Saab To Decide On Reorganization Today

According to a poorly translated copy of an article from Swedish news outlet, SVT, Saab plans to take matters into their own hands and decide on a reorganization to protect itself from creditors.

Basically, the message out of Sweden is Saab is on its own — with neither GM or the government willing to save itself, they've got to decide on their own to create a reorganization proposal to protect itself from creditors. Here's what SVT claims:

Jöran Hägglund (C), State Secretary in the Ministry of Industry, commented in SVT's Gomorron:

- It is clear that Saab must act on the situation is. But is it the end of something, or it may be the beginning of something else?

- There is a bit different interest for Saab as a whole or parts of Saab. So I do not think we have heard the last word in this.

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According to svt, some kind of decision will be made at Saab's board meeting today at 11. (Hat tip to Herschel!) [svt via Google Translate]

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