Quote Of The Day "Bankruptcy Is No Option For Saab" Edition
Lyssna: Saabs vd, Victor Muller, om företagets situation
Whenever a CEO says “bankruptcy is not an option,” you know the game is up. After complaining in this Swedish Radio interview (in English) that his court-appointed administrator is trying to sell Saab off wholesale to the Chinese, Victor Muller trots out Churchillian and Nietszchian calls to arms… in fact, he does everything short of bursting into a spirited rendition of “I Will Survive.” Unfortunately, Muller’s credibility is long gone, and he doesn’t help himself by trying to portray Lofalk as some traitorous backstabber. With Saab months (years? decades?) into its death-flails, and the most recent “rescuer” turning out to be a non-player, is it any wonder Lofalk wants to hand over the mess to the only viable companies involved (especially when Muller calls North Street a “strong partner”)? Muller continues to labor under two basic delusions: first, that he can sell a majority share to the Chinese while keeping Saab an essentially Swedish (or at least European) company and second, that anyone cares whether Saab becomes a Chinese company. Sorry Victor, there’s just nothing left here to fight for…
More by Edward Niedermeyer
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Just shows how much interest there is left in the brand when there are only 3 posts about this {including this one} in the last 3 days. Even if the company does survive what Muller & NDO need to get their heads around is that amount of money needed to get anyone to buy the cars in Europe & America from now on. It is just no longer viable.
The Youngman/PangDa agreement with SWAN is OFF....again... according to reports coming out of Sweden this evening. A press release from SWAN seems to suggest that because the money has failed to arrive for the payroll on Tuesday, Youngman/PangDa are in breach of their agreement with SWAN and therefore Muller has cancelled the deal. It does say however, that talks are still ongoing with the Chinese. A figure of 20 million euros is being mentioned as the bid to take 100% control of SWAN that was put on the table on Friday. 20 million euros for an entire car company, that seemingly from the interest to this story, no one either wants or even cares about any longer. Therefore if Mr Six-Packs money fails to arrive tomorrow the wages will not be paid, SWAN will have breached the terms of their Re-Organisation and all the outstanding bankruptcy petitions will be reactivated. And that, to the huge relief of everyone except Muller and the poor SoBs in Trollhatten, will be that.
Bad journalism. Until the lights don't go out @ the Trollhättan plant don't be quick to assume. Until the ink doesn't dry, don't make a fool of yourselves
Oh good, someone who knows.... Who is the non-Chinese last minute bid who Muller is now in talks with? And why when the government say the wage loan was paid in three days ago, have the staff not been paid? & why has the pension fund not been paid into for a year, when it that same year Tug Holdings of Curuaco (CEO V.Muller) were paid $400000 but nobody knows what for? That's just the stuff thats come out this week.