Saab still alive… for some reason

Saab and losing money go hand in hand like cheeseburgers and bacon. The first simply doesn’t work without the second.

I’ve never been a fan of Saab as a business. See, even if you like their “quirky” cars [1], the fact is that Saab loses money. In fact, Saab loses a ton of money, every single year. I’m not sure if they’ve ever turned a profit in their entire existence.

Back when GM dumped Saab, I couldn’t have been happier. For GM, of course. Saab was just bringing them down, and GM does a fine job of that all by themselves. Then Spyker bought Saab for some reason that I cannot fathom.

I’ll admit to losing track of Saab after that. In fact, I don’t even know who owns them today. But I do know that they just nabbed a loan of $157 million to keep the doors open. What I’d like to know is what sort of bank lends a completely insolvent company that kind of money? A bank who doesn’t like to have its loans repaid, I suppose.

  1. I don’t.  ↩

Published on September 2, 2011 in Saab

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