More blows to Saab automobile as various board members resign and the Union call for the company to seek bankruptcy protection.


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Sunday, 26 June 2011
There are no more board members left in the car manufacturer Saab Automobile's board, apart from Chairman Victor Muller. Saab's legal counsellor Kristina Geer as well as two members of the Union has resigned from the board and other positions they hold.

 H�kan Sk�tt, member of IF Metall's who represented the Board of Directors, referring to the difficult situation the company finds itself in the reason for the resignations.

Saab's communications director Eric Geers says that his wife, Kristina Geer has left the board because she did not want to sit on double chairs, as both legal counsel and director.

Why Union representative Anette Hellgren chosen to leave her position is not yet known. Last week Saab worker were informed that they would not receive their June salaries. On Monday, the official payday, there is not indication that any money will come into anybody’s account.


In that line, at least a dozen of Saab’s employees are reported to have been forced to take loans at Swedbank in order to pay their bills. An onslaught is expected to the office on Monday morning unless the management of the car manufacturer presents a solution to the company's acute economic crisis.

The banks too, would surely be hoping to make a meal out of their miseries through their higher interest rates as most of those who’ll borrow will do so at an interest of about   6.85 percent in anticipation that Saab is declared bankrupt. Only then would the state security start to be valid.

Already on Thursday, Swedbank office in Trollh�ttan, where many employees have their salaries, granted loans to a dozen employees who had an acute shortage of money. But so far the bank in being friendly by postponing interest payments.

“It is actually a loss of business for us. But we still think we should help in this very special situation,” says Thomas Eriksson, head of Swedbank's office in Trollh�ttan.

More employees may have been granted loans via the bank's telephone banking system, which was open last Thursday and today. The loan applies no matter where one live. The condition is that the loan applicant is employed by Saab.

But not everyone can expect to get a loan. Those with poor credit or just emerging from bankruptcy will have to struggle in economic hardship as no one will give them a loan.
By Team

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