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Saab bonuses upheld despite crisis

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Saab bonuses upheld despite crisis
09:14 CEST+02:00
Despite the ongoing crisis surrounding Saab no action will be taken over payouts and bonuses paid to shareholders, following a government audit.

Dagens Industri reports that the stricken carmaker paid out some 40 million kronor last year to its mother company Spyker as the the company struggled to stay afloat. However the payments, including chairman Victor Muller's four million kronor salary were not deemed excessive, the audit concluded.

Meanwhile as the fight for survival goes on, the companies involved in the purchase of Saab's factories may have the chance to take over the carmaker's property company for nothing in the case of an eventual bankruptcy, the same paper reveals.

Several companies, including Hemfosa and Paulssonsfären bought shares in Saab's property portfolio in July, which was seen as a potential lifesaving source of income for the carmaker.

The consortium paid some 230 million kronor for about 50% of the shares. What happens to the shares in the event of Saab's bankruptcy remains unclear, but one possibility is that the consortium would be able to pick up all the shares for what would amount to a fraction of the current value.

Meanwhile, on a lighter note, bloggers on a site dedicated to Saab enthusiasts and owners have organised a huge party and convoy on October 1st to celebrate the car and the company. Bloggers on saabsunited.com report that interest has been huge in the event which is set to take place in Trollhättan.

”There are organized convoys from large parts of Europe” blogger Tim Rokka told Radio station P4, with visitors expected from as far away as the U.S and Canada.

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