Magna Gets (Permission to Invest in) Opel!

Canada’s Magna finally gets its wish. After failing to win Chrysler, they have reached an agreement in principle with GM Europe and will start to take over Opel. This is great news for the Europeans—Magna have been building cars on a contract basis for many years and actually know something about manufacturing. That’s more than I can say for either Cerberus (Chrysler’s owner) or Uncle Sam. Saturn may not die after all! More details at Reuters.