Saab Files Bankruptcy

In a not-so-surprising development, the Swedish automobile company Saab has filed for bankruptcy protection in lieu of lagging sales, work stoppages and increasing debt. The filing comes as a surprise to virtually no-one in the automotive industry, and even auto transporters have noticed a significant decrease in Saab vehicles being shipped. The company is currently waiting for Chinese investors to come through with some much needed money, but until it gets past the regulatory phase, the company will be in financial limbo.