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Thus, an information has been released from the depths of GM that the American company intends to sign a statement of intentions, which does not require any obligations with the Chinese car manufacturer company BAIC, and also with financial investor RHJ. There is no doubt that its goal is to increase the pressure on Magna in order to secure new assignments. For example, GM has started talking again about one desirable option, which is the possibility of buy-back of Opel, a variant that is accepted neither by Magna, nor by the German authorities. Those who are familiar with the situation at GM – Handelsblatt sources claim that the top leadership of the General Motors cherishes the hope that after the bankruptcy of GM it can restore its former strength, and may again purchase back Opel.

In his turn, the head of the Savings Bank (Magna partner in the transaction) German Gref said on Friday at a meeting of shareholders of the Bank that if General Motors made the new terms of the transaction of Opel acceptable for the Bank, then by the most optimistic scenario, the transaction may be concluded in September 2009. According to him, intensive consultations are currently undergoing with the shareholders fo the auto concern, and an agreement of purchase between Sberbank and the owners of Opel may be concluded in July this year. Meanwhile, Magna, according to the sources of the German media, said the purchase of Opel with the new requirements of GM would not be possible.

Absolute certainty that the transaction between Magna – Opel will take place, does not exist also in the Ministry of Economy of Germany. It is no coincidence that the head of the board of trustees for the trust management of Opel Fred Irwin pointed out in an interview with Handelsblatt that the statement of intent signed between Magna and General Motors is not legally binding and does not oblige to anything, and that new applicants for the purchase of Opel were welcome.

Thus, some extra time is needed in the tugging for Opel. The Chinese delegation from BAIC is continuing intensive study of financial records of the German carmaker in its headquarters in Ryusselshayme and active talks are taking place with the managers of Opel. What may spur them is that another Chinese company – Sichuan Tengzhong Heavy Industrial Machinery Co., may abandon the purchase of brand Hummer from General Motors because of the dissatisfaction of the regulatory authorities of China with the deal, because Beijing is pursuing a policy aimed at reducing energy consumption and manufacturing low-cost, economical cars.

Yet much says in favor of the fact that in the end the choice will be made all the same in favor of Magna, in fact negotiations with the Canadian-Austrian corporation are in a much more advanced stage compared to those with other competitors. Yes, and GM understands that, because of the difficult economic situation of Opel the time to negotiate of the Americans is not unlimited.

The point is that the German government interim loan that is given to Opel, which has millions of dollars in losses every day, will only last until the autumn, insiders believe. And the political apex of Germany is seeking to make a final decision on the Opel before 27 September, that is, before the German parliamentary elections.

As a result of the deal, the shares of the ownership will be distributed as follows: 40 per cent of the shares will go to Porsche and the family Pitch that owns it, 20 per cent will go to the owners of the land of Lower Saxony, a major holder of shares of Volkswagen, 15 per cent of the shares will become the property of Qatar, that wishes to make a partial investment in the deal, and 5 per cent will go to an unnamed investment fund. And nothing is reported about what will happen to the remaining 20 per cent.

Management of Porsche has to decide whether it agrees to such an option or not until the end of July of this year. In case of a negative decision from the part of Porsche, the management of Volkswagen will require payment of the loan of 700 million euros provided by VW to Porsche in order to stabilize its financial situation.

It should be recalled, that Porsche, which is a relatively small producer of sports cars, has pursued an ambitious goal of absorption of the largest auto concern in Europe over the past years.

Last autumn, Porsche announced that it had acquired options to buy 75 per cent stakes of Volkswagen, but it still owns only 51 per cent of securities of the group. In pursuit of its aim Porsche gained a debt of 9 billion euros, and was forced to abandon the idea of full control of VW.

Instead, the companies have agreed to merge, the exact formula of which has not yet been able to be developed.

ZeniMax Media, which is the parent company of Bethesda Softworks, the developer of computer games TES and Fallout 3, announced about the acquisition of a not less famous and serious company IDSoftware, which is the developer of Doom, Wolfenstein and RAGE.

