RIP: GM To Saab, "...And Don't Let The Door Hit You On The Way Out"

In a rather unfortunate turn of events, the Saab brand shall live nevermore.

It's a shame really, too. What is shocking is how the General Motors team can just turn their backs on the organization after supposedly four offers were made. From a business perspective, GM probably just did not want to shoulder anymore of the burden that would last from a company not willing to take 100 percent of its operations over.

As we saw in December's sales, the Saab brand wound up selling less than 900 cars in the final month of 2009.

So, you cannot entirely blame them. Saab was not exactly a runaway hit in the States.

For more details, read below...

The Detroit News reports:

"General Motors Co. has received four offers for its Swedish carmaker Saab, but, in an ominous sign, it said it had retained the restructuring firm AlixPartners to supervise "an orderly wind-down" of the struggling unit.

GM said it was looking at the proposals it had received for Saab and added that "the evaluation is not affected by the appointment of AlixPartners."

But its dual-track initiatives underscored the impression that the U.S. automaker was not confident in the bids coming in for the Swedish carmaker. It had set a Thursday deadline for proposals and a source close to the company said four offers were submitted..."