Word: opel
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...When the deal to sell part of GM's Opel to parts supplier Magna began to lose momentum, Henderson failed to gauge the depth of the board's sentiment that GM keep Opel as a strategic asset and he remained opposed to doing so up until the very end. That left him crossways not only with Whitacre but also with the German government - an embarrassing place...
...Read: "German Anger Mounts as GM Announces Opel Job Cuts...
...Opel workers ratcheted up the pressure on GM by going on strike on Thursday. "It's a black day for Opel," says Klaus Franz, leader of the company's works council. "The strikes will start in Germany, and then they'll spread across 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...
...Franz said two Opel factories in Germany and one in Belgium are now threatened with closure under GM's new restructuring plan. In the negotiations with Magna, the unions had won promises from the company that all four Opel factories in Germany would remain open, despite the fact that it planned to cut about 4,500 jobs in the country. The powerful IG Metall union, which represents about 3 million autoworkers and electrical and 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...
...Read "GM and Germany Still Wrangling Over Opel...