Damn.

 

Hmm.

 

I think Saab has the money to pay these suppliers ($625k) but they made an agreement with the others that they would all be paid at the same time.

If push comes to shove, and it looks like it is, I don't think something as (relatively) small as this amount would pull the plug on our ailing patient. I think VM would start selling his own organs to provide bridge funding until The Deal is made.

 

If only people knew how great saabs drive. Its sad to see how much people actually know about them. I would say, and you can disagree with me if youd like, but i would take a saab over 77% of the cars being driven on the roads today. They say they compete with x vehicles in thier class, and do great, but sell very little. When was the last time you seen a SAAB advertised in the paper or magazine like its rivals. Exactly. SAAB should pull some more strings in marketing and advertisement, and quit beating around the bush.

 

UMMMM... SAAB updates their facebook page all day long, that is plenty of marketing

Right guys, that's marketing, right?

 

yikess

 

If/when they do get restarted, I imagine Europe/China/Russia will be their main targets. It'll be years before they have any semblance of a brand image and dealer network in the US.

 

There is some truth to race on Sunday, sell on Monday. I'd like to see Saab in the World Rally Championship to revive the image they built the company on. They've an awesome four-wheel-drive system, put it to good use in WRC or maybe even some touring car races.

Now to find a Viggen!

Feff

 

Not that's it's relevant now, but I actually talked to Victor about that in person when there was a Spyker meet in upstate NY... Last year? He said, 'we have to walk before we can run'.

Oh well.

 

It ain't over til the fat lady sings.

The Rabbit's Poking Out of the Hat Again…

The Rabbit's Poking Out of the Hat Again…

by Jeff on August 19, 2011

We like to give everyone the latest news here. Sometimes (a lot of times) we'll hear whispers that we can't possibly report on, because they're likely to harm Saab's deal making in some way or form. But tonight, we have a very weird and unorthodox story that's breaking

his story comes to us not from a Swedish paper, but from one that covers Asia-Pacific deals. The story that it covers is actually about Hawaiian venture capital deals from a particularly young private equity firm based in New York, that just opened new offices in Colorado, California, and Sweden. Endeavor Advisory Group confirmed to PBN (Pacific Business News) that they're working on a deal with Saab. David Khalizad, a name we most likely will be getting very familiar with in the next day or so, is CEO of Endeavor, and admitted to PBN, "I must say, you guys look like geniuses," when they figured out the deal after publishing their original article, confirming that it was true that they're in talks with Saab. The oddest part is that this is part of a much larger project aimed at Environmental Pojects. Since PBN figured it out from Khalizad, Endeavor all but confirmed it themselves, by posting the PBN article on their website:

In the next 60 days or so, Endeavor plans to announce transactions that will be valued at hundreds of millions of dollars, Khalilzad said.

Those announcements aren't likely to include any Hawaii companies, but it's looking to move pretty fast with renewable-energy projects in this state.

One of Endeavor's first investments could be in the cash-strapped Swedish auto maker Saab, though Khalilzad wouldn't identify the company beyond saying it's a Swedish auto maker. It is also working with companies in Germany and Arizona on renewable-energy projects.

So that's that folks. It's not a quick fix (60 days), it's not detailed yet, but it's certainly being handled by the best in the business. Americans are sitting on trillions in cash, waiting for solid investments on the cheap to take advantage of. Saab seems ripe for the picking. Some might say the cat is out of the bag, others might say the rabbit is popping out of the hat. I'm not going to go into much more about it, and I'm not even going to hint whether or not this story jives with what else I've heard. All I can say is, the rabbit seems like he's ready to come out of his hat again.

Like a Phoenix rising from the ashes?

 

Breaking NEWS

Breaking NEWS
by TimR on August 19, 2011

SaabsUnited can confirm from very reliable sources, very close to the management of Saab, that our previous news regarding Endeavour Advisory Group are true.

The sources also claim that the amount discussed includes taking out the 217 Million EIB loan in a combination of bank loans and equity.

This would bring the cooperation to the top 3 private equity firms in the USA.

 

what a F-show.

 

The neat thing? It's not only in Sweden....

I just got a parts postcard in the mail from the dealer who refused to give me a new gear shift knob under my CPO and instead glued the old broken one back on.

