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...German Economy Minister, Rainer Brüderle, summed up the mood as he arrived at a cabinet meeting in Berlin on Wednesday: "The behavior of General Motors toward Germany is totally unacceptable. We won't let GM put us under any pressure." But at this point, can the German government or unions really do anything about it? Can they punish GM or at least make things difficult for the manufacturer? Will they be able to protect the 25,000 Germans employed by the company? (See the most exciting cars...
...least one thing is clear: the German government wants GM to pay back the $2.2 billion bridge loan that Berlin gave it a few months ago to keep Opel's business afloat. Jürgen Reinholz, the Economy Minister of the eastern state of Thuringia, says GM will likely do this by the end of November. But a huge question for Merkel is whether GM will now receive any of the $6.7 billion in loans the government had previously promised to Magna to seal the deal. The pledge had raised alarm bells in Britain, Belgium and Spain, where leaders feared...
...Europe on Friday." Thousands of workers gathered at the carmaker's plant in Rüsselsheim to vent their anger at the aborted sale. Roland Koch, governor of the state of Hesse, told the workers that GM couldn't be trusted and that he would fight to save every German job. The strike coincided with GM's announcement that it would shed 10,000 positions at its European plants, roughly the same number of jobs that Magna had planned to cut. GM did not say where the cuts would fall. The company employs 7,000 people in Spain...
...engineering employees, says it won't back down from that demand. But now that the Magna deal is dead, the unions don't have much leverage. They are worried that Germany could suffer more job losses than other European countries because the carmaker won't be obliged to protect German workers...
...German government has asked GM to come up with a restructuring plan as quickly as possible. Government sources said only then would Berlin decide whether GM would be eligible for any of the $6.7 billion in state aid that Germany had offered to Magna. Union leaders want the government to stand firm and not send any German taxpayer money across the Atlantic. But the car giant is prepared to play hardball too, reminding German workers that the insolvency of its entire European operation is still an option. "Failure to reach the restructuring that is needed would result in the operation...