Thanks, GM. Months and months of coverage, analysis and speculation and what happens at the board meeting Tuesday night? "Tell you what, boys, why don't we just keep Opel and restructure it ourselves?"
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Magna International Inc., thwarted this week in its bid to take over General Motors Co.and#8217;s Opel unit, wonand#8217;t seek to buy another car company, co-CEO Don Walker says.
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General Motors has said it was readying a plan to restructure Opel and could pay off debt due this month as German workers went on strike to protest the automakers decision to keep the European unit.
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Germany's finance minister on Friday indicated a readiness to offer General Motors aid to help restructure Opel/Vauxhall, saying the government felt a "responsibility" for the firm's 25,000 German workers.
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Opel chief Carl-Peter Forster is leaving the company after the surprise decision by GM's board this week to block the sale to a Magna-led consortium, Spiegel Online reported on Friday.
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Bob Lutz will chair Opel and help steer a restructuring at the GM unit. Opel President Carl-Peter Forster is leaving the carmaker. Ex-Vauxhall exec Nick Reilly will temporarily replace Forster while GM seeks an external CEO for Opel.
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The head of GM's European business, Carl-Peter Forster, is leaving the company following the surprise decision by GM's board to block the sale of Opel, two sources said.
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Bob Lutz, General Motors Co.'s top marketing boss, will chair the supervisory board of GM's Opel unit and help steer a restructuring plan there now that GM has decided to retain control of the European automaker.
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Bob Lutz, General Motors Co.'
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Bob Lutz, General Motors Co.'
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The head of General Motors Co.'s European business, Carl-Peter Forster, is leaving the company following the surprise decision by GM's board to block the sale of Opel, two sources close to the situation told Reuters.
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Bob Lutz will chair Opel and help steer a restructuring at the GM unit. Opel President Carl-Peter Forster is leaving the carmaker. Ex-Vauxhall exec Nick Reilly will temporarily replace Forster while GM seeks an external CEO for Opel.
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Magna does not plan to seek compensation from General Motors after its decision not to sell subsidiary Opel to a consortium headed by the Canadian based supplier.
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Magna International Inc. is not looking at taking over any other automakers following the collapse of its deal to buy a stake in General Motors Co.'s European operations, the auto parts supplier's co-CEO, Don Walker, said.
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Magna International Inc. is not looking at taking over any other automakers following the collapse of its deal to buy a stake in General Motors Co.'s European operations, the auto parts supplier's co-CEO, Don Walker, said.
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General Motors Co. said it is readying a plan to restructure Opel and could pay off debt due this month. German Chancellor Angela Merkel raised concern over GM's decision to keep Opel with U.S. President Barack Obama.
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General Motors Co. said it is readying a plan to restructure Opel and could pay off debt due this month. German Chancellor Angela Merkel raised concern over GM's decision to keep Opel with U.S. President Barack Obama.
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General Motors Co. said it is readying a plan to restructure Opel and could pay off debt due this month. German Chancellor Angela Merkel raised concern over GM's decision to keep Opel with U.S. President Barack Obama.
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General Motors Co. said it is readying a plan to restructure Opel and could pay off debt due this month. German Chancellor Angela Merkel raised concern over GM's decision to keep Opel with U.S. President Barack Obama.
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In the wake of General Motors Co.and#8217;s decision not to sell Opel/Vauxhall, GM CEO Fritz Henderson said today GM will need to repair relations with the German trade unions.
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