Oh dear

Madelson\’s just approved something of a hostage to fortune.

The sale of General Motors\’ European operations to car parts giant Magna, backed by the Russian Sberbank, has left the Vauxhall workforce concerned that the Ellesmere Port and Luton plants will close.

In fact, it\’s rather odd that the paper doesn\’t mention this. Magna/Sberbank actually also includes Gaz, the car company owned by Oleg Deripaska. And there\’s a very real fear that he\’s going to try and strip GM Europe of intellectual, if not other, property.

Oleg, of course, has hosted Mandy on his yacht.

5 comments on “Oh dear

  1. I *think* he means “sensibly share GM Europe’s designs with its other subsidiaries in lower-cost economies, but that doesn’t sound Mandy-bashing enough, so let’s pretend it’s a bad thing”.

  2. GAZ’s ownership of LDV has not been a happy one for UK workers. GAZ claims it does not have the money to maintain LDV, but it can find the resources to create a factory building the LDV Maxus in Russia. GM Europe should expect the same treatment.

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