AFSCME 3357-HOF'S BLOG

Koenigsegg to Buy Saab





GM announced today that it will be selling Saab to Koenigsegg Automotive AB. For Saab workerws, it's an ABBAriffic outcome because Koenigsegg is a Swedish cmoany. If you've played a roadracing video game within the last 5 years, you've heard of Koenigsegg, a maker of thousand horsepower supercars taht compete with the Bugatti Veryon. If you don't play videogames and you don't live in L.A., Palm Beach or an Arab Emirate, you probably have never seen a Koenigsegg vehicle.

It doesn't look like Koenigsegg is putting up much if any of its own money. GM (meaning you and me) is financing part of the transaction.

Today's announcement comes in the wake of last week's news story when GM announced that it had more than 16 bidders for Saab. Apparently Koenigsegg was teh only one that didn't use a Hotmail account.