Friday, Feb 27, 2009
Opel to be effectively nationalised - Bye-Bye Vauxhall!
CNN: GM spins off Opel, asks for $4B
Looks like the UK will get the dirty end of the stick as GM seeks to spin off Opel as a separate company with $4 billion government bailout the bulk of which will be from the German government.
Posted by enuii @ 05:50 PM (658 views) Add Comment
4 Comments
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1. 51ck-6-51x said...
GM needs to be allowed to go to the wall even though it means so many loosing their jobs. If there is going to be a subsidy give it to those loosing their jobs in the form of golden parachutes.
2. mark said...
vauxhalls produce rubbish cars anyway.......
3. alan said...
C'mon Mark, what about my Vectra!
..but seriously, I live about 3 miles from the Dunton Research establishment for Fords. There wasn't any press, but lots of agency staff got sent home as 2 new developments got canned this week. Ford of Europe was around break-even at the end of 2008, GM (Opel) wasn't doing that bad either, its just the depression in the US, and their refusal (till recently) to look at alternative fuel options..
I reckon that Opel and Ford of Europe could both be viable if they lost their American management.
4. enuii said...
Alan, your probably right with that observation, Americans tend to manage jobs to economic death. How many people had heard of project managers 20 years ago never mind their stupid mantra 'if it cannot be measured it's not worth doing' as well as CPI, SPI and spend curves!
American managers are like Hemorrhoids but at least you can get ointment for the latter.