Germany fumes over GM ditching Opel sale to Magna

Story by Superior Auto Institute /

General Motors Co. decided to sale their European Opel unit to Canadian auto parts maker Magna International last month but this month went back on the deal and decided to hold onto Opel and Opel’s sister Vauxhall.
This decision fueled German politicians with fury and Opel worker’s canceled cost concessions and prepared themselves for walk-outs.
“A Black Day” was what the whole issue was being called by Klaus Franz, Adam Opel GmHB’s top employee representative in reference to the workers who would start momentary labor stoppages on Thursday.
The German Government put up 1.5 billion euro as a bridge loan to keep Opel form following under, while a buyer was sought so that Magna and Sbertank could take 55 percent stake.
Berlin’s Economy Minister Rainer Bruederle vowed that the 1.5 billion euro would be returned back. He stated, “We will get the tax payer’s money back.” Here then added, “totally unacceptable.”
GM Europe Spokeswoman Karin Kirchner said that GM Europe was prepared to repay the bridge loan back. The Russian government felt differently about what General Motors was doing. They were happy that the company had decided to keep Opel and its sister company Vauxhall, they didn’t want to see the companies spilt up. A former Vauxhall worker and joint leader of the Unite union, Tony Woodley called General Motor’s action a “fantastic decision.”
General Motors, throughout the year has had a very rough time staying open and lost more than $8 billion in the past four years and obtained $50 billion from government aid. More than 54,000 workers are employed at General Motors Europe and with sales of Cadillac, Chevrolet, Opel and Vauxhall vehicles General Motors Europe has become the highest auto sales in Europe.
General Motors filed for bankruptcy earlier this year. Opel was held in reserve and 65 percent was placed in a trust, General Motors held onto the other 35 percent.
With this recession leaving behind a changed economy many industries have been changed also. Several have closed up, most have gotten government aid to stay open and still some have to release workers. This means the unemployment rate is steadily going up also.
When it comes to taking care of your family and yourself you can’t always rely on an industry for work. So it’s a good decision to go into a trade that can support your family and yourself so that way when it comes down to times like the one we are in, you know your family is well taken care of.
Paintless Dent Repair is a profession that can help you earn an income that will help you pay off old debts and even help supply a nest egg for any future recessions our economy might see and we all need one of those. Paintless Dent Repair is a trade that allows quick income and you could own your own business or work at a dealership. You could earn up $100 per vehicle you fix which gives you a great check at the end of the week.
If you are looking for a great income, a sturdy position and enough work to last until retirement you have found it all in Paintless Dent Repair.