Posted by Anthony Zumpano on February 2, 2010 12:03 PM
You’re a small car company that has never turned a profit, based in the bike-friendly Netherlands. For $74 million, you just purchased Saab – a poorly managed brand that lost a half-billion dollars last year – from General Motors.
So when asked whether it’s really possible for Saab to turn a profit within two years, if you’re Spyker, you reply: No problem! Spyker secured a 400 million euro loan from the government of Sweden, home to 3,400 Saab employees, which, when added to a few other loans from undisclosed sources, means the company no longer needs additional financing. At least that’s what Spyker is saying, as it predicts Saab profitability by 2012.Continue reading...
Posted by Anthony Zumpano on January 28, 2010 12:30 PM
Saab always seemed less like a child to GM than a Swedish foreign-exchange student who never returned home. For 20 years, this wasn’t much of a problem, but GM’s bankruptcy has forced the automaker to kick some kids out of the house.
GM planned to simply dump Saab along with Pontiac and Saturn unless it received an acceptable offer, and it appears a deal with Dutch luxury automaker Spyker has finally been reached.
Unless you’re Bernie Ecclestone, the Formula One chief who almost nabbed Saab for a buck two weeks ago, the agreement looks like a win-win-win-win deal.Continue reading...
Posted by Sara Zucker on January 27, 2010 07:24 AM
EBay changes its listing fees to increase sales. [Reuters]
Starting February, Chanel will raise handbag prices by $100. [Madison Avenue Spy]
Prince Charles stars in a new campaign to help Britain's wool industry. [WWD]
Toyota temporarily stops sale and construction of 8 models post-recall. [NY Times]
Thanks to General Motors, Saab enters Spyker's hands. [NY Times]
Book publishers continue to talk with Apple over Tablet e-books. [WSJ]Continue reading...
Posted by Stephanie Startz on January 13, 2010 08:51 AM
Google may stop complying with Chinese Internet censorship requests and shut down operations due to cyber attack. [NY Times]
Conan O'Brien rejects 12:05 timeslot, prepared to leave NBC. [NY Times]
Toyota to introduce two new Scion vehicles in 2010. [WSJ]
Nintendo Wii game console to stream Netflix movies. [NY Times]
Football sponsors launch digital initiatives in preparation for the summer World Cup. [WSJ]
Ferrero abandons Cadbury bid. [Times of London]Continue reading...
Posted by Stephanie Startz on January 8, 2010 08:11 AM
Spyker makes another bid for Saab. [NY Times]
BMW, Coke, Sony-Ericsson may take advantage of UK product placements. [BusinessWeek]
Tide's new ad campaign focuses on frugality, cleanliness. [NY Times]
Virgin moves into retail banking. [WSJ]
Jay Leno may get his old time slot back in NBC late-night shuffle. [NPR]
Best Buy's December sales top analyst expectations. [WSJ]Continue reading...
Posted by Stephanie Startz on January 7, 2010 09:04 AM
Weatherproof debuts new Times Square billboard using President Obama's image. [NY Times]
Sam's Club to sell own brand of vodka. [ABC News]
3D will be a major trend in 2010 with Sony, ESPN, Discovery and Imax offering products. [USA Today]
Cadbury and Hershey in talks after Kraft's hostile takeover bid suffers setbacks. [Times of London]
Toyota and Ford top brand perception survey. [WSJ]
Dove's new men's line goes to the gridiron, will debut at the Super Bowl. [AdAge]Continue reading...
Posted by Stephanie Startz on December 24, 2009 09:50 AM
McDonald's internal branding campaign, Voice of McDonald's, fosters goodwill with employees, consumers. [NY Times]
Lego expands brand "virtue" into videogames, movie tie-ins. [WSJ]
Ford may finally sell Volvo to Geely. [LA Times]
PepsiCo. pushes social responsibility internally, in advertising. [Warc]
Spyker wants to make the Saab "more Saabish." [WSJ]
Hyundai emerges from the recession a winner, sales up 6.2%. [WSJ]Continue reading...
Posted by Stephanie Startz on December 23, 2009 08:41 AM
Ford and Geeley announce progress in sale of Volvo. [NY Times]
Citigroup denies WSJ report on cyber theft. [WSJ]
RIM, Blackberry email service outages, delays hinder customers. [NY Times]
Fast food chain Wendy's launches mobile coupon promotion. [BrandWeek]
Gossip web site TMZ expected to launch a sports spinoff in 2010. [NY Times]
Nordstrom poised to enter recovery ahead of competitors. [WSJ]Continue reading...