Opel has received a new lease on life. Nobody knows how long the lease will last, but Opel is an important step ahead and gained an even more important ally in its beggathon for state aid. Opel cut a deal with its unions, led by labor leader Klaus Franz.

“For much of the past year, Klaus Franz has been a thorn in General Motors Co.’s side,” wrote the Wall Street Journal. Franz “has blamed the European car unit’s troubles on its American parent, saying GM was ‘filled with yes-men’ and that it had a ‘centralized planning system worse than in East Germany.’ Now, GM needs to make nice with Mr. Franz.” With their backs to the wall, GM finally paid the price and made nice. (Read More…)

China’s vice-president Xi Jinping (above) is packing his bags for a state visit to Sweden, where he and his entourage will arrive this Saturday. He doesn’t go there to watch pretty blondes. (He doesn’t fancy blondes, see picture below.) Xi Jinping wants to come back to Beijing with a Swedish souvenir: A signed contract between Ford and Geely that will seal the sale of Volvo. (Read More…)