Saab Veering Toward Junkyard

GM’s bid to sell its Saab unit to a small Swedish automaker has fallen through after Koenigsegg pulled out yesterday, citing costly delays in the closing process. Saab’s managing director tells the Wall Street Journal it’s “premature” to write the employer of 4,000 off, but one GM exec isn’t so optimistic. “Saab has been identified as a brand GM would divest itself of, one way or another,” he says, and the next likely step is to shutter it. (More General Motors stories.)