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BBC News - Saab files for bankruptcy in Sweden:"General Motors (GM), which owns part of Saab, did not want Chinese carmakers accessing technology licences."
Earlier this month, a Swedish court told Saab's owners to come up with a credible rescue plan or else enter bankruptcy.Some of the world's biggest car makers are warning EU leaders about how damaging a prolonged debt crisis could be to their industry. (Padmore, Russell. BBC. 2 Dec 2011. HERE)
General Motors sold Saab in 2010 to Dutch luxury carmaker Spyker - now renamed Swedish Automobile - but the US automotive giant remains a stakeholder and a supplier. (BBC. 19 Dec 2011. HERE)
On Thursday Fiat's boss warned his firm may pull out of Italy completely unless the situation improves.
'via Blog this'
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http://www.bbc.co.uk/news/business-16242115
http://www.bbc.co.uk/news/business-15999226
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2 comments:
the old man used to say..."the only thing worse that cheap Swedish plastic is cheap French plastic".
He had a lot of experience selling Saabs and Peugeots
Ted Connolly is a lawyer in the Boston office of a large, international law firm, where he concentrates his legal practice in bankruptcy and finance law.
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