InfoAnda - Fiat's grand plans hit resistance

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Libya: Journalists missing as international community pledges stronger reprisals | 17 March 2011
Latin pop icon Ricky Martin tells fans he is gay | 30 March 2010
Shooting inside Madagascar presidency: AFP | 17 March 2009

Ailing JAL faces bankruptcy option: report | 28 December 2009

">Forum Views () ">Forum Replies ()

Read more with google mobile : Fiat's grand plans hit resistance

Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: Fiat's grand plans hit resistance AFP - Wednesday, May 6 BERLIN (AFP) - - A drive by Italy's Fiat to create a global car giant from the remnants of General Motors in Europe and Chrysler hit the skids on Tuesday as fierce resistance emerged on both sides of the Atlantic. ADVERTISEMENT Unions expressed fears that Fiat head Sergio Marchionne would close plants and slash thousands of jobs if what he calls his "marriage made in heaven" to form the world's second-biggest automaker after Toyota becomes reality. Marchionne told the German daily Bild that he would not close any factories in Germany, where GM Europe employs about half of its 56,000 European workers at Opel. But he added: "Opel can never make money in its current size, and if you don't make money you won't survive.... The workforce of course has to be reduced. No one can change that." "Statements like this are 10 a penny," Rainer Einenkel, head of the works council at Opel's Bochum plant in Germany, said on NDR public radio. In Britain, the head the country's main carworkers' union Unite said he feared that Vauxhall -- part of GM Europe, employing over 5,000 workers in Britain -- could be "given away" if Marchionne got his way. "Quite frankly this move sends shivers down my spine.... These proposals are not so much a sale as a giveaway," Unite joint general secretary Tony Woodley said. Unions were unhappy too in Italy, where Fiat is by far the country's biggest private sector employer, paying the wages of more than 82,000 people including 30,000 in its auto division at five assembly plants. Fresh from securing a 20-percent stake in the bankrupt Chrysler last week, Marchionne also has his eye on snapping up GM's European business to create a new giant making between six and seven million vehicles every year. GM is expected by analysts to follow fellow Detroit "Big Three" behemoth Chrysler into bankruptcy soon and has been trying to offload some of its European operations, based on Opel and Vauxhall, for some time. Industry sources told AFP on Tuesday that Fiat is also looking at snapping up GM's operations in Latin America where the US firm sold 1.2 million vehicles last year. On Monday a smiling Marchionne was in Berlin touting his plans to ministers in the hope that the German government would help the takeover become reality with state guarantees that one newspaper defined as a "dowry." German ministers were somewhat sceptical too, with Economy Minister Karl-Theodor zu Guttenberg saying that although Fiat's plans were "interesting" he needed more details and that there were other interested parties. Hendrik Hering, economy minister in the state Rhineland-Palatinate where Opel employs 3,000 people at an engine factory that might not form part of Marchionne's vision, went further, calling Fiat's scheme "unacceptable." German Chancellor Angela Merkel's government has reportedly drawn up a 14-point list of criteria that any buyer of GM Europe has to fulfil before Berlin opens its cheque book. Frank Schwope, auto analyst at NordLB bank, said that Fiat also has its work cut out winning over GM executives in Detroit to its idea, telling AFP that "GM, at the most, will allow Fiat to take a minority stake in Opel." Germany's press also gave Fiat's plans a cool reception, with a Sueddeutsche Zeitung editorial calling them "far too ambitious". The Frankfurter Allgemeine warned though that Opel is "not entitled to issue big-mouthed demands." Fiat is also not the only show in town. The Financial Times reported that as many as six others including sovereign wealth funds from Abu Dhabi and Singapore and three private equity groups were eyeing GM Europe too. Also waiting in the wings is Canadian car parts giant Magna, reportedly teaming up with Russian automaker GAZ, controlled by billionaire Oleg Deripaska, and Russia's biggest lender Sberbank. Events on the other side of the Atlantic may also cause Marchionne a headache, with a group of disgruntled Chrysler creditors launching a bid on Monday to block the US firm's "illegal" and "fatally flawed" restructuring. Under a plan announced on Thursday by US President Barack Obama, Chrysler aims for a "surgical" bankruptcy to wipe out a portion of its debts, allowing the creation of a new firm owned by unions, governments -- and Fiat. Email Story IM Story Printable View Blog This Enlarge Photo A drive by Italy's Fiat to create a global car giant from the Opel end of General Motors with Chrysler hit the skids on Tuesday as fierce resistance emerged on both sides of the Atlantic. Most Popular – Top Stories Viewed US banks may need more funds Court okays breast removal for transsexual teen: report Kenyan women to sex-starve men -- for politics Swine flu in decline: Mexico Brain abnormality found in autistic tots: report View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

