Germany says No

The German Government has knocked back a request from GM to rescue Opel earlier this year.

Reading the following article one can understand why this is a good thing.

1) GM (the owner of Opel) has registered a profit worldwide of $865M signalling a rebound in profitability yet it still applied for financial aid from Europe
2) GM was involved in sale discussions to a Canadian Consortium but did not follow through late last year
3) By rejecting the aid, the US would effectively need to fund the Opel Rescue.

And ... of course... it's not a Porsche, just an Opel!!!

What's Up Jono? www.whatsupjono.com
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