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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