Automotive News [sub] reports that GM will rush out its $4.9b restructuring plan for Opel in December, as it seeks to ease worries on the continent about the fate of the troubled division. “Our plan is very similar to Magna’s. I don’t think it’s worse,” GM’s Nick Reilly told reporters near Opel’s largest plant in Zaragoza, Spain. Reily has said that as many as 10,000 jobs and 20 to 25 percent of Opel’s production capacity could be cut in the restructuring. Though Reilly refused to indicate where cuts could take place, he did say that GM would not transfer production from Zaragoza to Eisenach in eastern Germany, as Magna had planned to do. He also previously implied that British government loans could prevent or mitigate a planned 800-job cut at Opel’s Vauxhall operations in Britain.
Tag: taxpayer funds
Pennsylvania Governor Edward G. Rendell (D) has not given up on his dream of adding toll booths on Interstate 80, a freeway that serves as a vital commercial link between New York and Chicago. On October 30, state officials filed an official memorandum to the Federal Highway Administration (FHWA) reopening the application for permission to toll the 311 mile route in order to help balance the state’s budget. “Without tolls on I-80, state lawmakers and the administration would have to plug a $473 million gap in next year’s budget, and that gap will steadily widen,” Pennsylvania Turnpike Commission Chief Executive Joe Brimmeier said in a statement.