. >>> saab strapped for cash. the swedish carmaker says it doesn't have enough money to pay off its staff. >>> and acquitted of hate crimes and inciting violence against muslims, a dutch court finds geert wilders not guilty. >>> he went against the advice of at least two top military officials who wanted more u.s. soldiers to stay and fight. president barack obama set up plans to reduce american forces in afghanistan, speaking from the white house, mr. obama said 33,000 soldiers would come home in the next 15 months. 10,000 of them by the end of this year. that reverses the so-called surge of u.s. forces the president ordered back in 2009. internet new plan u.s. troops numbers will fall by around a third to less than 70,000. nato's already said it supports the plan but the president's critics have questioned the pace and the timing of the withdrawal, as reaction from the taliban, too, in a statement says u.s. troop drawdown is only a symbolic step. >>> the u.s. president doesn't think so. he said coalition forces

is this the end for saab? >> not quite. but it certainly has all the reflections of, let's say, rover in the uk a few years ago. this is a company that in its current structure is coming very much to the end of the road. my guess is, the brand will survive, though, and we will see a change of ownership again at some point and perhaps with the saab brand moving to either russia or to china. but for the moment, production is at an end. the whole thing has ground to a halt. there's no cash to pay the wages or finance the business. of course, 30,000 cars they made last year just isn't enough to cover practicalities of the overhead of a company like this. >> this was a company that was sold for $400 million at the beginning of 2010. and now the owners are talking to the chinese companies you mentioned. there are two chinese companies involved, looking at taking control of this company. is that likely to go on? do the chinese still want to take this brand, do you think? >> there was a third chinese company involved which pulled o

they're looking for a buyer, but major financial crunch going on at saab.s from here, of course. >>> now, saudi arabia is steaming into a new era as it looks to diversify its oil-dependent economy. you're looking at pictures of the first mega container to arrive at the jeda islamic port, just one part of a huge infrastructure spending plan. aside from diversification comes saudi-ization. providing more opportunities for youth has become an increasing priority. jim bolden went to find out how foreign companies are helping saudi arabia meet that challenge. ♪ >> reporter: it's not often korean drums rumble into the saudi arabian night air. korean giant samsung is opening its new $100 million engineering training park in eastern saudi arabia. saudi arabia's petrol chemical region is one of the samsung engineer's biggest markets. >> are you our partner. >> reporter: samsung's new engineering center is one big way the company will increase the number of saudis it hires. and therefore, bring in fewer koreans and indians. >> at this time, saudi engineers is only 18

in a last-ditch effort to stay afloat, struggling swedish carmaker saab has begun selling off its real estate. the automaker can however still use the factories. in recent weeks, the company has been unable to make payments to the suppliers for the wages of over 3000 workers. >> it is expected to raise 28 million euros. for the first time in weeks, wages and bills might be paid. employees are relieved that a resolution has finally been found. >> it is like living in a vacuum. it never ends. if we are constantly thinking about these problems 24 hours a day, every day. it is an enormous amount of pressure for all of us. >> everyone depends on the real estate deal, and some promised money from china. it was reported monday that a chinese company ordered 600 saab cars and wants to transmit immediate payment of 600 million euros. >> the consumer climate index shows a rise for july. the recovery of the labour market, rising income expectations and tamed inflation -- all of these factors are outweighing any concerns about the debt crisis in greece, or unrest in the middle east. a bit of good

back to you. >> thank you. >>> not a good time to work for saab. the owner of the swedish automobile company says it doesn't have the cash to pay its staff. saab is trying to secure some short-term funding but there is no guarantee that will happen. problems with saab and problems for some workers right here in the united states and a move that has oil prices going down. here's jason brooks with kcbs and cbsmoneywatch.com. jason, with lower oil prices, could that mean lower gas prices? >> good morning, grace and frank. absolutely, that's what we are going to be seeing in the next few days at the pump. gas prices have already been falling about 22, 25 cents over the past month. we are going to see an even bigger slide. the international energy agency decided to tap into the world's strategic petroleum reserves. it's going to release 60 million barrels of oil onto the market over the next month. the u.s. will represent about 30 million of those barrels. it's because the production has dropped in libya 1.5 million barrels a day. crude prices are down

