Tag Archives: Fredrik Reinfeldt

Swedish Government Needs To Grant EIB Loan For Bidder, Failing To Do So Will Likely Result in GM Not Accepting Bid

Posted on 07. Jan, 2010 by .

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It has come down to this. The Swedish Government needs to grant the EIB loans to any of the interested parties so that they can buy Saab. Failing to do so, GM will likely reject all incoming bids.

It’s clear that when GM’s CEO indicated that the parties have not shown the money, they were really referring to the EIB loan. It’s the EIB loan that gives GM a secured funding source for a number of years.

If the Swedish Government think that all they need to do is provide more information to these parties and GM when they arrive on Saturday, they are totally mistaken. The Swedish Government needs to provide each party, an actual confirmation letter that they will be receiving the EIB loan within 90 days of closing a sales deal with GM. If they don’t do that, it’s pretty unlikely GM will again, accept any bid without it.

I strongly urge the Swedes to contact the Swedish Government and put the pressure on them to make this happen. The Swedish Government cannot afford to be indifferent to Saab Automobile any longer. It’s ultimately up to them. Time is of the essence.

If you are a Swede and you love Saab, you owe it to your country and to all of the people that have worked so tirelessly over the past year to ensure that Saab has a chance at survival.

CONTACT THE SWEDISH GOVERNMENT NOW!

Photo Credit: Regeringen

However, the decision makers for Saab Automobile AB appear to be the five individuals below, so copy and paste your message and get it out to all of them. This shouldn’t take more than 5 minutes of your time.

If you also want to call them directly through an international phonecall to really get through, you can call like others have requested Telephone Number (+46 08-405 10 00), and ask for the office of any minister you want to talk to.

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Industry Minister Maud Olofsson:

I ask that you click on this link here (http://www.regeringen.se/sb/d/7452) and send her a message directly to Minister Maud Olofsson as others have already been doing since yesterday.

Maud Olofsson, Näringsminister, vice statsminister
Telefon work 08-405 10 00
e-post till Maud Olofsson, via registrator
Eva Ankersjö, Assistent
Telefon work 08-405 80 70
Titti Aunér, Statsrådsassistent
Telefon work 08-405 45 82
 
Sweden’s State Secretary Joran Hägglund:

I ask that you click on this link here (http://www.regeringen.se/sb/d/7452) and send a message directly to Secretary Joran HÃgglund.

Jöran Hägglund
Statssekreterare hos Maud Olofsson
work 08-405 10 00


 
State Minister, Fredrik Reinfeldt

I ask that you click on this link here (http://www.regeringen.se/sb/d/7452) and send a message directly to State Minister, Fredrik Reinfeldt.

Fredrik Reinfeldt, Statsminister
Telefon work 08-405 10 00

 
Social Minister, Social Party, Goran Hägglund

I ask that you click on this link here (http://www.regeringen.se/sb/d/7452) and send a message directly to Social Minister, Social Party, Goran HÃgglund.

Växel work 08-405 10 00
Fax fax 08-723 11 91
Besöksadress work Fredsgatan 8
Postadress postal 103 33 Stockholm

 
Finance minister, Anders Borg, Anders Borg.

Anders Borg, Finansminister
Telefon work 08-405 10 00
I ask that you click on this link here (http://www.regeringen.se/sb/d/7452) and send a message directly to Finance minister, Anders Borg.

hans
Hans Lindblad, State Secretary
Telefon work 08-405 48 39

I ask that you click on this link here(Regeringen.se) and send a message directly to Hans Lindblad.

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The Remaining Pieces Of The Saab-Koenigsegg Sale

Posted on 26. Oct, 2009 by .

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TTELA has recently published a good piece providing clarity for the remaining pieces of the Saab-Koenigsegg sale from GM following the EIB loan application approval last week.

Effectively, the EU Commission is the next step, then the Swedish Government needs to agree to this as a guarantor, then the BAIC deal needs to be complete and finally the GM sale and service agreement, finalized.

Here is the piece below, loosely translated by Google.

I can say yes to the EIB to lend 4.1 billion to Saab, but there is no money unless the Swedish government goes into the walls tier. Thus, there remain a few pieces of the puzzle.

Saab one step closer to goal
[…]

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Mona Sahlin Vs. Fredrik Reinfeldt On Saab’s Future

Posted on 02. Jun, 2009 by .

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Sweden’s Mona Sahlin and Fredrik Reinfeldt duel it out on SVT on Saab’s Future.

Their positions are simple, Mona Sahlin believes that the Swedish Government should help more, and Reinfeldt opposes.

An interesting debate, and even more interesting for those familiar with the Swedish language.

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Swedish Minister Maud Olofsson Visits Trollhättan, Sweden

Posted on 23. Feb, 2009 by .

