Jump to content
Server Move In Progress - Read More ×
News
Reviews
Discussons
Activity
Create New...
Close
  • William Maley
    William Maley

    By William Maley •

    GM and PSA Tie-Up Talks Come To Halt

    William Maley

    Staff Writer - CheersandGears.com

    November 14, 2012

    The talks between General Motors and PSA-Peugeot/Citroën have come to halt. According to Reuters, the talks were stopped due to worsening finances and a government-backed bailout.

    As we have been reporting since February, General Motors and PSA have been in talks about expanding their alliance. Rumors have ranged from 50/50 deal, selling Opel to PSA, buying up PSA's auto division, and putting Citroën, Opel, and Peugeot into one new entity.

    Sources close to talks tell Reuters the talks have been off after Peugeot agreed to take a bailout from the French Government. Peugeot/Citroën are currently burning through 160 million euros (about $200 million) a month. Taking the bailout also means PSA can't shed anymore jobs and factories, nor make any deeper ties with GM.

    "They now consider that any deeper tie-up is unlikely before 2014, when the market picks up," a source told Reuters. "The government bailout conditions rule out French job cuts, which means a deal can't happen any faster. It would be politically impossible to have all the cuts falling on the German side."

    For the time being, GM and PSA's basic agreement stands.

    Source: Reuters

    William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster.

    Related Stories:

    An Alliance Is Formed: GM Buys 7% Stake Into PSA Peugeot Citroën

    Rumorpile: Is There More To The GM-PSA Deal?

    GM and PSA Announce Four New Co-Developed Platforms

    Go to articles

    User Feedback

    Recommended Comments

    David

    We'll that sucks and will not help the long term situation of the company. Europe is going to have to come to terms with their over supply glut and close factories and shed jobs.

    Link to comment
    Share on other sites
    ZL-1

    The deal would probably be a better long-term solution than the bailout, but hey... Sh*t happens... The sad ting is that GM seems to be unable to find itself a European strategy that lasts for more than 6 months... :-/

    Link to comment
    Share on other sites
    David

    The deal would probably be a better long-term solution than the bailout, but hey... Sh*t happens... The sad ting is that GM seems to be unable to find itself a European strategy that lasts for more than 6 months... :-/

    Too true, the world has got to come to terms that the over spending social way of life is at it's end and the future generations are the today generation that has to pay for this crazy spending. You cannot have everything and not have to pay for it.

    GM needs to find a long term solution and that could mean closing down Opel and walk away and come back in with a new org and line of product. I doubt most counteries can afford to pick up and save a bleeding company now.

    Link to comment
    Share on other sites
    vonVeezelsnider

    and so dies my dreams of a captive-import Citroen C6 successor lol.

    I suspect that it doesn't play well now that the home government has gotten involved in the situation.

    Edited by vonVeezelsnider
    Link to comment
    Share on other sites


    Join the conversation

    You can post now and register later. If you have an account, sign in now to post with your account.
    Note: Your post will require moderator approval before it will be visible.

    Guest
    Add a comment...

    ×   Pasted as rich text.   Paste as plain text instead

      Only 75 emoji are allowed.

    ×   Your link has been automatically embedded.   Display as a link instead

    ×   Your previous content has been restored.   Clear editor

    ×   You cannot paste images directly. Upload or insert images from URL.

    ×

  • google-news-icon.png



  • Community Hive Community Hive

    Community Hive allows you to follow your favorite communities all in one place.

    Follow on Community Hive

  • google-news-icon.png

  • Subscribe to Cheers & Gears

    Cheers and Gears Logo

    Since 2001 we've brought you real content and honest opinions, not AI-generated stuff with no feeling or opinions influenced by the manufacturers.

    Please consider subscribing. Subscriptions can be as little as $1.75 a month, and a paid subscription drops most ads.*
     

    You can view subscription options here.

    *a very limited number of ads contain special coupon deals for our members and will show

  • Similar Content

  • Posts

    • Drew Dowdell
      Random Thoughts Thread

      By Drew Dowdell · Posted

      The two big things you need to know are How Acidic and how well it drains or not. I took a class last year on how to grow the American Chestnut. American Chestnuts like to be high on hilltops with very well-drained soils. There's a geomapping tool in Pennsylvania that uses known land and altitude data to populate the best places for Chestnut plantings, and my property is one of the best in the county.  What I used was a mix of planter soil and something called Pittmoss, better than Peatmoss. Its manufactured here and is mostly recycled newspaper. It's good for containers because it holds moisture better than peat.  Just put them in some 5-gallon buckets and let them go.  I need to move them around a bit soon. True genetic American Chestnuts are very hard to find. If you find them online, they are most likely crossbred with something else that is blight-resistant. I got my seeds directly from the Pennsylvania Chapter of the American Chestnut Foundation at one of their research centers at Penn State.
    • Drew Dowdell
      Random Thoughts Thread

      By Drew Dowdell · Posted

      They look like sticks right now, lol. Their leaves are just starting to come back. But here's what they looked like going in.
    • David
      Random Thoughts Thread

      By David · Posted

      My wife gets starter trees for landscaping, and we use 5-gallon plant buckets that have the holes already, but you could use a normal 5-gallon bucket and drill some holes and put it in a planter plate to hold water to help with feeding. We always just use miracle grow soil and the trees are doing really well. We have a bunch of Leyland Cypress trees to be planted once I finish the yard retaining wall and new fence.
    • ccap41
      Random Thoughts Thread

      By ccap41 · Posted

      Speaking of growing trees in buckets/pots, did you over-research what type of potting soil/media to use? I think I'm going down a wormhole of too much information and overthinking.  What did you end up using? 
    • ccap41
      What did you do to your ride today?

      By ccap41 · Posted

      Interesting. I'm using my work computer so I can't exactly download anything to edit them, but I'll probably just try from my phone next time. 

  • Who's Online (See full list)

  • My Clubs

×
×
  • Create New...

Hey there, we noticed you're using an ad-blocker. We're a small site that is supported by ads or subscriptions. We rely on these to pay for server costs and vehicle reviews.  Please consider whitelisting us in your ad-blocker, or if you really like what you see, you can pick up one of our subscriptions for just $1.75 a month or $15 a year. It may not seem like a lot, but it goes a long way to help support real, honest content, that isn't generated by an AI bot.

See you out there.

Drew
Editor-in-Chief

I've whitelisted
Continue without support

Write what you are looking for and press enter or click the search icon to begin your search

Change privacy settings