|
GM must present Opel plan quickly
Merkel says GM must present Opel plan quickly
Posted on Tuesday, November 10th, 2009 at 2:26 PM EST. (Employee News)
German Chancellor Angela Merkel said General Motors Co. should present a restructuring plan for its Opel unit soon, adding the U.S. automaker would have to shoulder most of the cost, Reuters reported.
“We expect GM to present a reliable plan for Opel quickly,” Merkel said in a speech on Tuesday as she laid out her policy agenda for her second term in government. “This solution can only work if GM takes over the lion’s share of the restructuring costs, which also means that it has to pay back the bridging loan,” she said and the news service reported.
The 1.5 billion euro ($2.25 billion) bridge loan Germany awarded GM to save Opel from being sucked into GM’s bankruptcy earlier this year is due by the end of the month, the story said. (Reuters)
__________________
Rick
Nitro Year: 2007 (1 of 113,000 sold)
Nitro Model: R/T 4X4 Stone White
CAT-BACK Exhaust, CAI, Projector Head Lamps
Fully-Equipped w/all factory options
|
Linear Mode
