Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
I can't say I agree with this. Carnegie is a bank, and hence as Migeru said, special. They shareholders have lost everything, and while I'm not sure I don't think the creditors got much either.

When it comes to the cars, Volvo will probably survive. They make pretty good cars in an internatonal comparison and will get new owners of one kind or the other.

SAAB on the other hand is probably the shittiest auto manufacturer outside North America. There is really nothing worth saving in that company, except the technology portfolio (and even there SAAB has mainly gone for stupid ethanol). Currently the government is playing its part in the theater with the Koenigsegg front, which seems interested solely in plundering the public coffers, and the government only interested in not paying out any money to a doomed company or corporate plunderers, while neither being seen as the one which gave SAAB the mercy bullet.

And after all, Sweden does have to much of its economy focused on vehicle manufacturing (only Slovakia and Germany ahve more). Even if SAAB goes down, we'll still have Volvo PV, Volvo Trucks and Scania Trucks. Those truck companies are world class. The auto companies are not.

In a globalized economy with free capital flows we must play to our absolute advantages, not waste energy on saving industries were we won't be number one.

Peak oil is not an energy crisis. It is a liquid fuel crisis.

by Starvid on Thu Aug 20th, 2009 at 02:59:10 PM EST
[ Parent ]

Others have rated this comment as follows:


Occasional Series