Other News on Tuesday, 5 May 2009
Panama's president-elect to push U.S. trade deal | International |
North Korea cool to resuming nuclear talks | International |
Karzai registers for election, running mate criticized | International |
Iran shells Iraqi Kurdistan village | International |
U.N. talks on troubled nuclear arms pact show split | International |
Fight against pirates also needed ashore: U.S. Navy | International |
BlackBerry Curve seen better than iPhone | Technology |
RIM plans next-gen Storm as it eyes untapped market | Technology |
EU hearing on Microsoft antitrust case in June | Technology |
Duff McKagan a rock 'n' roll renaissance man | Entertainment |
Twilight and Slumdog top MTV Movie nods | Entertainment |
NBC rolls out 6 new shows in bid to rescue ratings | Entertainment |
Madeleine McCann will be found, parents tell Oprah | Entertainment |
Angels & Demons director sees Vatican meddling | Entertainment |
Flu-hit Mexico plans recovery | International |
Turkish wedding attack kills 45
Turkish wedding attack kills 44 in blood feud | International |
Spanish judge to probe Gaza air raid
Nepal parties try to form government after Maoists quit | International |
Netanyahu says ready for peace talks right away | International |
Iran supreme leader rebukes president over powers
NY Times postpones threat to close Boston Globe
U.N. to press Israel on Lebanon border village
Karzai registers for election, running mate criticized | International |
Brain abnormality found in autistic tots: report
Israel dispatches envoys to soften hawkish image
Fiat boss touts plans for new car giant
Karzai registers for Afghan vote with warlord
Creditors object to Chrysler deal, setting up fight
Climate change 'cultural genocide' for Aborigines
Iraq's Maliki in Paris seeking investment
Israel's Peres omits mention of Palestinian state
FTC looks at Google-Apple board ties: report | Technology |
Bigger Kindle e-reader may not be a newspaper fix | Technology |
Struggling US newspapers look to e-readers
Police: Proof is in the pudding in Pa. burglaries
California judge blunts Internet false advertising law | Technology |
High-tech start-ups training academy to open
Pa. museum may allow DNA test of Lincoln's blood
Bernanke likely to give less dour take on economy
Michelin steers iPhone users to fine dining
EU hearing on Microsoft antitrust case in June | Technology |
Authorities seek SoCal tot reported kidnapped
Bigger Kindle e-reader may not be a newspaper fix
Hudson River to be site of Macy's July 4 fireworks
Basque parliament to elect Socialist leader
HP, RIM form Blackberry alliance
Child advocate wants octuplet guardian appointed
Blackberry Curve tops iPhone in first quarter: NPD
US, Israel at odds on Iran, Palestinians
Berlusconi snaps back in melodramatic divorce battle
SKorea and US forge deal to fight cyber attacks
Students back at NYC school after swine flu scare
Mass. police get burned as 4,000 teens flood beach
NY Times postpones threat to close Boston Globe
EU hearing on Microsoft antitrust case in June
Cowboys assistant coach set for surgery
Cat Stevens to Coldplay: It sure sounds like my song | Entertainment |
TV announcer Ed McMahon settles malpractice case | Entertainment |
Outlaw Ned Kelly's descendants demand his remains
Wolverine weekend box office nudged lower | Entertainment |
Australia detains boatload of suspected refugees
Director Polanski will not attend U.S. court hearing | Entertainment |
Woody Allen objects to Farrow, Soon-Yi as witnesses | Entertainment |
Report: NKorea operating cyber warfare unit
Nicolas Cage car stunt goes wrong in Times Square | Entertainment |
Australian, UK WWI dead to get military funeral
Faster-paced Da Vinci Code sequel premieres in Rome | Entertainment |
Typhoon death toll in Philippines climbs to 25
Nepal in turmoil, Maoists threaten street protests
China plans to emulate success of Korean women
Mexico lashes out against Chinese quarantine
Pakistan peace deal under fire amid attacks
Nepal's prime minister resigns amid power struggle
NZ commodity export prices rise in April-survey
NZ new car registrations slide in April
Taiwanese tycoon challenges Buffett's investment
Indians scramble for world's cheapest car
China economic boost helps stock market rally
US, Japan press China on computer rules
Indian stocks up 6.4 pct on global recovery hopes
