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Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: FJB who wrote (123944)	2/13/2012 8:17:43 AM
From: lorne	2 Recommendations Respond to of 224759

FUBHO...GM..government motors/obama motors/socialist motors...in trouble again? No problem just force tax payers to bail them out again. General Motors might shut down Vauxhall's UK factory as it warns of 'horrendous' losses in Europe By Ray Massey Last updated 10th February 2012 dailymail.co.uk Fears for thousands of British jobs and the future of Vauxhall’s UK car plant have surfaced after bosses at U.S. parent company General Motors warned of ‘horrendous’ losses in Europe to be announced next week. Executives of the American car giant in Detroit say they are considering closing the Ellesmere Port factory in Cheshire as part of a major restructuring of its Vauxhall/Opel operation as it prepares to announce fourth quarter losses in excess of $300million (£190million). An Opel factory at Bochum in Germany has also been cited for potential closure. Vauxhall's Ellesmere Port factory, which employs 2,100 people might be closed as General Motors attempts to reconcile losses Executives say that there is overcapacity in Europe and that plant closures are ‘inevitable’. Bosses in Britain admit that ‘everything is on the table’ and are discussing cost-cutting measures with unions. UK union sources say they are ‘deeply concerned’ and say it would be a massive blow to the UK economy. A Vauxhall source said: ‘Everything is on the table. That includes plant closures. 'But nothing has yet been decided. Unions are being included in discussions. It is serious.’ Worries about the fate of the Ellesmere Port factory – one of the most efficient in Europe which builds the Vauxhall Astra - and its workforce surfaced after the respected Wall Street Journal quoted unnamed General Motors executives in Detroit. The newspaper published: ‘As part of the discussions, GM is considering closing assembly plants in Bochum, Germany, where it employs about 3,100 workers and Ellesmere Port, England, where it has about 2,100 workers, these people said.’ The GM official told the financial paper: ‘There is increasing frustration with Opel and a feeling that the cuts two years ago did not go nearly deep enough. 'If Opel is going to get fixed, it is going to get fixed now and the cuts are going to be deep.’ Workers leave Vauxhall's Ellesmere Port factory in 2009 after the motor giant announced it's plan to axe 900 jobs at its UK car factory and cut production Ellesmere Port builds the Vauxhall Astra Sports Tourer estate car and the 5-door Astra hatchback. Some 80 per cent of its production is exported and 20 per cent of its components are sourced in the UK. Industry sources said that when GM reports fourth-quarter results next week on Feb. 16, GM Europe's loss will be larger than the $292 million (£185m) loss of the prior quarter. However, it will be lower than the $568 million (£360million) loss of the fourth quarter of 2010. The German union IG Metall has already refused to consider immediate plant closures or job losses. General Motors in Europe has sufferd losses of nearly £9 billion sinvce 1999. Vauxhall and Opel chief executive Karl-Friedrich Stracke has told employees that cuts do need to be made with the exact measures planned to be set out after next week’s annual results. He stressed that no decisions have been made to close plants, shift vehicle production or cut jobs.