Saab Automobile Sales Process Continues Uninterrupted

Posted on 08. Jan, 2010 by in 2010-2019

BREAKING:

Saab History has recently learned more details about what it means for Saab Automobile at this time following the statement from GM.

It has been indicated that Alex Partners are truly working with GM to begin the process of liquidation, however, that process won’t really begin until January 15th thereabouts. Also, as previously mentioned, production at the Saab factory will begin this Monday, so how can production continue if a liquidation will run in parallel? It cannot!

This means, most importantly, that the only thing going for Saab Automobile is this “parallel” sales process which has to be completed by January 15th, otherwise, the liquidation process will continue.

The entire situation that was thrown down “unexpectedly” to Saab Automobile from GM today was looked at as unacceptable, given the time immediately following bids that were received last night. Furthermore, having this news just before the start to the big North American International Auto Show was also unacceptable because guess what, the press may be talking about now?

The folks at Saab Automobile are totally outraged by GM’s untimely press release today and one can really wonder if there is some other “hidden agenda”. The question we must ask ourselves is “how can one in good faith receive 5 bids and 11 hours later shift the goal posts again: where until now GM spoke of a ‘wind down’ all of a sudden it became a ‘liquidation!”.

It’s now becoming abundantly clear to everyone that we really don’t know what to expect from GM as to who they are, what they are doing and what’s in store for Saab Automobile.

However, the Saab sales process continues uninterrupted, so here’s hoping for a positive outcome by early next week or sooner!

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8 Responses to “Saab Automobile Sales Process Continues Uninterrupted”

  1. Erik

    08. Jan, 2010

    GM-We our all watching what you do in regards to SAAB! Remember my money and the rest of every American has paid (is paying) for your mistakes in the past. Let’s move forward and follow through with a sale of SAAB. I speak with not only with my mouth, but more importantly my wallet.

    Reply to this comment
  2. karen

    08. Jan, 2010

    from WSJ article by Christoph Rauwald and Gustav Sandstrom on the paradox of studying the bids while starting the wind-down:

    “…As part of a wide-ranging overhaul of GM, the Detroit-based auto maker is preparing for a major restructuring of its European operations to make the business profitable again. In November, GM dropped a plan to sell a majority stake in its core European Opel unit and its British sister brand Vauxhall.

    GM is expected to present details of the planned restructuring in Europe later this month. ”

    it seems unfortunate that none of the four or five final bidders for Saab could find a way to work together, but it is also very likely that the need for a serious reduction in EU-zone auto assembly capacity may be the behind-the-scenes discussion that is complicating what happens to Saab.

    do not panic despite the mixed signals and the ongoing refusal of the Swedish government to nationalize Saab in order to sell it as a whole.

    Reply to this comment
  3. Andy: '79 99, '80 99, '88 SPG

    08. Jan, 2010

    Please continue the grassroots efforts to help save Saab. Following are the email addresses for some of the GM Board of Directors. Please forward them to everyone you know, asking them to write to these board members, requesting that GM sell Saab, rather than closing it down.

    Daniel Akerson: daniel.akerson@carlyle.com

    David Bonderman: dbonderman@tpg.com

    Erroll B Davis Jr: chancellor@usg.edu

    Carol M Stephenson: cstephenson@ivey.ca

    Reply to this comment
  4. Martin w

    08. Jan, 2010

    Thanks for this post Ryan. It brings me some sense of sanity albeit with my growing concern for state of mind of those folks in Detroit. I will look at anything that involves GM with great suspicion for a long, long time.

    Reply to this comment
  5. Ryan

    08. Jan, 2010

    All of this we’re experiencing clearly feels like heavy-handed negotiation techniques since we’ve passed the 12.31.2009 threshold.

    The subtle messages being sent via press release are meant to imply urgency to potentially parties, the Swedish Government, etc. to seal the deal ASAP.

    I know understand why we’re seeing basically all communications as “wind down” talk now.

    Here’s to a hopeful secured buyer next week!

    Reply to this comment
  6. Thair

    08. Jan, 2010

    I agree with Ryan, I think we are all speculating on parts facts of a press release. We shoud not forget within the same press release it also states that they will reviewing pontential bids but everyone seems to be fixated on this winding down of Saab. At this stage all that has happened is Alix Partners have been appointed and we can see from this that they are serious and ready to wind down Saab if necessary. Furthermore I think with the Bernie E bid, especially in the UK it has brought the Saab sale and GM intentions to the worlds media.
    I agree with Ryan, hopefully Saab will have a new owner next week and one of the bids I believe is talking about lower volumes, which indicates that they could still acquire Saab if it is broken down and sold in smaller pieces.

    Reply to this comment
  7. Anders

    09. Jan, 2010

    Thank you Ryan!

    For your good internetpage.

    I ordered a new SAAB 9-3 TTDI the 22 of december and today my father could place a order for a new SAAB 9-3 TDI Vector at SAAB Ana in Trolhättan. I bougth mine at Kungsbacka Bilcentrum. Both are god partners for SAAB. There were no cars in the inventory so I cross my fingers that the factory starts again.

    I hope SAAB will be saved from destruction!

    Best Regards
    Anders Vikingsson

    Reply to this comment
  8. Steve

    09. Jan, 2010

    Hello Ryan,

    Thank you so much for providing reliable information and for all the work you have done… the support convoy and all the rest.

    Also want to mention how much I admire Saab History – I love your site and my wife and friends do too.

    Keep up the good work and we will also be hoping for good news still.

    Steve in CT

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