However, the new acquired company did not not become a place for innovations or changes. Representatives of ZeniMax Media have officially stated that there will not be any personnel changes at ID Software – Todd Hollenshead and John Carmack have signed long-term contracts and will continue to remain at the helm, and the id Software will continue to work in its usual mode.

CEO of ID Software Hollenshid Todd commented on the deal: “This is a unique opportunity for our team to merge with a smart and powerful editor, such as Bethesda Softworks, where the interests of studios and publishers will be fully coordinated in the process of development and marketing. In addition, we will now have serious financial and business resources to support the future growth of ID Software, and also amny enormous benefits, and as a result of that deal our fans will get more quality games. “

“This transaction offers excellent prospects to move forward for id Software ” – said John Carmack. “Now we have every opportunity to grow and expand our franchises under one roof, with all the promising practices of various groups. I am very happy for the deal.”

Reports on the proposed sale of Volvo appeared last year. A number of buyers claimed for the Swedish company, most likely of which were automobile corporations of China and the consortium of European investors. Geely said earlier that it wanted to gain access to technology and the dealer network of Volvo.

The biggest concern among the fans of Volvo is the question whether the current image of the Swedish car as one of the safest in the world will remain. According to the expert of the London School of Economics Thomas Kirhmayera, by buying the leading European car brands, the Chinese are seeking new technologies in order to strengthen their presence in the global market. «The Future of Volvo depends on what strategy the Chinese will choose. They can minimize the production in Europe and transport equipment to their country or leave everything on their places, – the expert said. – However, several signs indicate that they will keep the production in Europe».

Perhaps, Volvo will remain in its usual form thanks to all the strict requirements from Ford. The company warned that the future owner of Volvo must fully comply with the tradition of the brand. There can be no compromise regarding this issue, as opposed to the price. In 1999, Ford bought the Swedish company for more than 6.4 billion dollars, but since the rumors in the market about a possible sale of the brand its value has ranged from 1.2 billion to $ 3 billion. Net loss of Volvo amounted to U.S. $ 510 million in the first quarter of this year. « It is the best time for the Chinese to acquire foreign companies against the backdrop of world recession », – is confident Jia Singuan, the analyst of the leading Chinese National Automotive Industry Consulting and Development Corp.

For Geely brand Volvo is useful not only in the struggle for European consumers, but also for the domestic market of China. Unlike the American brands, the European ones, including Volvo, are known and popular among the Chinese. According to forecasts, in spite of the crisis sales of cars in China will grow by 17% and exceed 10 million units this year. Geely has already doubled its sales, bringing them up to 101 thousand cars from January to May.

The Government of Germany and the authorities of the German lands, where the main businesses of Opel are located, approved the investment plan of Canadian-Russian consortium.
Magna and Sberbank claim for a controlling stake of Adam Opel GmbH, which combines Opel and its sister brand Vauxhall. Under the plan of Magna, General Motors will retain a share of 35% in the Opel, another 35% will have Sberbank, 20% – Magna, and the remaining 10% will be owned by Opel employees.
Capital infusions of new investors in Opel should make about 500-700 million euro. The industrial partner for Opel, as planned, will become “GAS” group. Canadian Magna International expects to complete the transaction for the purchase of Opel by September 2009.

It should be recalled that the German authorities approved the provision for the European Branch of the American auto concern General Motors – General Motors Europe bridge loan of 1.5 billion euros on 1 July this year.
With that German automaker Opel and British Vauxhall will continue to operate regardless of the bankruptcy of the American parent company. In the next five years, Opel plans to increase itsannual sales volume of cars up to 2 million units.

As the leadership of GM announced, Opel needs the assistance of European governments in the amount of about 3.3 billion euros, as well as a new investor for its survival. German automakers want to become an independent European joint stock company in which GM’s shares will be minimal. German Chancellor Angela Merkel has pledged to provide guarantees for the new investor. According to the head of GM Fritz Henderson, business GM Europe, 80% consisting of Opel, thanks to the introduction of eko premium is doing better than expected. Liquidation of GM in the European unit is likely to last until the end of the year.

