Saab’s white collar employees were getting blue in their faces from waiting for last month’s paycheck. Saab had to sell off slices of the company to pay workers who sit at home twiddling their thumbs. According to the always well informed Saabsunited (when it comes to good news), salaries were transferred today at 5pm. On to the next payday.
Meanwhile, things don’t look so good in China. In June, Saab signed a non-binding memorandum of understanding (MOU) with Chinese distributor Pangda Automobile and car manufacturer Zhejiang Youngman Lotus. This had been feted as the second coming of Christ over in Flagwavingland. Put your ear on the ground. Hear that sound? It’s the Chinese, dragging their feet. (Read More…)