I try to avoid the media coverage on weekends. I can live with all of the negativity surrounding SAAB Monday - Friday thanks.
So this morning I re-capped on the various stories that made the headlines and I must admit it did not look good which ever way you sliced it.
These days I have become much more objective however I could only conclude that there was not even one positive piece of news. Everything looked pretty gloomy.
Had a great weekend where we at long last decorated the Christmas tree with the kids, drank a little glögg ( Hot spiced wine ) and generally brought in the Christmas spirit.
Then this
SAAB AUTOMOBILE FILES FOR BANKRUPTCY
Zeewolde, The Netherlands, 19 December 2011 – Swedish Automobile N.V. (Swan) announces that Saab Automobile AB (Saab Automobile), Saab Automobile Tools AB and Saab Powertrain AB filed for bankruptcy with the District Court in Vänersborg, Sweden this morning.
After having received the recent position of GM on the contemplated transaction with Saab Automobile, Youngman informed Saab Automobile that the funding to continue and complete the reorganization of Saab Automobile could not be concluded. The Board of Saab Automobile subsequently decided that the company without further funding will be insolvent and that filing bankruptcy is in the best interests of its creditors. It is expected that the Court will approve of the filing and appoint receivers for Saab Automobile very shortly.
Swan does not expect to realize any value from its shares in Saab Automobile and will write off its interest in Saab Automobile completely.
Monday 19 December 2011
Tuesday 13 December 2011
How things change
Was blogging just a passing phase ? - probably but it never really got started.
Just a quick reflection on how things change since April.
Production stopped and no plan for the forseeable future to re start.
Antanov rejected as a potential investor by EIB
Salary payments delayed
Youngman / Pang Da sign MOU with Swan to invest zillions in Saab with plans to develop new models and distribute and manufacture vehicles in both Trollhättan and China. -
Further delays in salary payments but I must admit it was fantastic to get two at relatively the same time.
The press remain on the attack particularly Dagens Industri ( Di ) with their copius amounts of vennom for Saab - I will never understand the reason why but if there isn't a story they invent one regardless and never positive.
Then we have Victor.
If I am truly honest I had serious doubts about this guy both in his words and his intentions.
I have to say that in recent weeks I humbly eat my words.
VM is the magicians magician . and indeed it reminds me a little of the Monty Python sketch where the brave knight fights on and on having had his arms and legs cut off.
I am still not sure of Victor's true intentions but one thing is for sure - True Respect.
Saab is today under court protection from its creditors and an administrator appointed ( Guy Lofalk )and will be defending its right to stay there in the coming days.
GM
As always there is a spnner in the works , a fly in the ointment so to speak
General Motors, Great Mistake, Gross Margin or whatever.
GM have seen the chance to finally kill off the brand that they could never develop. Thinking about it Pontiac, Hummer and Saturn died the death by their own hand. Saab was not so easy and therefore by GM's own in-action in not agreeing to 100% Chinese ownership they effectively do the same thing.
VM is not a man to give up and proposes another constellation. He was likened this morning to a bar of soap ( odly enough )Whenever you think its clearly over VM has another plan up his preverbial sleeve.
Back to Antanov.
Since his arrest in London 2 weeks ago it has been amazingly quiet in the news regarding his alleged bank theft and loaning of funds to VM's company. Only time will tell on this one . On one side without Antanov Saab would have gone straight down the toilet. On the other hand if he had been allowed in as a " visible " investor you can only imagine the field day our friends at Di would have had.
In the latest round we have just Youngman and an un-named Chinese bank.
This Saab journey has been the most amazing in my life and I am pretty certain in corporate history. One day I hope that VM writes about this in minute detail. A best seller in my book ( pardon the pun )
Two weeks without salary and two weeks to Christmas. The shops are pretty empty as half the towns working population is in the same boat.
One way or another it will sort itself out as my mum would say.
For sure it will but I am not brave enough to bet on which way.
Just a quick reflection on how things change since April.
Production stopped and no plan for the forseeable future to re start.
Antanov rejected as a potential investor by EIB
Salary payments delayed
Youngman / Pang Da sign MOU with Swan to invest zillions in Saab with plans to develop new models and distribute and manufacture vehicles in both Trollhättan and China. -
Further delays in salary payments but I must admit it was fantastic to get two at relatively the same time.
The press remain on the attack particularly Dagens Industri ( Di ) with their copius amounts of vennom for Saab - I will never understand the reason why but if there isn't a story they invent one regardless and never positive.
Then we have Victor.
If I am truly honest I had serious doubts about this guy both in his words and his intentions.
I have to say that in recent weeks I humbly eat my words.
VM is the magicians magician . and indeed it reminds me a little of the Monty Python sketch where the brave knight fights on and on having had his arms and legs cut off.
I am still not sure of Victor's true intentions but one thing is for sure - True Respect.
Saab is today under court protection from its creditors and an administrator appointed ( Guy Lofalk )and will be defending its right to stay there in the coming days.
GM
As always there is a spnner in the works , a fly in the ointment so to speak
General Motors, Great Mistake, Gross Margin or whatever.
GM have seen the chance to finally kill off the brand that they could never develop. Thinking about it Pontiac, Hummer and Saturn died the death by their own hand. Saab was not so easy and therefore by GM's own in-action in not agreeing to 100% Chinese ownership they effectively do the same thing.
VM is not a man to give up and proposes another constellation. He was likened this morning to a bar of soap ( odly enough )Whenever you think its clearly over VM has another plan up his preverbial sleeve.
Back to Antanov.
