Sweden Says No to Saving Saab

cnredd · #1 (**permalink**) 04-01-2009, 03:10 AM

Quote:

Saab Automobile may be just another crisis-ridden car company in an industry full of them. But just as the fortunes of Flint, Mich., are permanently entangled with General Motors, so it is impossible to find anyone in this city in southwest Sweden who is not somehow connected to Saab.

Which makes it all the more wrenching that the Swedish government has responded to Saab’s desperate financial situation by saying, essentially, tough luck. Or, as the enterprise minister, Maud Olofsson, put it recently, “The Swedish state is not prepared to own car factories.”

Such a view might seem jarring, coming as it does from a country with a reputation for a paternalistic view of workers and companies. The “Swedish model” for dealing with a banking crisis — nationalizing the banks, recapitalizing them and selling them — has been much debated lately in the United States, with free-market defenders warning of a slippery slope of Nordic socialism.

The US goes socialist and socialist Europe is deciding to swing back towards capitalism...

It's like the north and south poles switched...

Gordon Shumway · #2 (**permalink**) 04-01-2009, 10:17 AM

Quote:

Originally Posted by cnredd

Sweden Says No to Saving Saab

The US goes socialist and socialist Europe is deciding to swing back towards capitalism...

It's like the north and south poles switched...

Interesting since Saab is a division of Gm we're already giving them billions.

Why should Sweden since we're doing it for them?

cellularsociety · #3 (**permalink**) 04-01-2009, 10:40 AM

It's a real shame you know because Saab have only recently created the car that ought to, IMO, save them - the 1.9 ttid twin turbo diesel.

Ah well, so it goes eh?

Mark

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