I’m away for work, so posting may be light for the next few days.
Look for GM chief Rick Wagoner to make good on those job-cutting promises, and soon, as GM recorded another huge quarterly loss, particularly in North America. Other regions fared a lot better, with GM Europe recording its first profitable quarter in 5 years.
Overall quarterly losses were US$286 million but North American vehicle operations posted a $US1.2 Billion loss for the quarter. Luckily GMAC’s still contributing well. If Wagoner can get the mix of new models and lower medical costs right, there’s huge upside potential there.
Businessweek has a great report if you’re interested.
Prolific local Saabist, Drew B, has just added to his stable with the purchase of a very rare 1973 Saab 95 wagon. It’s a yellow V4, formerly owned for around 20 years by another local and Tasmanian Saab Club founding member, Jim S.
Unfortunately Jim and his wife Mandy have moved to Canberra and they needed more reliable daily transport, so Drew benefited from circumstance and now has a new addition to his personal Saab museum, which consists of a pristine black 1993 900 Turbo S, a white 99 Turbo, a black 99 Turbo to be restored and a blue 1971 99 that’s currently stripped back to bare metal awaiting a respray (which will be an ongoing story here at Trollhattan once I pin him down for some photos and text).
Here’s the 95, currently the subject of a nearly week-long polishing and detailing assignment in Drew’s carport. More pics can be seen here.