Since his arrest in London 2 weeks ago it has been amazingly quiet in the news regarding his alleged bank theft and loaning of funds to VM's company. Only time will tell on this one . On one side without Antanov Saab would have gone straight down the toilet. On the other hand if he had been allowed in as a " visible " investor you can only imagine the field day our friends at Di would have had.
In the latest round we have just Youngman and an un-named Chinese bank.
This Saab journey has been the most amazing in my life and I am pretty certain in corporate history. One day I hope that VM writes about this in minute detail. A best seller in my book ( pardon the pun )
Two weeks without salary and two weeks to Christmas. The shops are pretty empty as half the towns working population is in the same boat.
One way or another it will sort itself out as my mum would say.
For sure it will but I am not brave enough to bet on which way.
Tuesday 19 April 2011
Happy Easter Mr. Ananov
This is the same as the boxer who saw the jab but missed the quick left hook !
The factory is earily quiet, wating for the man with the wad of cash.
Easter is coming and a few days to re charge the batteries.
In reading articles on competitors it seems very much that the Audi's, BMW's, Mercedes and even Volvo are charging ahead.
VW / Audi in particular are recording double didget increases in certain markets particularly China. These are the markets where Saab need to be and every effort is being made to get there.....as fast as possible.
It seems as though Antanov plays a very hard game with a clear focus on getting what he wants regardless.Is the selling of SAAB property only an intrim solution for achieving what is the eventual goal a major stake in the company.It seems all too obvious.
How would this man deal with running Saab as opposed to banks and sports car companies..A very interesting thought indeed. Possibly Saab needs this type of "investor" to shake it back into life. This is no critism of today's management, on the contrary, dreams and ambitions play a major part. Trying to climb out of 20 years under GM leadership and mindset is incredibly tough.A fresh attitude combined with a " focus of getting what he wants ". Financial muscle is naturally a pre-requisite.
This is going to be an interesting few weeks to see how deep the damage is.
Happy Easter Mr Antanov
The factory is earily quiet, wating for the man with the wad of cash.
Easter is coming and a few days to re charge the batteries.
In reading articles on competitors it seems very much that the Audi's, BMW's, Mercedes and even Volvo are charging ahead.
VW / Audi in particular are recording double didget increases in certain markets particularly China. These are the markets where Saab need to be and every effort is being made to get there.....as fast as possible.
It seems as though Antanov plays a very hard game with a clear focus on getting what he wants regardless.Is the selling of SAAB property only an intrim solution for achieving what is the eventual goal a major stake in the company.It seems all too obvious.
How would this man deal with running Saab as opposed to banks and sports car companies..A very interesting thought indeed. Possibly Saab needs this type of "investor" to shake it back into life. This is no critism of today's management, on the contrary, dreams and ambitions play a major part. Trying to climb out of 20 years under GM leadership and mindset is incredibly tough.A fresh attitude combined with a " focus of getting what he wants ". Financial muscle is naturally a pre-requisite.
This is going to be an interesting few weeks to see how deep the damage is.
Happy Easter Mr Antanov
Wednesday 23 February 2011
One Year on = Independence Day
Interesting that I äm posting exactly one year to the day that Saab became an independent vehicle manufacturer " Independence day " as it is known here at Saab.
A lot has happened in the last year as SAAB strives to come back into the market and meet the goals.
We had the launch of the new 9-5 last summer and it was great to see so many loyal Saab dealers at the launch events which lasted for around 6 weeks.
The event itself was seriously impressive in a kind of quaint Saabish way. Not Spain,Monaco or the south of France as has happened in the past with most vehicle manufactures with bundles of cash......but Trollhättan where else.
A tent in the middle of the test track ( which in fact blew down one stormy summer night and damaged one of the cars.)
The dealer event was split into five workshops
Following a 2 hour test drive on a predetermined route, the dealers from around the world and VIP's ( Yes we had a few of those too ) assembled to first watch the guys of the Saab Performance Team perform their manouvers and tricks at amazing speeds.
The groups were then divided to experience Ride & handling,Infotainment, crash & safety One that I cant remember and my own accessory area.
The products that we had been developing during the turbulent 2-3 years were proudly presented . It was truly GREAT . Low key,sincere and very SAAB.
Production started and as has been repeatedly reported was hampered by suppliers including GM not delivering. Not what we wanted.
Sales targets were missed and there is a strong focus on cashflow as there should be in any company.
Then came the 9-4X A good looking Crossover...........Pity about the diesel.
Today as we celebrate "Independence Day" ( A good film by the way )
A lot has happened in the last year as SAAB strives to come back into the market and meet the goals.
We had the launch of the new 9-5 last summer and it was great to see so many loyal Saab dealers at the launch events which lasted for around 6 weeks.
The event itself was seriously impressive in a kind of quaint Saabish way. Not Spain,Monaco or the south of France as has happened in the past with most vehicle manufactures with bundles of cash......but Trollhättan where else.
A tent in the middle of the test track ( which in fact blew down one stormy summer night and damaged one of the cars.)
The dealer event was split into five workshops
Following a 2 hour test drive on a predetermined route, the dealers from around the world and VIP's ( Yes we had a few of those too ) assembled to first watch the guys of the Saab Performance Team perform their manouvers and tricks at amazing speeds.
The groups were then divided to experience Ride & handling,Infotainment, crash & safety One that I cant remember and my own accessory area.
The products that we had been developing during the turbulent 2-3 years were proudly presented . It was truly GREAT . Low key,sincere and very SAAB.
Production started and as has been repeatedly reported was hampered by suppliers including GM not delivering. Not what we wanted.
Sales targets were missed and there is a strong focus on cashflow as there should be in any company.
Then came the 9-4X A good looking Crossover...........Pity about the diesel.
Today as we celebrate "Independence Day" ( A good film by the way )
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