You can't have a unit as important as Opel is to General Motors chronically unprofitable, he told reporters. It's not sustainable and it's not good for the company. Morgan Stanley's Jonas said wording of that kind was used by Germany's Daimler AG in early 2007 when referring to its Chrysler division before the sale of that business to private equity firm Cerberus Capital Management. In his research note about Opel, entitled Auf Wiedersehen -- German for good-bye -- Jonas said the meltdown in Europe could allow GM to reopen its contract with the IG Metall union. Another option could be a contained bankruptcy for Opel. Unions and politicians in Europe have resisted plant closures, stranding the industry with excess capacity. Opel labor leader Klaus Franz said on November 9 he was astonished by the threat of a potential plant closing, saying GM's current labor deal barred closures and factory job cuts through 2014. He declined to comment on Monday.