German Govt to bail out Opel

[cdxi]

More bad news for GM following their own "Imminent Collapse" spot on You Tube.

If you haven't seen it, it's worth a look just to understand the breadth of the auto industry in the US.

If GM goes belly up in 2009 (as predicted) and Opel struggles, there will be very little left of Holden.....

Here's the story.

The German government is considering a bailout for GM Europe's Adam Opel division. The German-based Opel brand has asked both federal and state governments in Germany for loan guarantees.


As GM's global financial situation deteriorates rapidly, suffering heavy losses, collapsing sales and bleeding cash, it's lack of liquidity is threatening the viability of one of Germany's oldest automakers.
Last week the German government turned down a request by Opel for 40 billion euros in guarantees to the German auto industry. But over the last few days, the government has come around to the idea that something needs to be done in order to shore up Germany's prime industrial sector.
Opel Managing Director Hans Demant told Reuters that government aid would be invested in products and manufacturing plants in Germany and would not be allocated outside of Europe.
The German business news daily Handelsblatt has also reported that government sources are saying the German state of Hesse, where Opel's Russelsheim headquarters are based, may provide some 500 million euros in loan guarantees to the trouble automaker.
A decision from Berlin is expected soon.

[EL BURITO]

Opel Managing Director Hans Demant told Reuters that government aid would be invested in products and manufacturing plants in Germany and would not be allocated outside of Europe.


well I like that bit, seeing as all of the money Rudd will have given GM will have gone to Detroit rather than being used here like it should

[bornwild]

well I like that bit, seeing as all of the money Rudd will have given GM will have gone to Detroit rather than being used here like it should

Exactly right...

[Shaun]

well I like that bit, seeing as all of the money Rudd will have given GM will have gone to Detroit rather than being used here like it should


Exactly right...

Where do you people get your miss leading information...

You have to be kidding your selves.. Do you think the Rudd Government are really going to allow that to happen. If so you have to be stupid to believe that. There will be blocks in place so that dont happen. The government has done this to keep the industry alive and so we dont end up with an unemployment level like we had back in the early to mid 90's of arround 17-18%. Not only have they bailed out Holden they have done it to Ford and Toyota. They did the same thing about 3 years ago to Mitsubishi but it feel over.

All 3 Manfactuers should be able to sustain in the market during the down turn . they may have to lay off some people but if they can keep it down to a small percentage its better then a complete lay off.

[Shaun]

**POST DELETED**


You have got to be kidding your self. I dont know what planet you live on but the United States Government is working on a deal to bail out the Car Manfacturers in the United States .

The money wont be leaving our shores. The Australian governement makes money out of the export of cars overseas. Therefore its in there best interest to block any movement of funds to GM in the USA. Stop living in a dream world. If anything the Australian Government is being proactive as is the reserve bank to soften the blow of a recession in australia if we end up in one which is very likely as the world financial crisis is like a wave it will travel right round the world.

[bornwild]

Last time I heard, the US don't have the money to buy toilett paper, yet alone bail out anything.

[Shaun]

Last time I heard, the US don't have the money to buy toilett paper, yet alone bail out anything.

Thats how much you know. they have trillions tucked away. The Govenment after the great depression started tucking funds away incase of another econmical melt down like the current situation. How the **** do you think they planned to bail out "Wall Street"???

Just out of interest Bornwild. When was the last time you were in the United States or out of interest how many people do you know who live in the United States?

[bornwild]

Let me check, I've never been in the US and I know about ~20 people who live in the US(California and Pennsylvania).

Wow, you work for CIA Shaun? The USA has $90,000 worth of loans from around the world per person.(~260 million residents). That's a lot of money...

[Shaun]

Let me check, I've never been in the US and I know about ~20 people who live in the US(California and Pennsylvania).

Wow, you work for CIA Shaun? The USA has $90,000 worth of loans from around the world per person.(~260 million residents). That's a lot of money...

Were talking about the Amercian Government having the funds. Not the American People. Are you hard of reading or something. Do i need to put it in a picutre book form for you or something.

[bornwild]

**POST EDITED**

The American Government has $90,000 worth of loans per person living in the USA.

And because the US is a Democratic country, the people are the Government, right? ;)

Goodnight, we'll continue tomorrow.

[Shaun]

** POST EDITED **

The American Government has $90,000 worth of loans per person living in the USA.

And because the US is a Democratic country, the people are the Government, right? ;)

Goodnight, we'll continue tomorrow.


