“The other solution is one where I can only say this is something that isn’t playing a role in the negotiations so far.” In other words, Economy Minister Karl-Theodor zu Guttenberg ain’t gonna let GM keep Opel. “Germany, which has provided 1.5 billion euros ($2.2 billion) in loans to keep Opel afloat,” Bloomberg reports, in a common-laden style that just begs to be interrupted by attribution, “is pushing GM to accept a bid by a group led by Magna International Inc. Advisers to the U.S. carmaker, which failed to decide on a buyer for Opel at a meeting last month, have recommended the board consider seeking aid from other European governments to retain ownership of Opel, a person familiar with the discussion has said.” Sure, other EU members will rush-in to help GM keep Opel; they’re dying to piss-off the Germans to prop-up the nationalized automaker’s foreign empire. GM’s take?
Reuters reports GM has decided not to sell Opel to Magna/Russia, but won’t name equity boys RHJ International as the winners until after the German election—so as not to embarrass Chancellor Angela Merkel before the German elections (September 27).
Meanwhile, Merkel is busy talking-up the Magna bid. But that might just be her pre-election public stance. Reuters says GM’s board of directors will teleconference today to discuss the future of Opel. Why, God alone knows. Choosing a winner between RHJ, Magna and themselves before the end of the month would be beyond imbecilic.
I wanna have what they are smoking. The fumes seems intoxicating…
I smell some kind of political decision is behind this, on the German side.
If so, GM is screwed. Unless, they find some political leverage to turn the balance.
Or bring the cash to the table.
As they want the deal… it’s not gonna happen.
And they continue to make time…
Umm, Opel’s lucky number is seven, maybe?
Those models are diving to get away from that thing.
I sure as heck hope they are playing Robert Palmer in the background here:
Borgward, 1961. Kaput.
Opel, 2010. Kaput.
This is a new German car program called “Chicks for Clunkers”. Trade your in old car for an Opel
and they give you seven virgins. They don’t have any money to feed them so the girls have passed out.
So unless GM can pony up the 1.5 billion EUR in September, Opel goes into bankruptcy?
This is a rational attempt by GM to not lose its engineering capability…
It appears that Mr. Powers has been touching himself again.
“So unless GM can pony up the 1.5 billion EUR in September, Opel goes into bankruptcy?”
I take it as, if GM can’t pony up that money, the German Government will make Opel Someone Elses Problem. Like, make GM repay the loans and take Opel back. Or let Magna have Opel and let the loans be Magnas problems. I don’t think they will let GM default on those loans, and then have GM letting Opel slide into liquidation. If GM can’t pay, the government will give Opel over.
GM can pay the full Monty or go home.
Robbie wrote:
This is a rational attempt by GM to not lose its engineering capability…
Perhaps, but what was irrational was not putting Opel in the “essential–must keep” column back when the survival plan was being drafted.
Well after seeing that picture I’ve finally decided that the chicks at the Chinese and Japanese auto shows don’t look that dumb. Heck even the Asian “Drift Girl” models don’t look ridiculous compared to that picture.
Maybe GM will again be forced to actually engineer their own cars. If you cannot do that basic skill maybe GM should not be in the car making business.
Is that a combined effort to sell cars and harems to mid-east sheiks?
The phase “drop dead gorgeous” has really moved down market…
Whoohoo!
Uh oh, wait a minute…oh my God, GM killed those girls!
To dgduris: Thank you for the reference to the Robert Palmer songs. I had never really appreciated those videos for their.. “artistic talent.”
2009-1986 = 23 years. I wonder how some of those ladies have been holding up…