Author: Serkadis

  • Cary couple brings pet grooming to your home

    John and Pam Plyler have both found success in the corporate world.

    But especially in light of the recent roller coaster ride of the American economy, the Cary couple knows that nothing is certain – and they couldn’t count on their corporate careers sustaining them forever.

    “We’re both very satisfied in our current corporate jobs, but we both know we don’t want to be doing this until we’re 65,” John Plyler said. “We wanted to expand our horizons a little bit. When you own a business, you do everything.”

    So in late 2007, the Plylers decided to diversify. They approached a consultant for help launching a business that could earn them a measure of financial security and perhaps an early retirement.

    Both of them love animals. Both love customer service. So they settled on a business that would combine their affinity for pets with their business skills: a mobile pet grooming business.

    Fortunately, the Plylers didn’t have to reinvent the wheel. Aussie Pet Mobile, created in 1996 in Sydney, Australia, already had a business model that worked: friendly, personable groomers who come to your door in customized vans and offer full-service pet grooming right at your doorstep.

    In December 2007, the Plylers opened up the newest Chicago-area franchise of Aussie Pet Mobile. At first, business was slow, but over the years they have built a loyal customer base, mainly through referrals and a marketing campaign that stressed the personal touch they provide.

    “It’s comparable to when doctors used to make house calls,” said Loraine Wilder, the first groomer the Plylers hired. “We give (pet owners) a full report. It gives them a comfort level they don’t get when they go into a shop. That makes us unique compared to everyone else out there.”

    Along the way, the husband and wife team expanded the area they serve, added a second van and hired three trained groomers to handle the growing number of appointments.

    Now, their service area stretches from Huntley in the west to Long Grove in the east and from Woodstock in the north to Dundee Township in the south.

    “The higher quality of care you provide for your dog minimizes health issues, improves the quality of their lives,” Pam says. “The customers that use our service – once they use us once and the feel the difference in quality, they say I will never go back to a groom shop.”

    Still, John says they’re not where they wanted to be by now. Times are tough, and people have cut back on luxuries like pet grooming.

    But the Plylers see growth in their future. They hope to get a third van soon. Eventually, they’d like to double the geographic territory they cover and earn enough to replace one of their incomes.

    For now, they’re enjoying the personal relationships they’ve made with their customers and groomers and the satisfaction of earning money from something they love.

    “They’re very passionate about animals,” Wilder said of her employers. “They love the business. They love what they’re doing.”

    To schedule an appointment with a local groomer, call 1-800-PETMOBILE or visit aussiepetmobile.com.

    Read the original article on DailyHerald.com.

    Distributed via Chicago Press Release Services


  • Woman convicted in case of stolen Antoinette watch

    LOS ANGELES — The widow of a notorious Israeli thief has been convicted of receiving stolen property from a 27-year-old heist that included more than 100 expensive timepieces and museum artifacts, including what’s been called “the Mona Lisa of the clock world.”

    Nili Shamrat, 64, of Tarzana, was convicted Feb. 23 and sentenced to five years’ probation and 300 hours of community service, state Insurance Commissioner Steve Poizner announced Tuesday.

    In 1983, 106 timepieces, paintings and artifacts were taken from the L.A. Mayer Museum for Islamic Art in Jerusalem. It was hailed as the costliest theft in Israeli history and included a pocket watch made by famed watchmaker Abraham-Louis Breguet for French queen Marie Antoinette that museum officials valued at more than $30 million.

    There was a hefty insurance settlement and the case went unsolved for nearly two decades.

    Detectives say the theft was committed by Naaman Diller, and he was caught because of his deathbed confession and will, which left everything to Shamrat after he died in 2004.

    Diller and Shamrat met in 1970. They lost contact in 1972 when he went to prison and she came to the United States to study, but they reunited a few years after the theft and were married in 2003, said Capt. Randall Richardson of the California Department of Insurance.

    Los Angeles lawyer Jeff Rubenstein, who represented Shamrat in the Los Angeles County case, said his client was “a misguided victim.”

    “It was her ex-husband’s deathbed actions that placed her in this position,” Rubenstein said. “Her accepting responsibility for her small part is hardly the insurance commissioner cracking an international case.”

    Shamrat has no comment now and wants to go about her simple, private life, Rubenstein said.

    The big break in the case, Richardson said, came in 2006 when an appraiser told the museum he had been contacted by an attorney about 40 of the stolen clocks.

