Berlin continues to spin its wheels over Opel's future
The tug-of-war over European carmaker Opel seems set to continue after talks between Opel's troubled parent company General Motors and the German government ended inconclusively on Tuesday.
General Motors' chief negotiator, John Smith, was in Berlin Tuesday to talk about the future of Opel. GM reportedly used the meeting to assure the German government Tuesday that it still may sell Opel, an unnamed German government source told the Associated Press. Yet other media reports that GM is looking for ways to hold onto Opel after all. The Wall Street Journal said that General Motors' new board of directors has ordered management to consider new options for Opel, including finding three billion euros ($4.3 billion) in funding to overhaul GM's European operations rather than sell them. The newspaper cited three unnamed sources familiar with the matter as saying that GM Chief Executive Frederick "Fritz" Henderson had been instructed to prepare a new financial plan ahead of the US carmaker's next board meeting in early September. Meanwhile, The Financial Times reports that GM is exploring ways of securing funding from the British, Spanish and US governments in a deal its source described as "feasible if complex". A leading German labor representative said he hopes General Motors will make a decision about the future of Opel by Wednesday morning. Armin Schild, the leader of the IG Metall union in the state of Hesse, where Opel has its headquarters, said the fact that GM's options for Opel had come to light ahead of an official announcement means that they may be under serious consideration. "I see that as a bad sign for the future of Opel," Schild told German public television station ZDF. Magna rejection The reports follow a meeting last Friday in which GM's board rejected Henderson's recommendation that Opel be sold to a consortium consisting of Canadian auto parts manufacturer Magna, Russian state-owned lender Sberbank and Russian carmaker GAZ. The move was an embarrassment to the German government, which has offered to throw 4.5 billion euros ($6.4 billion) worth of financial support behind the Magna bid. Lawmakers and unions fear that the rival offer from Belgian-based investment group RHJ International could lead to widespread job losses in Germany, which is home to about half of GM's 55,000-strong European workforce. But GM's board is reported to be wary of the Magna deal because it could see valuable technological know-how end up in the hands of its Russian competitors. Meanwhile, the absence of a foothold in Europe could harm the GM in the long run by leaving the company overly dependent on North American and Chinese markets. Sale or no sale, German Finance Minister Peer Steinbrueck suspects that GM favors the RHJ bid because managers in Detroit aim to maintain control of Opel in the long term. "My impression is that some people at the heart of GM management prefer the RHJ International offer because it would make it easier to buy back Opel in a few years time," Steinbrueck told the Handelsblatt financial newspaper. "Magna, in our view, has a clear industrial strategy, not just a plan for short-term gain and that is why the government will not give any financial aid to RHJ," he said. "Aid will only be given to Magna." sje/dpa/AP/Reuters Editor: Chuck Penfold/Trinity Hartman
Berlin
Berlin Humboldt_University_of_Berlin Berlin_(band) German_Open_(WTA) Berlin,_New_Hampshire Berlin_Hauptbahnhof Olympiastadion_(Berlin) Berlin,_Connecticut Berlin_International_Film_Festival Berlin,_Maryland Berlin_(Lou_Reed_album) Berlin,_New_Jersey Berlin,_Massachusetts Berlin,_Wisconsin East_Berlin Battle_of_Berlin
