German automaker Opel is looking for a bail-out similar to the one the US Government gave our Big 3. Well, similar in that they’d get gobs of money to help offset their liquidity issues. So they submitted a business plan to the government; unfortunately, the glossy 217 page document read more like a brochure than an actual plan so the German government recommended insolvency instead.
That’s cold — even for Germany — but kudos to the government for saving taxpayers the burden of saving these chumps. Sure there are 26,000 odd Germans working for Opel but a company whose idea of a business plan is basically the automotive version of Style magazine should probably be left to its own devices.