. >> tom: saab slammed the brakes on production today, but may restart things up again tomorrow. the ailing auto maker was shut for most of april and may after it ran out of cash to pay suppliers. now, those suppliers are running out of parts. spyker cars, which owns saab, also said the company will change its name to swedish automobile next week. >> tom: a strengthening economy may not overshadow upheaval in the mideast. israel's economy has picked up significantly since the height of the global financial crisis, its benchmark stock index is down about 7% this year. ester levanon is the head of the tel aviv stock exchange and she joins us tonight on "nightly business report." welcome. nice the see you. >> hello, tom. >> tom: how are your neighbors with the uprising in egypt and syria impacting business in israel? >> well, actually it's not affecting anything in israel, but the investor doesn't differentiate between what's happening in syria or in egypt is nothing to do with israel as israel is the real democracy and the only democracy in the middle east. but for foreign investor

saab is working on a deal that would give 235,000,000 euros and give a stake in steicher.this would mean all of sweden's auto industry is in chinese hands. samsung led has filed a copyright infringement case in response to a lawesuit against samsung. this is a subsidiary of the zemens corporation and will go public later this year. >> tahank yothank you for that. in new zealand, tremors affected the town of christchurch. they a eling from a.3 earthquake that killed 181 people earlier. >> the largest of monday's tremors had a magnitude of 6.0. the city was furtherr damaged as they struggle to recover fro mthem the earthquake. this has not weakened the government's long-term commitment to protect the surrounding area. >> with memories of the earlier earthquake in their mind, some people panicked when the largest tremor had struck. >> we were getting ready for the x-ray and and everything -- i am feeling very jittery right now. >> others are having a hard time coping with the constant aftershocks. >> you wonder if this has sustained it -- >> the pressure from an earthquake ca

the president is receiving medical treatment in saab rain following an attempt on his life.uropean leaders have warned the greek government that there is no alternative to cutting spending and putting up taxes as it struggles to deal with its financial crisis. the stark message was delivered at a summit in brussels on friday. what do the people make of it? tim kill cox reports from athens. >> the acropolis. for many, a strategic vantage point to watch hostile forces approaching from abroad. today athens finds itself under attack once again, teetering on the eng of financial catastrophe and risking taking much of rest of europe with it. this port is one of the busiest in europe. millions of tourists leaves from here for the greek olds. but this is now up for sale in one of the biggest and most controversial privatization plans the world has seen. the latest blow for national pride, and for greeks still reeling from recession and previous austerity packages. the sense of uncertainty in crisis runs through the whole of greek society. he is a married hotel worker who hasn't had

companies volvo's now in the hands of the chinese reports say a chinese company came to the rescue of saab was letting china invest in u.s. help. well they're already investing heavily unfortunately for the chinese they're investing in the wrong areas they're buying u.s. government bonds which is not helping us or the chinese because it's helping to grow our government i think that you know we do need to allow capital flow freely but what we have to do is stop borrowing all this money you mentioned earlier that one of the problems is that we haven't raised the debt ceiling that's one of the only good things out there the debt ceiling is still there unfortunately they're going to raise it we're going to go deeper into debt which means bigger problems and this is not just the economists are describing this is a sock but it's quicksand and the economy is big this is a soft patch these are the same people going to two thousand and seven said the u.s. economy had never been in better shape they didn't see this crisis coming right never understood the problems of the u.s. economy and they still

. >>> saab auto company says today they have not been able to go under the stage.t. so at this point bankruptcy appeared only days away. >>> the top con tes sapbts are about to hit the road. >>> the tour is going to be great. i can't wait to get out there and tour the country with my fellow comrades and having a good time out here. >> that was idol winner scotty mccareer we talking about the upcoming tour. they're scheduled to make two stops here in the bay area. the american idol tour will be at oracle arena. >>> it is an annual event, why protesters gathered outside a golf tournament and police had to be called in. >>> and i'm back here in less than 10 minutes, we're going to look at the bay area -- a place with natural beauty and a forward thinking spirit. at bank of america, we've been fueling economic growth here for over a century. today we're investing in innovations that will define our future. every day, we're working to help set opportunity in motion. from financing a solar project for the milpitas school district to funding the institute at golden gate.

