Comments on: GM seeking Russian production deal with Magna, GAZ

By: JakeK66

JakeK66 — Mon, 09 Nov 2009 17:20:17 +0000

@ Borat – I still agree what GM did though, I think they had to stop the sale, and how they did it is fine with me…

On the other governments and unions getting mad – look – GM is GM. It’s a company looking out for their best interest – not a country looking out for it’s people. Somehow some of these Europeans have it in their heads that a company reports to everyone who works for them – and that’s their culture. GM, though, is looking for what’s best for the company to survive – keeping Opel is one thing they felt would keep GM around. The Germans were just looking out for their best interest and that was Magna asuring them of little job losses in their country – now GM has a less interest in just Germany, so they will have job losses more evenly and that means less German jobs.

On Russian industry concearns – look, GM is giving you a consolation prize – take it if you want it, or don’t.

By: carstuff

carstuff — Mon, 09 Nov 2009 16:17:08 +0000

Decision was made by GM board, not white house. Unless of course you have some kind of proof?

By: johnnycanuck

johnnycanuck — Mon, 09 Nov 2009 15:53:00 +0000

ajm, did you read the article in the Globe & Mail on Frank Stronach last week. It pretty much echoes your evaluation… sometimes these things work and sometimes they don’t. There’s no reason to take it personally.

The article also went on to say that Opel’s unions are severely pissed over GM’s decision. Then again this is GM we’re talking about, so somebody must have their panties in a bunch.

By: Borat

Borat — Mon, 09 Nov 2009 15:51:58 +0000

Nope, we “conversed” on the post of why the deal fell through. My statement was that Deripaska (owner of VAZ and Sperbank and the majority owner of takeover alliance) is either gangster from within or outside Kremlin walls (Mr. Putin statement places him into inside the walls).

By: ajm11

ajm11 — Mon, 09 Nov 2009 15:23:33 +0000

Borat – Did Jake66 comment on this? If he did, what happened to his post.

By: Borat

Borat — Mon, 09 Nov 2009 14:53:49 +0000

@Jake66, as I noted before, Kremlin isn’t pleased with break up of a deal. I think, it was not GM decision, since GM (like any whore) gladly jump into sack with anyone. Putin missed the point, that GM is government run entity just like Volga (was!) and corporate decisions are made in our Kremlin, ughm, White House. Heck, GM would sell everything to Iran and Korea and not even for the right amount of money.

By: ajm11

ajm11 — Mon, 09 Nov 2009 14:46:01 +0000

@ Armstealer – Frank Stronach knows better than to start doing that. He may not be happy about being shut out of the Opel deal, but business is business. Any one in any industry can tell you that. You don’t start burning bridges just because you didn’t get what you want. I am pretty sure that Magna still receives a lot of revenue from GM. If they start producing sub quality parts for GM that revenue will go away.

By: Need more oil for GM

Need more oil for GM — Mon, 09 Nov 2009 14:42:14 +0000

Magna would be smart to take the deal. It is beeter to be on the side of General motors and the one that will be in its wake. The American Revolution is kicking a$$ and taking names!

Be American. buy American. It is unpatriotic to buy Toyota or any other import

By: armstealer

armstealer — Mon, 09 Nov 2009 14:14:31 +0000

I’m sure the parts Magna supplies GM will be designed and built with the utmost care and consideration from now on…
Note to self: stay away!