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Eeeh... Posted by B Millar [Email] (#1109) [Profile/Gallery] (more from B Millar) on Fri, 15 Jan 2010 09:04:27 In Reply to: Saab to be sold for $1.00 (US), Gargoyle, Fri, 15 Jan 2010 06:14:53 Members do not see ads below this line. - Help Keep This Site Online - Signup |
That $450 million GM wants is to know that the buyer can support Saab for the long term . GM doesn't necessarily get the $450 mill, they just want to see it deposited in a bank account. And I think that's just the beginning of the funding they want to see. They want to see that any buyer is capable of sustaining Saab for ten years. Apparently there's some law that even if GM sells the brand it cannot rid itself of all responsibility. If a successful bidder ends up failing in five years, GM is supposedly still on the hook to provide parts for the remaining five years to fulfill US 10-year regulations.
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