From Frank Thomas:
When Angela Merkel got on the plane yesterday after addressing the US Congress, she was told about GM's decision to keep Opel. I don't know if you are aware of the short history here, but GM approached the German government some time ago pleading for its help to find a buyer for Opel and German taxpayer financial support for the company in the interim. The German government, represented by their Premier Angela Merkel, accomodated these wishes. It went to work, found a buyer and spent over €1 billion ($1.5 billion) to support the company to date.
What happened yesterday? GM management belatedly comes to its realization of the value of Opel and tells the German government they do not want to sell it. AND, they have the utter gall to ask the German government to invest another $3billion to support the German operation while they (GM) plan to restructure the business .... inevitably resulting in a huge job loss for Opel-Germany's 25,000 workers! All Germany and Premier Merkel are rightfully outraged!
Now we are about to see a real virtual reality classic BATTLE between European and American cultures right before your eyes. Already Germany's unionized workers are planning a massive strike which may spread to other Opel operations throughout continental Europe. It's all about the deep concern for workers in Europe compared to the non-chalant dismissal of workers by American firms. It's all about trust in sticking to your word as GM reneges on its committment to the sale of Opel in the first place while being supported by German taxpayer funds until the deal was closed with a new party (with Magna Charta of Canada).
This is something to watch .... as the role of government in society to protect the general welfare of workers is now being execised by diametrically opposite value systems regarding keeping to one's word and looking out for the interests of the working folk.
Stay tuned!
Regards,
Frank