Opel
Opel Opel_(album) Isuzu_Gemini Opel_India Opel_Olympia Opel_Kadett Opel_Astra Opelwerk_Brandenburg Zakspeed Fritz_von_Opel OPEL_Networks Spiess_Tuning General_Motors_54°_V6_engine Opel_Rekord Opel_Blitz Opel_1.2_litre
European
carmaker
Opel
Opel Opel_(album) Isuzu_Gemini Opel_India Opel_Olympia Opel_Kadett Opel_Astra Opelwerk_Brandenburg Zakspeed Fritz_von_Opel OPEL_Networks Spiess_Tuning General_Motors_54°_V6_engine Opel_Rekord Opel_Blitz Opel_1.2_litre
Opel
Opel Opel_(album) Isuzu_Gemini Opel_India Opel_Olympia Opel_Kadett Opel_Astra Opelwerk_Brandenburg Zakspeed Fritz_von_Opel OPEL_Networks Spiess_Tuning General_Motors_54°_V6_engine Opel_Rekord Opel_Blitz Opel_1.2_litre
company
General Motors
General_Motors Electro-Motive_Diesel General_Motors_Canada GMC_(automobile) General_Motors_railway_station General_Motors_Diesel_Division List_of_GM_transmissions Holden General_Motors_India Motors_Liquidation_Company General_Motors_Diesel General_Motors_Chapter_11_reorganization General_Motors_of_Canada_Ltd_v_City_National_Leasing GM_New_Look_bus General_Motors_Research_Laboratories Holden_New_Zealand
German
General Motors
General_Motors Electro-Motive_Diesel General_Motors_Canada GMC_(automobile) General_Motors_railway_station General_Motors_Diesel_Division List_of_GM_transmissions Holden General_Motors_India Motors_Liquidation_Company General_Motors_Diesel General_Motors_Chapter_11_reorganization General_Motors_of_Canada_Ltd_v_City_National_Leasing GM_New_Look_bus General_Motors_Research_Laboratories Holden_New_Zealand
chief negotiator
John Smith
John_Smith_(Labour_Party_leader) John_Smith_(explorer) John_Smith_(actor) John_Smith_(New_York_politician,_born_1752) John_Smith_(comics_writer) John_Smith_(uncle_of_Joseph_Smith) John_Smith_(Virginia_representative) John_Smith_(Chancellor_of_the_Exchequer) John_Smith_(architect) John_Smith_(sprinter) John_Smith_(wrestler) John_Smith_(Wendover_MP) John_Smith_(Ohio_politician,_died_1824) John_Smith_(South_African_rower) John_Smith_(nephew_of_Joseph_Smith) John_Smith_(Welsh_politician)
Berlin
Berlin Humboldt_University_of_Berlin Berlin_(band) German_Open_(WTA) Berlin,_New_Hampshire Berlin_Hauptbahnhof Olympiastadion_(Berlin) Berlin,_Connecticut Berlin_International_Film_Festival Berlin,_Maryland Berlin_(Lou_Reed_album) Berlin,_New_Jersey Berlin,_Massachusetts Berlin,_Wisconsin East_Berlin Battle_of_Berlin
Tuesday
Opel
Opel Opel_(album) Isuzu_Gemini Opel_India Opel_Olympia Opel_Kadett Opel_Astra Opelwerk_Brandenburg Zakspeed Fritz_von_Opel OPEL_Networks Spiess_Tuning General_Motors_54°_V6_engine Opel_Rekord Opel_Blitz Opel_1.2_litre
GM
General_Motors Grandmaster_(chess) George_Medal General_manager General_MIDI Gamemaster German_language General_manager_(baseball) General_manager_(American_football) Gigametre Genetic_engineering G_minor Gmunden_District Göttinger_Miszellen General_manager_(sports) Commonwealth_Railways_GM_class
German
Tuesday
Opel
Opel Opel_(album) Isuzu_Gemini Opel_India Opel_Olympia Opel_Kadett Opel_Astra Opelwerk_Brandenburg Zakspeed Fritz_von_Opel OPEL_Networks Spiess_Tuning General_Motors_54°_V6_engine Opel_Rekord Opel_Blitz Opel_1.2_litre
German
Associated Press
Associated_Press AP_Poll Associated_Press_College_Basketball_Player_of_the_Year Associated_Press_College_Football_Coach_of_the_Year_Award Associated_Press_College_Basketball_Coach_of_the_Year Associated_Press_Athlete_of_the_Year AP_Newsfeatures College_Football_All-America_Team 2004_NCAA_Division_I-A_football_rankings Associated_Press_NFL_Coach_of_the_Year_Award Associated_Press_NFL_Rookie_of_the_Year_Award Associated_Press_NFL_Most_Valuable_Player_Award Associated_Press_of_Pakistan
GM
