- Dec 19, 2009
REPORT: Swedish government to meet with GM officials - could Saab still be saved?
Saab 9-5 - Click above for high-res image gallery
Less than a day after General Motors officially announced Saab's euthanization, it looks like the storied Swedish brand might still have the faintest whisper of a pulse. Motor Trend is reporting that there are rumors swirling that the Swedish government will hold emergency meetings this weekend to try to save Saab. At least some government officials apparently feel that Saab is too important to fail... now where have we heard that before? With such a small population, the closure of Saab could have a major impact on the nation's economy, much like the failure of GM (and Chrysler, to a lesser extent) was viewed as potentially catastrophic in the States.
Some 3,400 employees will be jobless when GM completes its planned "orderly wind down" starting in January. That estimate doesn't include workers from the 1,100 Saab dealers that will also be shuttered around the globe.
Despite the failed selloff, things look like they're picking up at The General. The automaker announced yesterday that they had paid back the first $1 billion TARP money they borrowed from
[Source: Motor Trend]