High Stakes Opel Poker: GM Kicks In 1.9b, Wants To See 1.8b In Aid
GM throws in the towel. And throws a lot of (your, well, our) money after Opel. GM will invest a total of €1.9b into the German patient, says Das Handelsblatt today after talking to Bob Lutz. Nick Reilly confirmed the message today, and said the money can flow as paid in capital and loans from the mother-ship. It finally dawned on GM that European governments are just stringing them along until Opel runs out of money – again.
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The New, EU Compliant, Jobs-For-Money Plan. By GM

GM’s new European Viceroy, Nick Reilly, surprised and astonished the participants of a Saturday conference call by saying that German aid, or no German aid to Opel, “it won’t make any difference to our restructuring plan, so it will not lead to more layoffs in Germany or less layoffs.”

Now what’s that all about? Wasn’t the line before “you either pay us, or you pay unemployment benefits, anyway, you’ll pay?”

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Opel's Tech Center Fire-Proof

GM (probably with a little prodding from their buddies and new Chinese overlords at SAIC) realizes where the real value at Opel is: At the Opel Engineering Center in Rüsselsheim.

After yesterday’s press conference in which he had announced the ties with a stronger SAIC in China and India, Reilly spoke to 9,000 employees at Opel’s Rüsselsheim headquarters, Reuters reports.

The good news: 548 engineering jobs at the engineering center, formerly slated to be eliminated, will stay. The bad news?

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  • Dartdude The bottom line is that in the new America coming the elites don't want you and me to own cars. They are going to make building cars so expensive that the will only be for the very rich and connected. You will eat bugs and ride the bus and live in a 500sq-ft. apartment and like it. HUD wants to quit giving federal for any development for single family homes and don't be surprised that FHA aren't going to give loans for single family homes in the very near future.
  • Ravenuer The rear view of the Eldo coupe makes it look fat!
  • FreedMike This is before Cadillac styling went full scale nutty...and not particularly attractive, in my opinion.
  • JTiberius1701 Middle of April here in NE Ohio. And that can still be shaky. Also on my Fiesta ST, I use Michelin Pilot Sport A/S tires for the winter and Bridgestone Potenza for my summer tires. No issues at all.
  • TCowner We've had a 64.5 Mustang in the family for the past 40 years. It is all original, Rangoon Red coupe with 289 (one of the first instead of the 260), Rally Pac, 4-speed, factory air, every option. Always gets smiles and thumbs ups.