All Entries Tagged With: "GM"
After Spike, Spyker Shares Drift Back To Earth
By Gunnar Heinrich | IMG LensOnLeeuwenhoek.net
INVESTORS, it seems, were looking to make a quick buck euro.
As of Friday, Jan. 22nd, one share of Spyker Cars, NV (AMS: SPYKR) could be had publicly for 2.15. Fast forward to Monday’s close, and the stock was up again to 3.80 on much higher volume due to rumors that Spyker could clinch a deal with GM to buy Saab.
On Tuesday, share price rose again and then settled at 3.91 before the exchange halted trading in advance of the announcement that Spyker had, in fact, pulled off the deal.
When trading resumed on Wednesday, the price peaked at 6.80 a share before some investors rushed to sell; for some that meant locking in a gain of more than 200%. The sell off dropped the share price to 5.21 before rallying again to 5.75.
But as financial reports from Bloomberg and others have started trickling in on the enormity of the hurdles Spyker faces in revitalizing Saab, as of this article’s posting, Spyker’s price now stands at 4.05 per share on a day when the stock’s price started at 5.14 a share.
Historically, those who invested in Spyker’s initial public offering back in ‘04 are still seeing red: that offer was 14.83 per share. But there is a positive note: if the past any indicator, there could be stronger highs in the future.
Spyker’s stock peaked to an all-time high in April, 2006 @ 22.35 a share.
[Source: Google Finance]
Spyker Announcement Re: Saab. Live Video Link
By Gunnar Heinrich
GOT this one courtesy SaabsUnited.com
Spyker’s set to hold a press conference which should take place in the Netherlands directly.
Here’s the link: www.rtl.nl
Saabists remember: if the sale with GM falls through, Genii Capital is reported to be waiting in the wings with a new offer.
It looks as though our dear Saab will find a new home!
Saab Sale Announcement Likely Today, Spyker Shares Up
By Gunnar Heinrich | IMG Flickr via SaabsUnited
MUM’S the word, but expect an announcement from the General or Spyker later today on the sale of Saab Automobile AB.
With the Saab community a-twitter, and some likely breathing into paper bags – including Spyker’s own CEO – the intense anticipation is palpable as negotiations with GM climax.
At the moment, trends are delicately positive. Spyker’s shares rocketed yesterday on the whiff of good news that the Dutch exotic manufacturer would pull it off.
According to Google Finance, if you bought early yesterday morning (AMS: SPYKR) and sold before trading halted, you would’ve pretty much doubled your money within eight hours.
Griffin Up New York! Save Saab Rally to Times Square
By Gunnar Heinrich
RECOGNIZING that the automotive world’s a better place with Saab in it, the following are the details for the upcoming Save Saab rally in New York that’s set to take place this Sunday, January 24th. At present, NOAA’s forecasting rain. But when did that ever stop committed Saabists?
Per SaabsUnited.com
The Save Saab New York Rally
Meet @ 10am: Exit 5S off the Palisades Parkway (near US Army Reserve, Orangeburg)
Depart for Times Square @ 11am. Arrive by noon.
The New York event will coincide with same-day rallies in Paris, Washington, Chicago, St Louis, and Denver. Visit SaabsUnited’s “Save Saab” page for further details on those events.
Griffin up!
Decisions, Decisions: Corvette Coupe v. ZR1
By Gunnar Heinrich | IMG GM
THERE is much to recommend GM’s plastic fantastic.
Besides the brash styling that broadcasts American brawn, on paper, Corvette remains a bargain:
For $48,930 you have the low entry-point to start the Chevrolet LS3 V8; a righteous 6.2 liter, 430 horsepower engine that makes 424 lb-ft of torque happen @ 4600 rpm.
Couple that with a moderate curb weight of 3,208 lbs and the standard coupe’s good for the claimed 190 mph top speed.
Better still, it’ll average 26 mpg which is thriftier on regular than my Saab convertible.
But here’s the question – Would you pay better than twice the price to buy the Corvette ZR1?
For $106,880 you get the Chevrolet LS9 V8; 638 horsepower that summons 604 lb-ft of torque.
Massively powerful, GM’s slotting this beast against the likes of Ferrari (599) and Lamborghini (Gallardo).
