Saab may be saved

Several other companies are taking an interest in the homeless brand after last week's announcement that sportscar maker Koenigsegg had withdrawn its bid.  Swedish government officials and Saab CEO Jan Ake Jonsson have already met in Detroit ahead of the General Motors board meeting later today to determine Saab's future.

Since Koenigsegg withdrew, other bidders have stepped up.  They include the Beijing Automotive Industry Holding Corp, US investment company Merbanco Inc and US private equity firm Renco Group, owned by US billionaire businessman Ira Rennert.

The Swedish Government is under pressure to rescue Saab but high level politicians say health care is more important than rescuing a car company, despite the fact that up to 8000 jobs are at risk.  Saab started life as an aircraft manufacturer and has built a solid reputation for high-quality, safe performance cars.

GM bought 50 per cent of Saab in 1989 and acquired the rest in 2000.  However, it has struggled to make money from the quirky brand with many analysts suggesting GM did not understand the brand.