Cars
The saga that is called Saab entered a new phase today as GM confirmed it has selected restructuring firm AlixPartners to supervise the liquidation of the Swedish automakers assets and at the same time, has requested approval of the selection by the appropriate authority in Sweden.
- Saab Denies Reports That It Is Seeking Court Protection - For Now
As the days go by without a viable solution to Saab's worsening financial problems, the closer the company gets to its breaking point. Today, Sweden's public radio (Sveriges Radio) ran a report citing unnamed sources that said Saab's parent...
- Breaking: Saab-ed By The Bell - Gm Agrees To Sell The Swedish Brand To Spyker Cars Nv
It's been a long road for SAAB, and even though we don't know what the future has in store for the quirky brand, for the time being, the Swedish automaker has been saved as General Motors and Spyker Cars NV today confirmed that they have reached...
- Gm Extends Deadline For Saab Bidders, 2010 9-5 Sedan Production To Restart
General Motors has dropped a December 31 deadline for Saab bids and will soon restart production of certain models to the pleasure of the Swedish brand's employees, dealers, interested buyers and of course, the automaker's fans. However, this...
- Gm To Entertain New Offers For Saab Until The End Of December
General Motors is still on the lookout for a new owner for its Saab unit, the company confirmed on Tuesday. The Detroit automaker said that the firm's Board of Directors have received "expressions of interest" from a suite of buyers for its Saab unit...
- Breaking: Saab Files For Bankruptcy, Aims To Be Independent
General Motors' loss-making Swedish subsidiary Saab filed for bankruptcy on Friday after it was cut loose by the American company as part of its deep restructuring plan. Under the Swedish law, the reorganization is a self-managed process headed by...
Cars
GM Appoints AlixPartners to Wind Down Saab, Says Still Evaluating Bids
The saga that is called Saab entered a new phase today as GM confirmed it has selected restructuring firm AlixPartners to supervise the liquidation of the Swedish automakers assets and at the same time, has requested approval of the selection by the appropriate authority in Sweden.
"The wind down process is expected to take several months, and will ensure that employees, dealers and suppliers are adequately protected. As stated previously, Saab customers can be assured that warranties will continue to be honored and that service and spare parts will continue to be available," GM said in a prepared statement.
General Motors added that the appointment of AlixPartners will not affect the evaluation of the bids it has received for Saab so far. But while GM's "evaluation process" will not be affected, we're pretty sure that any interested parties won't see the orderly wind down of Saab with a positive eye.
- Saab Denies Reports That It Is Seeking Court Protection - For Now
As the days go by without a viable solution to Saab's worsening financial problems, the closer the company gets to its breaking point. Today, Sweden's public radio (Sveriges Radio) ran a report citing unnamed sources that said Saab's parent...
- Breaking: Saab-ed By The Bell - Gm Agrees To Sell The Swedish Brand To Spyker Cars Nv
It's been a long road for SAAB, and even though we don't know what the future has in store for the quirky brand, for the time being, the Swedish automaker has been saved as General Motors and Spyker Cars NV today confirmed that they have reached...
- Gm Extends Deadline For Saab Bidders, 2010 9-5 Sedan Production To Restart
General Motors has dropped a December 31 deadline for Saab bids and will soon restart production of certain models to the pleasure of the Swedish brand's employees, dealers, interested buyers and of course, the automaker's fans. However, this...
- Gm To Entertain New Offers For Saab Until The End Of December
General Motors is still on the lookout for a new owner for its Saab unit, the company confirmed on Tuesday. The Detroit automaker said that the firm's Board of Directors have received "expressions of interest" from a suite of buyers for its Saab unit...
- Breaking: Saab Files For Bankruptcy, Aims To Be Independent
General Motors' loss-making Swedish subsidiary Saab filed for bankruptcy on Friday after it was cut loose by the American company as part of its deep restructuring plan. Under the Swedish law, the reorganization is a self-managed process headed by...