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SAAB may survive far longer than GM expects.... Posted by MI-Roger [Email] (#882) [Profile/Gallery] (more from MI-Roger) on Sat, 19 Dec 2009 13:30:14 In Reply to: Let's find a creative way to bring Saab, Dean, Sat, 19 Dec 2009 09:47:31 Members do not see ads below this line. - Help Keep This Site Online - Signup |
I don't remember how many Oldsmobile Dealers existed when GM decided to kill off Olds, but that decision is widely considered to have cost GM well in excess of $1 Billion dollars in legal settlements. These Dealers were incorporated in only two countries (assumption here) the US and Canada.
It was reported yesterday that SAAB has 1,100 Dealers world wide. In addition, GM has been bragging they are flush with cash and can pay off the US gov't loans in six months time. How many Dealers will settle for Chump Change knowing GM is loaded with cash? How many years of litigation will be required to settle claims across the globe?
The legal staffs of Koenigsegg Group and Spyker Automobiles should be deep into research for possible claims against GM based on bad faith negotiating by GM. If GM had no intent of selling SAAB, then GM is liable for all costs incurred by Koenigsegg and Spyker associated with their proposals - as well as all costs associated with the claims for damages!
GM's memory is too short to realize the rapid shut-down of Pontiac & Saturn ocurrred while GM was in the midst of a scam bankruptcy filing. The techniques and tools used to wind down these brands without penalty costs no longer apply.
In addition, GM now has one major shareholder. One who may not like the automaker incuring greater costs by winding SAAB down than they would incur by conducting a proper sale, even if the sale is delayed until the global market strengthens.
posted by 98.209.212...
_______________________________________ 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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