    The attorney wanted $2 million for the clocks — the amount of the reward offered in the case — but that was negotiated down to $35,000, and the first of the stolen items, including the Antoinette watch, were returned to the museum. That batch of recovered items also included a Breguet design from 1819 known as the “Sympathiques” and a clock shaped like a pistol from the same period.

    Detectives then followed a paper trail, Richardson said, that led to safe deposit boxes and storage units in France, the Netherlands and Israel. Some items were found in Shamrat’s home when a search warrant was served there.

    “She had all his documents and some of the stolen items, as well as display placards from the museum,” Richardson said.

    So far, 96 of the 106 stolen items have been recovered.

    Although the stolen clocks had no connection to Islamic culture, they were displayed at the museum because they originally belonged to Sir David Lionel Salomons, the father of the museum’s founder and the man who became London’s first Jewish mayor in 1855.

    There was no immediate comment about Shamrat’s plea agreement from the museum, which was closed when the announcement was made.

    Diller’s notoriety followed a string of bold thefts in the 1960s and ’70s. He was renowned in Israel for daring break-ins and an ability to keep one step ahead of the law. He meticulously researched sites for hours and used innovative techniques that earned him the admiration of the same people who were trying to stop him.

    Investigators used words like legendary and unique to describe him, and one detective said he was disappointed they were unable to sit and talk to him about his exploits.

    On April 15, 1983, knowing the museum’s alarm was broken and the guard was stationed in the front, Diller used a crowbar to bend the bars on a back window, according to police reports. Behind a parked truck, he climbed inside with a ladder and was able to slither in and out of the opening throughout the night. Most of the timepieces were small enough to get through the hole, and if they weren’t, he knew how to take them apart, police said.

    Read the original article on DailyHerald.com.

    Distributed via Chicago Press Release Services


  • Video: Bentley Continental Supersports Convertible in Action (w/ updated high-res gallery)

    Do we really have to introduce this one to you, because by now you’re probably already watching the video. Either way, if we must, here is a video of the new Bentley Continental Supersports Convertible in Action… enjoy.

    Check out pricing on the 2010 Bentley Continental Supersports Coupe.

    Click through for the video.

    Refresher: Power for the Bentley Continental Supersports Convertible comes from a 6.0L W12 twin-turbocharged engine producing 621-hp with a maximum torque of 590 lb-ft. Mated to ZF 6-speed Quickshift automatic gearbox, the Continental Supersports Convertible goes from 0-60 mph in 3.9 seconds with a top speed of 202 mph. The Continental Supersports Convertible is flex-fuel capable, meaning it can run on either gasoline or E85 ethanol.

    2011 Bentley Continental Supersports Convertible:

    2011 Bentley Continental Supersports Convertible in Action:

    2011 Bentley Continental Supersports Convertible:

    – By: Kap Shah


  • Germany Says It Welcomes Greek Austerity Plan But There Still Won’t Be A Bailout

    angela merkel

    Greek Prime Minister George Papandreou is set to meet with Chancellor Angela Merkel in Berlin on Friday. But the Germans are making it very clear that the meeting won’t produce an aid package.

    Today a spokesman for the governent said that Germany welcomed Greece’s new austerity plan but also added that the point of austerity was restoring market confidence not securing a bailout.

    Meanwhile, Greek officials continue to lobby Germany for a bailout. Yesterday Greece’s parliamentary president ran an ad in Germany’s Stern Weekly asking for “solidarity” and “understanding.” He went on to say that “Greece needs to defend itself against “international speculators.”

    The Germans still seem to be going in the opposite direction.

    Here’s the story from the AP:

    German Chancellor Angela Merkel held an extraordinary meeting with top level ministers to discuss the Greek debt crisis, according to national media Wednesday.

    Dailies Bild and Handelsblatt reported Merkel held late evening talks on Tuesday with Foreign Minister Guido Westerwelle, Economy Minister Rainer Bruederle and Deputy Finance Minister Joerg Asmussen.

    A spokesman for the chancellery wouldn’t deny or confirm the meeting took place, saying details might be announced at a regular government press conference later in the day. He was speaking on condition of anonymity in line with government policy.

    Meanwhile, in an open letter to appear in the Stern weekly, Greece’s parliamentary president Philippos Petsalnikos urged Germans for some empathy for his nation, which has taken drastic measures to cut spending in an effort to lift it from a financial crisis that has been felt by its European partners using the euro.