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Photo Credit: Saab History / 2005

TTELA reports that the Swedish Minister Maud Olofsson, plans on visiting Saab Automobile’s management board In Trollhättan, Sweden today, Monday, February 23rd.

Olofsson, along with Labor Minister Sven-Otto Littorin as well as Secretary of State Jöran Hägglund, and regional coordinators, Arbetsformedling and the University of Trollhättan (University West), will be meeting to discuss the plans for reconstruction.

There will be press conference covering this meeting at noon.

Here is the piece below loosely translated:

Saab
Published February 22, 2009 Updated February 22, 2009

Today, Olofsson “She should also meet the public”

TROLLHÄTTAN Today is expected to Industry Minister Maud Olofsson to Trollhättan to meet management and union representatives in the Saab.
– She should meet with general also, like the unemployed Trollhätte Borna Kevin Figoni and Johan Hasselberg.

Talks between the government and the Saab is taking off again today and then in place in Trollhättan. In addition to the management of Saab Automobile will nutritional mins tern and her entourage, Labor Minister Sven-Otto Littorin, and Secretary of State Jöran Hägglund, meet along with the regional coordinators.

– We hope for constructive talks and information on what the conditions under which, “says Kent Johansson (C), the Regional Council and regional samordningsman for government and party colleague the Minister for Trade.

Pressure
Johanssons hope is to further the business plans can be presented during the reconstruction work. Plans to get the government to backtrack on his no to the loan guarantee. But any kind of information may already think he is not.
– However, I will insist on the importance of the government also creates solutions for vehicle manufacturers and subcontractors borrowing and on the need for further efforts in areas of research and development in Trollhättan and the Västra Götaland, “he says.
[…]

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

Posted on 17. Feb, 2009 by .

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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.
Related

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.
[…]

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Saab History On Swedish Government’s Position On Saab

Posted on 17. Feb, 2009 by .

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This past December, I was delighted to see the Swedish Government come through with a financial support plan for Saab. This plan was offered, after the whole discussion on possibly nationalizing Saab which there were a number of media sources covering. We learned shortly after the presentation of the financial support plan that the Swedish Government did not want to “own” Saab, but would help if necessary.

The news over the past two weeks referencing the Swedish Government’s position, specifically Maud Oloffsson, Fredrik Reinfeldt’s & Göran Hägglund,( the leader of the Swedish Center Party’s) statements have really surprised me because they are almost an entire 180 from their position late last year.

However, it’s Sweden’s State Secretary Jöran Hägglund (not to be confused with Göran spelled with a G instead of a J, thank you JV), that still gives me some optimism about Saab Automobile’s future.

I am hoping that the Swedish government makes the right decision sooner than later, because there is a lot at stake for them if they make the wrong decision.

I mentioned earlier that although I am a proponent of nationalizing Saab, at this point, all I am looking for is for the Swedish Government to show their support and for Saab Automobile to succeed in their efforts to be independent. I believe it is the Swedish Government’s responsibility to their people to support Saab, much like it was when they began. Why do I say that it is the Swedish Government’s responsibility, well a precident was set when the company began.

Since 1947, Saab Automobile has been inextricably linked with its Swedish roots as an innovative and progressive automobile company. The heritage of Saab Automobile originally began in 1937 as an aircraft company. The formation of Saab was in response to the immediate requirements of the Swedish Government during the War, so it’s foundations began as a byproduct of the Government’s needs for economic and societal security (funded by the government).

While there is no question that Saab is a Swedish brand, the dire straights that the parent company (General Motors) is currently in, could mean the end of Saab. This could effectively end 60+ years of uniquely Swedish innovations, engineering and significant contributions to the automotive industry as a whole. Not only will there be an economic void of monumental proportions, there will also be a total loss of national pride and identity for the country of Sweden.

Across Sweden, industry, academia and Government will all be affected if Saab were to be no more. It is clear that reversing this trend is the best way for Saab to maintain its unique Swedish design, engineering, innovation and identity. I believe that Sweden supporting Saab Automobile, is the proper and most suitable method in order to continue economic security for the country.

If the Swedish government is truly serious about meeting their goals of economic and environmental security & sustainability, much like they were back in 1937, they will move quickly to support their Saab Automobile company.

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Joran Hagglund, Sweden’s State Secretary On Saab Tomorrow

Posted on 17. Feb, 2009 by .

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Joran Hagglund, the state secretary, opposed to Göran Hägglund, the Swedish Center Party, who is actually fighting for Saab Automobile AB’s success has recently talked withreported to Reuters.

Joran Hagglund says that he does not expect Saab to be sold or liquidated in the GM Business plan that will be announced tomorrow.