Any guesses what part they want me to come pick up?

 

Sweden Debt Collector Starts Seizing Saab Assets

Sweden Debt Collector Starts Seizing Saab Assets​

Fri Aug 19, 2011
8:49am EDT

Aug 19 (Reuters) - Sweden's Enforcement Authority said on Friday it had started to seize assets of cash-strapped Saab Automobile in an attempt to recover 5.1 million Swedish crowns ($794,000) in debts owed to suppliers.

"One of the banks to which we have sent requests (about seizing Saab assets), SEB, has answererd. We have found money at SEB," Hans Ryberg at the Enforcement Authority said.

The money in the account is now frozen.

"SEB will report on Monday how much money we have seized there," Ryberg said.

Shares in Swedish Automobile, which owns Saab, fell 13 percent at 1241 GMT.

 

I swear, the Swedish government wants Saab to fail. :flipoff:

 

All this over 800k.


WTF.

 

All this over 800k.

WTF.

My thoughts exactly. From the conspiracy side, maybe they want Saab to go bust and then the white knight steps in to buy the pieces REAL cheap.

Feff

 

Seems like a pretty small bill to pay. These folks think they might know where some of the money went, though.

 

"One of the banks to which we have sent requests (about seizing Saab assets), SEB, has answererd. We have found money at SEB," Hans Ryberg at the Enforcement Authority said.

LOL.

What did they think they were going to find, rhubarb pie?

 

Maybe they had the munchies? I dunno, sometimes people are crazy.

 

Cash-Strapped Saab Finds Sympathy In Wealthy Pebble Beach ​

By Chris Woodyard, USA TODAY
August 22, 2011

As dark as things are looking for Saab, the automaker's team was right in the thick of things yesterday at its tent at the Pebble Beach Concours d'Elegance.

A few of the thousands of car fanciers passing by stopped to check out some of the recent Saab models in display, like the 9-5 sedan and 9-4X SUV. Saab shared the booth with Spyker, the high-end sports car maker that acquired Saab when the brand was jettisoned by General Motors as part of its bankruptcy proceeding two years ago.

Those trying out the cars say they will miss Saab is the brand goes under.

"I think there is an element of creation and emotion" to Saab, said Marc Wendorf of San Francisco. "Who doesn't like the cheer for the little guy?"

 

Saab Says May Not Have Funds In Time For August Wages​

AMSTERDAM, Aug 23 8:35AM EDT(Reuters) -

Cash-strapped Swedish car maker Saab said on Tuesday it might again not get funds from investors in time to pay its August wages and it was continuing talks to get additional short-term funding.

Saab owner Swedish Automobile , which bought the company in early 2010 and saved it from closing down, has been scrambling to find new sources of financing since March, when car production was halted as unpaid suppliers refused to deliver parts.

"There is a risk of delayed payment of August wages to Saab Automobile employees as some of the funds that were committed by investors may not be paid in time," Saab and Swedish Automobile said in a statement.

Dutch-listed Swedish Automobile shares extended losses, and traded down 9 percent at 0.65 euros by 1209 GMT after falling as much as 23 percent.

Analysts have said Swedish Automobile, which reports half-year results on Friday, needs a long-term investor to solve its liquidity problems.

Two weeks ago, Saab managed to stave off a bankruptcy threat from unions by finding money to pay July wages to white collar workers, but Sweden's state debt collector started seizing assets from Saab last week in an attempt to recovery money owed to suppliers. (Reporting by Gilbert Kreijger and Will Waterman)

 

August Wages Delayed

Saab August Wages Delayed, Carmaker Seeks Cash​

STOCKHOLM | Thu Aug 25, 2011 3:00am EDT

STOCKHOLM Aug 25 (Reuters) - August's wages for Saab's blue-collar workers have been delayed, the carmaker's Dutch owner Swedish Automobile said on Thursday, and there is a risk white-collar employees will not receive salaries as planned on Friday.

Saab had said earlier this week there was a risk the salaries would not be paid out due to a cash crunch.

"We are working very intensively on getting the necessary funding in but there is no definite date for when the salaries will be paid," Saab spokeswoman Gunilla Gustavs said.

