Word: saab
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Dates: during 1980-1989
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There's nothing like teaming up with a $100 billion company to improve one's prospects. Or so Swedish automaker Saab-Scania AB hopes. Saab last week agreed to sell General Motors a 50% interest in its car-making operations, which had 1988 sales of $2.6 billion, for some $600 million, plus a promise that GM will invest another $100 million. Saab, which also makes trucks and aircraft, will spin the auto holdings into a subsidiary to carry out the deal...
...latecomer to the Saab wooing game, which began when Ford started courting the company earlier this year. After the collapse of those negotiations, auto-industry analysts expected Italy's Fiat to be the winning suitor. For Saab-Scania, which lost $123 million on its car-making operations in the first half of 1989, the advantage of the deal was access to GM's deep pockets. GM will gain badly needed production capacity at Saab's five plants in Europe, plus a stronger position in the U.S. and European luxury-car markets...
...course. There is enough room in its midget trunk for two tennis rackets and one can of balls. Is it a yupmobile? A delicate question, but the answer is not really. Yuppies lack a sense of nonsense. They buy BMW or Saab Turbo convertibles, ragtop versions of sedans that are irreproachably expensive and slightly stodgy. If you must pick up your elderly aunt, her Doberman and her scuba gear at the airport, you can manage it in one of these. In the Miata...
With its turbocharged engine and curvilinear profile, the Swedish-built Saab 900 was a chariot of choice for arrivistes of the mid-1980s. But now Saab- Scania's auto division is hitting the skids, largely because of intensified competition and a relatively weak dollar that has pushed the cost of Saab's newest 9000 turbo model to a base price of $30,795. The parent company confirmed rumors last week that it is discussing a possible linkup with Ford, which could give the Swedish company's finances a boost. The U.S. automaker is believed to be particularly interested in ventures...
...someday to continue the family tradition. His political outspokenness got him thrown into jail four times, but each time he emerged with even greater popularity, until he became a symbol of the mounting opposition to the dictator. On Jan. 10, 1978, as he drove to work in his red Saab, two shotgun- wielding assassins blew him to bits. Says Jaime Chamorro, Pedro's brother and now business manager of La Prensa: "His death ignited the national insurrection against Somoza. It released 40 years of suppressed rage...