Friday, February 20, 2009

GM unit Saab files for protection from creditors

Sent from Express News
STOCKHOLM - General Motors Corp.'s Swedish-based subsidiary Saab went into bankruptcy protection Friday so the unit can be spun off or sold by its struggling U.S. parent, officials said.

The move comes after Sweden turned down GM's request for government help for Saab.
By KARL RITTER Associated Press Writer

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