22 February 2012

Can't Everyone See What is Happening Here?

Per the NY Times this morning...

Peugeot Citron is possibly going to be bought by GM.
The Times (in the above article), as well as in a couple of smaller sources that I have seen this morning mention that the French and German governments won't be eager to see plants shut down to trim costs. 

Last I checked the EU was all about belt tightening and "austerity"?  An those layoffs are coming from a GM owned company anyway, Opal is losing a ton of money!  And GM is coming off of record profits.  My crystal ball thinks this deal will be done by the end of the day. 

Either way the winners will be the shareholders of both companies.  The losers will be a small number of the rulers of P.C. and well the workers of course.  But the European workers need to get used to losing, often and hard.  Austerity seems to be the chosen path that will save capitalism from itself this time.