Buddhism preaches that karma passes from one life to another in reincarnation and that the outcome is based on what deeds are done in previous lives.
Now, Saab must have a really bad karma. There’s really no other explanation for the constant problem that arise, preventing the ailing Swedish carmaker from finding peace in securing its existence.
This time it’s not the Chinese government, the creditors, the suppliers, the workers’ unions, the Swedish debt office or the court-appointed administrator. All of the aforementioned parties have given their approval. Instead, in a surprising move, it's the company's former owner and current preference shareholder, General Motors, that’s may try to block the sale to Pang Da and Youngman.
"GM would not be able to support a change in the ownership of Saab which could negatively impact GM's existing relationships in China or otherwise adversely affect GM's interests worldwide," GM spokesman Jim Cain said in a statement today.
The two Chinese companies plan to invest a significant amount of cash into the company and even begin production in China, doubling Saab’s production from as early as 2013.
Reality check: if the new owners’ plans come into fruition, it is obvious that GM’s luxury brands will have a new, revitalized competitor not just in China, but in most world car markets. Therefore, the General may veto the deal.
GM has already tried to kill Saab once in 2010, before Spyker and Victor Muller came to the brand's rescue. As the saying goes, if at first you don’t succeed, then try again…
Story References: Autonews [Sub. Req.]
