Show Posts

This section allows you to view all posts made by this member. Note that you can only see posts made in areas you currently have access to.

Topics - iainb

Pages: 1 [2]

General Discussion Area / Opel latest nonsence

« on: 08 May 2009, 22:19:45 »

GERMANY: Magna plan for Opel surfaces
8 May 2009 |

A new Canadian-Austrian-Russian plan for Opel has emerged.

Magna International aims to create a European-Russian automaker making up to 5m cars a year, German daily Rheinische Post said, citing company sources.

Under its proposal, dubbed project 'Beam', the company would take over Opel jointly with GAZ and Sberbank to sell 1m cars a year to the Russian market, the paper reported on Friday, according to Reuters.

Magna would present the proposal to the German government on 20 May the reports said. A German government spokesman declined to comment.

Reuters said GM Europe made 1.7m cars in 2008 and sold 2m.

The news agency noted that the Rheinische Post echoed previous reports in saying that Magna aimed to take on a 19.9% stake of the merged entity, while GAZ and Russia's Sberbank would jointly hold 30.1% and GM would have up to 40%.

Opel's management and dealerships could also hold a stake.

GAZ and its owner, billionaire Oleg Deripaska, have repeatedly told Reuters they denied interest in Opel.

Handelsblatt newspaper earlier this week cited a spokesman for GAZ as saying that the company had been invited to join a consortium bidding for Opel, and that the company would review the invitation. GAZ had declined to comment to Reuters

General Discussion Area / GM AXE Pontiac

« on: 27 April 2009, 21:06:43 »

US: GM axing Pontiac, dealers, extra plant
27 April 2009 | Source: just-auto.com editorial team

GM is axing one more plant than planned in February; future of Hummer, Saab and Saturn should be known by end-2009

view image

General Motors on Monday confirmed it would axe Pontiac and focus on just four core brands in the US - Chevrolet, Cadillac, Buick and GMC - with fewer models and "a more competitive level of marketing support per brand".

Pontiac will be phased out by the end of next year by which time GM will offering 34 models, down 29% from 48 in 2008, the automaker said in a revised restructuring plan submitted to the US government.

The US dealer count will be slashed 42% from 6,246 in 2008 to 3,605 by the end of next year. GM noted this was a further reduction of 500 dealers, and four years sooner, than in the plan it submitted on 17 February.

GM said the number of assembly, powertrain, and stamping plants in the US would be cut 28% from 47 in 2008 to 34 by the end of 2010, and to 31 by 2012. This is an acceleration of six plant idling/closures from the 17 February plan, and one additional plant closure.

US hourly employment levels will be reduced about 34% from about 61,000 in 2008 to 40,000 in 2010, and are projected to level off at about 38,000 from 2011.

This is a further reduction of an additional 7,000 to 8,000 employees from the 17 February plan. The plan assumes a reduction of US hourly labour costs from $7.6bn in 2008 to $5bn in 2010, a 34% reduction.

GM added it also expects a further decline in salaried and executive employment.

GM North America has forecast the consequent lower structural costs will enable it to break even (adjusted EBIT basis) at a total US industry volume of approximately 10m vehicles, substantially below the 15m to 17m annual sales rates recorded from 1995 through 2007.

"The revised plan accelerates the time line for a number of important actions and makes deeper cuts in several key areas of GM's operations, with the objective to make us a leaner, faster, and more customer-focused organisation going forward," the automaker said in a statement.

"We are taking tough but necessary actions that are critical to GM's long-term viability," said president and CEO Fritz Henderson.

GM said it planned to resolve the future of Saab, Saturn, and Hummer by the end of 2009.

The latest viability plan reduces GM's market share projections to adjust for the impact of the brand and dealer consolidation, as well as for the short-term impact of speculation regarding a GM bankruptcy. The plan assumes a 19.5% share in 2009, with share stabilising in the 18.4% to 18.9% range in subsequent years.

"We have strong new product coming for our four core brands: the Chevrolet Camaro, Equinox, Cruze and Volt; Buick LaCrosse; GMC Terrain; and Cadillac SRX and CTS Sport Wagon and Coupe," said Henderson. "A tighter focus by GM and its dealers will help give these products the capital investment, marketing and advertising support they need to be truly successful."

GM on Monday launched a bond exchange offer for approximately $27bn of its unsecured public debt. If successful, the exchange would result in the conversion of a large majority of this debt to equity.

"A stronger balance sheet would free the company to invest in the products and technologies of the future," Henderson said. "It will also help provide stability and security to our customers, our dealers, our employees, and our suppliers."

GM said discussions with the UAW to modify the terms of the Voluntary Employee Benefit Association (VEBA), and with the US Treasury regarding possible conversion of its debt to equity were continuing.

"The current bond exchange offer is conditioned on the converting to equity of at least 50% of GM's outstanding US treasury debt at 1 June, 2009, and at least 50% of GM's future financial obligations to the new VEBA. GM expects a debt reduction of at least $20bn between the two actions," the automaker said.

In total, the US treasury debt conversion, VEBA modification and bond exchange could result in at least $44bn in debt reduction.

