True story: I remember a time when I was a young kid growing up in Melbourne. I was playing in our front yard. It was a summer’s day and the ground was dry, but the clouds were menacing. I heard a noise growing louder in the distance and as I stood up, I could see hard rain falling on Mrs Groves’ house, on the other side of the street. The rain moved slowly across the road towards our place and soon I was running towards the house, but I was soaked before I got to the door.
Sometimes you can see stuff coming but try as you might, you still can’t avoid it.
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There have been a few interesting articles in the last few days that make a few interesting statements when it comes to Saab’s situation – if you’ve got the eyes to see and the memory to put them in context. They speak not only to Saab’s current sale status but also to the way some things happened as Saab struggled for life in 2011.
I should write to Saab’s bankruptcy administrators and ask for a commission. Every time I write that the sale to NEVS is imminent, Youngman submit what one has to presume is an improved offer. It’s not helping, though, because the process just drags on even longer and the only people acting as if Youngman are still a realistic prospect in this process are Youngman themselves.
Everyone else is acting and preparing for the fact that they won’t be buying Saab. Saab Parts AB provides one example.
The head of Sweden’s National Debt Office, Bo Lundgren, was happy to talk on the record last week about what they’ll have to do as Saab Parts AB’s long term owners if that’s how things turn out. They’re even looking at expanding into selling parts for other brands so as to prolong the life of the business. The presumption underpinning all this is twofold: 1) That Saab Parts AB will not be sold (as NEVS don’t want it), and 2) there won’t be any new Saabs like the old ones and therefore, Saab Parts AB’s major pool of customers will dry up within the decade.
Of course, it’s prudent to plan for both scenarios – Saab Parts AB being sold or being left unsold – but every article I read about this last week pointed to the unsold scenario.
Another article shown to me today comes from Bloomberg and is written by Ola Kinnander (who, personally speaking, is my most trusted journo in Sweden). The article is concerned with discussions over the use of the Saab name by a prospective new owner.
I can’t find an online link, but here’s part of what I received via email today:
Continue reading Too many Saab stories for just one headline.
