I'm working for Uncle Sam !

[F Body]

GM Board Decides to Retain Opel/Vauxhall, since GM are now owned by the American Government, I'm working for uncle Sam
   
· New GM supports restructuring of Opel.
· GM restructuring plan involves lower investment compared to investor proposals.
· Discussions with stakeholders on restructuring to begin in earnest.

DETROIT – Given an improving business environment for GM over the past few months, and the importance of Opel//Vauxhall to GM's global strategy, the GM Board of Directors has decided to retain Opel and will initiate a restructuring of its European operations in earnest.

NB : Unless they change there mind

[Incursus]

Yup saw that.  Good news hopefully

[ianjpage]

Quoting: Incursus

Yup saw that. Good news hopefully

[F Body]

Quoting: Incursus

Good news hopefully

Quoting: F Body

NB : Unless they change there mind

The following three questions and answers have been posted on the "GM Answer Me Now" blog:

Why did the board of directors switch direction on Opel/Vauxhall?

The need to divest Opel/Vauxhall was always driven by the different economic situation GM was in earlier this year.  This has changed dramatically, as have the prospects of the overall business climate in Europe.  Additionally, the Magna/Sberbank deal presented considerable complexity and increasing uncertainty for the long term relationship.  GM now has the focus and stability to restructure the business; this situation was not entirely clear until just recently.


How will GM restructure the Opel/Vauxhall business?

The viability plan GM developed at the end of last year remains the basic road map for achieving a profitable business.  This plan called for a 30 percent reduction in structural costs, which was a guideline for how bidders developed their proposals.  GM will evaluate the situation at present and will recommend targets to reaching viability.   It is not expected that the plans will vary greatly from the framework that has been in discussion.


Will the Zurich headquarters stay open now that GM is keeping Opel/Vauxhall?

No, the plan remains to manage Opel/Vauxhall operations from Germany.

[EDGE]

1st step.... have a coffee...

2nd step... apply for a transfer !!!

[HardRockCamaro]

Hope you don't get paid in $$$...



Seriously though, that's great news for you.

[FUBAR]

heard this this morning on the radio, hopefully its as good news as it seems for your Martyn

[Jamieg285]

The news this morning sounded like the workers may get a worse deal for it staying with GM.

I hope that's not the case.

[Fieldy]

Quoting: Jamieg285

The news this morning sounded like the workers may get a worse deal for it staying with GM.

Thats how I read it

[F Body]

Quoting: Jamieg285

The news this morning sounded like the workers may get a worse deal for it staying with GM.

I hope that's not the case.

The German's will get what they derserve