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GM scotches sale of Opel

Automaker’s decision to bail on deal is a big blow for Canadian-based Magna, and infuriates German government


 

This could get ugly. Not only has General Motors led Canada’s Frank Stronach down the garden path, it has incurred the wrath of the German government, most notably Chancellor Angela Merkel, who had supported Stronach’s bid for Opel, GM’s European carmaker. GM figures it can make a go of Opel on its own. But German lawmakers differ, arguing jobs are in jeopardy now that the sale of 55 per cent of Opel to Magna – Stronach’s company and Canada’s largest auto parts maker – is off the table. Berlin is now calling on GM to repay 1.5 billion euros it extended to keep Opel afloat during the sale process, a period during which a bankrupt GM was restructuring.

Bloomberg


 
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GM scotches sale of Opel

  1. Now do we need to get the Huan Rights Commission after you for the headline (scotches)?

    All kidding aside, you could find a better word.

    • Definition & etymology of Scotch, as used in this context:

      Definition: to put an end to; stifle; stamp out ; to scotch a rumor

      Etymology: ME scocchen, prob. < Anglo-Fr escocher < OFr coche, a notch, nick < VL *cocca, knob at the end of a spindle (later, groove below this knob) < L coccum, berry < Gr kokkos

      • Perfectly accurate definitions and reasonable to assume that the use of the word Scotches would not raise the ire of anyone. Hoever, Human Rights Commissions don't deal in reasonable.

      • Reminds me of how I was once rebuked for using "scot-free" in a translation of a Roman poem; but likewise "scot" has nothing to do with "the Scots" — it's apparently from Old Norse "skot" > shot, "contribution."

        • Are you sure? I think it might be derived from "scuit", Latinised Gaelic for (roughly) "those who are cut off"–a word the Romans applied to the Irish raiders who marauded over and finally settled on the West coast of what is now Scotland and who–along with the Picts–embodied the Romans' Caledonian nemeses.

    • It could have been worse:

      "GM Gyps Magna, Welshes on Opel Deal"

      • very good,

        I thought it refers to the Scots, but John K raises a point that perhaps it is an unfortuante coincidence in that it is deriving from scratching….as in you would scratch or cross off something on a piece of paper that you no longer wanted.

        • I have to admit I'd never seen the word used thusly before now.

  2. GM had better not need another bail out anytime soon for OPEL. They wont get it. After their little exercise in double dealing they will have trouble finding partners to take them seriously and Europeans willing to buy their cars (especially since there are so many better ones to choose from).

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