12/01/2010
Saab to become history after G M announcement
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Thousands of people around the world are set to lose their jobs because General Motors has made the decision to close the 62 year old Swedish manufacturer after they failed to reach agreementson a sale to Spyker. GM's vice-president for corporate planning, John Smith, said the US corporation had been trying to sell Saab since February and had been working with the Swedish government and the European Investment Bank, which had offered to loan money to aid a buyout. But he said that during due diligence, issues had arisen that could not be resolved to the satisfaction of both GM and Spyker.
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