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Monday, June 27, 2011

The saga continues ...

In the recent days the news are stumbling on each other :
  • last week Saab has admitted not to have cash for paying salaries to employees
  • Kristina Geers leaves the board of directors but stays as a company counsel
  • both work labor bosses are leaving the board as well

It doesn't look good. But today a chinese company ordered 582 Saabs worth 13M€ which will provide short-term funding to Saab and enables to pay the wages. The payment is expected this week.

Who else than Pang' Da or Youngman, the two future business partners of Saab (if NDRC approves) could be on the purchase order ?

The crisis is not over. If the claim, that total monthly spending of Saab is 19M€, is correct, than this order is very short-term. Now, when the production is stopped, the spendings are definitely smaller. After that there are still chinese orders for 45M€ and another several thousand orders to be produced. The 45M€ is most probably waiting for production re-start. But that's it. Let's hope the magician Victor Muller shows another of his tricks in effort to save Saab.

This week will definitely bring further news, hopely good ! 

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