US-ENTERTAINMENT Summary
Cormac McCarthy receives PEN award
"Wolverine" weekend box office nudged lower
Faster-paced "Da Vinci Code" sequel premieres in Rome
Cat Stevens to Coldplay: It sure sounds like my song
Indonesia anti-corruption chief arrested in murder
NBC takes its medicine: New nurse, paramedic shows
Nicolas Cage car stunt goes wrong in Times Square
`Twilight,' `Slumdog' lead MTV award nominees
Polanski won't appear at LA court hearing
'Wolverine' a howling success at box office
Georgia accuses Russia over foiled rebellion | International |
Gates says U.S. to persist with Iran overtures
Residents flee Pakistan's Swat as truce collapses | International |
Iranian president to meet Palestinians in Syria
Merkel recalls brutal Communism at Stasi prison | International |
Israel angered over 'biased' UN report on Gaza war
Spain could open second Guantanamo torture probe | International |
UN refugee body: Security improved in Iraq's south
Arrest of top activists shakes Zimbabwe unity deal
China to stage 50,000-troop military drill: report | International |
Iran court to hear U.S. reporter's appeal
Fiat's grand plans hit resistance
Gates says U.S. to persist with Iran overtures | International |
Hopefuls sign up for Iranian election
Adidas net profit sinks 97% in first quarter
Around 30 reported killed in Afghan clashes
U.S. presses new Israeli government to back two-state solution | International |
Swiss bank UBS issues corporate credit warning
Netanyahu ready for peace talks
US banks may need more funds
Greek court rules first same-sex weddings invalid | International |
Jimmy Fallon takes top Webby award | Technology |
EU issues consumer online rights, lists action ideas | Technology |
Former Fla. House Speaker will seek US Senate seat
US anti-trust inquiry into Google, Apple
Mass. man charged in family plot keeps guilty plea
Car crashes into eatery in NY movie stunt; 2 hurt
Vivendi CEO Levy to chair Activision Blizzard
White House to seek input on education law
Bigger Kindle e-reader may not be a newspaper fix | Technology |
California judge blunts Internet false advertising law
Vivendi CEO Levy to chair Activision Blizzard | Technology |
US reporter's appeal to be heard next week in Iran
Georgia troops mutiny, govt accuses Russia
On May 5, Mexican dominance irks other Latinos
Pregnancy may help Briton avoid firing squad: Laos
Iran to hear appeal soon for jailed US reporter
Laid-off Mo. factory worker, 65, trains to be cop
Mental health courts increase despite debate
Taos events mark 'Easy Rider' anniversary, '60s
A year on, 'number two' view still dogs Medvedev
Conservatives tipped for EU vote win
Police: Homemade liquor kills 15 in eastern India
Star Trek aims to stun fans | Entertainment |
Sri Lanka says rebel leader trapped
Friends give Tilda Swinton alcoholic inspiration | Entertainment |
Two Koreas prepare further Kaesong estate talks
Billy Elliot leads race for Tony Award | Entertainment |
SKorea finds first Asia case of person-to-person flu
Fans beam about new Star Trek: online poll | Entertainment |
Mexicans leave China quarantine on chartered plane
Jimmy Fallon takes top Webby award | Entertainment |
Search for US poet in Japan to be scaled down
Plane arrives for Mexicans held in quarantine
Koreas consulting over new round of official talks
China reject latest US report on religious freedom
ADB chief sees signs of Chinese recovery
Philippine inflation dips to 4.8 percent in April
Pakistani share market edgy over fighting in NW
China shares hit 9-month high on rebound hopes
Philippine inflation slows to 4.8 pct
Asian lender under scrutiny after capital boost
An Obama bump for lucky novelist
China's Hainan Airlines halves Embraer jets order
Friends give Tilda Swinton alcoholic inspiration
Malaysia's ex-PM made adviser to national airline
Rihanna returns to red carpet at New York gala
Bangladesh remittances up despite global recession
White Stripes drummer Meg White to wed this year
'Idol' finalist Lambert impresses rocker Slash
GM says China sales set new record in April
Superstore chain looks to `make' hits
Pine makes maiden voyage as `Trek' Captain Kirk
`Angels & Demons' premieres in Rome with Tom Hanks
Israel's Hebrew Catholics keep the faith
Australia may pay for obesity surgery: report
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01