This is good news, and is probably the only good news coming from a Swedish Government official over the past few weeks. It is my hopes that his wishes trump those of Maud Olofsson, Fredrik Reinfeldt and Göran Hägglund tomorrow when the GM business plan is delivered to the U.S. Treasury.

Joran Hagglund, state secretary of the Swedish Industry Ministry, said he did not expect GM’s restructuring plan, which it must submit by Tuesday in exchange for billions of dollars in federal loans, to include a proposal for Saab and other non-core assets to be liquidated or sold under protection of a bankruptcy court.

“Now I don’t think this is a likely scenario tomorrow. But if that is the case, it will be a process where they work out which parts they will keep and which they will not keep,
” Hagglund said in an interview with Reuters.

Hagglund dismissed a report from public service broadcaster SVT at the weekend that negotiations had broken down.

“It is of course the case that GM has a fair bit on its hands back home, which affects how much time and effort they can put into this,” he said of the talks. “But we are continuing the discussions and we will have to see how they formulate the plan that they are to present tomorrow.”

Hagglund said the plans being readied by GM ahead of the Tuesday deadline were likely to include statements on how the group would manage overseas operations such as Saab, but that this did not mean negotiations needed to be concluded by then.

The state secretary repeated that the Swedish state would not become the owner of any car company.

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Swedish Minister Maud Olofsson “At Odds With Saab”

Posted on 17. Feb, 2009 by .

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Sweden’s SVT now reports that the Industry Minister Maud Olofsson as well as the Prime Minster, Fredrik Reinfeldt say that the government is not responsible for ensuring Saab Automobile’s success. Let’s keep in mind, it was Maud Oloffson who introduced the Swedish Government’s financial support plan back on December 11th, 2008.

Furthermore, and this is where I am franky flat out surprised to hear, Olofsson states that “GM has no idea on how to develop their company (Saab), to become sustainable. While I am not surprised to hear that GM has no idea, (when did they ever have a clue?), I am surprised that the Saab section of this plan may not indicate any focus on sustainability (this worries me, and I hope it’s not entirely true).

The terms of the loans for the European Investment Bank as I indicated last week, specifically required the outline of sustainability plans, opposed to the loan for the Swedish Government that only required that the company show its Swedish base and operations almost entirely taking place in Sweden.

So, if the Saab version of the plan does not show adequate sustainability, why is this the case? Was the plan written by American’s with GM for Saab Automobile or was it written by Swede’s from Saab Automobile and added to the overall GM business plan or a little of both?

I am very surprised to hear Maud Olofsson’s position here, in fact, it is absolutely surprising, given Saab’s ethos, culture, Swedish progressive focus on sustainability, etc. So my question here is now, what in the Saab section of the GM Business plan, was not sustainable? If the report calls for more gas driven engines for the next 10 years, I would understand her thinking, but if it talked and showed literal projects to be built that are hybrids and fully electric vehicles in the near term that would turn a profit, then I would be surprised by Olofsson’s response.

Secondly, why does Maud Oloffson and Fredrik Reinfeldt also believe that it is not the Government’s responsibility to take care of Saab Automobile? I guess I feel like I am almost having a double standard here myself now, feeling like I disagree with their position in Sweden because I like the Saab Automobile brand, but I also feel that here in the United States, it’s not the taxpayers responsibility to bail out General Motors. To support my first statement about Saab Automobile, I find the Swedish government’s position kind of ironic today like I mentioned back in November with an article that I wrote that was published by Sweden’s The Local on nationalization. I still think that the Swedish Government has an economic responsibility to their people, much like they did back in 1947 continuing their economy security through branching out and transition their SAAB military aircraft business to a SAAB automotive business. Today, another economic opportunity is present and I believe it is the Swedish Government’s responsibility to once again. The Swedish Government needs to step up to the plate and offer financial support to transition their Saab Automobile business to an independent and fully sustainable business, in order to meet the economic security needs of the country.

I hope we can get a chance to see all of the details tomorrow in hopefully a positive outcome for Saab Automobile AB.

Here is the report below to augment the video (in Swedish) above from SVT.

According to Industry Minister Maud Olofsson (C), it is quite impossible that the government go in and buy the ailing Saab from biljätten GM. The odds-on Saab is not very good, “says Olofsson.

-They have no ideas on how to develop their companies to get profitability. It makes us worried, and it surprises us, “said Maud Olofsson to SVT’s Rapport.

While quoting TV4 news several sources within the Cabinet Office which states that the government is now prepared to let Saab go bankrupt.

According nyhetskanalen.se be sources confirm that the government is not willing to do anything to avoid bankruptcy for Saab. It is important for the Government should be to ensure that taxpayers’ money not at risk, rather Saab may go bankrupt.
[…]

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