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 Harry Flatters |
GM cancels Vauxhall - Opel sale |
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Posts: 2548 4 November, 2009 9:43 PM DSG Member
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GM have cancelled the sale of Vauxhall and Opel to Magna, supposedly as a result of the improving economic outlook, GM's own stronger position and the EU inquiry into the German government's support for the Magna bid. http://news.bbc.co.uk/1/hi/business/8341485.stm
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buttmasterfunk |
#1 | |||
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Posts: 174 4 November, 2009 10:15 PM |
yeah apparently GM saw the new owners plans for a new range of cars that were really well engineered, designed, and stylish and vetoed the sale straight away.
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droopsnoot37 |
#2 | |||
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Posts: 117 4 November, 2009 10:22 PM DSG Member
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more jobs lost then.
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 scouser |
#3 | |||
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Posts: 659 5 November, 2009 12:17 AM DSG Member |
Im afraid you could be right there , I think they were looking forward to the sale to give them a chance to work forward and only loose 600,and they were
volunteered redunencies.
time will only tell. |
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MG600 |
#4 | |||
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Posts: 483 5 November, 2009 11:41 PM DSG Member
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IMO staying part of GM is definately the better long term option.
All car company subsidiaries that are sold off from large units into smaller units usually either get smaller or fail completely |
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snoopdroot |
#5 | |||
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Posts: 1028 6 November, 2009 8:23 AM DSG Member |
Just seems as if the whole thing has been a delaying tactic to stop the creditors calling in loans - keep talking about a deal (I lost count of how many times
I read that "tomorrow is the deadline for agreeing a deal to save GM") until the economy picks up, then cancel it all and carry on as you were.
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DerRingmeister |
#6 | |||
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Posts: 439 6 November, 2009 10:46 PM DSG Member
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The German Govt. are reportedly very unhappy that the deal is off.
They were only acting in the interests of German jobs at Opel as Germany has strong employment laws which makes it difficult to sack German employees. Britain on the other hand has no such laws,so any job losses would have been...yep,you guessed it,here!. Thankfully the EU stopped them. Let's see what happens now!. DC |
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