German economy minister criticizes GM over Fritz Henderson’s departure

With General Motors Co. CEO Fritz Henderson’s sudden departure and GM’s presentation of a far-from-complete restructuring plan for Opel and Vauxhall comes the expected criticism from German Economy Minister Rainer Bruederle.

Last Wednesday, Bruederle said that these facts confirm that “there is no clear line at GM.” With regards to GM’s signal that it will be contributing about 600 million euros ($904.3 million) of its own cash to restructure its Opel carmaking unit and that it wants the rest to be provided by European taxpayers, Bruederle would say that the paper submitted is not an application for state funds and cannot serve as the basis for making an assessment of one.
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freeagent - 12/3/2009 3:40:13 PM

0 Boost

gotta love it. GM Chairman and Board nixes Henderson's plan to sell Opel to Magna, then GM tosses Henderson out, and now Germany is madder than ever at GM that Opel is left flapping in the breeze. Maybe the US taxpayers should bail them out also so that we can subsidize high cost unions everywhere

avanti64 - 12/3/2009 10:53:31 PM

+2 Boost

Hell, he's mad because the guy's name was Fritz.