Nov 4th, 2009 - Wall Street Journal
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General Motors Co. executives, rushing to update a restructuring plan for Opel and Vauxhall, are confident they can still win financial backing from Germany despite the rift created when the company's board abruptly abandoned a plan to sell control of the European divisions.
John Smith, GM's lead restructuring executive for Opel, said in a conference call Tuesday that the car maker plans to review a new plan "very soon" and then present it to European governments and labor unions. The news came one day after GM's directors turned down a plan to sell majority control of Opel and Vauxhall to ...
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Magna focusing on core business after Opel saga
Nov 5th, 2009 - CNNMoney
* Magna not looking to buy a stake in any other automakers * Q3 profit $0.45/share vs year-ago share loss of $1.93 * Sales down 16 pct to $4.67 billion * Analysts expected loss of $0.19/share...
Workers angry sale of Opel is off
Nov 6th, 2009 - Boston
RUESSELSHEIM, Germany - Fearing layoffs, thousands of Opel workers walked off the job yesterday to protest General Motors Co.'s decision to abandon the unit's sale. Their indignation was echoed by German and Russian politicians...
GM readies Opel plan, workers strike
Nov 5th, 2009 - Reuters
DETROIT/RUSSELSHEIM, Germany (Reuters) - General Motors Co GM.UL on Thursday said it was readying a plan to restructure Opel and could pay off debt due this month as German...Econ Minister Says Germany Open To Opel Aid Requests
Nov 4th, 2009 - CNNMoney
BERLIN -(Dow Jones)- German Economy Minster Rainer Bruederle said Wednesdaythe government is open to General Motors Co.'s requests for state aid for itsAdam Opel GmbH unit...
Selling Opel would have left strategic gap-GM exec
Nov 4th, 2009 - Reuters
DETROIT, Nov 4 (Reuters) - General Motors Co directorsnarrowly opted to retain Opel instead of selling the Europeanunit to a group led by Canada's Magna International (MGa.
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2:17GM - Opel: Germany criticises US after Opel talks fall through
IN THE FIELD: After a lengthy and, ultimately, inconclusive night of negotiations on the future of General Motors' European subsidiary Opel, the German government has criticised the United States and GM for pulling "unpleasant surprises" during the talks.
2:00Governments consider car industry bailouts 27 May 09
The European operation of General Motors - which includes the Opel and Vauxhall car brands - employs 50000 people across Europe, with half of these based in Germany. Four companies are bidding for control of GM's European assets ...
1:22Kroes Warns Germany, UK On State Aid for Opel - GM
A spokesman for EU Competition Commissioner Neelie Kroes on Thursday made it clear that the European Commission has warned the German and UK government not to breach EU rules on state aid when adopting a new rescue plan for car maker Opel / Vauxhall, a unit of General Motors of the US
1:02Auto Stocks slide
Fuel sources cause cars stocks to dip GM Europe and the Opel Supervisory Board are submitting a long-term plan for viability to European government representatives.The global credit crunch and ongoing economic crisis is affecting the automotive business throughout the world ...
