GM sells European brands to France's Peugeot
I don't follow automakers closely, but didn't see that coming, evidently I should have.
GM sells European brands to France's Peugeot - CBS News
PARIS - General Motors (GM) is selling its unprofitable European car business to the French maker of Peugeot, marking the American company’s retreat from a major market and raising concerns of job cuts in the region.
With the 2.2 billion euro ($2.33 billion) deal announced Monday, GM is giving up brands - Opel in Germany and Vauxhall in Britain - that have given it a foothold in the world’s third-largest auto market since the 1920s. They have not, however, made a combined profit in 18 years despite multiple turnaround efforts.
No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57
Target AA: 40% equity funds / 35% bond funds / 25% cash
Target WR: Approx 2.5% Approx 20% SI (secure income, SS only)