Meanwhile GM’s hopes for the new investor in Europe are strengthening. «I am very encouraged», – said the head of the council of general productiveness of Opel Klaus Franz to the newspaper Handelsblatt, after the auto giant described the success in finding investors. As Mr. Henderson said during the teleconference, he had already talked with more than half a dozen applicants for the German automakers. Among the potential buyers are financial investors, and some auto concerns. According to Fritz Henderson, now they have the financial statements of the company. Commerzbank, which has attracted German automakers to seek investors, recently posted the first part of the documents to potential buyers to increase their interest.

Recently, an Italian newspaper reported about the interest in Opel by the Italian auto company Fiat. The head of the supervisory board of Fiat Luca Cordero, however, refuted this information. As the head of GM said, he believes that one of the major challenges is the restoration of the competitiveness of the American concern: «If we have to do this through the bankruptcy, we will do it». The U.S. government is obliged to the automaker to settle billions of dollars of claims by creditors and the union UAW until the end of May. «The clock is ticking», – Mr. Henderson is forced to recognize. Detroit auto concern has already received 13.4 billion dollars from the state, without which it would not survive. According to the edition of Detroit News, the U.S. government is going to approve an additional 5 billion USD for the short-term help to GM this week. Its rival Chrysler can get support from the state in the amount 500 million dollars.

The financial results of VW in the first quarter exceeded expectations of the experts so much, that the company, that has become very optimistic, cautiously forecasts growth throughout 2009. At the motor show in Shanghai, Mr. Vinterkorn introduced the latest versions of popular models of Volkswagen, as the Golf and Passat. Now China is the biggest market for VW. In 2008, the concern was able to sell 1.02 million vehicles here (8.6% more than the previous year). By 2018 the automaker from Bayer plans to double sales volume. Audy company has a similar case. The automaker from Ingolstadt predicts a serious increase in the Chinese market. As the head of Audi Rupert Stadler said, the company expects to increase sales to 200 thousand cars per year by 2015. Last year the company became the most successful one among the producers of premium-class cars in the Chinese market, realizing 120 thousand cars. This year the company is also doing rather well. According to Stadler, «in March record of sales was recorded – 11 800 vehicles, and April was also no less than sensational». At this car show in Shanghai it presents an updated version of Audi Q7.

The main rival of Audi, BMW company has experienced serious shakes in regard with the crisis, but it hopes to remedy the situation by very successful sales in the Chinese market and has high hopes for a stable demand in the Chinese premium class auto market. As the company’s marketing director Ian Robertson said, according to the forecasts of the company sales in 2009 should exceed the ones of the last year (75 thousand cars).

At the same time, experts point out that this union of Rio Tinto and BHP Billiton will be good for their Brazilian rival Vale, as it will strengthen the position of suppliers of iron ore in negotiations with Chinese customers.

In addition, the number of companies participating in the annual price negotiations with steel workers will decline, and it will just happen at the same time when China will be fighting for a greater price declines than the one agreed to by the steel companies of Japan and South Korea.

Upon deciding to merge its iron ore business with BHP Billition, Rio Tinto has already abandoned the sale of the shares to Chinese metallurgical company Chinalco. The cost of the transaction was to amount to 19.5 billion U.S. Experts note that if the transaction took place, China could gain access to the Australian iron ore and even would be able to influence the pricing in this market.

“The establishment of a joint venture of BHP Billition and Rio Tinto is profitable for Brazilian Vale, because it will increase the price discipline. Furthermore, as a result of this transaction the total investment of the two companies in the mining of iron ore will decrease. Thus Vale will be able to boost its presence in the market “- believes the independent analyst Michelle Epplbaum.

It is also worth noting that every year, Rio Tinto, BHP Billiton and Vale negotiate the prices of iron ore with customers, and the total price becomes indicative for the entire industry. Such a system, existsting for 40 years, guarantees the stability in the market, but it becomes less effective with increasing volatility in commodity markets. This year, Japanese and South Korean steel companies agreed on 33% drop in prices, but Chinese demand not less than 40% reduction from last year’s prices. China explains these requirements of high volatility in world commodity markets.

