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

[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.