Though somewhat speculative, it looks like a Chinese firm may be picking up Volvo for ~$3 billion. (Search Volvo Geely in Google News.)
As a long-time Swedish car fan (I was brought home from the hospital in a Volvo, learned to drive (illegally) in a '62 P210, etc.), I guess this makes me a bit sad. I just can't see how the Chinese could keep the soul of the brand, retaining the Scandinavian design and values imbued in the cars. Then again, maybe they'll have seen what GM did (did not do) with Saab and learn from their mistakes. 
I think it's sadly pathetic if it's true that the Chinese keep picking up there fire sale companies because the rest of the world can't figure out how to run them and/or make money with them. I am no big fan of the Hummer but it shouldn't be Chinese. Now Volvo? Wasn't there some talk of Jeep too? Absolutley pathetic.
cwh
Dork
6/19/09 8:17 a.m.
As proud Americans, we have always thought of ourselves as having the Biggest, the Best, the Strongest, the Richest, Most Powerful Country in the World. It certainly seems that a lot of this is at risk now. And it seems like it hit so fast! I'm sure that Bin Laden is giggling in his tea cup watching . Our strongest institutions busted, real estate boom flushed, banks bailed out, national debt skyrocketing, seems like every other person out of work, and we're being bought up by the Indians and Chinese. Scary times.
The Chinese are sitting on a boatload of liquid assets. Read "Lost On Planet China" for some insight. It's written as a comedic travel book but has some great insight into China, the Chinese people, and their government.
Lost On Planet China at Amazon.
