Yet another example of "large corporation buys small profitable brand and proceeds to destroy everything that made it work and then discard the carcass". No one seems to be able to explain how this benefits the economy and community... only that the executives that made the decisions leading to these trainwrecks get their bonuses and loot anyway.
oh... and leaves thousands of workers spinning in the dust....
http://www.nytimes.com/2009/12/19/bu...er=rss&emc=rss
Quote:
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G.M. initially bought half of Saab in 1990 for $600 million, acquiring the rest in 2000 for $125 million. Under G.M.’s stewardship, Saab lost a large part of its Swedish identity as well as the technical prowess that earned it a loyal following, said Peter Wells, co-director for industry research at the Center for Automotive Research at Cardiff University.
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