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GM inks labor deal with workers at three German factories

  • General Motors (GM) unit Opel has signed a labor agreement with workers at its plants in Ruesselsheim, Kaiserslautern and Eisenach in Germany.
  • The deal covers 7,150 employees and guarantees job protection until 2018.
  • The inking of the contract comes as another factory in Germany, Bochum, is due to stop producing cars at the end of 2014 as part of GM's attempts to turn around its loss-making European operations.
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Comments (12)
  • micray
    , contributor
    Comments (8) | Send Message
     
    Glad the company our taxes bailed out can give job security to Germany.
    Good for them and the good ole USA. This must be the jobs produced we keep hearing about.
    2 Feb, 06:43 AM Reply Like
  • Captain Pike
    , contributor
    Comments (787) | Send Message
     
    The Bailout (Managed Bankruptcy) was an extremely smart move (bush and romney led the way amongst politicians) and has allowed a huge industry to regain it's place as a world leader. Chevy's current products are amazing. I would not be able to express my opinion here of those who wanted to let them fail.
    2 Feb, 08:23 AM Reply Like
  • BISTRO_CFO
    , contributor
    Comments (97) | Send Message
     
    Any Romney did what?
    2 Feb, 05:43 PM Reply Like
  • Captain Pike
    , contributor
    Comments (787) | Send Message
     
    On November 18, 2008 Romney wrote out the reasons why Detroit should get their bailout (managed bankruptcy), in December 2008 Bush used $17.6 Billion of TARP money to save Detroit, later on in 2009 Obummer after stalling pushed them thru a managed bankruptcy, screwing bondholders and rewarding Fiat and the UAW.

     

    Yet 4 years later the dems took all the credit, and painted Romney as an evil robber baron who wanted detroit to go out of business with total loss of jobs. The low info voters could not get past the NYT headline written by an NYT staffer on Romney's editorial.

     

    Romney took a stand. The correct one. Yet never made it clear enough in the 2012 election.
    2 Feb, 07:01 PM Reply Like
  • Snoopy1
    , contributor
    Comments (1115) | Send Message
     
    Romney's plan for GM was a work of fantasy. A managed bankruptcy wasn't possible because private capital was completely frozen in 2008 - no private equity firm or bank would loan GM money even with DIP financing.
    http://nyti.ms/1biudxP

     

    Ford's Mulally also agreed that the gov't bailout was the right thing to do.

     

    http://bit.ly/1fzJ0ss
    2 Feb, 07:05 PM Reply Like
  • Captain Pike
    , contributor
    Comments (787) | Send Message
     
    Hey snoops,

     

    IT WAS A MANAGED BANKRUPTCY!. ALL the owners lost EVERYTHING, the GM bondholders, the GM common stockholders, and Cerberus (Chryslers Owners). They all lost. It was a bankruptcy, managed by a fed judge in record time. A managed bankruptcy.

     

    Had it been a bailout, the owners would still be owners, the previous managers would still be there. They did what Romney said, DEAL WITH IT!
    2 Feb, 07:15 PM Reply Like
  • Snoopy1
    , contributor
    Comments (1115) | Send Message
     
    There was no DIP financing available from banks, private equity etc.
    Please read the NYT article by former leading investment banker and private equity executive Stephen Rattner I posted. Maybe you might learn something.
    Here are other articles about the need for the gov't to step in.
    http://lat.ms/1fzL3g5
    http://cnnmon.ie/1fzL8k1
    http://econ.st/1fPvmzB
    2 Feb, 07:19 PM Reply Like
  • Captain Pike
    , contributor
    Comments (787) | Send Message
     
    I discussed this situation at the time and the term DIP financing is for DIP's. RaTner is a little democrat _____, couldn't stand watching him on morning joe back then. There was no quantitative easing before there was, either. They were going to be saved by any means necessary and that is what Romney wrote and why Bush gave them the bridge financing handout in his last days. If anything OB1 and ratner bumbled the deal.
    2 Feb, 07:29 PM Reply Like
  • Snoopy1
    , contributor
    Comments (1115) | Send Message
     
    Fine - ignore reality.
    2 Feb, 07:30 PM Reply Like
  • Captain Pike
    , contributor
    Comments (787) | Send Message
     
    Romney nov 18, 2008 - "The American auto industry is vital to our national interest as an employer and as a hub for manufacturing."

     

    And you keep hoping for change
    2 Feb, 07:33 PM Reply Like
  • Snoopy1
    , contributor
    Comments (1115) | Send Message
     
    I listed many articles explaining why his plan was flawed and likely to destroy the auto industry. But by all means, ignore reality.
    2 Feb, 07:36 PM Reply Like
  • Captain Pike
    , contributor
    Comments (787) | Send Message
     
    Brookesley Born and Benghazi, that's all the reality needed.
    2 Feb, 07:46 PM Reply Like
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