http://zerocars.blogspot.comResidents of the city of Trollhattan, Sweden, fear the results of the hard-nosed approach that the government has taken with Saab will be bad. When asked about Saab's desperate financial situation, enterprise minister Maud Olofsson said recently, "The Swedish state is not prepared to own car factories."
Apparently, the country's view on "car factories" is substantially different on its view of banks. The so-called "Swedish model" for dealing with a banking crisis is essentially nationalizing the banks, recapitalizing them and selling them. In fact, the banking model has been the topic of much debate in the United States, where free-market defenders have called it Nordic socialism.Unlike other European countries that have stepped in to assist their ailing auto companies, Swedish officials have condemned the practice as protectionism. They have also said that they want nothing to do with Saab's owner, GM, which is, of course, trying to save its own hide. GM has vowed to stop supporting Saab by the end of this year. Ms. Olofsson described the act saying "they wash their hands of Saab and drop it into the laps of the Swedish taxpayers." She added "We are very disappointed in G.M., but we are not prepared to risk taxpayers' money. This is not a game of Monopoly."Saab is currently in a state of "reorganization" which, in Sweden, is one step above bankruptcy. While Saab had supposedly lined up as many as five buyers at the beginning of the month, time is running out and the 4000 Saab-employed Trollhattan residents are getting antsy