. >>> saab auto company says today they have not been able to go under the stage.hey cannot get supplies on credit. so at this point bankruptcy appeared only days away. >>> the top con tes sapbts are about to hit the road. >>> the tour is going to be great. i can't wait to get out there and tour the country with my fellow comrades and having a good time out here. >> that was idol winner scotty mccareer we talking about the upcoming tour. they're scheduled to make two stops here in the bay area. the american idol tour will be at oracle arena. >>> it is an annual event, why protesters gathered outside a golf tournament and police had to be called in. >>> and i'm back here in less than 10 minutes, we're going to look at the forecast. and temperatures well they are still trending down. >>> too big for its own good. the government's investigation into google. i could use a smartphone with social apps to stay up on what my friends are doing. and it's global, so i'll know what they're doing while they're doing it, even when i travel. i'll have to act surprised when they t

saab is no longer a financially viable brand, according to this list.etailer may sell hip clothes, but it is on the verge of bankruptcy, as far as we understand it, and here's a big one, sears. its parent company sears hold some things in major trouble. after sears merged with kmart, their operations have gone downhill. the company will likely just consolidate the two brands, keeping kmart which means, yeah, guess what, sears is going to be gone. sony ericsson is on the chopping ball, falling behind apple and research in motion and other smartphone companies. now there's talk that sewny will take over the operation and maybe even rebrand. and this one, yeah, it's bittersweet, kellogg's corn pops. the push to eat healthy was bad news for corn pops. more parents are looking at the ingredients list and saying uh-uh, no way, bye-bye. remember myspace. one way, facebook. myspace is up for sale but will likely be gone. and "soap opera digest" is going the way of soap operas. the magazine is a product based on a dying industry and along with it, yeah, "digest.

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company documents show pg&e and not outside contractors installed the pipes that exploded in saab last. the "mercury news" reports pg&e first performed the work in 1966. the documents also revealedder -- numerous belting -- welding problems. the blast last year killed eight people and destroyed 38homes. >>> more shakeups at the top for muni. muni's executive director offered his resignation and will step down in one month. his announcement comes less than a week after his was was asked to resign as the director . >>> at 10:30 this morning, mayor jean quan will introduce deanna santana. she's experienced in oakland government. she's worked with the police, fire and at the city manager's office. >>> let's talk traffic. sal, what are you seeing out there right now? >> well, i'm looking at traffic that's not all that bad when it comes to accidents and stalled vehicles. we can see 880 here. it looks pretty good driving up past the coliseum. so that commute has not take hold yet. moving along and -- taking a look at the bay bridge, that has been backed up from about 6:30 or so all the way ou

the saab was a settled in this morning, we still see a little bit over the golden gate bridge, but byicely. color temperatures will skyrocket. it will continue to stay warm in tomorrow. her we could actually warm to about 90 degrees in places like sadien castro valley, same for fremont. her upper 80s in the san ramon valley. 92 expected and antioch. the south bay brings a minister of '80s and '90s. thirsty and cried-- thursday and friday will cool off. partly cloudy and we will continue with morning fog through the weekend. >> it is a slow ride on interstate on 880 beginning out of hayward and into union city, fremont. there have been a series of incidents, the most recent was a fairly minor motorcycle crash. a commuter traffic is it backed up from hayward into san leandro. oracle her >> puerto rico, as a first u.s. -- he is the first u.s. president to visit the island in 50 years. >> the aspiration and struggles on this island mirror those in america. i know that today is a lot of people are asking some of the same questions foraker from vermont and then they are asking in indiana or