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That will upset many in the industry - for VX/Opel it might not be a bad thing. I bet there are penalties to pay to Magna etc. though!
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The BBc has now expanded its report.
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I think it is good news. We have seen from the past when new companies take over brands they quickly fail.
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GM added that it had also come to its decision because of the importance of Opel and Vauxhall to its global strategy.
So do I Rattle. They may have thought they had to sell IPR along with GM Europe (minus SAAB) but that IPR was paid for my GM.
Lets hope it all works out. A lot of jobs depend on it.
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Am I being cynical, or have GM been very clever and used Magna to "soften-up" their staff and basically do their dirty work FOC?
Whatever the outcome, I hope it all works out for the best, especially as the Ellsemere Port factory is directly opposite me, (on the other side of the river)!
Edited by nick62 on 04/11/2009 at 08:51
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Am I being cynical
Yes. The GM of today is not the same as even a few months ago. The US government owns most of it at the moment don't they. And the unions got about 20% of new GM.
To me it always made little sense to sell GM Europe (okay SAAB was effectively gone anyway). With platform sharing etc then giving away or selling GM Europe also gave away a lot of IPR.
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Better the devil you know perhaps? Magna might have turned out to be asset strippers.
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Not suprised-with Milly Molly Mandy interfering!
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It all boils down to the fact GM needed a shed load of cash quickly. Selling GM europe was one way to do it, and frankly suicidal as well.
Clearly the need to get money has gone away so they are less keen to sell their vital organs
For the life of me, I still dont know why they keep the Vauxhall brand tho. In the modern day it has no consumer value to warrant its continuation, Brand it all Opel - or even GM.
Edited by Altea Ego on 04/11/2009 at 12:13
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I am not so sure about this move.I hope nobody loses their job ,but Americans can be ruthless about jobs cutting.Idont think 25000 opel employees will feel safe.
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German fury over GM Opel U-turn
news.bbc.co.uk/1/hi/business/8341870.stm
A slight contrast to the UK view :-)
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The UK view may change if/when Luton is closed.... (which looks to me like a cert but wdik)
Edited by madf on 04/11/2009 at 18:00
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Hello nick62
I work there and that thought crossed my mind as well. Still I think the right decision. This current Astra is looking good, not forgetting the Insignia. The future is bright for GME.
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GM plans to cut 10,000 Opel jobs.... so a lot in the UK too?
news.bbc.co.uk/1/hi/business/8343517.stm
Could also see this coming....
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I have been following this story closely for months. Magna also planned on cutting 10,000 jobs. The difference now is that the German workers may well be part of these cuts. Under the German government backed Magna takeover the German workers were largely protected, hence the German governments fury.
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Funny isn't it? 10,000 job cuts outside of Germany, no complaints from the German, pushed through by the German government with the help of state aid, despite protests from the UK, Spain and Belgium. Now the plan is to cut many, if not most of those 10,000 jobs in Germany and the boot is on the other foot, suddenly they're not so keen! And yet the number consigned to the dole within Europe is the same?
So much for a united Europe!
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Exactly, united Europe when it suits. The German government even at one point had the state aid offer for the Magna bid higher than that offered to the Belgian consortium involved in the negotiations earlier on.
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Looks like Ellesmere Port has pulled it off - increased production and a return to 3 shift working.
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Not so good for Luton though as three hundred lose their jobs
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