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Saab to make a profit in 2012: SpykerTuesday 02 February 2010 Loss-making Swedish car maker Saab should return to profit in 2012, new owner Spyker said on Monday. The new business plan requires approximately $1bn in funding for Saab 'in advance of the return to profitability, forecast to occur by 2012,' Spyker said in a statement, which gives more details of the takeover deal. From now on Saab will be 'a stand-alone niche manufacturer with three to four model lines... for both the US and European markets. In addition, Saab will investigate the potential of adding a fourth smaller car line,' Spyker said. The Dutch luxury car maker last week agreed to pay GM $74m in cash and $326m in preference shares to buy Saab from General Motors. © DutchNews.nl
"requires approximately $1bn in funding for Saab" and who is providing that? Profit in 2012? Wonder what they are smoking By bobsocks | February 2, 2010 10:34 AM bobsocks: The Swedish government is kicking in a healthy amount and GM is offering some subsidies and loans as well as their upgraded Saab manufacturing plants in the US. By Buzzer | February 2, 2010 3:34 PM The old joke goes: "How can you tell when (insert person's name here) is lying?" "I dunno, how?" "His lips are moving.." Anyone with moving lips and cio, cto or any other corporate this or that speaking these days about profitability in two years? Well... His lips are moving... By Patrick | February 2, 2010 6:34 PM Anybody care to predict when Saab will announce its second bankruptcy? By Garry | February 3, 2010 8:26 AM Saab has not made any profit in the last 15 years so I can't see a small Dutch company changing that, and as for four "product lines" dream on. By Camilla Paris | February 3, 2010 10:44 AM
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Although some parts of the text is complete BS and does not say about what kind of profitability they talk (which is SpykerSAAB problem anyway), the idea about DNA of the brand and optimism in its potential, that is what SAAB needs most.
By Jon | February 2, 2010 10:19 AM