Navistar not going to buy GM's medium duty truck business

It's an epic poem that could have been written by Byron: you suffered a nasty breakup and met a new girl, you dated for a while, things were looking outstanding, you proposed... and then the bottom dropped out of the medium-duty truck business. We've seen it all before. And now that it's happened, Navistar has backed away from it's non-binding commitment to purchase GM's medium-duty truck operations.

GM and Navistar only had a memorandum of understanding, so there appears to be no harm, no foul in Navistar getting icy feet. The brief announcement of the dissolution presents it as a mutual affair: "Due to significant marketplace and economic changes, GM and Navistar have decided not to renew the memorandum of understanding to purchase GM's medium duty truck business," but we imagine GM standing at the altar, watching its Navistar groom bolt from the church and hop in a taxi.>

GM is still talking to Navistar and looking at other ways to dump find a good home for its medium duty truck business. A shame, because they make some fine vehicles.

[Source: GM]