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Realistbear

Employment: G M Considering Cutting 12,000 Jobs In Eu

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http://today.reuters.co.uk/news/newsarticl...OPE.xml&src=rss

FRANKFURT (Reuters) - General Motors Corp (GM.N: Quote, Profile, Research) cannot rule out eventually closing one of the three European plants that make the Opel Astra model, Chief Executive Rick Wagoner said in a German newspaper interview published on Friday.
Although the U.S. carmaker's European arm has made great progress in improving its financial performance, it still has work to do to contribute to the group's restructuring, he told the Handelsblatt daily.
"At the moment there is no decision on this issue," he said. "But given the situation in the motor industry you can't rule it out."
GM Europe, which made a first-quarter profit of $88 million excluding one-off items, makes the Astra/Vauxhall compact in Bochum, Germany;
Ellesmere Port in Britain
, and Antwerp, Belgium.
It is set to
decide by early next year where to build the next generation of the Astra
to be launched in 2010.

China, they know it makes sense:

"He said China would some day play a role as a major exporter of cars."

Tick tock, tick tock....... :o

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But GM Shares shoot up yesterday as is often the case when large corporations announce job cuts.

The bigger pictures is the massive involvement of GM in the derivatives market in the united states that is trading at something like $300trl so this makes the $9trl national debt look like a walk in the park and explains the relief of the share traders.

Apparently the rise in GM shares was down to them selling more 4X4 but I don’t think Americans are that stupid when oil prices are riseing as they are.

America is going down and that’s why you are seeing so much turmoil in the world today so do your duty and buy a 4X4 and keep buying Oil to prop up the Americans economy

Edited by Justice

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But GM Shares shoot up yesterday as is often the case when large corporations announce job cuts.

The bigger pictures is the massive involvement of GM in the derivatives market in the united states that is trading at something like $300trl so this makes the $9trl national debt look like a walk in the park and explains the relief of the share traders.

Apparently the rise in GM shares was down to them selling more 4X4 but I don’t think Americans are that stupid when oil prices are riseing as they are.

America is going down and that’s why you are seeing so much turmoil in the world today so do your duty and buy a 4X4 and keep buying Oil to prop up the Americans economy

Desperation setting in for sure. Plant closures on the way here it looks like?

SUV sales are tanking in the US but rising in the EU with rich Ireland buying hundreds more as MEW gains popularity:

US:

http://www.boston.com/business/articles/20...dents_us_firms/

SUV sales decline dents US firms
Demand for big vehicles feels sting of rocketing gas prices
By Associated Press | October 4, 2005
DETROIT -- Sales of sport utility vehicles fell in September, dragging down US automakers, who were already expecting consumer payback after a summer of employee-pricing discounts. Asian brands, which didn't offer employee discounts, felt less pain.

IRELAND:

http://www.ireland.com/newspaper/motoring/...OT26P1LEAD.html

SUV sales up 34 per cent last year
Michael McAleer Motoring Editor Over a third of all so-called 4x4 Sports Utility Vehicles (SUVs) sold in the Republic last year were registered in Dublin. Of over 9,500 SUVs sold last year, over 3,400 were registered in the capital between January to December 2004.

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http://today.reuters.co.uk/news/newsarticl...OPE.xml&src=rss

FRANKFURT (Reuters) - General Motors Corp (GM.N: Quote, Profile, Research) cannot rule out eventually closing one of the three European plants that make the Opel Astra model, Chief Executive Rick Wagoner said in a German newspaper interview published on Friday.
Although the U.S. carmaker's European arm has made great progress in improving its financial performance, it still has work to do to contribute to the group's restructuring, he told the Handelsblatt daily.
"At the moment there is no decision on this issue," he said. "But given the situation in the motor industry you can't rule it out."
GM Europe, which made a first-quarter profit of $88 million excluding one-off items, makes the Astra/Vauxhall compact in Bochum, Germany;
Ellesmere Port in Britain
, and Antwerp, Belgium.
It is set to
decide by early next year where to build the next generation of the Astra
to be launched in 2010.

China, they know it makes sense:

"He said China would some day play a role as a major exporter of cars."

Tick tock, tick tock....... :o

Closing E. Port would be unlikley given the huge amount recently spent re-modernising, but having started to sell GMAC, the biggest driver of profits, they`ll have to look for ways to survive as a stand alone car maker.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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