Well, well, well. Guess that Volvo and Saab chose the right country to be based in:
Sweden’s troubled carmakers, Volvo and Saab, have been given a 28bn kronor (£2.3bn, $3.5bn) government bail-out to help them cope with falling demand.
This comes after the US House of Representatives approved a $14bn (£9.4bn) rescue for US car firms.
Volvo and Saab had been asking for Swedish state support because of the financial woes of their US owners.
The plan consists of a maximum of 20bn kronor in credit guarantees, and up to 5bn kronor in rescue loans.
As well as the credit guarantees and rescue loans, the government said it would also earmark 3bn kronor in research and development funds for the car industry.
Seems that the companies employ 140,000 people and Sweden isn’t willing to lose all those jobs. Those Swedes, unlike Republicans they don’t understand that only the jobs of financial firm executives are worth saving.



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Ignorant Swedes!
When you’ve got Pat Buchanan this a.m. on MSNBC scolding southern Republican Senators for supporting Mitsubishi over American companies, you know it’s a topsy-turvy world.
Plus, of course, Volvo and Saab don’t pay for health insurance for their employees. Everyone should base operations in Sweden or Norway or Costa Rica or France …
Who was it that demonstrated that Southern Republican dislike of unions was rooted in the fear that unions would force Southern employers to hire black people at decent wages?
Pat Spewcannon has been doing the false populist bit for years. Even tried it when he ran for Prez. He’s just trying to keep an audience IMO.
More craptastic coverage of the bailout,
courtesy of the AP, in the local Ganett rag:
Second day in a row with the word “Republican” not appearing in the bailout story.
Maybe it’s time to start a clock.
Don’t forget their bonuses. We need to protect financial executives and their bonuses otherwise they might be lured away to another job, cleaning streets or something.
I have heard that not only Sweden but also Germany, France, Italy, Japan and So, Korea are assisting their struggling car industries. Does free trade mean other countries have unrestricted right to pillage amerika?
OT: Was flying from Boston to Chicago yesterday, and when getting on the plane, I hear, “Standby passenger Axelrod, please come to the counter.” I thought what would be the chances it’s David. Didn’t see anyone come up before I went down the tunnel.
All settled in the back of the plane, and just before the door is closed, here comes David Axelrod rushing to make it. I’m thinking, “oh please, oh please sit near me.” He did sit in Coach but many rows ahead, and then I accidently fell asleep. He was long gone before the back row got off the plane.
What I wouldn’t have given to be able to pick his brain, especially about the bailout bidness for two hours as he’s trapped next to me. Damn.
Thanks Ian.
digg
Just saw that this is what Axelrod was doing in Boston:
http://www.boston.com/news/pol….._riveting/
Is there a bigger buffoon than Rick Davis. Yeesh.
Aren’t both of those companies subsidiaries of US companies now?
With apologies to Don McLean:
A long, long time ago
I can still remember how GM cars used to
make me smile
And I knew that if the Senate gave them a chance
I could make Mr. Goodwrench dance
And maybe they’d be happy for a while
Did you write the book of gov
And do you have faith in Paulsen above
If W’s Bible tells you so
Now do you believe in your GTO
And can a Corvette save your mortal soul
And can you teach me how to drive real slow
I was a lonely teenage broncin’ buck
With a pink carnation and chevy pick-up truck
But I knew that I was out of luck
The day GM died
I started singing
Bye, bye, Miss American Pie
Drove my Chevy to the Senate colloquy
But the bailout was dry
And Mitch and the boys were drinkin’ whiskey and rye
Singing this’ll be the day that Motown dies
This’ll be the day that UAW dies
Well now, in the streets Nascar dad’s screamed
The mechanics cried, and the car salesmen dreamed
But not a word was spoken
The unions all were broken
And the three men I admire the most
Gordon, Johnson and Earnhardt’s Ghost
Even they had to catch the last train for the coast
The day the GM died
We started singin
Bye, bye, Miss American Pie
Drove my Chevy to the Senate colloquy
But the bailout was dry
And Mitch the old boys were drinkin’ whiskey and rye
Singing this’ll be the day that Motown dies
This’ll be the day that the UAW dies
Volvo Auto is owned by Ford. Saab Auto is owned by GM.
This seems off-topic, but I think the country should be divided into 12 administrative provences that roughly correspond to existing Fed Regions. Each province would administer single-payer health care services funded by a federal government structure. It would make the provision of services much more management. Canada has such a structure that actually works, so I’ve heard.
…much manageable…
…much more manageable…
…province…
Does anybody but me wonder where the Labor Department has been in all this? I would think that, with the UAW at the center of the shitstorm, Secretary Elaine Chao might have something to say–or do–one way or the other. Could her invisibility have anything to do with the fact that Secretary Chao also serves her country as Mrs. Senator Mitch McConnell, one of those red-blooded sons of Jefferson Davis who are still fighting the Civil War, this time on the backs of Detroit auto workers?
And who is Obama going to pick for his Labor Secretary? I’d have thought we’d be hearing something about that by now, given the circumstances.
that’s a good question
Swedes rule! ABBA, Ingmar Bergman, myself (I’m part Swedish), and a reasonably intelligent government that doesn’t drink the “laissez faire, screw the unions at all costs” Kool Aid.
It prolly wouldn’t be repeatable, knowing the little I know about her.
Gosh, doesn’t Sweden also have a kickass healthcare system too. USA….third world, here we come! With a bunch of big guns……..
Perhaps Ms. Chao Chao and the newly minted Mrs. Charlie Crist are out “toy” shopping? (ahem)