It still stand the Australian Government has bailed out the Australian Arm of GM . Likewise with Ford. Like wise with Toyota. And the bases of this is to keep the " AUSTRALIAN " ecconomy along with keeping unemployment figures lower during this down turn. Why is it so hard to understand thats what its all about. Not sending funds off to the United States .

Based on the theory of GM USA taking the funds for them selves your basically sayinig that the funds could be shifted to GM Europe to top up whats needed on top of what the German Government has chipped in there.

How is it that Opel has said that the funds will be staying in Germany which you believe becuase its wriiten in an article but the funds issued buy the Australian Government to GM-H will be off loaded off shore which hasnt not once been mentioned in the media at any stage.

[Vectracious]

Will the two of you stop turning any thread you both contribute to into a name calling shit fight?

People are sick of it.

[GreyRex]

Will the two of you stop turning any thread you both contribute to into a name calling shit fight?

People are sick of it.

Thankyou

[kilcoy]

Will the two of you stop turning any thread you both contribute to into a name calling shit fight?

People are sick of it.

i agree also...its so immature. respect each other opinions and leave it at that.

[Wraith]

Agree - enough crap and profanity - there's no need for it guys !

People should be able to express their views, give their opinions, etc. etc. without profanity or insults !

Anyway back on topic, does anyone really know more about what's going on regarding GM, would be a shame if they are headed towards extinction, what would happen to all of their product line ??? :(

[Huhness]

Agree - enough crap and profanity - there's no need for it guys !

People should be able to express their views, give their opinions, etc. etc. without profanity or insults !

Anyway back on topic, does anyone really know more about what's going on regarding GM, would be a shame if they are headed towards extinction, what would happen to all of their product line ??? :(
I think if it does get bad enough they will be bought by Asian or Indian companies, they are the next world power.

[Calibrated]

I think if it does get bad enough they will be bought by Asian or Indian companies, they are the next world power.
its rediculous how much money tata has, when you look at the shit cars they build.

[Huhness]

They also own Satyam.

[sooty]

its rediculous how much money tata has, when you look at the shit cars they build.

Ratan Tata (the bloke:p) is worth $78 BILLION!!!!! :eek:

[USC]

its rediculous how much money tata has, when you look at the shit cars they build.

thats why they have so much money..they build shit cheap cars. They also make trucks, buses, train engines, and all sorts of things, including Pay TV, electrics...lol

[ASTRAY]

i agree with what shaun says about the money staying here and about blocks being in place.
(though iit doesnt really have to be funds that are sent to help out parent companies, it could be products sent for free, ie aussie built cars)

but i dont see how not knowing someone from the usa, or not having visited the usa, can stop you from knowing about the usa's financial situation.

just about everything gets reported on by the media in some form these days, and i feel there in lies part of our current problem.
media report losses and make it out to be a huge disaster, people sell off stocks, stocks lose value, down goes the company.

remove the media from the equation and you will have less people worrying and selling, and therefore less value loss.

[OPC]

Will the two of you stop turning any thread you both contribute to into a name calling shit fight?

People are sick of it.

im not... its enjoyable reading...

[bornwild]

Anyway back on topic, does anyone really know more about what's going on regarding GM, would be a shame if they are headed towards extinction, what would happen to all of their product line ??? :(

I just read an article, Wagoner took a private jet to Washington to plead for financial aid for GM. Now, people like this Wagoner bloke are the very reason we have a financial crisis and the very reason GM is going down(deservedly). Did you know that Bob Lutz can make a car happen or go down with just a twitch of his eye? No, seriously...GM starts hundreds of research projects a year and most get cancelled. That's hundreds of millions invested into research being just cancelled.....

There you go, that's what GM is.:)

[Huhness]

Carmakers need to go back to 10 year model runs. or longer.. it costs them too much to constantly design brand new cars.. down the track add new features give it a facelift but don't spend billions on a completely new car 4-5 years down the track!

GM USA and Ford USA are very poorly managed. Build bigger SUVs people want SUVs and trucks more trucks!! What??? No one wants huge SUVs or Trucks anymore! What is this, 1990?? Oh wait wake up and look around!

But both Euro siblings are doing GREAT! Maybe they arn't making money at the moment but i'm sure if they were not being leeched by their american big sisters they could easily ride this financial crisis out and still keep making cars..

I hope the big 3 learn something from this BUT I doubt anything will change.