    “It is not your money, but your solidarity and your understanding that Greece needs to defend itself against attacks from international speculators,” Petsalnikos wrote in comments released Wednesday.

    Greece has been the target of scathing front page headlines in German media, accusing the southern nation of “busting” the euro, or “swindling” its 15 partner nations that use the euro.

    Merkel and her government have insisted that Greece needs to solve its own problems and refused to openly discuss the possibility of a bailout.

    Join the conversation about this story »

    See Also:

  • My, what a brutal concept you have!

    American McGee will be pitching a new game at GDC 2010 next week, and believe or not, the star of the game will be Little Red Riding Hood. Make no mistake, this isn’t going to be a

  • ADP: January Job Losses Were Actually TRIPLE What We Thought, And No, We Won’t Blame The Snowicane

    ADP’s employment report showed 20,000 jobs lost in February, which was in-line with analyst expectations. Thing is, they revised down their January number by a huge margin — to -60,000 from -22,000.

    ADP:

    Nonfarm private employment decreased 20,000 from January to February 2010 on a seasonally adjusted basis, according to the ADP National Employment Report®. The estimated change of employment from December 2009 to January 2010 was revised down, from a decline of 22,000 to a decline of 60,000. The February employment decline was the smallest since employment began falling in February of 2008.

    Chart

    Apparently, weather doesn’t mess up ADP’s data the way it does for the government’s:

    Two large blizzards smothered parts of the east coast during the reference period for the BLS establishment survey. The adverse weather had only a very small effect on today’s ADP Report due to the methodology used to construct it. However, the adverse weather is widely expected to depress the BLS estimate of the monthly change in employment for February, but boost it for March. Therefore, it would not be unreasonable to expect the BLS estimate for February (due out this Friday) to be less than today’s ADP Report even though the BLS estimate will include the hiring of temporary Census workers not captured in the ADP Report.

    Read the official release here >

    Join the conversation about this story »

    See Also:

  • Report: No M version of the 1-Series… but you can expect a 135is

    Within the past two months, you’ve read headlines like these:

    All those probably have those that love mini high-performance coupes shaking in their boots – but unfortunately, it ain’t gonna happen.

    According a source that spoke with Inside Line at the 2010 Geneva Motor Show, BMW has no plans to produce an M version of the 1-Series.

    “If we do something, it’ll be a 135is like we’ve done with the Z4 and the 3 Series,” the source said.

    That means you can keep your hopes up for the 320-hp 3.0L twin-turbo N54 inline-6 engine making it under the hood of something called the 135is… and hell yes we’ll settle for that.

    – By: Omar Rana

    Source: Straightline


  • Louis Vuitton Sues Hyundai Over A Louis Vuitton Basketball

    Yesterday, I saw that Marty Schwimmer had posted a link to a Hyundai commercial asking if anyone saw the “lawsuit” in the commercial:




    It took me a second viewing before I spotted it. The commercial itself plays on the idea of “what if everyone could experience luxury items” showing various examples of “luxury” items being used in more everyday settings: yachts in driveways, cops eating caviar and… some guys shooting hoops with a “luxury” basketball using the typical Louis Vuitton markings that you see on LV purses/handbags/etc.

    Louis Vuitton is notoriously (and ridiculously) aggressive when it comes to trademark infringement. A couple years back we wrote about LVMH (parent company of Louis Vuitton) suing a Darfur fundraiser for creating a t-shirt of a Darfur victim “pimped out” to look like Paris Hilton, including a designer handbag with symbols made to look like the LV symbols.

    So, yes, that’s exactly what this lawsuit is about. DSchneider points us to the Consumerist’s article laying out the details and I’ve embedded the lawsuit filing below:


    Frankly, this lawsuit is ridiculous. LVMH is claiming that people might be confused? In what world? Seriously. In what world is anyone going to view the Hyundai commercial and think that it implies any kind of LVMH endorsement of Hyundai. It’s a joke — and any moron in a hurry knows that the LV basketball isn’t a sign that LVMH is working with or endorsing Hyundai.

    Permalink | Comments | Email This Story





  • Famitsu to reveal new strategy-RPG game next week

    Famitsu has announced that their next week’s issue will carry news about a new strategy-RPG game to add to a popular series. If you loved Disgaea, FF Tactics, and many others in the genre, that’s definitely something

  • Video: Hennessey gives Lincoln MKS EcoBoost 435-hp, calls it MaxBoost 435

    We recently test-drove the 2010 Lincoln MKS EcoBoost and realized that high-performance can be totally economical in terms of fuel-efficeiny. Well, what happens when you throw fuel-efficiency out the window and just focus on high-performance?

