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Re: BMW engines
Posted by Tim (more from Tim) on Mon, 26 Dec 2011 21:22:19
In Reply to: Re: BMW engines, ryan
[Profile/Gallery]
, Mon, 26 Dec 2011 20:56:47
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Yes, both the engine and platforms. To answer the salient point in the other post. IMHO, none of the existing big car makers stepped in previously because nobody wanted the legacy cost. With bankruptcy liquidation, all that goes away. The Swedish government is responsible for unemployment payment and legacy cost, presumably out of some kind of national insurance fund that the SAAB workers had presumably paid into for decades.
In a liquidation like this, the new buyer will essentially be buying the factory, the name usage licensing from SAAB AB (the aircraft company), and the hiring of the workers, in three separate transactions. The new buyer is not responsible for paying interest on the idled plant or the workers' wages before the factory is ready to produce cars again, or the legacy cost of retired workers (who presumably will be getting retirement from some kind of government pension insurance fund that they paid into for decades precisely for bankrupt liquidation case like this), unlike the previous bankruptcy re-org protection. It will be a new company with zero production workers until production is ready (while the workers of the liquidated company receive unemployment benefit, just like regardless whether there is any buyer or not). Of course the bankruptcy administrators have the right (and duty) to sell the factory to the highest bidder and one who have the best prospect of generating future tax revenue for the Swedish government (both on profit from the company and on income from workers)
posted by 24.91.39...
Posts in this Thread:
- "rune" on SU posted something interesting, ryan
, Mon, 26 Dec 2011 12:48:04- Re: "rune" on SU posted something interesting, Paddan, Mon, 26 Dec 2011 18:33:28
- Both problems go away if the buyer is an existing, Tim, Mon, 26 Dec 2011 18:44:51
- Re: BMW engines, BobS, Mon, 26 Dec 2011 20:49:41
- Re: Both problems go away if the buyer is an existing, Paddan, Mon, 26 Dec 2011 20:01:33
- BMW would be very interesting...., Mark from Toronto, Mon, 26 Dec 2011 19:19:10
- Agree, Tim, Mon, 26 Dec 2011 21:03:53
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