27 January 2010

Saab Auto to Survive

I think that the folks at GM have finally realized that they could either close down the company, pay the costs for that, and secure the undying enmity of a lot of potential future customers, or sell it to someone for a bag of magic beans.

In this case, "someone" is the Dutch sports car manufacturer, and the magic beans are $74 million in cash and $326 million in preferred shares, which, for a company that can manufacture about 100,000 cars a year, is a pittance.

I've always liked the cars, though I've never owned one, and I think that this is a positive.


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