    Click here to price the 2010 Lincoln MKS EcoBoost.

    The folks at Hennessey Performance have gotten their hands on the new Lincoln MKS EcoBoost and strapped on a couple of modifications to the 355-hp 3.5L V6 twin-turbocharged EcoBoost unit. Their upgrades resulted in a horsepower increase to 435-hp with a maximum torque of 405 lb-ft. That allows the Hennessey MaxBoost 435 (that’s what they call it) to go from 0-60 mph in 4.5 seconds and to run the 1/4 mile in 13 seconds at 106 mph.

    Click here to read our review of the 2010 Lincoln MKS EcoBoost.

    Check out a video of the quarter-mile run after the jump.

    Hennessey MaxBoost 435 (2010 Lincoln MKS EcoBoost):

    Power:
    • 435 bhp @ 5,400 rpm
    • 405 lb-ft torque @ 3,000 rpm

    Performance:
    • 0 – 60 mph: 4.5 sec.
    • 1/4 mile: 13.0 @ 106 mph

    MaxBoost 435 Upgrade for the Lincoln MKS Includes:
    • Hennessey Dual Cold Air Induction System
    • Hennessey Polished Intercooler Piping Upgrade
    • Engine Management Software Upgrade
    • CORSA Stainless Steel Cat-Back Exhaust System
    • Serial Numbered Dash & Engine Plaques
    • Exterior MaxBoost 435 Badges
    • Exterior Hennessey Badge (chrome or black)
    • Hennessey Embroidered Headrests
    • All Necessary Gaskets & Fluids
    • Professional Installation
    • Dyno Testing & Calibration
    • 1 Year / 12,000 Mile Warranty

    – By: Omar Rana


  • Blago tells NU students he’s still innocent

    (Former Gov. Rod Blagojevich leaves Northwestern University’s Cahn Auditorium Tuesday evening)

    EVANSTON, Ill. (CBS) ― Ethics in politics was the subject of discussion at Northwestern University Tuesday night, and the headliner? Why, who else but ousted Gov. Rod Blagojevich?

    The indicted former governor returned to speak at his alma mater for the discussion, “Ethics in Politics: An Evening with Former Governor Rod Blagojevich,” at the invitation of the College Democrats.

    “Sometimes in life, you get your ass kicked,” Blagojevich said. “The question is, do you just sit back and cry and whine at yourself in self pity, or do you have what it takes to fight back, especially if you’re in the right?”

    Blagojevich told his side of the story once again at the event. But it sounded like the students had difficulty believing his troubles weren’t self-inflicted.

    Blagojevich is scheduled to go on trial this summer on federal corruption charges. He is charged with substantive racketeering, attempted extortion of a U.S. Congressman, bribery of Children’s Memorial Hospital and a racetrack executive, and other charges, mostly related to his alleged attempt to sell President Barack Obama’s U.S. Senate seat.

    (© MMX, CBS Broadcasting Inc. All Rights Reserved.)

    Read the original article from WBBM News Radio.

    Distributed via Chicago Press Release Services


  • Euro Whipsawed As Traders Realize Europe May Still Not Bail Out Greece After Budget Cuts

    Greece just announced cuts of $6.6 billion from its budget. Victory, right!

    Not so fast.

    If this was all it took to get a bailout from the rest of Europe, then why is the country’s prime minister making not-so-veiled threats to the EU via the media. In this case, Reuters reports that Greek Prime Minister George Papandreou told his fellow Greek leaders that if there is no bailout, then Greece will have to go to the IMF.

    In other words: If you don’t bail us out, Angela Merkel, we’re going to turn the EU into a developing-world basket case.

    chartMaybe that explains the wild action in euro-land this morning.

    Join the conversation about this story »

    See Also:

  • Video: Koenigsegg Agera promotional video with CGI action

    Celebrating 15 years of producing supercars, Koenigsegg came to the 2010 Geneva Motors how with its latest creation known as the Agera. The Swedish company has released a promotional video of the Koenigsegg Agera, giving us a quick brief of what its all about.

    Check out our original post on the Koenigsegg Agera here.

    Click here to watch more videos at egmCarTech videos.

