My favorite bit of Saab trivia is that in the 60s, Norway offered Sweden half of its mineral interests in the North Sea in exchange for 40% of Saab. Sweden declined.
But good industries may be more long term beneficial and maybe creates a more healthy and sustainable society compared to oil money doping.
Pretty sure that deal included Volvo as well, which was always bigger, particularly also including the trucks division.
Not sure how serious it was though, and maybe it is only a fairy tale.
You’re right though that I should have caveated that trivia - I’m not certain about the specifics or the essential truth of it. Still an interesting counterfactual to consider.
And the story of how their sovereign fund came to be is quite an extraordinary one.
For those interested: https://www.ft.com/content/99680a04-92a0-11de-b63b-00144feab...
Edit: and an enticing excerpt
> But al-Kasim’s most immediate problem on arriving in Oslo that morning was how to fill the day […] “So I decided to go to the Ministry of Industry and ask them if they knew of any oil companies coming to Norway.”
> He deposited his luggage and walked to the ministry, where he was received by a baffled official who told him to come back that afternoon. When he returned, expecting only an address list, several men were waiting for him. “They were keen to know what had I been doing, what kind of education I had, whom I worked for. […]” His request for a list of possible employers had turned into an impromptu job interview. […] At the time of his surprise call, Norway’s oil administration numbered just three officials, all in their thirties and all learning essential parts of the job as they went along.
What I meant was not that Norway has spent their oil money irresponsibly.
Just that they are not (quite) an industry nation.
It is a bit like comparing a person that wins the lottery at 18, although spending it wisely.
Compared someone working their way through life.
Who has a healthier life in the long run?
(I am a swede an my whole post has a not very subtle smell of jealousy, just like person 2 in my example probably has)
Never heard of that. Feels like an obfuscated version of the Volvo-Norway deal that Volvo's CEO PG Gyllenhammar attempted. Are you sure you are not mixing things up?
SAAB - Svenska Aeroplan AB (Swedish Airplane Limited Company)
If you call SAAB SAAB, you might as well call NEVS NEVS :)