So Saab was NOT losing money after all!! - Saab General Bulletin Board - Saabnet.com
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So Saab was NOT losing money after all!!
Posted by Pete Saab 9-7 9-3 (more from Pete Saab 9-7 9-3) on Wed, 18 Nov 2009 07:25:56
In Reply to: Saab dealership strategy -- I wonder, SENewhouse, Tue, 17 Nov 2009 08:47:49
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Latest report, says that the Gm reported $5100 loss per Saab is all bogus -- it was funny money to shift tax and revenue around.. the good news is, this means the EU loan needed for the sale to K-Saab is highly likely...
"Consulting firm KPMG has been commisioned by the Swedish Government to go through Saab’s finances, and examine the cash-flow and sales. The consolidated report, from which the government has produced an 80-page document to the EU, concludes that Saab was not in any financial trouble during summer of 2008" AND
"GM has never been interested in reporting taxabale gains in Sweden. Revenues from US sales were never declared in Sweden, but rather went straight to GM. A number of components (including engines) had much higher internal prices than Saab’s own in-house-produced components to benefit other areas with lower tax laws. Saab’s financing company has not been included in Saabs accounts, and the list goes on. Clearly, argues the Swedish government, Saab was as healthy as it could be considering it was rigged by GM to show no profit in Sweden."
posted by 67.82.57...
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