Word: saab
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...sure, automaking has become such a globalized business that the nationality of cars is increasingly blurred. GM owns 38% of Japan's Isuzu, 50% of South Korea's Daewoo Motors, 50% of Sweden's Saab-Scania and 5% of Japan's Suzuki, and shares some manufacturing operations with both Toyota and Suzuki. Those alliances give GM global reach, but the automaker was in danger of evolving into little more than a holding company if it did not relearn how to manufacture competitive cars in its own plants...
...Europe's 200-employee corporate staff in Zurich is known for moving with great speed, notably in its agreement last December to acquire 50% control of Swedish carmaker Saab for $600 million. GM whisked Saab from under the nose of Fiat, which until the last minute thought it would be the successful suitor. GM Europe was also quick to set up a joint manufacturing agreement with Hungarian producer RABA, the first West European company to sign such an accord...
There's nothing like teaming up with a $100 billion company to improve one's prospects. Or so Swedish automaker Saab-Scania AB hopes. Saab last week agreed to sell General Motors a 50% interest in its car-making operations, which had 1988 sales of $2.6 billion, for some $600 million, plus a promise that GM will invest another $100 million. Saab, which also makes trucks and aircraft, will spin the auto holdings into a subsidiary to carry out the deal...
...latecomer to the Saab wooing game, which began when Ford started courting the company earlier this year. After the collapse of those negotiations, auto-industry analysts expected Italy's Fiat to be the winning suitor. For Saab-Scania, which lost $123 million on its car-making operations in the first half of 1989, the advantage of the deal was access to GM's deep pockets. GM will gain badly needed production capacity at Saab's five plants in Europe, plus a stronger position in the U.S. and European luxury-car markets...
...course. There is enough room in its midget trunk for two tennis rackets and one can of balls. Is it a yupmobile? A delicate question, but the answer is not really. Yuppies lack a sense of nonsense. They buy BMW or Saab Turbo convertibles, ragtop versions of sedans that are irreproachably expensive and slightly stodgy. If you must pick up your elderly aunt, her Doberman and her scuba gear at the airport, you can manage it in one of these. In the Miata...