General Motors subsidiary Saab heard the knell of death today as the Swedish government refused to bail out the iconic brand claiming disinterest in owning a car company. GM began it's gradual control of Saab in 1990 and had full ownership a decade later. The closing of the company would cause the immediate evaporation of 4500 jobs in southern Sweden as well as thousands of additional jobs among the suppliers. The government puts the blame squarely on GM for its lack of innovation and for building vehicles no one wanted to buy. Click on the title above and witness the nails being driven into the coffin.
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