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Official

After a protracted battle for financial stability, Saab has filed for government protection. The official filing submitted this morning in Sweden isn't a liquidation, however, it's a bid for reorganization with the assistance of a government-appointed independent overseer. Saab boss Victor Muller:

Report

The Saab saga continues. According to Reuters, the Swedish automaker has announced that the company is issuing more shares in an attempt to drum up funds to pay its white-collar workers. GEM Global Yield Fund, an investment company, has committed to purchasing around five million of the new shares, giving it a 17 percent stake in Saab. Even so, most analysts predict the move will only raise around €6.9 million (around $10M U.S.) when the automaker needs at least €50 million ($71.5M) in

Swedish site The Local claims that Saab produced $531 million in black ink in 2009. Not possible, right? General Motors was, after all, all too ready to walk away and let the Born from Jets automaker die a pauper's death. Well, it seems as though all automaker profits come chock-full of asterisks, and the half a billion dollar profit is certainly no different. Saab was reportedly able to make with the dough by brokering deals with creditors to write off 75 percent of its debt and by selling tech