So, there you have it – the final twist in the tail. GM has, at the eleventh hour, done an abrupt U-turn in order to avoid doing something that it never wanted to do, but felt that it had to do when adverse financial circumstances dictated that it file for Chapter 11 bankruptcy in the US earlier this year. |
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UK: Opel's Forster heading for JLR – report - Article (9th November 2009) A report in London's Sunday Times over the weekend suggests that outgoing GM Europe chief Carl-Peter Forster could be heading for a role as head of Tata-owned Jaguar Land Rover (JLR) 'within the next few months'. GERMANY/US: GM readying Opel plan - Article (6th November 2009) General Motors has said it was readying a plan to restructure Opel and could pay off debt due this month as German workers went on strike to protest the automakers decision to keep the European unit. GERMANY: Government hints at Opel aid - Article (6th November 2009) Germany's finance minister on Friday indicated a readiness to offer General Motors aid to help restructure Opel/Vauxhall, saying the government felt a "responsibility" for the firm's 25,000 German workers. GERMANY: Anti-US storm breaks over Opel U-turn - Article (5th November 2009) Angry German workers are protesting on Thursday after General Motors said it would cut some 10,000 jobs at Opel in a move slammed as a slap in the face for chancellor Angela Merkel. US: General Motors decides to keep and restructure Opel - Article (4th November 2009) In a surprise decision announced last night, General Motors' board has reversed course and decided to retain and restructure Opel. GERMANY: Officials, union, round on GM - Article (4th November 2009) It would be fair to say that Germany is not best pleased this morning over GM's decision last night not to sell Opel to a Magna-led consortium and, instead, retain and restructure the European unit. UK: Government may support GM Vauxhall restructure - Article (4th November 2009) British business secretary Peter Mandelson wants to talk soon with General Motors after the automaker scrapped plans to sell its European Opel unit, including its British Vauxhall plants. CANADA: Magna promises Opel "support" - Article (4th November 2009) Magna International has said it would continue to “support” Opel and GM after the US automaker decided to retain and restructure the European unit. |
