Tag Archives: Mark Phelan

Saab History On The General Motors Press Conference

Posted on 18. Feb, 2009 by .



The General Motors Press Conference Took Place On 6:30pm and ran for nearly an hour until 7:30pm, on February 17th, 2009.

I managed to capture the dialog from what was said with specific attention to Saab Automobile by what the GM Execs have said in addition to what they have said in response to the questions that the journalists both in person and on the phone have asked:

It’s clear General Motors wants “nothing” to do with Saab Automobile AB at all, and could offer GM technology if Saab Automobile were able to “buy” it from them.

The writing on the wall for Saab Automobile AB in terms of General Motors future with them was indicated by none other than Rick Wagoner’s response to Mark Phelan of the Detroit Free Press when asked if there could be a third option with Saab if they aren’t sold or owned by the Swedish Government:

Rick Wagoneer, CEO of GM: “I do not see any continued ownership of Saab”

So, Saab Automobile in the words of GM, have NO future with General Motors at all, so it’s either Saab becomes an independent company and/or sold to a new company because the Swedish Government has expressed that they are also not interested in “owning” Saab Automobile.

What really got under my skin is Rick Wagoneer’s second answer to I believe it was a journalist from Auto Magazine who called in asking if Saab could “buy” GM technology if they got spun off or sold.

Rick Wagoneer, CEO of GM”:: “Yes, Saab could buy the GM technology if that happened, yes”

This really sickens me because this was originally Saab’s innovations and technology, and now Saab Automobile may have to buy their own technology back again?? Not nice at all.

Here is my recap below verbatim:

6:33pm – Thanked Sweden for helping with the plan

6:35pm – GM has conducted a strategic review of the global Saab business and has offered it for sale. Given the urgency of stemming sizeable cash demands associated with Saab operations, GM is requesting Swedish government support prior to any sale. The company has developed a specific proposal that would have the effect of capping GM’s financial support, with Saab’s operations effectively becoming an independent business entity Jan. 1, 2010. While GM hopes to reach agreement with the Swedish government, the Saab Automobile AB subsidiary could file for reorganization as early as this month.

6:36pm GM’s Rick Wagoner indicates that the PR version of the “GM 2009 – 2014 Restructuring Plan” which you can download directly at this link here.

7:00pm – Swedish Journalist in person asks question: How have you been treated in your relations with the Swedish Government regarding the Saab situation?

Fritz Henderson: “We haven’t found a solution yet, has the highest regard”. Fritz Henderson has no difficulties with how they have been treated by the Swedish Government.

7:06pm – Auto Magazine calls in: Could Saab buy GM technology if they were to be spun off?

Rick Wagoneer: Yes, Saab could buy the GM technology if that happened, yes.

7:12pm – Mark Phelan, Detroit Free Press: Talks that if Saab not sold, there will be a 3rd option if the Swedish Government does not take it?

Rick Wagoneer: “I do not see any continued ownership of Saab”

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