Some analysts say, and that the transaction between the two companies will strengthen the position of Australian suppliers in the Chinese market, because they have an advantage over Vale thanks to geographical proximity and, consequently, lower transportation costs. However, the expert brokerage company Agora Christian Viana believes that the best quality of ore can help the Brazilian company to maintain its position in the Chinese market – the only one in the world where growth in consumption is expected. Anyway, one thing is clear: the fact that what is profitable for iron ore industry will eventually benefit all producers of iron ore, including Vale, conclude market participants.

Dutch bank ING has announced that he ceases to sponsor the team Renault in Formula One. The Bank has supported the Renault and Fernando Alonso in the past few years, but now it comes out of sponsorship for the purpose of saving up. The decision will come into force next season after the current contract ends this year.

New Year continued the trend of the last year. The largest-ever registration performance decline in the production of cars in Spain was recorded in January this year. The disappearance of the demand led to a 53% reduction in relation to the level of last year, and conveyors let out only 123’762 new cars.

The market of commercial vehicles is also in very bad situation. The number of trucks registered in January in Spain was the lowest in history, and compared to last year’s rate was less of about 72%. The organization of employees SEOE asked for donations from the Prime Minister in the amount of € 3’000-12’000 to stimulate sales of industrial vehicles.

Many truck drivers have no choice but to declare themselves bankrupt. During these six months more than 6’000 transportation companies have closed down and many have lost all, faced with a large unpaid traffic and closed doors of private lending institutions. About 200’000 trucks are parked – which make 40% of total truck number in Spain.

General Motors told the court that its overall debt has reached $ 172.8 billion, that is twice the value of its assets, and it could not undertake a restructuring. This is the largest-scaled of bankruptcies in the American industry.

Restructuring under the leadership of the American state would require the U.S. government $ 50 billion, in exchange for this the U.S. government will receive about 60% GM. The government of Canada, on which territory there are a number of GM factories, will receive 11.7% stake in GM in exchange for loans of $ 9.5 billion. A further 17.5% stake in the health insurance fund will go to the union United Auto Workers, acting on a North American factories GM. Owners of GM bonds will receive 10% of the shares of automakers, since their share can be increased by another 15%.

«The new GM» must occur in 60-90 days, after which the company will get out of court protection from creditors. Basically, the restructuring will bring to a quick sale of unprofitable assets and the elimination of unprofitable brands such as Saturn and Hummer. At least 11 North American factories of GM will be closed. Also, due to a new contract with United Auto Workers union costs for labor will be reduced. About 21 000 members of the 54 000 workers at GM plants in North America will lose their jobs.

As a result of the restructuring the «new GM» should reduce its debt by half and reserve the brands Cadillac, Chevrolet, Buick and GMC in the U.S. market. However, it is clear that as a result of the restructuring the «new GM» will be much smaller than the «old» one.

Almost simultaneously with the GM, Crysler, the third-largest U.S. automaker declared about its voluntary bankruptcy. Italian Fiat will restructure its assets.

Immediate effect from the bankruptcy of the pillars of the American automobile industry will be the sharp decline of its share in the domestic market, which inevitably will take the competitors. Asian companies – Toyota, Honda, Nissan and Hyundai are more likely to do so.

Google Ventures will wholly belong to the Cupertino company and will actually look for firms through which Google will increase its revenue in this hard times.

Rich Miner and Bill Maris will manage the fund, and as Miner said, Google Ventures is looking for probably all kinds of companies including information technology, health care and biotech, etc..

“Just as we were founded by entrepreneurs, we think we can help some of those next entrepreneurs with the next great idea,” said Miner.

Pixazza Inc, an photo-based online service and Silver Spring Networks are among those companies, which already had already got investments from Google Ventures.

Google Ventures investments will rang from tens of thousands to “several tens of millions” of dollars according to its managers.