Sunday, 11. September 2011
Sadly it looks as though we are about to lose Saab as a car manufacturer. They applied to the court in Sweden for protection from their creditors but the application was tuned down by a Swedish court yesterday. Whilst Saab are looking to appeal it is unlikely that at this late stage they will avoid bankruptcy. The company was bought from General Read more »
Tuesday, 1. September 2009
We are hopefully seeing some green shoots of economic recovery in various parts of the world. In the UK we paid off more than we borrowed last month for the first time ever and house prices are starting to rise but company closures and redundancies are still running at a high level and will probably do so for some time as we bump along waiting for the sustained upsurge in the UK and world economy. This means that many more of the population will continue to Read more »
Thursday, 5. March 2009
Car maker Saab, owned by struggling US manufacturer General Motors has filed for bankruptcy protection in Sweden whilst they look for a new parent. The Swedish government refused to match the $420 million investment that was offered by GM in order to turn the company around. GM would only provide the money if the Swedish government matched it. As the government was not prepared to risk tax payers Read more »