    Hit the jump for the video.

    Refresher: Power for the Koenigsegg Agera comes from the same 4.7L V8 as the CCX. The engine has been twin-turbocharged to produce a total of 910-hp with a maximum torque of 737 lb-ft. That will allow the Agera to go from 0-62 mph in 3.1 seconds with a top speed of more than 240 mph.

    Koenigsegg Agera:

    Koenigsegg Agera Promotional Video:

    Koenigsegg Agera:

    – By: Kap Shah


  • Cook County Board pays tribute to long-time member Carl Hansen

    The Cook County Board paid tribute Tuesday to the late Carl Hansen, who died Feb. 2 after serving 32 years as a county commissioner from Mount Prospect.

    “Carl represented what was best in representative government,” said Commissioner Peter Silvestri of Elmwood Park.

    “He was a voice for the suburbs at a time when the suburbs were developing,” Evanston Democratic Commissioner Larry Suffredin said, “and without that voice the suburbs would have been very different.”

    “He was the glue that held the Northwest suburbs together,” added Bartlett Republican Commissioner Timothy Schneider, who replaced Hansen as 15th District commissioner.

    He called Hansen “a fiscal conservative” and “a taxpayer watchdog” and announced that he’ll present a proposal at the Forest Preserve Board meeting Wednesday to dedicate a portion of the Poplar Creek Forest Preserve near Hoffman Estates to Hansen, after Hansen had worked to prevent that area from being used as a landfill during his term in office.

    Hansen, a commissioner from 1974 to 2006, was the second-longest serving county board member after the late board President John Stroger.

    Read the original article on DailyHerald.com.

    Distributed via Chicago Press Release Services


  • Goldman Sachs And JP Morgan Storage Investments Signal A Commodities Slump

    Gold Vault

    Being long commodities may all well and good, given China et al., but it usually pays to follow what brokers do, not what they say:

    Alphaville:

    As piles of base metals from aluminium to nickel build up due to poor demand, Goldman Sachs and JPMorgan have entered the little known but very profitable business of metal warehousing.

    The deals reflect banks’ appetite for exposure to physical commodities beyond traditional commodities derivatives. Stockpiles at London Metal Exchange’s registered depots surge to an all-time high of 6m tonnes – up from 1m in 2007. Traders and bankers say warehousing is a classic “anti-cyclical” business as it flourishes when demand for metals is lackluster and stockpiles mount.

    The move follows on from Goldman Sachs, which last week bought Metro International, the operator of a global network of London Metal Exchange-approved warehouses, for a princely sum of $550m.

    Let’s just say there are many ways to make money off of commodities, for a range of market scenarios, rather than owning the physical assets.

    Join the conversation about this story »

    See Also:

  • TouchPro2 finally getting an Official Sense 2.5 from VZW

    image For months now the TouchPro2 world has been trapped using the HD2’s version of Sense 2.5, but that will all change soon. Verizon Wireless is reportedly working on a TouchPro2 version of Sense 2.5, and it is said to be available soon.

    This news is coming from a ppcgeek thread where a test ROM was made available to employees for testing.

    brent372 from ppcgeek had this to say about it.

    Recently posted for internal testing…
    A new 6.5 (sorry to say not 6.5.3) VZW ROM – the big surprise was Sense 2.5

    Before you ask… NO – I cannot send you the ROM – I like my job way too much to jeapordize it – please don’t bother asking.

    Screenshots below show the phone exactly after the ROM flash.
    The only thing installed was SOTI Pocket Controller for screen caps.
    The only other thing done to this phone was connect it to my WiFi, as this is a test device, and is not active.
    Screenshots have been reduced in size by 50%

    One thing I did note – most of the green highlights have been replaced by gray.
    There are no PROGRAMS, E-READER, DOCUMENTS, or FOOTPRINTS tabs

     

    It is plain to see this was stripped down so it could work quite speedy on the 528mhz processor on the Touch Pro2.

    What do you guys think? will you use it with its speed but lack of big new tabs?

    Via:MobileOSNewsimage

  • Land Rover working on replacement for Defender for 2014

    Land Rover is pretty busy turning out its new model – the LRX, due out sometime early next year. According to insiders, the Tata Motors owner company has also started work on its replacement to the 62-year-old iconic Defender. Known internally as Project Icon, Tata Motors has signed off funding for a complete redesign and reengineering of the model.

