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dbt Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-19-11 05:41 AM
Original message
Saab files for bankruptcy in Sweden
Source: BBC

Troubled Swedish carmaker Saab has filed for bankruptcy after failing to secure fresh funds from potential Chinese investors.

General Motors (GM), which owns part of Saab, did not want Chinese carmakers accessing technology licences. <snip>

Saab had been in takeover talks with several Chinese companies, including Zhejiang Youngman Lotus Automobile.

The Swedish carmaker said the breakdown of these talks - following the intervention of GM - left it will (with?) little option but to file for bankruptcy.


Read more: http://www.bbc.co.uk/news/business-16242115



Article notes that workers have complained of not being paid since last month.
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Bryn Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-19-11 03:07 PM
Response to Original message
1. Ouch! I really like Saab
Chinese carmakers? Good grief! We get about everything made in China now.
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PatrynXX Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-20-11 01:42 AM
Response to Reply #1
4. thats bad
one of my uncles is the lead mechanic in Colorado for Saab. He's the go to guy.
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Hardrada Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-19-11 04:57 PM
Response to Original message
2. The Saab Story
Soon to be a depressing Swedish flick. I'm sorry.
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countryjake Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-20-11 12:57 AM
Response to Original message
3. kick
.
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snooper2 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-20-11 10:52 AM
Response to Reply #3
5. I don't think it's necessary to kick threads anymore
:rofl:
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countryjake Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-20-11 02:32 PM
Response to Reply #5
6. Just getting dbt's useful posts up above your garbage...
or don't you care about actual current events?

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snooper2 Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-20-11 02:39 PM
Response to Reply #6
7. Don't really care about Saab junk, but will kick again for ya
:P
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countryjake Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Dec-20-11 04:56 PM
Response to Reply #7
8. But do you care about auto workers?
:think:
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