The deal that allowed Muller to acquire Saab from GM included GM holding a very large chunk of debt in the form of bonds. I seem to remember over $200 million, but I am not going to out and get the data. You may find references in the archives here from people who followed the business as well as their passion for the cars.

GM will not be paid much on the bonds, but then they were ready to liquidate Saab in the first place before Victor made his attempt. What a saleman, eh? In the midst of the greatest financial meltdown since the Great Depression, he attempts to take a boutique car company, with a pricy set of products, without very much capitalization at all.

The truth is that the only way Saab could have been saved in this scenario, without substantial capital to weather the financial storm for several years, is if customers came in, in droves, to buy new Saabs. They, and many of us, did not.

The idea that GM is liable has no basis in published fact. They were under no obligation to have their engines, car bodies, manufacturing processes, and other technology delivered to a foreign car maker for a song.

There just were no investors prepared to invest in Saab as an independent entity, and that is more than a Chinese manufacturer, it is also the marketplace of customers. They customers have lost out on a vehicle we value, but most wanted something else, whether we agree with them or not.

I am saddened, much as I felt the joy and hope when Victor gave his speeches outside the Saab factory when he saved Saab from the GM liquidation proceeding.

For those of us with Saabs, lets hope that GM keeps the parts, and dealers with trained techs, going long enough for us to enjoy our vehicles, and warranties for cars made before the separation, for a very long time.

Dave Ralph

posted by 69.205.13...

• TTELA reports Muller has declared SAAB bankrupt, ryan , Mon, 19 Dec 2011 00:57:46
  • Will the factory survive?, dmz789qqq, Mon, 19 Dec 2011 10:11:54
  • any GM shareholders here?, Siegfried, Mon, 19 Dec 2011 04:58:22
  • gm just made itself liable, mark from toronto, Mon, 19 Dec 2011 04:53:26
    • GM is a huge creditor of Saab, DER, Mon, 19 Dec 2011 05:59:57 <-- Viewing This Message
      • The GM credit was only a goodwill gesture., Mark from Toronto, Mon, 19 Dec 2011 06:39:13
    • Re: gm just made itself liable, Keith , Mon, 19 Dec 2011 05:17:33
      • Not buying it, JerseySaab , Mon, 19 Dec 2011 05:28:11
  • Muller has declared SAAB bankrupt, Raction95Aero, Mon, 19 Dec 2011 03:25:36
  • Unfortunate, but expected, JerseySaab , Mon, 19 Dec 2011 03:23:56
    • Re: Unfortunate, but expected, EGD , Mon, 19 Dec 2011 03:43:26
      • Re: Unfortunate, but expected, Erik919kt, Mon, 19 Dec 2011 06:11:30
        • Re: Unfortunate, but expected, slyde, Mon, 19 Dec 2011 09:27:14
          • Re: Unfortunate, but expected, kkelley, Mon, 19 Dec 2011 14:28:39
            • 2006 93 sc aero .....zero issues, JohnA , Mon, 19 Dec 2011 15:57:30
              • Re: 2006 93 sc aero .....zero issues, kkelley, Mon, 19 Dec 2011 16:59:59
      • GM and Saab, JerseySaab , Mon, 19 Dec 2011 04:13:22
        • I don't get it. Why let all of this go to waste?, bender , Mon, 19 Dec 2011 08:58:45
          • Re: I don't get it. Why let all of this go to waste?, kkelley, Mon, 19 Dec 2011 11:31:14
            • +1, dmz789qqq, Mon, 19 Dec 2011 12:20:50
              • Re: +1, Red93SEInBklyn, Mon, 19 Dec 2011 13:50:28
                • Re: +1, davidgmills, Tue, 20 Dec 2011 11:22:13
                  • Re: +1, Red93SEInBklyn, Fri, 23 Dec 2011 13:42:06
                • Re: +1, 11madness, Mon, 19 Dec 2011 14:10:45
              • So, if every Saab fan donated...., bender , Mon, 19 Dec 2011 12:28:37
                • Not even close to enough, Bender., Noel, Mon, 19 Dec 2011 12:55:47
                  • And it would be easier after the debts are written off, Reality, Tue, 20 Dec 2011 06:37:35
          • Because GM is not a profit seeking entity, Reality, Mon, 19 Dec 2011 10:43:41
          • Re: I don't get it. Why let all of this go to waste?, JohnA , Mon, 19 Dec 2011 09:10:18
            • I hope others feel the same. I hope the SAAB musem, bender , Mon, 19 Dec 2011 09:23:20
      • Re: Unfortunate, but expected, JerseySaab , Mon, 19 Dec 2011 04:04:42
        • Re: Unfortunate, but expected, TML , Mon, 19 Dec 2011 04:39:11
          • Is it possible that Koenigsegg has a clean slate?..., Bill H, Mon, 19 Dec 2011 06:14:36
            • GM's image in China......, Mark from Toronto, Mon, 19 Dec 2011 06:41:14
              • Re: GM's image in China......, rickz, Mon, 19 Dec 2011 08:13:30
                • Re: GM's image in China......, William, Mon, 19 Dec 2011 12:18:53
              • It apparently is anti-Chinese, JerseySaab , Mon, 19 Dec 2011 06:48:44
                • It depends on the Chinese press...and govt..., Mark from Toronto, Mon, 19 Dec 2011 07:14:58
                  • Re: It depends on the Chinese press...and govt..., TML , Mon, 19 Dec 2011 09:23:59

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