GM or Gimme More

Seems that GM has upped the ante in Europe. In Spain and elsewhere the bet has been that GM would release its hold on Opel and allow some potential buyers to come in and save the European partner. All seemed ready to go until at the last minute GM suddenly asked for another 300 million dollars to let any deals go through.

[googlemap lat="41.65635" lng="-0.876566" width="300px" height="150px" zoom="9" type="G_NORMAL_MAP"]España[/googlemap]

In Zaragoza, where they make several models of Opel, the euphoria has come to a halt.  What was celebration yesterday has become consternation today. Here it is just wait and see, and hope that the EU will step in and put up the money needed to keep Opel in business.

At stake are thousands of jobs in Zaragoza and other parts of Europe. This was not the time for GM to up the ante in a game where the stakes are the livelihoods and well-being of thousands of families across Europe.