort! 😉
    In addition, I have a workshop appointment in Frankfurt at the end of the week, so the tension is increasing ...

    Bankruptcy would be tragic ...

    I don't want to be able to say later: "I had my first SAAB when I was 19, I would have liked to buy one again, but then it was no longer available."

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      I'm in the same situation 😉 Only I treated myself to mine when I was 18 and don't want to change either ... The cars are real character vehicles: SAAB doesn't approve of a few, but SAAB also fits these few percentages ^^

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    Slowly this "up and down, or up again (?) ... Oh no, it's back to the direction of the pit" so on the pointer ...
    It's time for good news. Ideally in the form of a signature from GM ...

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    Big theater or deliberately scattered rumors? Lo and behold, the SWAN share goes up and in Amsterdam today loose 3.8 millions of shares are traded.

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    I thought that was a coordinated solution? Again nothing. It all just sounds like who is to blame. Too bad.

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    Actually, it's really time that the GM Group has its mustard.

    I think that this is where the real pointers for SAAB are sitting - and have been doing so for over 20 years (including the first 10 years in which this company was initially only a 50% shareholder).

    One should now strive in Detroit to get rid of the period of bad fatherhood with a short and crisp "Yes" and at least enable the former daughter to have a good future. Because always playing the bad stepfather is slowly but surely getting very badly received.

    Greetings from HH

    Joachim

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