General_Motors Grandmaster_(chess) George_Medal General_manager General_MIDI Gamemaster German_language General_manager_(baseball) General_manager_(American_football) Gigametre Genetic_engineering G_minor Gmunden_District Göttinger_Miszellen General_manager_(sports) Commonwealth_Railways_GM_class
Opel
Opel Opel_(album) Isuzu_Gemini Opel_India Opel_Olympia Opel_Kadett Opel_Astra Opelwerk_Brandenburg Zakspeed Fritz_von_Opel OPEL_Networks Spiess_Tuning General_Motors_54°_V6_engine Opel_Rekord Opel_Blitz Opel_1.2_litre
The Wall Street Journal
The_Wall_Street_Journal Wall_Street_Journal_prime_rate
General Motors
General_Motors Electro-Motive_Diesel General_Motors_Canada GMC_(automobile) General_Motors_railway_station General_Motors_Diesel_Division List_of_GM_transmissions Holden General_Motors_India Motors_Liquidation_Company General_Motors_Diesel General_Motors_Chapter_11_reorganization General_Motors_of_Canada_Ltd_v_City_National_Leasing GM_New_Look_bus General_Motors_Research_Laboratories Holden_New_Zealand
Opel
Opel Opel_(album) Isuzu_Gemini Opel_India Opel_Olympia Opel_Kadett Opel_Astra Opelwerk_Brandenburg Zakspeed Fritz_von_Opel OPEL_Networks Spiess_Tuning General_Motors_54°_V6_engine Opel_Rekord Opel_Blitz Opel_1.2_litre
three billion euros
$4.3 billion
GM
General_Motors Grandmaster_(chess) George_Medal General_manager General_MIDI Gamemaster German_language General_manager_(baseball) General_manager_(American_football) Gigametre Genetic_engineering G_minor Gmunden_District Göttinger_Miszellen General_manager_(sports) Commonwealth_Railways_GM_class
European
GM
General_Motors Grandmaster_(chess) George_Medal General_manager General_MIDI Gamemaster German_language General_manager_(baseball) General_manager_(American_football) Gigametre Genetic_engineering G_minor Gmunden_District Göttinger_Miszellen General_manager_(sports) Commonwealth_Railways_GM_class
Chief Executive
Frederick "Fritz" Henderson
US
United_States Billboard_200 Billboard_Hot_100 Recording_Industry_Association_of_America United_States_dollar Nielsen_SoundScan Billboard_charts Hot_Country_Songs Unincorporated_territories_of_the_United_States Billboard_(magazine) Dance_Club_Songs Federal_government_of_the_United_States American_English RIAA_Certification .us Us_(Peter_Gabriel_album)
September
The Financial Times
Financial_Times
GM
General_Motors Grandmaster_(chess) George_Medal General_manager General_MIDI Gamemaster German_language General_manager_(baseball) General_manager_(American_football) Gigametre Genetic_engineering G_minor Gmunden_District Göttinger_Miszellen General_manager_(sports) Commonwealth_Railways_GM_class
British
Spanish
US
United_States Billboard_200 Billboard_Hot_100 Recording_Industry_Association_of_America United_States_dollar Nielsen_SoundScan Billboard_charts Hot_Country_Songs Unincorporated_territories_of_the_United_States Billboard_(magazine) Dance_Club_Songs Federal_government_of_the_United_States American_English RIAA_Certification .us Us_(Peter_Gabriel_album)
German
General Motors
General_Motors Electro-Motive_Diesel General_Motors_Canada GMC_(automobile) General_Motors_railway_station General_Motors_Diesel_Division List_of_GM_transmissions Holden General_Motors_India Motors_Liquidation_Company General_Motors_Diesel General_Motors_Chapter_11_reorganization General_Motors_of_Canada_Ltd_v_City_National_Leasing GM_New_Look_bus General_Motors_Research_Laboratories Holden_New_Zealand
Opel
Opel Opel_(album) Isuzu_Gemini Opel_India Opel_Olympia Opel_Kadett Opel_Astra Opelwerk_Brandenburg Zakspeed Fritz_von_Opel OPEL_Networks Spiess_Tuning General_Motors_54°_V6_engine Opel_Rekord Opel_Blitz Opel_1.2_litre
Wednesday
Armin Schild
IG Metall
IG_Metall
Hesse
