Saab files for bankruptcy protection

[cozmik]

Though I think they indicated that they may help an independent Saab, so it's still a question whether they're refusing the money because they're smarter than we are, or because they don't want to subsidize an arm of an American company.

Well, at the very least, at least they're smart enough to know GM would end up sucking up the funds meant for the Saab division.

[Speed_Racer]

Well, at the very least, at least they're smart enough to know GM would end up sucking up the funds meant for the Saab division.

I love how the Swedes were able to see that from over 4000 miles away, yet our own government...

[TurboDan]

Yet.

How long as it been since Saab has made money? I am not convinced that bankruptcy would change that in Saab's case.

Audi was a white elephant for years.  Nobody wanted to touch 'em.  Now, after a modern makeover and a crafty few years' worth of marketing, they're up there with BMW.  Hyundai used to be made fun of in rap songs.  Now they're taking on Lexus.

Turnarounds can be done.

[omicron]

Audi was a white elephant for years.  Nobody wanted to touch 'em.  Now, after a modern makeover and a crafty few years' worth of marketing, they're up there with BMW.  Hyundai used to be made fun of in rap songs.  Now they're taking on Lexus.

Turnarounds can be done.

Holden was all-but bankrupt in the mid '80s. With the benefit of hindsight, it was probably the best thing that could have happened to them. 

[Galaxy]

Looks like it's over. The Swedish authorities have reportedly seized the Trollh?tten factory because Saab did not pay customs duties. 

[cozmik]

Looks like it's over. The Swedish authorities have reportedly seized the Trollhaten factory because Saab did not pay customs duties. 

Saab reps are saying it should be resolved by tomorrow morning.

[Soup DeVille]

  Hyundai used to be made fun of in rap songs.  Now they're taking on Lexus.

Beck is not rap!

[TBR]

Audi was a white elephant for years.  Nobody wanted to touch 'em.  Now, after a modern makeover and a crafty few years' worth of marketing, they're up there with BMW.  Hyundai used to be made fun of in rap songs.  Now they're taking on Lexus.

Turnarounds can be done.

But you have to consider the condition of the economy and of the new car market.

[Nethead]

From  The Left Lane News  comes this report of the likely end of the road for Saab:

Beginning of the end?: Saab halts all production

Things have gone from bad to worse for General Motors? Saab brand, with the Swedish automaker being forced to halt all production on Wednesday. Saab reportedly owes the Swedish Customs Agency a ?considerable? sum of money for back duties, with the agency blocking all Saab transportation until the full amount is paid.

The news of the production halt follows closely on the heels of Saab?s bankruptcy filing. No monetary figure was given with the report, but it is likely far more than Saab has in cash reserves.

?The Customs Agency is holding onto our goods,? Saab production manager Gunnar Brunius confirmed with The Local. ?I have received no indications about us being unable to pay.?

The Customs Agency is blocking all Saab shipment originating from outside the European Union. In order to resume production, Saab must either come up with the money itself or receive financing from another source. ?Saab is not getting a penny of credit from us,? a Customs agent added.

[cozmik]

That was posted yesterday dude.

[Nethead]

That was posted yesterday dude.

cozmik:  Yesterday Swedish Customs weren't blocking all of Saab's shipments from outside the EU.  Now they are. 

I hope no one here has paid a deposit on a new Saab that hasn't been delivered yet...