Saab, whose production lines have been at a standstill since April, has been scrambling for short-term cash to pay suppliers and employees.

Sweden's state debt collector started to seize company assets last week, as debts pile up by the day.

Asked if the carmaker planned to file for bankruptcy, Gustavs said: "We are working intensively on fixing the situation with the aim to pay all the short-term costs and get back to production as soon as possible."

Gustavs said Saab was holding talks with the Enforcement Agency which has seized some assets and with unions.

Saab unions have said they will demand bankruptcy if they were not paid within seven days of formally demanding wages. If bankruptcy was approved, a state guarantee on salaries kicks in.

"They have to follow the process to act in the best interest of their members," Gustavs said. "We have an active dialogue with them." (Reporting by Mia Shanley)

 

sad,sad....sad.

 

Tough news that's not entirely unexpected. Without a definite infusion of cash, the lights will stay dark for a while. But apparently over at Saabsunited, things are just awesome!

Griffin up!

:saab

 

But apparently over at Saabsunited, things are just awesome!

Griffin up!

:saab

Laughing out loud here.

 

Saab To Seek Court Protection From Creditors​

STOCKHOLM (Reuters) Fri Aug 26, 2011 7:37am EDT - Troubled Swedish carmaker Saab, owned by Dutch group Swedish Automobile, (SWAN.AS) is to apply for court protection from its creditors, public radio quoted sources as saying on Friday.

Saab, rescued from bankruptcy last year by Swedish Automobile as former owner General Motors (GM.N) prepared to shut it down, has struggled to raise funds to restart production, pay wages and settle suppliers' bills.

Public radio quoted what it called several different sources as saying the company would apply for court protection from creditors. It did not say when this would happen.

It has once before been under a court-appointed administrator when GM was looking for buyers for it in 2009.

A spokeswoman for Saab declined to comment on the report.

 

Saab is Supernatural​

Eric Mayne August 22nd, 2011

Detroit and Pebble Beach, CA were the places to be last weekend for automotive journalists and aficionados.

While the Motor City reveled in its blue-collar roots with its annual Woodward Dream Cruise, the oceanfront west-coast community staged its yearly genuflection to the industry bluebloods. (I once heard Ford global platform guru Hau Thai-Tang describe the events in these terms. Thanks, Hau!)

But my thoughts were with a small group of car enthusiasts gathering in Parsippany, NJ.

Located just west of Newark, the smallish township is home to the U.S. headquarters of Swiss cough-drop maker Ricola AG and once was mentioned in an episode of Seinfeld. There, some 500 Saab owners congregated to commiserate as their world collapsed around them.

I envisioned brand loyalists huddling in quiet circles, vigil-like, as they pondered the financial crisis that threatens to wipe Saab from the automotive landscape. But that's not how it was.

"Very funny," observes Len Lennart, a former Saab executive who addressed convention attendees. "Nobody really seemed concerned."

He adds, with affection: "They're nuts."

That same defiance is demonstrated on the event's Facebook pages.

"Enjoyed the swap meet," says Jeff Shore. "Got some good parts I needed for my '86 9000!"

Adds Scott Hutchings: "Great event! … Iowa next year!!!"

Next year? Saab is headed for the history books and he's talking about the future?

And then it hit me. These people know Saab's secret. The brand is possessed of an unholy power.

The signs have always been there. Consider that Saab is based in Sweden, which is part of Scandinavia, which is home to fairies and trolls and changelings and all things supernatural.

What really inspired the brand's original griffin logo?

And how else to explain the period spanning October 1981 and March 1985, when Saab recorded 42 consecutive monthly gains in year-over-year sales, according to Ward's data.

Only Chrysler has duplicated this performance. Hyundai has actually exceeded it with 45 straight months of sales increases.

Come to think of it, how much do we really know about Chrysler and Hyundai?

 

I really wish they'd have some kind of preview of what the 2012 9-3 would look like to see if it catches the public's eye. I for one....hope SAAB can stay afloat to make the new 9-3 happen.

 

Sweedish Automotive's stock has jumped nearly 60% in the last two days. Wonder if it's speculation or there's a buyer in the wings to save the day.

Feff