GM's Saab Unit Files For Protection From Creditors
STEVE INSKEEP, host:
NPR's business news starts with turmoil at the automaker Saab.
The Swedish-based company filed for protection from its creditors today; that's described as something like bankruptcy protection in the United States, and it asked to be spun off from its parent company, General Motors. Saab says it wants to take the resources back to Sweden and become a fully independent company, but the company could face an uphill battle. On Wednesday the Swedish government rejected GM's request to bail out Saab with state funds.
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