The Three Months Of Saab Automobile’s Reconstruction

Posted on 11. Mar, 2009 by in 2000-2009

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The news has been fairly slow lately, and there is a good reason for it, Saab Automobile AB’s reconstruction process continues.

This three-month reconstruction process for Saab Automobile AB began on February 20th, 2009 when official documents were filed at the Vanersborg court. Immediately following this filing, Saab Automobile AB’s President, Jan-Ake Jonsson held a press conference and took numerous interviews about this process marking a new era of independence from GM.

This process started three days after GM’s viability plan was submitted and presented back on February 17th, 2009. This is where GM indicated that they had no interest in continued ownership of Saab after December 31st, 2009.

The three month reconstruction process, now almost wrapping up it’s first month for Saab Automobile, is expected to be completed by May 20th. It is this date when we will learn of all of Saab Automobile AB’s full intentions moving forward.

In the meantime, there is another date around the corner that I feel is critical, this date is March 31st, 2009.

It is this date when the United States Government will respond to GM’s viability plan and make a determination on whether or not to continue throwing money at it, or allow it to go bankrupt.

It is my hope that between now and then, Saab Automobile AB secures a buyer. If GM does go bankrupt, I am concerned about where the funding will come from that will allow Saab Automobile to continue between March 31st and December 31st, 2009 in lieu of a buyer with funding secured.

With a little more than three weeks to go, I am hopeful that Saab Automobile AB secures a buyer, so that in turn, the Swedish Government provides the other loans needed to secure a bright future for the newly independent company.

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