Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  General Motors Company    GM

Delayed Quote. Delayed  - 07/29 05:54:40 pm
31.45 USD   +1.48%
06:07p JULY U.S. AUTO : forecasters
12:41p Daimler to invest 1 billion euros in Hungarian plant
12:45a Ford calls an end to U.S. auto boom, rivals bet other way
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

General Motors Company : Opel revamp deal expected this week - German union

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/28/2013 | 01:35pm CEST

German union IG Metall expects to strike a deal this week with General Motors Co's Opel unit over the restructuring of the carmaker's German operations.

"We are just about to reach an agreement," said a spokesman for IG Metall on Thursday.

The negotiations, which started in June and were supposed to complete by the end of October, could be concluded on Thursday but may need an extra day, according to the union spokesman.

Opel could not be reached immediately for comment.

The deal is expected to extend job guarantees by another two years to 2016 for all four German plants, which together employ around 20,000 workers.

At the start of 2017 at the latest, however, assembly lines at the Bochum car plant will cease running and only some components and warehousing jobs will remain under the deal.

A union source involved in the negotiations told Reuters labour leaders were not willing to agree on further wage concessions and job cuts in Bochum.

Workers fear GM wants to "hollow out" Opel, where labour has had certain rights under German law ever since it became a joint stock company in 2010.

Operating assets outside of Germany once owned by the company were being successively regrouped directly under parent GM, triggering union suspicions that Detroit wanted to undermine union influence in product, investment and strategy decisions.

Unions want to avoid further decisions such as the one taken a year ago to build the Opel Antara SUV in South Korea, taken by parent GM above the heads of Opel management and its supervisory board, in which unions have a seat at the table.

GM's second-largest brand behind only Chevrolet, Opel has lost billions in recent years as Europe's car market has plumbed near 20 year lows, despite repeated bouts of job cuts that included closing a car plant in Belgium at the end of 2010.

(Editing by David Holmes)

By Jan Schwartz and Christiaan Hetzner

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on GENERAL MOTORS COMPANY
06:07p JULY U.S. AUTO SALES UP 2.4 PERCENT, : forecasters
12:41p Daimler to invest 1 billion euros in Hungarian plant
12:45a Ford calls an end to U.S. auto boom, rivals bet other way
07/28 GENERAL MOTORS : Researchers from General Motors Describe Findings in Impact Eng..
07/28DJBrexit Could Crimp Auto Makers' Fresh Europe Recoveries
07/28 GENERAL MOTORS : Students take hands on tour of GM
07/28 GENERAL MOTORS : 2017 Cruze production to begin Friday
07/28DJFord's Signals Caution Ahead
07/28DJAt VW, Hefty Scandal-Related Charges Drag Down Profit
07/28 GENERAL MOTORS : Soon, FCA will just make Jeep, SUVs and Ram in the U.S.
More news
Sector news : Auto & Truck Manufacturers - NEC
06:07p JULY U.S. AUTO SALES UP 2.4 PERCENT, : forecasters
12:41p Daimler to invest 1 billion euros in Hungarian plant
11:42aDJDAIMLER : to Invest Around EUR1 Billion in Second Plant in Kecskemet, Hungary --..
11:06a VW's Audi will miss 2016 profitability goal
10:35aDJDAIMLER : to Invest Around EUR1 Billion in Second Plant in Kecskemet, Hungary
More sector news : Auto & Truck Manufacturers - NEC
News from SeekingAlpha
10:23a AUTONATION : Do Automobile Sales And Margins Really Matter?
06:55a WALL STREET BREAKFAST : U.S. GDP Takes Center Stage
07/28 The Latest News In The World Of Electric Vehicles And Energy Storage
07/28 Investors hit reverse on Detroit auto stocks
07/28 Quarter 2 Earnings Heading In The Wrong Direction - Week 2 Continued
Advertisement
Financials ($)
Sales 2016 158 848 M
EBIT 2016 11 547 M
Net income 2016 9 220 M
Finance 2016 6 579 M
Yield 2016 4,79%
P/E ratio 2016 5,55
P/E ratio 2017 5,35
EV / Sales 2016 0,26x
EV / Sales 2017 0,26x
Capitalization 48 404 M
More Financials
Chart GENERAL MOTORS COMPANY
Duration : Period :
General Motors Company Technical Analysis Chart | GM | US37045V1008 | 4-Traders
Full-screen chart
Technical analysis trends GENERAL MOTORS CO...
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 36,5 $
Spread / Average Target 18%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Mary Teresa Barra Chairman & Chief Executive Officer
Daniel Ammann President
Charles K. Stevens Chief Financial Officer & Executive Vice President
Randall D. Mott Chief Information Officer & Senior Vice President
Kathryn V. Marinello Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
GENERAL MOTORS COMPANY-8.88%48 404
TOYOTA MOTOR CORP-20.82%188 748
DAIMLER AG-22.26%71 483
VOLKSWAGEN AG-6.73%71 054
BAYERISCHE MOTOREN WER..-22.19%54 601
FORD MOTOR COMPANY-9.79%50 495
More Results