Hesse Landgraviate_of_Hesse Grand_Duchy_of_Hesse House_of_Hesse People's_State_of_Hesse Electorate_of_Hesse Landgraviate_of_Hesse-Kassel Hermann_Hesse Hessian_Football_Association Hessian_Cup Hesse,_Moselle Landtag_of_Hesse Uwe_Hesse Hesse,_Victoria Province_of_Kurhessen Otto_Hesse
Opel
Opel Opel_(album) Isuzu_Gemini Opel_India Opel_Olympia Opel_Kadett Opel_Astra Opelwerk_Brandenburg Zakspeed Fritz_von_Opel OPEL_Networks Spiess_Tuning General_Motors_54°_V6_engine Opel_Rekord Opel_Blitz Opel_1.2_litre
GM
General_Motors Grandmaster_(chess) George_Medal General_manager General_MIDI Gamemaster German_language General_manager_(baseball) General_manager_(American_football) Gigametre Genetic_engineering G_minor Gmunden_District Göttinger_Miszellen General_manager_(sports) Commonwealth_Railways_GM_class
Opel
Opel Opel_(album) Isuzu_Gemini Opel_India Opel_Olympia Opel_Kadett Opel_Astra Opelwerk_Brandenburg Zakspeed Fritz_von_Opel OPEL_Networks Spiess_Tuning General_Motors_54°_V6_engine Opel_Rekord Opel_Blitz Opel_1.2_litre
Opel
Opel Opel_(album) Isuzu_Gemini Opel_India Opel_Olympia Opel_Kadett Opel_Astra Opelwerk_Brandenburg Zakspeed Fritz_von_Opel OPEL_Networks Spiess_Tuning General_Motors_54°_V6_engine Opel_Rekord Opel_Blitz Opel_1.2_litre
Schild
Alfred_Schild Schild
German
ZDF
ZDF
Magna
Magna,_Utah Magna_International Honda_Magna Magna_(paint) Mitsubishi_Magna Magna_(bicycle_company) Magna_Science_Adventure_Centre Magna_(moth) Mana_(patriarch) Magna_Home_Entertainment Magna_Corporation Harlow_(Magna_film) Magna_cum_laude
Friday
GM
General_Motors Grandmaster_(chess) George_Medal General_manager General_MIDI Gamemaster German_language General_manager_(baseball) General_manager_(American_football) Gigametre Genetic_engineering G_minor Gmunden_District Göttinger_Miszellen General_manager_(sports) Commonwealth_Railways_GM_class
Henderson
Henderson,_Nevada Henderson,_Kentucky Henderson_County,_Texas Henderson,_Texas Henderson,_New_Zealand Henderson,_North_Carolina Henderson_County,_North_Carolina Henderson_County,_Kentucky National_Register_of_Historic_Places_listings_in_Henderson_County,_Tennessee Jim_Henderson_(baseball) Henderson,_Tennessee Henderson_County,_Tennessee Henderson,_Minnesota Henderson_County,_Illinois Henderson,_New_York Henderson,_Western_Australia
Opel
Opel Opel_(album) Isuzu_Gemini Opel_India Opel_Olympia Opel_Kadett Opel_Astra Opelwerk_Brandenburg Zakspeed Fritz_von_Opel OPEL_Networks Spiess_Tuning General_Motors_54°_V6_engine Opel_Rekord Opel_Blitz Opel_1.2_litre
Canadian
auto parts manufacturer
Magna
Magna,_Utah Magna_International Honda_Magna Magna_(paint) Mitsubishi_Magna Magna_(bicycle_company) Magna_Science_Adventure_Centre Magna_(moth) Mana_(patriarch) Magna_Home_Entertainment Magna_Corporation Harlow_(Magna_film) Magna_cum_laude
Russian
state-owned lender
Sberbank
Sberbank_of_Russia
Russian
carmaker
GAZ
GAZ Gaziantepspor Gaz,_Iran CS_Gaz_Metan_Mediaș Gazélec_Ajaccio Guz FC_Orenburg Gaz_Coombes Gaz_Khozestan_FSC Gaz,_Kyrgyzstan Gaz_(candy) Gaziantep_Basketbol Serres_F.C. Gaz_(Invader_Zim) Gaz,_Hormozgan Gaz,_Golestan
German
4.5 billion euros
$6.4 billion
Magna
Magna,_Utah Magna_International Honda_Magna Magna_(paint) Mitsubishi_Magna Magna_(bicycle_company) Magna_Science_Adventure_Centre Magna_(moth) Mana_(patriarch) Magna_Home_Entertainment Magna_Corporation Harlow_(Magna_film) Magna_cum_laude
Belgian
investment group
RHJ International
BHF_Kleinwort_Benson_Group
Germany
Germany Germany_national_football_team Nazi_Germany German_Empire Germany_women's_national_football_team Weimar_Republic German_Football_Association ISU_Junior_Grand_Prix_in_Germany GfK_Entertainment_Charts Germany_national_youth_football_team A1_Team_Germany Germany_national_rugby_union_team Kingdom_of_Germany German_literature Germany_men's_national_ice_hockey_team Same-sex_marriage_in_Germany
