Dedicated to the Restoration of Progressive Democracy
Friday, July 15, 2011
Venerable Swedish car maker, SAAB, is all but officially kaput. It's all about SAAB's suspensions. First it suspended payments to its suppliers. Then it suspended production. Now it's suspended paycheques due to its employees.
The problem was a dismal sales performance. Industry analysts figured SAAB needed 120,000 units in sales just to break even but sold only 30,000 cars last year.
There's a lot of fingers being pointed at General Motors which owned SAAB for 20-years. It's said that GM basically ran SAAB into the ground. Quelle surprise!