Massively looks at the best free to play games

AOL Money & Finance

GM and Ford: No US bailout, go to Sweden

Just in case the US Congress will not bailout Ford (NYSE:F) and GM (NYSE: GM), the car companies are turning to the Swedish government to help their Volvo and Saab units. The government there does not want to see a lot of lost jobs, so it might just put up some money to help out the US firms.

According to the FT, "Stephen Odell, Volvo's chief executive, and Saab's managing director Jan-Ake Jonsson have separately spoken to Maud Olofsson, Sweden's industry minister, and other officials about securing funds." The American firms have decided to sell the businesses, so Sweden may need to keep them on life support until that happens.

The move shows how desperate the US car companies are. While they may not be able to get the US government to provide them aid, they can appeal to Sweden on the basis that Saab and Volvo are huge employers in the country. Real trouble for the division could raise unemployment in the Scandinavian country causing it to pour unemployment and other social services capital into its economy,

Americans begging in Sweden. Nice picture.

Douglas A. McIntyre is en editor at 247wallst.com.

Get the latest on cars and trucks
from GM and all brands at AOL Autos.

Reader Comments (Page 1 of 1)

Symbol Lookup
IndexesChangePrice
DJIA-223.328,280.74
NASDAQ-49.201,796.52
S&P 500-26.91896.42

Last updated: July 06, 2009: 07:04 AM

BloggingStocks Exclusives

Hot Stocks

Learn More About GM Cars

General Motors Brands:
Find Your Next Car

AOL Autos New Cars and Used Cars

DailyFinance Headlines

Latest from BloggingBuyouts

TheFlyOnTheWall.com Headlines

BioHealth Investor Headlines

WalletPop Headlines

My Portfolios

Track your stocks here!

Find out why more people track their portfolios on AOL Money & Finance then anywhere else.

BloggingStocks Partners

More from AOL Money & Finance

WalletPop Headlines