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Don't confuse Bankruptcy with Liquidation Posted by MI-Roger [Email] (#882) [Profile/Gallery] (more from MI-Roger) on Wed, 18 Feb 2009 08:04:06 In Reply to: Saab Chapter 11, raymond, Tue, 17 Feb 2009 21:35:47 Members do not see ads below this line. - Help Keep This Site Online - Signup |
Per the news conference televised on every Detroit area station last night, IF Saab enters bankruptcy procedings it will be in Sweden and not the US. Our view of Chapter 11 will not apply.
Bankruptcy is used to reorganize a weak/nearly failing business to restore it to profitablility by allowing an opportunity to re-write money losing contracts and other financial obligations. A huge irony is that Saab will be introducing 3 new vehicles this calendar year; the 9-3X, the 9-4X, and the new 9-5. It would be counter productive for the Bankruptcy courts to block these near term product offerings.
Saab may well emerge from any bankruptcy as a much stronger company. Well, at least I can hope.
posted by 198.208.25...
_______________________________________ Saabs owned: 2008 9-5 Aero Sedan, sold at 227K miles 2006 9-3SC 2.0T - Wife's daily driver 2000 Viggen Convertible - Sold May, 2022 1964 Quantum IV Formula Car - Retirement project 2000 9-5lpt Sedan, sold at 318K miles
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