Bankruptcy

GM to Close Saab

By mcbride

The talks with the tiny specialty automaker, Spyker, have failed ? so there is no buyer for long time Swedish car maker Saab.  GM had previously announced plans to close the car company if it did not sell by the end of the year.  Although no one has mentioned it in the business press, Saabs line up of vehicles is waaay out of date, in contrast to, say German manufacturer Opel ? a company which GM has indicated it will not sell despite initial plans to do so.  ??We were so incredibly close,? Spyker CEO Victor Muller said in a text message to Bloomberg News. ?I have no words.??

 Here is a link:  http://www.bloomberg.com/apps/news?pid=20601085&sid=aOIIYP2v.TOo

 Michael

Full post as published by Texas Lawyer Blog on December 18, 2009 (boomark / email).