Saab Jumps on the Bailout Bandwagon
Hopefully Saab executives won’t fly luxury private jets to meetings with the Swedish government – the Swedish Auto Company (whose parent company is General Motors) is reaching out to Sweden in hopes of a small economic “bailout” as they call them these days. Since the US Congressional hearing went down in flames and the possibilities of future help from America may not come, it’s time to reach out to the foreign investors.
Saab Managing Director Jan-Ake Jonsson has been in talks with Sweden’s industry minister, Maud Olofsson offering requests for aid. A loan amount of 248 Million USD has been bounced around on both ends. US lawmakers, still considering a 25 billion dollar bailout for the Detroit automakers, are weary of giving money to the industry that may be used to prop up operations outside of the United States.
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