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Opel Workers Stage protest
Opel's problems are down to German mismanagment and a refusal to ever close old and expensive German factories.
When Magna started talking about removing Corsa production from Spain to help out Germany, GM must have realised that decisions based on politics were going to drive GM Europe into the ground.
GM Europe needs to start building a full range of dynamic cars, note the lack of a full size people carrier and any large cars.
The German factories need to be closed, production moved to Eastern Europe, Spain and the UK and sales of small cars in the US started...
GM to Keep Opel
KEP GUY - you're right that we need to stand up to GM's tactics; when GM accepted the $50B bailout from the US government ( American taxpayer ), I'm sure the implied intention was that the money was to be used to protect American jobs; since emerging from bankruptcy, where has GM spent the money??? - larger ownership position in Daewoo, purchase of Delphi plants in Europe, and now to restructure GM Europe ( Opel, Vauxhall, Saab, etal ); when will GM spend some of the money in the good old US of A???; it is, afterall, the American taxpayers' money
GM to Keep Opel
I got to give the German gov't, workers, and union credit for standing up to GM's trickery. On a related note on the American side, too bad the workers and the UAW didn't SCREAM foul play in 2007 when the US gov't allowed Daimler to dump Chrysler after plundering and mismanaging Chrysler for 9 years. The US Congress should have heard this again in late 2008. We should take a lesson from the Europeans on how to rally and march in the streets!
Opel Workers Stage protest
xd Paris France--Henderson is doing this with money GM stole from employees,investors,dealers,taxpayers and suppliers.I would never buy another GM even if they were half price. They are crooks and can not be trusted. I am 75 from Detroit and once a very loyal GM customer. I have now bought two Ford expeditions in the last one and a half years.
This is just another example of taxpayer money they stole with the help of Obama and the crooked bankruptcy court:
HENDERSON: He also said by the end of this month GM will repay a 1.5 billion euro ($2.2 billion) bridge loan that kept Opel afloat until a deal could be finalized or rejected
Opel Workers Stage protest
The head of GM's European operations union states "Our trust (in GM) is now zero, and that is the heart of the problem,"
I submit that the same is true in GM's home country as well. They have given pennies on the dollar to so many people they owed money to and absolutely nothing to others under the terms of the task force bailout. This was necessary for survival they claimed. The money GM received was to save GM, US jobs and the US economy. This money was from the US for the US and not to go overseas. No sooner than GM was allowed to shed it's obligations to real Americans did they turn around and start spending our tax payer money to buy up overseas operations and pump cash into an overseas operation they promised to sell. According to Ratner the Treasury department signs off on all expenses greater than $100M so Obama must be behind this diversion of taxpayer money overseas.
So who would trust GM and why? Obama and his task force and why?
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