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DETROIT The head of European operations for General Motors quit on Friday after the automaker backed out of a deal to sell its Opel brand, a decision that has angered German workers and government officials. Full Article at The New York Times
Related Articles
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General Motors' decision to keep its European arm Opel after months of negotiations to sell it triggered anger and dismay in Germany, which had led the talks and was putting up much of the cash. Full Article at People's Daily Online
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The German government blasted on Wednesday General Motors' decision to hang on to its European unit Opel as workers voiced alarm about a potentially deep restructuring of their loss-making company. Full Article at The Age
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Fritz Henderson, GM's chief executive, broke the news to Merkel's delegation during her meeting in Washington with the heads of the World Bank and IMF shortly before she returned to Berlin. Full Article at Al Jazeera
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Klaus Franz, Adam Opel GmbH's top employee representatives, said workers would walk out starting Thursday in brief, so-called "warning strikes" over GM's decision to call off a deal with Canadian parts maker Magna International Inc. and Russian lender... Full Article at San Francisco Chronicle
Related Quotes
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We will have to take into account this style of dealing with partners in the future, though this scornful approach toward partners mainly affects the Europeans, not us
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It loses money and is extremely high-cost poduction in Germany, but if you write off Opel, you also [write off] Vauxhall in the U.K., and therefore the whole European market
– Dennis Keene SOURCE: Popular Mechanics -
Business decisions by GM are made by the corporate leadership at GM and not by anybody at the White House
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It was a close call all the way along, and I suspect it could also be said going into the board meeting, there was uncertainty ... It’s a big decision. It’s a complicated business.
– John Smith SOURCE: Bloomberg.com