GM
General_Motors Grandmaster_(chess) George_Medal General_manager General_MIDI Gamemaster German_language General_manager_(baseball) General_manager_(American_football) Gigametre Genetic_engineering G_minor Gmunden_District Göttinger_Miszellen General_manager_(sports) Commonwealth_Railways_GM_class
European
GM
General_Motors Grandmaster_(chess) George_Medal General_manager General_MIDI Gamemaster German_language General_manager_(baseball) General_manager_(American_football) Gigametre Genetic_engineering G_minor Gmunden_District Göttinger_Miszellen General_manager_(sports) Commonwealth_Railways_GM_class
Magna
Magna,_Utah Magna_International Honda_Magna Magna_(paint) Mitsubishi_Magna Magna_(bicycle_company) Magna_Science_Adventure_Centre Magna_(moth) Mana_(patriarch) Magna_Home_Entertainment Magna_Corporation Harlow_(Magna_film) Magna_cum_laude
Russian
Europe
Europe UEFA Europe_(band) UEFA_competitions European_Athletic_Association European_theatre_of_World_War_II European_Union Europe_(dinghy) European_Cricket_Council UEFA_Champions_League Senior_League_World_Series_(Europe–Africa_Region) Big_League_World_Series_(Europe–Africa_Region) Sailing_at_the_2004_Summer_Olympics_–_Europe Neolithic_Europe History_of_Europe Europe_(magazine)
GM
General_Motors Grandmaster_(chess) George_Medal General_manager General_MIDI Gamemaster German_language General_manager_(baseball) General_manager_(American_football) Gigametre Genetic_engineering G_minor Gmunden_District Göttinger_Miszellen General_manager_(sports) Commonwealth_Railways_GM_class
North American
Chinese
German
Finance Minister
Peer Steinbrueck
GM
General_Motors Grandmaster_(chess) George_Medal General_manager General_MIDI Gamemaster German_language General_manager_(baseball) General_manager_(American_football) Gigametre Genetic_engineering G_minor Gmunden_District Göttinger_Miszellen General_manager_(sports) Commonwealth_Railways_GM_class
RHJ
Detroit
Detroit Detroit_Pistons Detroit_Shock Detroit_Red_Wings Detroit_Mercy_Titans_men's_basketball Detroit_Tigers Detroit_Lions 2015–16_Detroit_Pistons_season Detroit_(film) 2016–17_Detroit_Pistons_season 1987–88_Detroit_Pistons_season 2017–18_Detroit_Pistons_season 2017–18_Detroit_Red_Wings_season 2007–08_Detroit_Pistons_season 2006–07_Detroit_Pistons_season 2005–06_Detroit_Pistons_season
Opel
Opel Opel_(album) Isuzu_Gemini Opel_India Opel_Olympia Opel_Kadett Opel_Astra Opelwerk_Brandenburg Zakspeed Fritz_von_Opel OPEL_Networks Spiess_Tuning General_Motors_54°_V6_engine Opel_Rekord Opel_Blitz Opel_1.2_litre
GM
General_Motors Grandmaster_(chess) George_Medal General_manager General_MIDI Gamemaster German_language General_manager_(baseball) General_manager_(American_football) Gigametre Genetic_engineering G_minor Gmunden_District Göttinger_Miszellen General_manager_(sports) Commonwealth_Railways_GM_class
RHJ International
BHF_Kleinwort_Benson_Group
Opel
Opel Opel_(album) Isuzu_Gemini Opel_India Opel_Olympia Opel_Kadett Opel_Astra Opelwerk_Brandenburg Zakspeed Fritz_von_Opel OPEL_Networks Spiess_Tuning General_Motors_54°_V6_engine Opel_Rekord Opel_Blitz Opel_1.2_litre
Steinbrueck
Handelsblatt
Handelsblatt
Magna
Magna,_Utah Magna_International Honda_Magna Magna_(paint) Mitsubishi_Magna Magna_(bicycle_company) Magna_Science_Adventure_Centre Magna_(moth) Mana_(patriarch) Magna_Home_Entertainment Magna_Corporation Harlow_(Magna_film) Magna_cum_laude
RHJ
Magna
Magna,_Utah Magna_International Honda_Magna Magna_(paint) Mitsubishi_Magna Magna_(bicycle_company) Magna_Science_Adventure_Centre Magna_(moth) Mana_(patriarch) Magna_Home_Entertainment Magna_Corporation Harlow_(Magna_film) Magna_cum_laude
