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The Swedish manufacturer SAAB was swallowed up by the global car making behemoth General Motors in 1989 when economists were certain that nothing would ever go wrong with the global economy.
The workers at SAAB and their families may be among the latest victims of the global depression. general Motors has issued instructions that the winding up process should begin.
general motors has already been trying to sell SAAB for a year with several bids either already inspected on currently on the table.
Personally I feel that the American company will close any overseas loss making manufacturer that it cannot sell to reduce the job losses that they have to make in their home nation.
My sympathy lies entirely with the Swedish families who will lose their livelihoods through no fault of their own.
More bad news for Swedish manufacturing is that Ford is in negotiations to sell Volvo to a Chinese car manufacturer. As the British found out when MG Rover was sold to the Chinese they tend to take the production lines to China and then import the product for sale into its former home nation.
I am sure that the Swedes will not appreciate this process any more than we did.
