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Saab tries [again] to emerge from bankruptcy

If we've learned one thing from watching The Walking Dead, it's that the only way to terminate a walker is with a swift and brutal blow to the brain. Sadly, no one has come along that's willing to do the gruesome deed to the stumbling shell that is Saab. The company's latest owner, National Electric Vehicle Sweden is trying, yet again, to crawl its way out of bankruptcy with a "composition proposal in order to exit the reorganization." That proposal, outlined in the attached press release, will see the majority of the company's many creditors receive full repayments. For 104 of the 573 creditors, all of whom have claims over 500,000 Swedish Krona (roughly $60,000), their claims will be reduced by 50 percent. If creditors approve the proposal, it'd provide "the conditions for completion of ongoing negotiations with two major OEMs," which the press release claims could come on as either a joint-venture partner in Trollhattan or a majority owner in the struggling company. We won't be holding our breath. Scroll down for the full press release from NEVS. Thursday, February 19, 2015 A composition to get Nevs out of reorganisation National Electric Vehicle Sweden AB, Nevs, provides unsecured creditors a composition proposal in order to exit the reorganisation. It creates the conditions for completion of ongoing negotiations with two major OEMs and the implementation of a new business plan together with partners and owners. Nevs' owners and management has noted the difficulty of completing this type of complex negotiations during a reorganisation and the risk premium it implies. The current negotiations, together with two major OEMs, are mainly focused on two tracks that are complementing each other. One is to form a technical joint venture company in Trollhattan and the other is to introduce a new majority owner in Nevs, with the plan of making Saab cars a global premium product. - The negotiations are progressing but we also see the complication of reaching an agreement when we are in a state of reorganisation. Our main owner has single-handedly financed the reorganisation and intends to get us out of it. In order for this to be possible financially, we need to reach a composition arrangement with the creditors, says Nevs CEO, Mattias Bergman. The composition proposal includes a composition of 50 percent for unsecured creditors on claims over 500'000 SEK.

Best and Worst GM Cars

Oh yes, because we just love receiving angry letters from devoted Pontiac Grand Am enthusiasts, we have decided to go there. Based on a heated group Slack conversation, the topic came up about the best and worst GM cars. First of all time, and then those currently on sale, and then just mostly a rambling discussion of Oldsmobiles our parents and grandparents owned (or engineered). Eventually, three of us made the video above. Like it? Maybe we can make more. Many awesome GM cars are definitely going unmentioned here, so please let us know your bests and worsts in the comments below. Mostly, it's important to note that this post largely exists as a vehicle for delivering the above video that dives far deeper into GM's greatest hits and biggest flops, specifically those from the 1980s and 1990s. What you'll find below is a collection of our editors identifying a best current and best-of-all-time choice, plus a worst current and worst-of-all-time choice. Comprehensive it is not, but again, comments. -Senior Editor James Riswick Best Current GM Vehicle Chevrolet Corvette We were flying by the seats of our pants a bit in this first outing and my notes were similarly extemporaneous. When it came time to tie it all together on camera, I failed spectacularly. Thank the maker for text, because this gives me the opportunity to perhaps slightly better explain my convoluted reasoning. I chose the C8 Corvette because it's simply overwhelmingly good, and it's merely the baseline from which this generation of Corvette will be expanded.  While the Cadillac CT5-V Blackwing (more on that in a minute) is an amazing snapshot of GM's current performance standing and its little sibling so enraptured me that I went out and bought one, their existence is fleeting. Corvette will live on; forced-induction Cadillac sport sedans, not so much. So while all three are amazing machines when viewed in a vacuum, the Corvette stands above them as both a reflection of GM's current performance credentials and a signpost of what is to come. So, given the choice between the C8 and the 5V-Blackwing right now, I'd choose the C8. In 10 years, when the Blackwing is no longer in production and Corvette is in its 9th generation? Well, that might be a different story. Now, just pretend I said something even remotely that coherent when we get to the part of the video where I try to make an argument for the 5-V Blackwing as best GM car I've ever driven. Or just laugh at me while I ramble incoherently.

Mahindra buying majority stake in NEVS, Saab saved again?

National Electric Vehicle Sweden (NEVS), owner of Saab, might not be dead yet, because the company is reportedly close to having a new owner with deeper pockets in near future. The declaration comes from the business's latest request to prolong its reorganization and includes the claim that NEVS has a signed letter of intent from an unnamed Asian automaker to take majority ownership of the beleaguered brand. While NEVS doesn't specifically name this potential, future owner in its filing, Automotive News Europe cites a SaabsUnited story proclaiming that the suitor is none other than Indian automaker Mahindra and Mahindra, a development that would confirm months of rumors. The Swedish automaker is reportedly just waiting for the majority investment to be finalized before making an official announcement, and the whole purchase could be complete by February. NEVS also claims that it's still negotiating with a separate, unnamed Asian automaker on a joint venture to co-develop new vehicles. Assuming the deal goes through, the new owner could regain the rights to the Saab brand, too. According to ANE, negotiations are underway with the Saab AB aerospace business to be able to use the trademark again. NEVS lost that right when it filed for reorganization. Mahindra has shown interest in owning Saab for quite some time. It was reportedly among the final three bidders for the brand in 2012, and the Indian automaker was allegedly eyeing a stake in NEVS as far back as June. Scroll down to read the brief press release from NEVS about the extended reorganization, and the full document can be viewed in PDF format, here. Nevs applies for prolonged reorganization Monday, December 01, 2014 National Electric Vehicle Sweden, Nevs, has today submitted an application to the District Court in Vanersborg, requesting that the company reorganisation shall continue for an additional time period of three months. The administrator Lars Eric Gustafsson expresses the rationale for why Nevs should be granted an extended reorganization in this enclosed statement.