Word: opels
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...year. And the recession and the drop in auto sales in the U.S. saddled Toyota with excess capacity in the U.S., leaving it little choice but to cut production, says David Cole of the Center for Automotive Research in Ann Arbor, Mich. (Read "GM and Germany Still Wrangling Over Opel...
With the new General Motors Corp. expressing second thoughts about selling Opel to Canadian partsmaker Magna International Inc. - or anyone else, for that matter - a flip side to GM's indecision has emerged. Why would Magna want Opel when acquisition of the bankrupt European carmaker could jeopardize billions of dollars in business with existing customers - and possibly lead to its ruin...
...German commentators have criticized the almost amateurish way in which Merkel and Steinmeier have risked turning GM and Opel's misery into a transatlantic dispute. Neither GM nor the Obama Administration, which appointed 10 of GM's current board members, appears to like the idea of handing Opel - and GM patents - to a consortium at least partially controlled by Russian oligarchs. "Neither the Chancellor's phone call with the American President nor the Foreign Minister's with Mrs. Clinton impressed anyone," wrote the conservative Frankfurter Allgemeine Zeitung in a commentary published on Aug. 26. "It is questionable whether their decision...
...Merkel's biggest headache may come from Opel's workers, who are fighting mad over nine months of discussions that have produced little but more uncertainty about their jobs. "We have run out of patience," Klaus Franz, Opel's works council chief, said this week. "We have been calm so far, listened diligently and made comments, but that is over now. If nothing changes from General Motors' side by the end of this week, then we will be active, and there will definitely be spectacular measures from...
...election campaign that has lacked emotional issues, anger over GM and Merkel's handling of the Opel crisis could end up hurting her if it fuels support for leftist parties. This weekend should provide a hint at what could come in September, with elections in the states of Saarland, Thuringia and Saxony. "GM's management is leading the government around by the nose and abandoning the Opel workers," said Bodo Ramelow, a leading official of Die Linken, successor to the former East German Communist Party, who is running for governor in Thuringia. "It's time for the Chancellor to show...