Archive for May, 2009

Sweden’s Mona Sahlin Says Swedish Government Should Provide More Help to Saab Automobile AB

Posted on 31. May, 2009 by .

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Sweden’s Mona Sahlin, the Social Democratic Party leader that walked with the Saab employees at the torchlight procession in Trollhattan this past winter, says, according to SVT, that the Swedish Government should have been more helpful to Saab Automobile.

Sahlin: Saab should have been more help

Social Democratic party leader Mona Sahlin believe that Saab should have had more help from the government.

We would have been able to act in the same way as the German government with generous scrapping to get the trade in environmentally friendly cars, “she says to the SR’s Eko.

Saab’s situation could have been different if the government like the German assisted ‘their’ car to get new owners, believe Sahlin.

According to Sahlin Saab still has many interesting stakeholders.

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Swedish Radio Reports Swedish Government Automotive Loans Untouched & Still Available

Posted on 31. May, 2009 by .

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joran Swedish Radio Reports Swedish Government Automotive Loans Untouched & Still Available

Photo Credit: Swedish Radio

The Swedish Government’s Jöran Hägglund, fighting for Saab Automobile’s survival, says that the Swedish Government loans have been untouched since December, 2008 and are still available according to Swedish Radio.

The folks at the Swedish Government, Saab Automobile are happy to hear that the strict rules for these loans actually had a purpose, to keep the money in Sweden while also keeping them out of General Motor’s hands, who are about to file for bankruptcy this coming week.

Car Industry Funds “Untouched”
Statssekreterare Jöran Hägglund. Foto: Markus Dahlberg/Scanpix.

The Swedish government won’t make it easier for Sweden’s ailing car industry to get money from the support package set up by the government to help car-makers like Volvo and Saab last year.

The 3.4 billion US dollar package was set up just before Christmas, but almost 6 months later not a single penny has been paid out.

Top civil servant at the Ministry for Enterprise, Jöran Hägglund, says he is glad that no money has been handed out yet. He told Swedish Radio News that had the rules been more flexible, then much of the money could have ended up in the central coffers of General Motors in the USA, currently about to apply for Chapter 11 bankruptcy. General Motors is the owner of Saab motors.

The government has not yet applied for funds from the EU’s globalisation fund either, according to Swedish Radio News. Labour Market Minister Sven-Otto Littorin promised to do so back in February, but no application has yet been sent in. The department blames the complicated application procedure for the delay. Finland, Germany, France, Malta and Spain have already received money from the fund.

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Saab Australia Promotes 9-3 BioPower SportCombi

Posted on 31. May, 2009 by .

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ausbio Saab Australia Promotes 9 3 BioPower SportCombi

Photo Credit: Saab Australia

Saab BioPower Promotes Alternative Fuels with Queensland Government

Building awareness for the importance of alternative fuels, Saab has provided a BioPower 9-3 SportCombi to the Queensland Government to use as a promotional vehicle for a 12 month period.

Promoting ethanol blended fuels and environmentally friendly vehicles, Saab and the Queensland Government will be a central highlight of Australia’s largest free green festival, Greenfest 2009, in June.

“With Saab BioPower, the first vehicle to run on E85 in Australia, Saab really does deliver on our promise of performance with responsibility,” said Director of GM Premium Brands, Parveen Batish.
[…]

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Saab History Receives Saab Quantum IV 1:43 Scale Model

Posted on 31. May, 2009 by .

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quantumiv Saab History Receives Saab Quantum IV 1:43 Scale Model

Saab History will be receiving the Saab Quantum IV 1:43 scale model to add to the scale model collection shortly.

If anyone is interested in purchasing one of these models, please let me know as I can contact the builder to place additional orders as they are custom built at this time.

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Positive Spirit Amongst Saab Automobile Employees

Posted on 31. May, 2009 by .

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reconstruction Positive Spirit Amongst Saab Automobile Employees

Photo Credit: Sebastian LaMotte / TTELA

TTELA reports that there is a truly positive spirit amongst Saab Automobile employees as of late with the reconstruction extension and creditors debt reduction news.

Here is the piece below translated by Google translate.

Positive spirit among Saab Employees

TROLLHÄTTAN The positive spirit of Saab is on the rise again.

Yesterday’s decision on an extended reorganization contributed to a brighter future for many employees.

– Very good. It is a step forward, “says Rune Qvist.

