Saab Files for Bankrutpcy Protection

Discussion in 'OT Driven' started by TriShield, Feb 20, 2009.

  1. TriShield

    TriShield Super Moderator® Super Moderator

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    Saab Automobile on the way towards independence

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    – ”today is the beginning of a new chapter in Saab’s history”

    After 20 years of foreign ownership, the future of Saab Automobile is once again in Swedish hands. On Friday, the Vänersborg District Court approved the request for a reorganization and restructuring which Saab’s representative submitted earlier in the morning.

    “Today is the beginning of a new chapter in Saab’s history”, says Jan Åke Jonsson, Managing Director of Saab Automobile. “We are now recreating Saab Automobile as an independent unit. The road ahead will not be easy. Many have already suffered considerably as a result of the crisis in the automobile industry and sacrifices will be a part of our future, but after a period of tough decisions we will have laid the foundations for a new beginning.

    “Saab has a trademark which is well established both in Sweden and internationally. We have a documented efficient production and we have a strong range of models in development. That is why we have chosen this road. The future will be tough, but the commitment which exists to support the Swedish automobile industry and Saab will help us in the arduous tasks which lie ahead of us.”

    The work of piloting the new Saab Automobile into the future will be led by a group of three persons: the lawyer Guy Lofalk, whom the District Court has appointed as Administrator, the Managing Director Jan Åke Jonsson, and the international reorganization expert, Stephen Taylor.

    The purpose of the company reorganization is to create a short-term stability that will make it possible to develop a long-term solution for Saab. The Swedish Company Reorganization Act says that an application shall not be approved unless there is reasonable cause to assume that the purpose of the reorganization will be achieved. In today’s decision, the District Court has found that such conditions exist.

    “I can already say that I am impressed by the competence within Saab”, says Guy Lofalk, “and with three strong automobile models just around the corner it would be a waste not to try to find a long-term way forward.”

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  2. TriShield

    TriShield Super Moderator® Super Moderator

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    In for Ford doing the same thing to Volvo.
     
  3. kiri

    kiri New Member

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    yep, chapter 11
     
  4. loading

    loading OT Supporter

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    saabs suck
     
  5. Burmonster

    Burmonster OT Supporter

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    In for cheap SAABs
     
  6. Mugatu

    Mugatu Ask me about market research. OT Supporter

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    I used to love Saabs until they started making these gay crossovers and SUVs :down:
     
  7. Variant

    Variant Cast in the name of God, ye not guilty.

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    wow...way to spin it, as if they couldn't wait to declare chap. 11. I notice he failed to mention that Saab asked for a bailout and was denied. :rofl:
     
  8. Grimey

    Grimey New Member

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    If a tree falls in the forest and no one is around, does anyone hear it?
     
  9. BobbyT

    BobbyT I love farting. OT Supporter

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    Thats because they are now owned by Saturn (GM)
     
  10. thekinggovernor

    thekinggovernor OT Supporter

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    In for the US doing the same for all automakers
     
  11. Hathegkla

    Hathegkla New Member

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    that sucks. my dad had a bad ass Saab in the 80's. but I think it was cooler to have one back then than it is now though.
     
  12. Rev Happy

    Rev Happy Active Member

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    Good, set an axample of for how a free market system should work.
     
  13. TriShield

    TriShield Super Moderator® Super Moderator

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    Best female member evar.
     
  14. Buzz Killington

    Buzz Killington nunc fortunatus sum

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    Thanks for posting this Saab story.
     
  15. One Ton Soup

    One Ton Soup New Member

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    the flying vagina :bowrofl:
     
  16. cedric

    cedric I don't have a contract

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    that's what they get for making shitty FWD cars and trying to sell them for the same prices as Lexus :o
     
  17. Hartman

    Hartman New Member

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    You will be missed....not.

    These brands should have been gone 10 years ago.
     
  18. Formz

    Formz Hipster Santa OT Supporter

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    I see what you did there.
     
  19. tkhov

    tkhov Perhaps the Pinnacle of Physical Perfection

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    :mamoru::mamoru:
     
  20. Cicada

    Cicada OT Supporter

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  21. rgeier11

    rgeier11 OT Supporter

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  22. matale

    matale OT Supporter

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    Sweden :bowdown:
     
  23. Kenji Wing

    Kenji Wing UK Basketball > *.*

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  24. Wobistdu

    Wobistdu Guest

    SAAB? more like FUUU amirite?
     
  25. xjncoguyx

    xjncoguyx New Member

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    It would never happen, the name is way too valuable
     

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