Saab Moves to Separate Itself From G.M.

[DainBramaged]

Source: NY Times

Saab, the Swedish automaker owned by General Motors, filed for bankruptcy protection Friday and asked the Swedish government for help in making it an independent car company again.

But it was unclear whether the government would step in to help Saab, in which G.M. bought a half interest two decades ago and assumed full ownership in the 1990s.

Earlier this week, G.M. said that it wanted to cut Saab loose by 2010, as it tries to restructure in order to qualify for more federal assistance. G.M. said in a report to the Treasury Department that it planned to end financial support for Saab by next year.

Saab went to a Swedish court for protection from its creditors, and said the company would — with assistance from the Swedish government — reorganize to pave the way for private investors to buy all or part of the company.

“We explored and will continue to explore all available options for funding and/or selling Saab, and it was determined a formal reorganization would be the best way to create a truly independent entity that is ready for investment,” the managing director of Saab, Jan-Ake Jonsson, said in a statement.



Read more: http://www.nytimes.com/2009/02/21/business/worldbusiness/21saab.html?_r=2

[onehandle]

1. It is my understanding that current Saabs have no resemblance to "real" Saabs of not too long ago.

They will have to build a whole new car.

Or at least the old ones.

[K8-EEE]

7. I love my 2004 Saab wagon and plan on driving it several more years

I don't know if it's a "real" Saab or what, but it's been a great car for us -- 75,000 miles and still going strong.

[Myrina]

2. It should. Original SAAB produced great automobiles!

Would be nice to get the original class and quality back. :-)

[Nite Owl]

4. I would love to have

the real Saab back! They were great cars until GM got them.

[PatrynXX]

6. Crossing my fingers for my Uncle

He's worked on fixing Saabs for over 20 years. And one of the best mechanics for Saab where he lives. If Saab went bye bye, who knows how that would affect him.

[maxsolomon]

3. As the happy owner of a 1991 900s w/ 195K on it.

let me say: PLEASE MAKE IT HAPPEN, government of sweden. free Saab from it's american shackles.

when did saab design go downhill? when GM took full ownership.

[Grey]

5. Just had to 'google' it....

That is one hot car, In production for 15 years???

http://www.conceptcarz.com/vehicle/z14178/Saab-900.aspx

[Dover]

8. Did GM purchase them in order to 'kill' Saab (as a competitor)?

Saabs are excellent cars imo. I hope they are able to become independent again and kick GM's
arse.

[madrchsod]

9. i`ve owned over 25 saabs -

5 - saab 93
http://image.motortrend.com/f/9510765/112_0702_32z+1960_saab_96_rally_car+front_view.jpg

15 - saab 96



and the rest were later models.

i can`t afford to buy these now. rebuilt or good originals go for 4000-5000 and more for special models.

the best two all around car models i`ve ever owned

[DainBramaged]

10. Saabs and Volvos were GREAT cars before the bean counters in Detroit

fucked them up. My ex LOVED Volvo's, had I think four between 1985-1998 before she bought her last Blazer. They never broke down, were tanks, she had three accidents in one of them (none her fault) and never got hurt. Now Saab and Volvo have NO cred left except memories. Another company that should have been left alone.

[Gidney N Cloyd]

11. Hey, GM-- how about a Saab-Saturn spinoff?

They already share a lot of engineering and parts. And Saturn's stores are among the newest and best-run in the industry.

[DainBramaged]

12. Even I think they aren't smart enough to pull that off......

[Psephos]

13. Smart idea...very smart. n/t

[blue_onyx]

14. I've heard people mention even including Hummer

Hummer could be the truck division. I'm not sure how this would work but it's an interesting idea.