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A day after the Surprise move by General Motors to keep Opel, unions at Opel organized a strike across all four German based factories of the company. The strike started at 11:00 local time at Ruesselsheim, a plant with 8,000 workers. http://www.abcnews.go.com/International/wireStory?id=9002901http://www.earthtimes.org/articles/show/293333,opel-workers-to-strike-over-general-motors-u-turn.html The strike is a direct reaction to announcement by GM late Tuesday, November 3, 2009, backing out of the deal with Magna International Inc to sell 55% of their shares in both Opel and Vauxhall. Opel workers fear GM will now revert to a previous restructuring plan, costing 10,000 jobs. http://www.reuters.com/article/marketsNews/idUSWEN599920091103http://online.wsj.com/article/BT-CO-20091104-704977.html http://news.bbc.co.uk/2/hi/business/8343934.stm
- As the Magna-deal was strongly supported by the German government, Germany is expected to re-claim an earlier financial injection of €1.5 billion. http://online.wsj.com/article/SB125728725957326159.html?mod=WSJ_hpp_MIDDLTopStories
- General Motors has threatened to bankrupt the EU divisions (Opel and Vauxhall) if its restructuring plans are not accepted http://www.google.com/hostednews/ap/article/ALeqM5i0YnWm-6GyvaTyy9KmJrD75JH6OQD9BP5IAO0
History
- On May 30, 2009 General Motors announced it would reform its European branch into a New GM Europe, which would comprise of Opel and Vauxhall.http://apps.detnews.com/apps/blogs/autosblog/index.php?blogid=788&source=nletter-business
- The GM Europe deal, supported by the German government, meant GM would keep a stake of 35%, Opel staff would get a 10% stake,[6] and the remaining 55% sold to a new partner, either FIAT or a consortium including Magna International.http://www.tagesschau.de/wirtschaft/opelmagnatreuhand100.htmlhttp://news.bbc.co.uk/2/hi/business/8074924.stmhttp://news.bbc.co.uk/2/hi/business/8075157.stm
- Two days later, on June 1, 2009, GM filed for bankruptcy. New GM Europe was not directly affected by this.http://dealbook.blogs.nytimes.com/2009/05/29/after-93-years-gm-shares-go-out-on-a-low-note/http://www.nytimes.com/2009/06/01/business/01auto.html?_r=1
- The deal with the Magna Group was agreed on September 10, 2009http://news.bbc.co.uk/2/hi/business/8247971.stm
- On November 3, 2009, the GM board decided to back out of the deal.http://abcnews.go.com/Business/wireStory?id=8861499
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Mahalo Answers for Opel on Strike
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Should GM abandon the sell of Opel? Will GM sell Opel to Vauxhall? 1 AnswerI think it is a foolish and short sighted move, they need to do a better job of intergrating Opel into the product lines and they need to stop making either or ... read more -
Will GM sell Opel to Fiat? 1 AnswerI believe that they should sell it because they are not in the usa anyways and plus it might help them or motivate them to fight bankrupcy. read more
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How many volts are in one lightening strike? 1 Answer--quote-- An average bolt of negative lightning carries an electric current of 30 kiloamperes (kA), and transfers a charge of five coulombs and 500 MJ of energ... read more
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