Trollhättan, Sweden’s Newspaper TTELA, On Saab’s Future

Posted on 17. Feb, 2009 by in 2000-2009

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Photo: Tomas Fasth / TTELA

TROLLHÄTTAN, Sweden’s TTELA reiterates that today is when GM presents its business plan to the U.S. Treasury when the business plan gets submitted and Saab’s fate is to be determined.

The writer, Anders Sandahl, indicates the final decision makers effectively responsible for Saab Automobile’s future. I believe there also many people at General Motor’s level that we’re not hearing about this time however that we should be.

As I’ve said before and I will say again, I am hoping that the Swedish state secretary Jöran Hägglund will have the final say. One thing is interesting, it appears that it’s still unclear if General Motors actually applied for the $600 million dollar loan from the European Investment Bank. Today is already shaping up to be an “interesting” day.

Here is the detailed report below roughly translated:

Today is Saab’s final day when the owner GM presents its rescue plan to the U.S. Congress.

They have Saab’s fate in their hands

TROLLHÄTTAN frustration on the Saab, whose future may be decided by the GM’s answer tonight. – I must admit that it looks difficult out, “says Paul Ã…kerlund, Metal Club President. While speculation is that GM wants to drive Saab further in a separate company.
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Decision-makers who determine the fate Saab: Prime Minister Fredrik Reinfeldt (M), the U.S. Finance Minister Timothy Geithner (DEM), Industry Minister Maud Olofsson (C), Saab’s CEO Jan Ã…ke Jonsson, GM’s CEO Rick Wagoner, the U.S. President Barack Obama ( DEM), the President of the U.S. Congress Nancy Pelosi (DEM), Olofsson State Jöran Hägglund (C) and GM’s Europachef Carl-Peter Forster.

Sometime during the evening or at night for tomorrow GM will submit its action to the U.S. Congress. The Saab’s fate can be decided.

The company’s good or not, seems to stand and fall with the negotiations between GM and the Swedish government TTELA written about before. But if these are silent. Yet on Monday, it had not come to any firm information from the talks – however, both parties indicated that the ball is in the other.

GM believes that the missing piece is that the Swedish state visit to creditor for a loan of five billion dollars.
The government, however, replied that “Saab is an issue for GM and Fredrik Reinfeldt said on Monday that it calls” full security “for the aid it might provide.

In order to save Saab GM must apply for a loan from the European Investment Bank (EIB). As long as they have not done that the Swedish government does not do anything – and says the ball is in GM.

Paul Ã…kerlund, Metal Club President, believe that there will be a fairly clear indication of Saab’s future on Tuesday evening. But his concern has risen in pace with the slow, quiet, negotiations.
– I was positive in the beginning, but I must admit that it looks difficult out. Indeed, even I see that it starts pointing the other way now.

He is very critical of government policy on this issue and for him there is no doubt that it is they who need to act.
– To say that it is GM that will take the initiative is just wrong. I know that the government has received a draft materials they had several weeks – perhaps months – in which to go through, with proposals for solutions from GM.

He does not exclude that it is negotiating tactics by the government.
– Negotiations have been going on so long now, I do not think they are stuck in the technical.

While speculation on several fronts. The American Automotive News claimed yesterday that GM is planning to pursue further Saab in a separate company, the solution TTELA previously written that Saab themselves wish. The magazine also suggests that GM may be closing its plants in Antwerp Belgian, English Ellesmere Port and at least one in Germany.

It indicates, however, no source for its information, and GM has not commented on them.

TTELA searched on Monday representatives from the business department for a comment, without success. But the news program Rapport said Maud Olofsson, it is quite impossible that the government buy Saab. – The odds of Saab is not very good, “said Economy Minister.

In the same program, said representatives of the metal that it is irresponsible of the government to argue that the only GM to solve the Saab’s problem.

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