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Merkel ally raises doubts over Magna's Opel bid

autonews.com/article/20090827/COPY01/308279963

Not to get lost in the details, but GM happens to already own Opel. And though selling Opel would help infuse a modicum of cash into its balance sheet for the short term, it would be at the expense of a considerable portion of any future it hopes to have. If there was EVER a time for GM to make the investment in retaining a key division like Opel, now is that time, when all conventional metrics have become meaningless.

Simply "spinning" Opel is precisely the kind of short sighted impulse to satisfy immediate gratification responsible to a considerable degree for GM's present circumstances.

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