sje/dpa/AP/Reuters Editor: Chuck Penfold/Trinity Hartman
Opel
Opel
iptc::20000170 sector::20000296 slot::keyword topic::business type::company type::entity type::organization
General Motors
General_Motors
iptc::20000170 sector::20000296 slot::keyword topic::business type::company type::entity type::organization
Berlin
Berlin
slot::in slot::keyword topic::none type::entity type::gpe type::gpe2 type::location
RHJ International
BHF_Kleinwort_Benson_Group
iptc::20000170 sector::20000280 slot::keyword topic::business type::company type::entity type::organization
John Smith
John_F._Smith_Jr.
gender::male iptc::20000170 slot::keyword topic::business type::entity type::manager type::person
Frederick "Fritz" Henderson
Frederick_Henderson
gender::male iptc::20000170 topic::business type::entity type::manager type::person
Armin Schild
wikidata:Q15783979
gender::male topic::labour type::entity type::person type::union_rep
Peer Steinbrueck
Peer_Steinbrück
gender::male iptc::11000000 policy::finance topic::politics type::entity type::minister type::person type::politician
European
topic::none type::loc-x type::other
carmaker
topic::none type::role type::value
company
topic::none type::role type::value
German
topic::none type::gpe0-x type::other
chief negotiator
topic::none type::role type::value
Tuesday
topic::none type::time type::value
Associated Press
Associated_Press
topic::media type::entity type::media type::organization
The Wall Street Journal
The_Wall_Street_Journal
topic::media type::entity type::media type::organization
three billion euros
topic::none type::money type::value
$4.3 billion
topic::none type::money type::value
Chief Executive
topic::none type::role type::value
US
United_States
topic::none type::entity type::gpe type::gpe0 type::location
September
topic::none type::time type::value
The Financial Times
Financial_Times
topic::media type::entity type::media type::organization
British
topic::none type::gpe0-x type::other
Spanish
topic::none type::gpe0-x type::other
Wednesday
topic::none type::time type::value
IG Metall
IG_Metall
topic::labour type::entity type::organization type::union
Hesse
Hesse
topic::none type::entity type::gpe type::gpe1 type::location
ZDF
ZDF
topic::media type::entity type::media type::organization
Magna
Magna_International
iptc::20000170 sector::20000296 topic::business type::company type::entity type::organization
Friday
topic::none type::time type::value
Canadian
topic::none type::gpe0-x type::other
auto parts manufacturer
topic::none type::role type::value
Russian
topic::none type::gpe0-x type::other
state-owned lender
topic::none type::role type::value
Sberbank
Sberbank_of_Russia
iptc::20000170 sector::20000274 topic::business type::company type::entity type::organization
GAZ
GAZ
iptc::20000170 sector::20000296 topic::business type::company type::entity type::organization
4.5 billion euros
topic::none type::money type::value
$6.4 billion
topic::none type::money type::value
Belgian
topic::none type::gpe0-x type::other
investment group
topic::none type::role type::value
Germany
Germany
slot::in topic::none type::entity type::gpe type::gpe0 type::location
Europe
Europe
topic::none type::entity type::location type::regio
North American
topic::none type::loc-x type::other
Chinese
topic::none type::gpe0-x type::other
Finance Minister
topic::none type::role type::value
Detroit
Detroit
topic::none type::entity type::gpe type::gpe2 type::location
Handelsblatt
Handelsblatt
topic::media type::entity type::media type::organization
sje/dpa/AP/Reuters Editor: Chuck Penfold/Trinity Hartman
topic::none type::footer type::other
Belgium
United_Kingdom
China
Russia
Canada
Spain