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Registered
Join Date: Jan 2002
Location: Nor California & Pac NW
Posts: 24,863
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Just some stuff I read today -
Spyker buys Saab for $75MM
Sweden loans Saab EUR 400MM
Spkyer's owner loans Saab $105MM to repay Saab's existing bank loans
Spkyer gets a EUR 150MM backup credit facility from a hedge fund.
GM will continue building the 9-4X and providing components, engines, etc. Not sure for how long.
Saab lost EUR 300MM on EUR 1.6BN revenue in 2008, selling 95K cars (produced 89K). In 2009 it lost EUR 400MM on EUR 1BN revenue, selling 39K cars (produced only 21K, so inventory must be dry).
Spyker lost EUR 24MM on EUR 8MM revenue in 2008. In 1H09 it lost EUR 9MM on EUR 4MM revenue. They sell about 20 cars a year.
Don't know if above losses are cash losses. Probably actual cash losses are a good bit smaller.
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1989 3.2 Carrera coupe; 1988 Westy Vanagon, Zetec; 1986 E28 M30; 1994 W124; 2004 S211
What? Uh . . . “he” and “him”?
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