German SolarWorld Offer for GM's Opel

[webfarmer]

How ironic would this be given GM's EV1 crushing history? Of course, why cash out when you can borrow cheap money from new sugar daddy Uncle Sam. (FWIW, I don't mind some of these bailouts as long as the U.S. taxpayer gets a fair deal. Carter's Chrysler deal worked out.)

If such a deal ever went through, I'm guessing we'd see some wicked solar plug-in hybrids with V2G technology.

Solar CEO Serious About Buying GM's Opel - CNET - 20 Nov 08

"Adam Opel, which is part of GM Europe, includes four German factories and a development center in Russelsheim, Germany. SolarWorld is prepared to offer 250 million euros in cash for them, according to Asbeck, and has bank credit lines worth 750 million euros if the German government provides a guarantee. But the company would also request additional state funds to compensate Opel's 25,000 German workers at about 40,00 euros per job, an estimated 1 billion euros.

GM, which is currently seeking a multibillion dollar bailout from the U.S. government, publicly dismissed SolarWorld's offer on Wednesday."

Comments

[desear.livejournal.com]

have you read this article?

http://www.globalresearch.ca/index.php?context=va&aid=10977

just thought it's related to this post.

;)

[webfarmer.livejournal.com]

No, I hadn't read the article. Frankly, I'm not too keen on where the economy is going but it seems to me that the chance of another Great Depression (as such) is very unlikely. Back in those days, government actions and regulations were not known. We still have a shell of that even after all the Reagan-Bush-Clinton-Bush years.

There is some concerns that countries that don't have even the residual regulation systems from the New Deal are going to be in much worse shape than the US economy. Many of those emerging countries in Eastern Europe for example.

I expect a LOT of deficit spending for the next year or two. The era of "small government" is over. Even the conservative economists know this. Now it's just a question of what kind of stimulus the government is going to give and to whom.

Hope things aren't getting too bad in your neck of the woods.

[(Anonymous)]

Funny... Ford's advertising the "all-new Flex" on your blog, Dennis :)

I had to laugh yesterday when the CEOs were asked at the congressional hearing if they flew commercial to D.C. They had all come in individual private jets. The companies cited security reasons. Riiight!

It's funny how nearly everyone's now criticizing the companies for shortsightedness and building for years what people wanted and bought. The American buyers of huge SUVs and pickups are got what they asked for. Hopefully they also bought some GM and Ford shares at the time ;)


I'd be okay with spending some money on the automobile industry (the alternative seems worse), but I do think that they need new leadership (just like we needed new leadership in DC).

Oliver

[webfarmer.livejournal.com]

Hey, LiveJournal has to make some money somehow. I guess Ford has a few bucks left to toss around on advertising. The "Flex" is a bad joke meant to deflect the criticism that they aren't on the cutting edge of the green revolution. It cost them little to make them vs. making a decent hybrid (little less a plug-in).

You need to talk to Larry about your "security" problem too.

Congress is one of the last institutions to be talking about minding the piggy bank given their recent track record. That being said, they're the only ones we have right now and so let's hope they don't screw this one up royally too.

The alternative does seem worse. That being said, this reminds me a lot of Hoover trying to keep Ford's doors open rather than doing a lot of public project spending. Both are probably needed.

The stock market continues to amaze. I'm glad I'm not on that ride.