For months, Frank Stronach’s Magna was about to take over GM’s Opel, until GM suddenly canceled the deal, a decision GM probably regrets several times a day. Used to reach for the stars, Frank Stronach reaches higher. Instead of ruling Opel, he now wants to rule a country.
Frank Stronach, billionaire owner of Magna, is running for chancellor of Austria. Not a big country, but it’s a start. His party is so new that it does not have a name yet, but he thinks that the party could get between 20 and 30 percent of the vote. Opinion polls show him close to 10 percent, says Reuters.
Stronach is trying to exploit growing bailout fatigue and could turn the election into a de facto vote on Austria’s future in Europe. He basically wants Austria go back to its old currency, the schilling.