GM added it would will continue to invest in future products and new technologies, with $5.4bn allocated in 2009, and investments ranging from $5.3 to $6.7bn from 2010 to 2014.

"Development and testing of the Chevy Volt extended-range electric car remains on track for start of production by the end of 2010 and arrival in Chevrolet dealer showrooms soon thereafter," it said.

"The viability plan reflects the direction of President Obama and the US treasury that GM should go further and faster on our restructuring," Henderson said

General Discussion Area / Internet security

« on: 26 April 2009, 22:02:56 »

Just a question about above subject as it seems consume some much processor power.
I need to reduce the about of resource's used by my PC and have come across this
http://www.yoggie.com/pico-personal
I am an avid flight simmer and use microsoft flight sim x but its very memory hungry and cant afford to upgrade my pc at the moment.
So do you guys think this could be an answer or is it snake oil again ?
Cheers Iain

General Discussion Area / GME update

« on: 17 February 2009, 22:18:13 »

Most US auto eyes will be on Washington DC this afternoon (GMT) when General Motors and Chrysler submit final restructuring/viability plans to the US treasury as part of the conditions of a first tranche of bailout loans at the turn of the year, and more help expected to be made available today. But nervous eyes will be watching from this side of the Atlantic, too as GM's European brands brace for the effects of the parent company's survival plan.

News agency Reuters is this morning suggesting GM's plan might include wide-ranging changes at its European operations, including Germany's Opel, Vauxhall, with two plants here in Britain, and Saab in Sweden.

Several potential scenarios are suggested.

One is for General Motors Europe (GME) to obtain government loan guarantees and state aid. GME president Carl-Peter Forster reportedly wants up to US$1bn in support from the Swedish government for Saab and under EUR2bn ($2.56bn) in German guarantees for Opel for 2009 and 2010.

An unnamed senior GM official was quoted at the weekend as saying the Opel aid was a certainty but it was expected the German government would wait to see what was in the US plan before making its final decision.

Sweden has said it may grant up to SKR25bn ($2.93bn) in credit guarantees and emergency loans to the industry, including Saab, as long as the money is spent in Sweden to preserve jobs and achieve profitability, the news agency said.

Swedish broadcaster SVT last weekend cited sources saying GM and Sweden had been unable to agree terms of loan guarantees, though industry ministry state secretary Joran Hagglund told Reuters on Monday that talks were continuing.

The German government, meanwhile, is open to giving aid to Opel as long as it is ring-fenced. Administrators in Europe could check that any funds from a loan guarantee plan go to specific projects, ensuring no taxpayer money finds its way to Detroit.

Alternatively, Reuters suggested, states could inject fresh equity into Opel and Saab but Sweden so far has made clear it wants to sell state assets, not buy them.

The report said German officials have not ruled out taking a direct stake in Opel as a last-ditch measure to save jobs though GME labour leader Klaus Franz has said he does not want the government running the automaker.

Carving out both Opel and Saab as independent entities may be another outcome. The Swedish government insisted Saab was to be independent before it would grant any aid, a step that the German government might also require for Opel as insurance that state aid was not siphoned off to Detroit.

GME labour leaders reportedly favour this approach to guarantee the long-term viability of the businesses and avoid plant closures.

Selling Saab - which has languished under a decade of GM ownership - is also on the cards. Forster said last month an investor had approached GM but that talks would not conclude before the end of March.

Swedish minister Hagglund has said Stockholm has no "political or ideological" preference for a new owner as long as it knows the manufacturing sector and is committed to Saab and Volvo, according to Reuters.

According to the report, any disposal and 'deconsolidation' of Opel or Saab would likely require business contracts between the two and with parent GM to be renegotiated at arm's length since all engines and transmissions are sourced separately via GM Powertrain.

The German labour force has long lobbied for Opel cars to be sold in the US market, according to Reuters. Right now, the Astra is available there as a Saturn. One industry proposal reportedly has been to let Saturn dealers exchange their franchise for an Opel one, giving GM's second-largest brand a global sales network.

Although a sale is the preferred solution, "all options are being examined" including a complete closure of Saab, a source at GM has acknowledged to Reuters.

The news agency suggested this could be expensive because GM employs roughly 4,400 workers at Saab and their products are sold in more than 60 countries. A European Cadillac model, called the BLS, is also manufactured in Trollhattan alongside Saab's 9-3 and 9-5 models.

General Discussion Area / Life for Opel

« on: 19 November 2008, 22:49:23 »

http://www.automotiveworld.com/WVMA/content.asp?contentid=72541
Things aint good for Opel so this life offers some hope for them.

General Discussion Area / R.B.L

« on: 01 November 2008, 23:00:34 »

I have just been on the Rbl site and found this page about sending a message to the troops over sea's. As we we approach Novenber 11 I thought I would post it
http://www.poppy.org.uk/index.php/heroes-messageboard.html
Admins feel free to remove it if it offends the PC brigrade

General Discussion Area / Oh dear another sat-nav failure

« on: 24 October 2008, 22:54:41 »

http://uk.news.yahoo.com/18/20081024/tod-polish-driver-follows-gps-directions-7f81b96.html
I think you place to much trust in these things what do you think ?