The Opel/GM saga has more twists than New York’s Peppermint Lounge. Yesterday, we reported that GM’s Smith & Reilly went to Berlin to beg money from German Economy Minister Rainer Bruederle. They received the cold shoulder.
Like good salesmen, they didn’t take no for an answer.
Yesterday, a spokesperson of GM said (apparently, in German…): “Our company is working under the assumption that the support that was promised by the governments for the plan worked out with Magna basically is also negotiable under the new circumstances, because the GM plan follows a similar approach.”
Then in the evening, Bruederle said on national TV that GM wants to restructure Opel all on their own, without government money, and that would be “very good news” to the Minister. He even asked for confirmation from GM, and received it. For him, the explosive Opel topic would be “defused” now. He apparently is glad the hand grenade has been removed from his lap. Until GM does the Twist again.
Update: And they sure did. Reuters just put on the wire that “General Motors reiterated on Friday it wanted state aid to help restructure European arm Opel after Germany’s economics minister said the carmaker would not ask European taxpayers for help.”
Opel labor leader Klaus Franz said today: “”It’s chaos-days at GM. It’s worse than the Bermuda Triangle. The Chairman of the Supervisory Board doesn’t know what the CEO is doing.”