The arrogance of GM

GM is a basket case. It produces vehicles that hardly any one wants. It moves at a glacial pace to be innovative and it's finances are so far into the toilet that the government needed to bail them out.

Hand's up all those who expect to ever see a single cent of the $10 billion, given by our lawmakers, returned to Canadian taxpayers in the next -- oh say-- ten years.

No one willing to take a guess? Well,. you are right. The answer is zero or negative 200. We will never see that money again.

As part of its "restructuring" plan, GM sold its OPEL division to Magna, a Canadian company owned by Belinda Stronach's dad. The deal helped justify the government's bailouts.

Magna stepped up to the plate and is planning to invest in OPEL, raise its product, profile and markets and make it a success story. The deal was good for GM, good for Magna and good for OPEL.

Now... GM is showing that it is still as arrogant as ever. They are demanding that they have the right to take back OPEL when they are back on their feet again. To hell with Magna. To hell with the increased value of OPEL. GM's making demands and, damn it, you better listen!

Piss off, GM. You will have the right to declare that you are back on your feet AFTER you have paid back every cent given to you by Canadians. And not a minute before.

And if you want to buy back OPEL, you do it at market rates and at the price demanded by Magna... not some arbitrary number you want to put on it.

The arrogance.