Streetwise Professor

December 27, 2009

Uhm, I Wouldn’t Book That as Revenue Just Yet

Filed under: Financial crisis,Politics,Russia — The Professor @ 10:04 pm

Sberbank’s German Gref is still bent out of shape about GM’s walking away from an Opel-Magna-Sberbank/GAZ deal:

Russian lender OAO Sberbank demanded compensation from General Motors Co. for the failed deal to buy the U.S. auto maker’s German subsidiary, Adam Opel GmbH.

Sberbank’s chief executive, German Gref, said in televised remarks Friday that GM should pay “voluntary” compensation for its decision in early November to scrap the selling of a 55% stake in the struggling Opel to Sberbank and Canadian auto-parts maker  Magna International Inc.

“We think that GM’s commitment went so far that they should have sealed the deal,” Mr. Gref said.

Note to Gospodin Gref: a deal ain’t a deal until the right people sign on the dotted line.

Voluntary.  That’s pretty funny.  It also speaks volumes about Sberbank’s legal position.  Meaning, they don’t have one.  (Sorry, Sergei–but that’s the way it is.)

I do agree with Gref on one thing: GM never should have gone as far as it did.  But it was better that it pulled out before it was too late.

The little DJ wires piece is entertaining for another reason: it provides a reminder of 2009’s greatest pot-meet-kettle moment:

The move to scrap the deal angered Russian politicians, and Prime Minister Vladimir Putin asserted that GM had exhibited an “arrogant attitude” in abandoning months of negotiations.

That still makes me laugh.

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13 Comments »

  1. If only Russia could one day realize that it is seen by Ukraine, Georgia and the Baltics exactly as it claims to see the USA. That might be the beginning of a new future for Russia. But history shows that day will never come, and instead we will see a blind and ignorant (and, yes, arrogant) Russia collapse before our eyes.

    It truly is amazing that Russia, one of the most lawless large societies on the planet (as documented scientifically over and over by objective observers like Transparency International) can dare to claim the law’s protection against others, including the law of morality. Clearly, Russia is descending once again into Soviet-style insanity.

    Comment by La Russophobe — December 28, 2009 @ 4:27 pm

  2. Life is like a tree of monkeys. Look down, and all you see is smiling faces. Look up, and all you see is assholes.

    Comment by So? — December 28, 2009 @ 7:32 pm

  3. Are the monkeys smiling when the tree is on fire and there is a pride of lions circling below, you brainless, witless troll?

    Are you analogizing Russia to a tree full of monkeys, you cluelessly ignorant ape?

    Comment by La Russophobe — December 28, 2009 @ 11:49 pm

  4. America – top asshole. Russia – many rungs below. Ukraine – not in the running.

    Comment by So? — December 29, 2009 @ 5:44 pm

  5. Gosh, you’re ignorant.

    A tree doesn’t have rungs it has branches, you hopeless moron. Not even you can follow your own hopelessly stupid analogies.

    The USA is surrounded by powerful allies. Russia has none such, only the likes of Nicaragua and Syria. In the company of civilized nations, Russia cannot even aspire to become what you describe (like the crude and vulgar punk you are), it is far, far lower now.

    Comment by La Russophobe — December 30, 2009 @ 4:13 pm

  6. Obedient dominion to the North, sleepy latins to the South. 2 oceans either side. With neighbours like these, how can one not seek adventures elsewhere? “We’re all Georgians now”. LOL.

    Comment by So? — December 30, 2009 @ 8:07 pm

  7. Uhm, sleepy Latins? Ever heard of Ciudad Juarez? Cali? Medellin? Ever looked at the murder rates of any country s. of the Rio Grande?

    The ProfessorComment by The Professor — December 31, 2009 @ 9:32 pm

  8. So? meant that they are geopolitically sleepy.

    Obviously not on the smaller scale of personalities and communities.

    Comment by Sublime Oblivion — December 31, 2009 @ 10:09 pm

  9. S/O/So? The countries on Russia’s borders–including the nations within its borders, eg Chechnya, Daghestan– would be geopolitically sleepy, too, if Russia would leave them the hell alone, rather than try to relive its “glorious” imperial past.

    There are many spillovers resulting from the violence in South and Central America. Visit the Rio Grande sometime if you have any doubts about that. Much of this is the self-inflicted result of the criminalization of drugs, but it exists nonetheless, and is not much different in its effects from the pathologies arising in the Caucasus.

    The ProfessorComment by The Professor — January 1, 2010 @ 9:55 am

  10. “Chechnya, Daghestan– would be geopolitically sleepy, too, if Russia would leave them the hell alone…”

    Tried that, 1996-1999. Got continual raiding and hostage-taking over the border into Russia. Well, something had to feed the slave-markets of Grozny. Then there was Basayev’s attack into Daghestan.

    Looks like SWP’s “factually challenged”, as well as a Republican hack.

    Comment by rkka — January 1, 2010 @ 7:05 pm

  11. Wars with Muslims in North Caucasus never had anything to do with glory or empire.

    Comment by Leos Tomicek — January 1, 2010 @ 9:09 pm

  12. rkka–

    Thanks for proving my point: fact challenged my ass. Again, visit the Rio Grande or AZ borders some time. If you dare. The point is, exactly as I said: Russia’s southern border and the US southern border are both scenes of endemic violence that often spills across borders. That’s very different from the geopolitical angle that was being flogged by So? and S/O earlier.

    Oh, and re Republican hack: Bull. [I cleaned that up.]

    Leos: re “never” and “anything.” You’re deluding yourself. Certainly not everything at all times, but certainly not anything at no time.

    The ProfessorComment by The Professor — January 2, 2010 @ 11:49 am

  13. Why were the formerly Mexican territories incorporated into the US. Shouldn’t US just leave them alone instead of acting as an empire? Or is it a matter of security?

    Comment by Leos Tomicek — January 2, 2010 @ 12:40 pm

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