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The Swedish government today set out a Skr28bn (£2.35bn) plan to rescue its troubled auto industry, especially Volvo and Saab – owned by Ford and General Motors respectively.

This follows last night's decision by the US House of Representatives to endorse a temporary $14bn (£9.4bn) loan for America's Big Three carmakers – GM, Ford and Chrysler. The deal could yet be undermined by the Senate where it faces severe opposition from Republicans.

The Swedish scheme envisages a maximum 20bnSkr in credit guarantees and a further 5bnSkr in rescue loans for companies in crisis. The government has already set aside 3bnSkr to help the industry develop green technologies. Its move came as the German car industry demanded a multibillion euro injection from both the US government and the EU in the face of frozen credit lines.

Cash-starved Ford and GM are selling off Volvo and Saab but Sweden's centre-right government said it had no intention of taking stakes in either company. Finance minister Anders Borg said the scheme laid the groundwork for solving the real problems of the auto industry.
http://www.guardian.co.uk/business/2008/dec/11/volvo-saab-rescue-plan
 

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Mercury C557
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I can't help but wonder if the Swedish government could use some of these funds to facilitate some kind of Scandia Motors Group
composed of (partial) partnerships with Saab & Volvo
and outside investment groups
in order to promote/retain an automotive manufacturing industry for their country?

&
from.the.article said:
...In Germany Matthais Wissmann, head of the VDA trade body, said all companies producing cars in the US – not just US groups – should be treated equally...
SURE DUDE
Have YOUR gov'mint protect your manufacturers :D
oh
are you advocating Deutschland bankrolling the German Ford factories??? :p :p :p

&
from.the.article said:
...The French government, meanwhile, injected €10.5bn capital into the country's five biggest banks through its state stake-holding company – a scheme approved by the commission on Monday and designed to increase credits for companies, local councils and individuals...
seems to me a major part of the world's auto mfgs' problem is the God Damn Banks aren't doling out the bailout bucks in LOANS to manufacturers like they're supposed to...
...we'll see if the French banks do a better job than our Assholes(=Banks)



edit: here's the link to money.CNN.com's version
 
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