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Posted by Richard Scott (more from Richard Scott) on Fri, 15 Jan 2010 11:32:43 Share Post by Email
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From Autoblog.com, January 14:

"In what critics are suggesting as a less-than-good-faith move, GM may also schedule transportation of the 2010 Saab 9-5's tooling to China as early as tomorrow, January 15, where the model would likely be built wearing Buick badges. The General appointed Steven Taylor and Peter Torngren to oversee the liquidation of Saab on Monday, and as part of that move, they replaced both Saab's CEO and board effective immediately."

"Despite all of this, GM's new president of North America, Mark Reuss, has been quoted suggesting that the protracted bidding struggle may continue until early February, all while GM continues to the process of shuttering the brand."

"Yesterday, Genii Capital and Bernie Ecclestone submitted a freshly revised bit for Saab, and Spyker Cars reportedly also did so, with CEO Victor Muller going so far as to say that, "We have shown Mr. Whitacre the money." For its part, Merbanco has also apparently been asked to tweak its bid by General Motors, and it has done so as well."

FWIW, Forbes' magazine automotive columnist Jerry Flint says GM has a poor track record on closing deals.

My comment: They seem to be better at closing factories than selling brands.

posted by 72.19.48...

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