To add that it’s still cheaper than its competition means less than the virtues of the ZR1’s aluminum frame along with “visible carbon fiber components” that grant a power to weight ratio advantage over the Italians.
Oh, and top speed is 205 mph.
Does this make the ZR1 twice the Vette?
Having driven (only briefly) the standard coupe, it’s easy to say a staunch “Hell, No!” And they both look pretty much the same, aside from the ZR1’s quad pipes and tacky see-thru engine window on the hood.
Nevertheless, track considerations are another matter.
True, it’s unlikely that many buyers cross shop Ferraris with Vettes.
Prancing Horse buyers factor an image/performance decision ratio of somewhere around 60/40. For Lamborghini, we could argue 65/35. The ZR1 appeals to those who seek raw performance in a car destined for racing.
The difference is, however, that unlike, say, a Viper which exacts its might with all the finesse of a jackhammer, the Vette remains a sharp implement.
Handling, braking, and the effects of accelerative force are all considered in what amounts to GM’s best engineering efforts this side of the CTS-V.
Short of driving both cars, we can safely surmise that the standard Vette minus all the fixin’s (Carbon fiber brakes, HUD, etc.) represents the superior value. The ZR1 is less bang for your buck and more of an all-in American style.
I Dream of Saab
By Gunnar Heinrich| IMG Saab Automobile AB
SAD to know that what we’ve come to love cannot be forever.
To the Saabists out there – we few but passionate Svenska automobilists – my heart goes out to you on the eve of this terrible news.
Saab Automobile AB will now close after several botched attempts to find suitors.
Truthfully, Saab hasn’t been Saab for some years now. Since 2003, the 9-3 sedan (the bread ‘n butter of Saab’s smart portfolio) was sold as a rebadged Opel (generic as any midsize rental Euro car can get) streamlined in a mistaken quest to compete for BMW 3-Series and Audi A4 sales.
The 9-3 and the effort to drive Saab mainstream was but one of many tragic missteps by GM’s global brand of gross incompetance.
General Motors never understood Saab. Never wanted to, either.
Time and again Saab slipped the world clues as to the true capacity of their creativity despite the fiscal shackles that restrained it. The 9-1X a super techy and oh, so svelte hatchback that if priced in the $20K’s would’ve flattened BMW’s MINI. Even the new 9-5 seemed brimming with promise.
No one ever thought the Turbo X a credible alternative to an Audi S4 or a BMW M3. Nor could we reasonably contemplate purchasing a 9-3 SportCombi in place of a Volvo V70. The customers were very different, even if the price ranges were similar.
And therein lies the crux: Saab drifted away from what Saab did best – selling smart, sleek, turbocharged hatches. MINI has proven that there’s a market for quirky, upscale hatchbacks (even in America) and can now claim the market for its own.
Automotive enthusiasts everywhere have reason to morn tonight. For Saab, a company whose premise was building cars that are more than just appliances for getting us from points A to B, has died. And with it, a piece of the automotive soul.
Happy Saabing, Jan-Willem Vester
- Former Saab rep. Jan-Willem Vester has died
- Mr. Vester was a true gentleman and tremendous representation for GM
- Owned Saab 900 Convertible and Porsche 911
By Gunnar Heinrich | IMG Kevin Kusina for ADLX
JAN-WILLEM, or “Jay-Dubya” as his one time boss at SaabUSA called him, was a true car guy and an even truer gentleman.
Before joining GM’s press relations team for Saab, the gentle Dutchman wrote for European car mags and in his own garage: a mint, 80’s fresh 900 Convertible and a 993 gen. 911 Porsche.
What made Mr. Vester so effective was his character: devoid of any attitude, soft spoken, and clever in finding common ground.
For instance: recognizing that eventhough I owned a Saab convertible myself, my strongest interest centered on Mercedes-Benz, he regaled me one evening with a review he once conducted on the W140 gen. 600SEL.
With few exceptions, he was one of the finest car company representatives I’ve met. According to SaabsUnited, the auto industry is emptier today with news of his death.
One of Jan-Willem’s common sign-offs was “Happy Saabing”.
Happy Saabing, Jan-Willem.