GM's Saab files for bankruptcy protection in Sweden; is GM next?

Sweden has been in the news lately. And so has General Motors (GM). But you may not have known that the two intersect. That's because Swedish car-maker Saab is a GM subsidiary -- one that just filed for bankruptcy.

GM's viability is also seriously in question, thanks to its unrealistic financial projections. Perhaps the best solution is some kind of prepackaged bankruptcy that would let GM continue operating while it renegotiates contracts with workers, suppliers, dealers, and bondholders.