    Sources say that Project Icon should be in Land Rover’s product cycle by 2014.

    Click here to get prices on the 2010 Land Rover LR2.

    Currently, designers and engineers are working out the kinks and executives are trying to figure out where to position the car. Insiders say that Land Rover’s Electric Rear Axle Drive (ERAD) technology could make production in Project Icon.

    – By: Kap Shah

    Source: AutoCar


  • Microsoft signs up for Navizon WIFI triangulation for Windows Phones

    pub Navizon today announced that the company has signed a licensing agreement with Microsoft Corp., under which Microsoft will use Navizon’s global WIFI location database to provide an enhanced experience to its mobile users.

    "This agreement with Microsoft validates the power of Navizon’s crowd-sourcing technology," said Cyril Houri, founder and CEO of Navizon, Inc. “We are excited to see Microsoft join our fast-growing list of customers who have chosen Navizon for geo-positioning”.

    Navizon, a software-only hybrid wireless positioning system, helps users navigate in most major cities across the globe. Navizon works by triangulating signals broadcasted from Wi-Fi access points and cellular towers, and the company’s software is now embedded in numerous smartphone applications which are fast becoming essential tools for the modern urban lifestyle. Navizon’s diverse user community of more than 1 million users is spread across various platforms and carriers. Through rapid expansion in numbers, the community of users is able to constantly improve the precision and success rates of its wireless geolocation system.

    Apple uses a similar system called Skyhook Wireless for geo-location.

    While this service will likely be used primarily for more accurate local searches without needing to use power-hungry GPS, the software will also benefit users of Microsoft’s My Phone service when trying to locate a lost phone.

    Read more about Navizon here.

    Via BusinessWire.com

  • China, In The End, Didn’t Buy Gold From The IMF Because It Has Better Ways To Use Its Money

    Gold Miners

    Despite rampant speculation that China might buy 191.3 tons of gold being offered by the International Monetary Fund (IMF), it turns out that China turned down the opportunity.

    There A) are far better ways the country can deploy its massive reserves and B) China would rather just produce its own gold and store it rather than risk disturbing the dollar market:

    “It is not feasible for China to buy the IMF bullion, as any purchase or even intent to do so would trigger market speculation and volatility,” said the official from the China Gold Association, on condition of anonymity. He said China would continue to shore up its gold reserves by acquiring gold mines abroad rather than purchases on the international market.

    Zhu Baoliang, a researcher at the State Information Center, said China would not hike its gold reserves given the limited quantity available on the market. “Gold is only a small portion of the nation’s reserves,” he said.

    China would far rather avoid using dollars to add to its reserves. Which means it will simply increase production of gold at home, and store that.

    Business Week: “We’re not surprised to see that China has not” purchased IMF gold, said George Milling-Stanley, the London-based council’s managing director for government affairs, said in a telephone interview from New York. The country is more likely to “buy local gold production” to add to its reserves.

    “There has been some ill-informed comment that this move tarnished the notion that governments are adding to reserves,” Milling-Stanley said. “There are a lot of central banks out there that are buying local production in local currency. The IMF would have no interest in that local currency. The IMF is looking for dollars.”

    “China was always buying its own domestic production and it will likely to continue to do so,” Milling-Stanley said.

    So China can load up on gold without touching the world market.

    Join the conversation about this story »

    See Also:

  • GM commits $2.57 billion for Opel/Vauxhall restructuring

    General Motors announced yesterday that it will invest 1.9 billion euros ($2.57 billion USD) towards the restructuring of Opel/Vauxhall, more than tripling its previous pledge of 600 million euros.

    “GM’s €1.9 billion commitment is the right course of action for Opel/Vauxhall and should clearly signal our determination to fix our business,” said Nick Reilly. “Our call for the additional funding was approved by GM’s senior management and supported by the GM Board of Directors. Meanwhile, we have shared this decision with the European Commission as well as the national and state governments involved. We hope that our strong commitment will be well received as a major milestone in our ongoing discussions about government guarantees to cover the remaining gap.”

    The increased investment from GM means Opel will be able to keep its doors open through the year. It previously said it had enough liquidity to operate in to the second quarter. The move could also help Opel’s restructuring win state aid from European governments.

    Under its viability plan, Opel/Vauxhall had estimated funding requirements of €3.3 billion. However, an additional €415 million had been requested by the respective European governments to offset the potential impact of adverse market developments.

    – By: Stephen Calogera