Wow and I really like Saabs too. I hope they can survive, maybe a merger with Volvo??
Saab in Bankruptcy Filing; G.M. Seeks More Aid
By MICHELINE MAYNARD
DETROIT — Saab, the Swedish automaker, filed for bankruptcy protection Friday and asked its government for financial support to remain in business as an independent company, separate from General Motors, its parent.
It was the latest example of auto companies asking governments in different countries — including the United States and Canada — to step in with aid, opening the door to those governments playing a direct role in deciding the future form of their automobile industries.
“This looks to me like it’s going to be a subsidized industry forever,” said Donald R. Grimes, an economist with the University of Michigan. “And then the question becomes, do you view it as a public benefit that the government should provide?”
Hours after Saab made its case to the Swedish government, General Motors submitted a request to the Canadian government approaching $6 billion, which is double the amount it previously said it would seek, according to Michael Bryant, the economic development minister for Ontario....