Tony Löfgren has worked at Saab for ten years. He was given notice in April and now hopes to get back.

When Saab requested for reorganization in February was the mood among employees subdued and many question marks. Three months later, the difference is big.
[…]

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Saab Automobile Creditors Accept Saab’s Debt Reduction & Ability To Extend Reconstruction

Posted on 29. May, 2009 by .

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I just received an e-mail from the folks at the Vanersborg court which have some good news. Saab Automobile AB’s 600+ creditors accept the debt reduction and therefore are allowed to extend their reconstruction until August 20th.

Saab Automobile filed for this extended reconstruction on May 20th
and have been patiently waiting for today’s notice, so this should be another milestone passed for the new Saab Automobile to prevail sometime in June.

Here is the official three-page document received by Saab History this morning. This is another very good day for Saab Automobile,

svgallery=2009_SAAB_AUTOMOBILE_RECONSTRUCTION_EXTENSION_AGREE_5_29_2009

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Swedish Media Report Final Three Bidders For Saab Automobile Are Koenigsegg, Fiat & Renco Group

Posted on 29. May, 2009 by .

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versions Swedish Media Report Final Three Bidders For Saab Automobile Are Koenigsegg, Fiat & Renco Group

The Swedish media via Reuters now report the final three bidders for Saab Automobile.

These final bidders are apparently Italy’s Fiat, Sweden’s Koenigsegg & the Power Circle Investment Group along with the Norwegian Government & U.S. Based Investment Company, The Renco Group.

I find it weird that Fiat is here especially since they were reportedly never one of the original three bidders. Secondly, I also find it strange that the Chinese (Geely & BAIC), are now off their list.

Lastly, I see not Ripplewood, but Renco, the other one of two U.S. Investment companies, this one however, has the worst environmental track record in recorded history.

I am hoping that option number 1, takes the crown as owner of Saab Automobile as they are entirely Scandinavian and work in the automotive business, as number 2 had their chance twenty years ago to counter offer GM and are too big now, and Renco has no business in the automotive industry and has the worst environmental record, creating a PR nightmare for Saab Automobile.

Here’s the piece from Reuters below:

STOCKHOLM (Reuters) – Swedish luxury automaker Koenigsegg is among the remaining suitors of General Motors’ (GM.N) loss-making unit Saab Automobile, a Swedish business daily reported on Thursday, citing undisclosed sources.

The other front-runner for Saab, which was granted protection from creditors earlier this year, is U.S. financier Ira Rennert and his Renco Group, Dagens Industri reported on its website.

The third remaining suitor is Italian carmaker Fiat (FIA.MI), which is also in the running to take over another of GM’s European units, Germany’s Opel, the paper added.

Saab has said it has narrowed down a list of suitors to three and hopes to have a deal concluded in the coming weeks after its U.S. parent, which is facing bankruptcy, said earlier this year it would cut loose the brand by year-end.

“According to sources close to GM the toughest battle is expected between U.S. billionaire Ira Rennert and Swedish carmaker Koenigsegg,” Dagens Industri said.
[…]

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Saab Automobile To Begin Recruiting & Re-Employing This Summer!

Posted on 28. May, 2009 by .

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Trollhattan’s TTELA indicates that Saab Automobile AB is to begin recruiting and re-employing some of the recently dismissed employees.

Here is a rough translation through Google’s Translate, can you tell it’s been almost 5 years since I’ve been taking Swedish classes at Folksuniversitet in Stockholm? I got to get back to pick up where I left off, this google translate is getting annoying!

Saab begin to recruit this summer

TROLLHÄTTAN Now it’s clear that Saab Automobile re-employ some of the recently dismissed. How many people can come back is not clear.
The reason is that the production rate is doubled after holidays.

In last week wrote TTELA that of Saab started looking at the possibility of re-employment, which is a must to cope with an earlier decision to double the production rate. Earlier this week came the decision that the company takes back a number of persons of the 701 who had to go in mid-April. Among them was a 50-tal officials.

– We do not know how many there may be question. It is based on how many who report pre-emption. But we follow the rules for reinstatement, “said Paul Ã…kerlund, klubbordförande for IF Metall in the Saab.

He expects that it will take some weeks to reach the number needed to cope with rate increases. To begin with, should among other things such as workstations and stocking densities relayed.
[…]

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