For a contemplative holiday season ... no, not for us, not for the long-suffering Saab fans! Let's stop for a moment and get some air. The events of recent days have strained our nerves, and the next 72 hours promise not to be much calmer. What's going on in Sweden?
The situation has, I would say, long since developed its own dynamics, which has overrun all participants. A few months ago, the situation was relatively clear. On the one hand, a crisis-prone traditional manufacturer, the last European to be purchased. On the other hand, Pang Da, the largest car dealer in the world, and Youngman as an industrial partner.
Meanwhile, Pang Da has stepped back for many reasons. The focus is now on a car manufacturer without production, but with a full production crew and a Chinese investor. In between stands Victor Muller.
After months of crisis, the Saab purchase can no longer be supported by purely rational arguments. For all concerned, it is now also and above all the prestige. Or to save face.
Take Saab Partner Youngman. The Chinese have now invested a good three-digit million amount in Saab, without a single car was built. For Youngman, in this case Youngman stands for the People's Republic of China, an exit would be fatal. Because you can not be, what can not be and you do not want to lose face, you will stick to Saab. Of course, everything is done in Stockholm, everything you invest, with the quiet benevolence and under the gaze of the mighty NDRC.
Without her approval, Rachel Pang would have packed her bags long ago and flown back to Beijing. Saab is the fish on the fishing rod of Rachel Pang, and if I have any advice, then you should bring the fish ashore quickly. Because thick fish awaken desires of other anglers.
This is the weak point of our friends from China. Flott does not seem to be going at a big, communist-capitalist mammoth authority. Before one finally puts his signature under the contracts, the authority wants to decide. At the same time, one apparently forgets that the bureaucratic mills in Sweden grind at a higher speed than the slow dinosaurs in the Middle Kingdom. If you do not increase the frequency dramatically, you end up in empty hands in Beijing.
Am Thursday is the hearing of the court in Vänersborg. Victor Muller and Rachel Pang have the opportunity to explain their views to the court and ask for a new administrator and a continuation of the reconstruction. How the court will decide is uncertain. Muller said today that wages are not in sight on Wednesday either. No good conditions to temper the court.
Unfortunately, the last months of the reconstruction did not advance Saab. Whether it would have worked better with another administrator, that's a theoretical question. Maybe the court will not agree to any further extensions. The decision would presumably fall in the next week.
Then, just before Christmas, a bankruptcy would be announced, but that will not be the end. As has often been said, there are investors and the third party who would buy Saab out of bankruptcy. That's the way it is with the thick fish. If you wait too long, they will take Rachel Pang off the hook.
Not for the faint of heart and nothing for the pre-Christmas season. Christmas 2011 is drama and pure suspense. Maybe then 2012 could be contemplative, with a new Saab in the carport.