Dump Opel and be rich

The Truth About Cars writes that without Opel, GM would be rich:

Opel is up to its eyeballs in losses.

[...]

With 8,000 jobs to go and to be paid off, there will be monstrous losses in 2011. Who knows what will happen in 2012.

If it wouldn’t be for Opel, GM would be in  hog heaven. Back home, GM makes money. In China, GM sells more cars than ever.  Everything divvy in South America  and the rest of the world.  [...] Buyers of stock are looking at future performance, and the cash drain of Opel will have a serious effect on the take from the IPO.

One of the suitors from last year, Thomas Stallkamp of Ripplewood Holding, had the following to say about Opel's current situation:

If you dig into the numbers, they still have a problem in Europe. They are doing worse than when we looked at them two years ago, and it’s going to take a lot of cash to fix Opel. That’s my concern on the IPO.

So GM has two alternatives: Keep pumping money into the big black Opel hole, or get rid of Opel and be rich!