2006 Saab 9-3 2.0t Convertible 2-door 2.0l on 2040-cars

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GM denies Spyker claims in $3B Saab lawsuit

Reuters reports General Motors has dismissed claims by Spyker outlined in a $3 billion lawsuit. Spyker alleged GM deliberately bankrupted Saab by preventing a deal with Chinese investor Zhejiang Youngman Lotus. GM, meanwhile, filed a response with the U.S. District Court for the Eastern District of Michigan saying that as the former owner of Saab, GM had the legal right to approve the deal with Youngman. But Spyker's lawsuit claimed GM's refusal to approve the deal with Youngman stemmed from the fact that the American automaker didn't want to create a competitor in China.
GM has said the issue stemmed more from the fact that it would stop licensing its technology to Saab or stop building vehicles for the manufacturer in the event it was bought by Youngman. Since Saab built its own platform that didn't use any GM tech, Spyker says that argument is meritless.
The lawsuit has Spyker seeking $3 billion in compensatory damages, though that number could swell with interest, punitive damages and legal fees, as well. Victor Muller, Spyker chief executive, has said the lawsuit is being funded by an anonymous third party. That party will share in any settlement. Youngman has refused to comment on whether or not it's footing the legal bill.

Chunk of ice smashes man's windshield

Driving a car piled with snow isn't just lazy, it's dangerous. A driver on Interstate 495 South in Massachusetts learned that the hard way last week after a huge chunk of ice flew off the top of an SUV and onto his windshield. Jeffrey Cote's dashboard camera was running as he drove his Saab 9-5 Aero Wagon down the freeway in Haverhill, MA, Wednesday morning. He was following an SUV in the left hand lane. The SUV doesn't appear to have too much accumulation on it, but the owners clearly didn't remove the snow and ice from the very top of the vehicle. A large chunk of ice flew off the top of the SUV, spun through the air and shattered Cotes windshield. Cote's must be one of the cooler heads on Massachusetts' roads. He didn't swerve, or swear or even gasp. Despite being unable to see the road and covered in glass Cotes safely moved over to the right lanes and safely pulled off on to the shoulder after the accident. The ice not only totally destroyed Cote's windshield but damaged a wiper arm and his side mirror as well. "If I had braked harder, I could have avoided impact," Cotes wrote in the video description. "But it initially appeared the piece was going to fall in front of me." Cotes couldn't read the driver's license plate on the footage and told CBS Boston that he doesn't think the other driver even realizes what occurred. He told the news station he hopes the video reminds people to do the right thing and clear the snow off their cars. "Just a few seconds, just try to slam as much ice as possible off your roof," Cotes told CBS Boston. "Because, it could have gone a lot worse, and it could save someone's life if you do a better job cleaning," Cote said. News Source: CBS Boston Saab Driving Safety Videos snow winter driving cold

Saab US bankruptcy plan gets legal green-light

It feels utterly bizarre that we're still talking about Saab, but Reuters is reporting that the bankrupt Swedish manufacturer's American arm has gotten approval from the US Bankruptcy Court to liquidate its assets and pay back creditors. As part of the plan, secured creditors like Ally Financial will receive full repayment. Unsecured creditors, consisting of those affected by abandoned leases and contracts will get anywhere from 25 to 82 percent of their money back.
There are currently $77 million in unsecured claims, according to Reuters, but that number doesn't include claims from former Saab dealers. Naturally, the entire affair is full of lawyers and legalese. A trust formed on the Saab side will be negotiating with creditors and their affiliates in an attempt to reduce claims against Saab. This sounds like the start of a long and sordid affair...