SAAB file for bankruptcy

[grober]

Swedish court seizes old Saabs ex Jalopnik
The Swedish bailiff in charge of Saab bankruptcy hearings has seized all 109 cars from the company museum. Although the bailiff can not sell the cars during the restructuring of Saab, it does mean he gets to hold on to them and, you know, have his way with them or something. The bailiff had been hoping to sell one of the exhibits to raise money for the creditors, who they say Saab owes 150 million euros in debt.

 

[Dieselman]

Swedish court seizes old Saabs ex Jalopnik
The Swedish bailiff in charge of Saab bankruptcy hearings has seized all 109 cars from the company museum. Although the bailiff can not sell the cars during the restructuring of Saab, it does mean he gets to hold on to them and, you know, have his way with them or something. The bailiff had been hoping to sell one of the exhibits to raise money for the creditors, who they say Saab owes 150 million euros in debt.

Well that'll help then.

 

[bpsorrel]

No need to worry guys, Saab enthusiasts are going to get together and buy them before the dirty debt collectors can get their grubby hands on them!

Buying Saab Museum cars?

 

[Dieselman]

They must be mad to think about it.
Let the administrator sell them off for peanuts and buy them at the knock down price.

 

[nick mercedes]

No need to worry guys, Saab enthusiasts are going to get together and buy them before the dirty debt collectors can get their grubby hands on them!

Buying Saab Museum cars?

Why mess about buying the cars, they could club together and buy the company, it's not like its worth anything.

Expect a Rover/LDV style lift and shift to China in a few months.

 

[bpsorrel]

Sadly, I agree with you Nick....

 

[grober]

SAVED ---AGAIN?? RSS News Feed Saab saved by first loan payment from China's Youngman - SaabCentral Forums

 

[Red C220]

Not a surprise really is it. The Chinese have been hovering there or thereabouts for a while.

Their national policy of not allowing it's wealth offshore means that those companies (and very wealthy individuals) with money have to look for increasingly inventive ways to get their cash out of China.

Buying foreign companies for their intelectual properties then moving a proportion (read almost all) of production onto China is a good way to do it.

 

[davidjpowell]

Vultures are circling....

BBC News - Saab rejects Chinese takeover offer

 

[wemorgan]

This will surely go down as the most drawn-out automotive company death.

But in the meantime they remain good value second-hand buys IMHO.

 

[Red C220]

Little bit of high profile poker going on here.

 

[bpsorrel]

This will surely go down as the most drawn-out automotive company death.

But in the meantime they remain good value second-hand buys IMHO.

They are. And sad for people like me that have one to sell! LOL!

 

[wemorgan]

So are you saying I was less than wise buying one only the other week?

To be honest, it was of such an age/price that future residuals are a none issue to me.

 

[bpsorrel]

You weren't wrong. Saabs at the right price are great cars. We've enjoyed ours immensely - I'm just a bit miffed at the huge depreciation due to the bad timing!

 

[MacCLS500]

Is the plane business still ongoing or is that seperate.

 

[Dieselman]

Is the plane business still ongoing or is that seperate.

That has been separate for the last 60 years.

 

[bpsorrel]

Looks like Saab has been saved....

Update: Saab rescue deal done - Autocar.co.uk

What the future brings, who knows!

 

[wemorgan]

100m Euros for the new 9-5 tooling and production line.....bargain.

 

[Red C220]

Full house beat the flush, China rakes in the pot.

Everybody happy and employed.......in Shanghai.

 

[grober]

http://www.nytimes.com/2011/10/29/b...om-the-brink.html?_r=1&partner=rssnyt&emc=rss