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#274052 - 7th Dec 2008 2:31am Vauxhall look to Government to save Merseyside job
_jase_
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CAR giant Vauxhall has held talks with Downing Street about a cash plan to save thousands of Merseyside jobs, it was reported today.

Reports in a national newspaper suggest the car manufacturer has sat down with Business Secretary Lord Mandelson to urge the Government to look at a possible bailout for UK jobs as the company’s American owners teeter on the brink of collapse.

Around 5,000 workers staff plants in Ellesmere Port, producing the Astra, and Luton, where the Vivaro Van is made.

The company’s American parents - General Motors - told decision makers in Washington this week that without an $18bn loan, it would have to file for “bankruptcy protection” to hold back creditors as it fights to survive.

It is thought Vauxhall’s plea to Number 10 is the first for help by a company outside the banking sector since the credit crunch hit.

Reports suggest the Government will take a “cautious” approach to any bailout and may look at short-term measures to aid the struggling motor industry, which this week saw figures for the buying of new cars plummet.

The collapse of Vauxhall would hit more than 50,000 UK jobs with the supply chain, dealerships and local businesses around the factories suffering too, it was estimated.


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#274054 - 7th Dec 2008 2:34am Re: Vauxhall look to Government to save Merseyside job [Re: ]
MattLFC Offline
Wiki Master

Registered: 14th Aug 2004
Posts: 22315
Loc: Moreton/Beirut/Mobile
Just noticed this meself, didnt even know they have been shut for 14 days in October!!

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#274084 - 7th Dec 2008 11:22am Re: Vauxhall look to Government to save Merseyside job [Re: MattLFC]
Rhobit Offline
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Registered: 21st Oct 2008
Posts: 167
Loc: Bidston Hill
$18 billion? Well lets see now, I beleive the US Congress just agreed an $11 bn loan. So $18 would just about bring them level with the $30 odd billion they requested and got turned down for.

If I were mandelson, and thank god I'm not, I'd be very careful about funding GM's worlwide operations with a loan of that size.

That article really is smacking of blackmail on GM's behalf at the moment and I really don't like it.

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#274129 - 7th Dec 2008 4:57pm Re: Vauxhall look to Government to save Merseyside job [Re: Rhobit]
DavidB Offline
Wiki Guide

Registered: 7th Dec 2003
Posts: 5591
Loc: Bebington, Wirral
I wouldn't. GM is never going to pull out of this because their marketing strategies in America are completely wrong. They're still trying to make muscle cars ffs. Government are weary about giving loans because they don't see it as investments, only as hand outs.
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#274205 - 7th Dec 2008 8:38pm Re: Vauxhall look to Government to save Merseyside job [Re: DavidB]
MattLFC Offline
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Registered: 14th Aug 2004
Posts: 22315
Loc: Moreton/Beirut/Mobile
Tbh, the government said no to financially backing the SAIC-MG-Rover deal a few years back, and they only wanted £120million to secure the SAIC deal (this was a financial security package so MG-Rover could keep operating and obtaining credit whilst the SAIC deal was completed, not a blatent handout/loan).

If they go giving GM a few BILLION to go pissing up the wall and lining the prockets of their shareholers, and ending up in the same position in 3 years time as they are now, then it is out of order.

We should not bail an American firm, even if it means a few thousand people will lose their jobs. Its not worth the risk of billions of taxpayers money to save a few thousand jobs.

It was only a couple of years ago that Ford and GM went begging to the US government for handouts in the billions to keep them in business.

Quite simply, they are not making a penny profit and have not been for many years now. Its about time, they faced the harsh realities of not running a business properly, and went under. If they can let Lehman Brothers and Fannie May go bust, then they can let Ford and GM go bust too. They would'nt be any loss to the industry anyway, a fact proven by their constant money problems.

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#274320 - 8th Dec 2008 12:00am Re: Vauxhall look to Government to save Merseyside job [Re: MattLFC]
DavidB Offline
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Registered: 7th Dec 2003
Posts: 5591
Loc: Bebington, Wirral
The thing is, Opel will stay afloat because along with Saab, it's the only wing of GM that is making money in relation to their American counterparts. How can they shut down this plant, or at least drop Vauxhall?
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#274324 - 8th Dec 2008 12:09am Re: Vauxhall look to Government to save Merseyside job [Re: DavidB]
MattLFC Offline
Wiki Master

Registered: 14th Aug 2004
Posts: 22315
Loc: Moreton/Beirut/Mobile
Are you sure mate, GM are said to be scrapping the Saab brand, alongside Hummer, Pontiac and Saturn. In fact, I read somewhere recently, that this is an important conitiong of the US government bail out plan. There was rumor of them selling Saab for a while, but its practically worthless as GM have screwed it over. Of course the actual Saab brand will revert back to the original Saab company if and when it is scrapped.

One part of a company does not stay aflot, if the parent company dies, especially in this day and age where no company has money. Powertrain was quite profitable, and did'nt rely soley on MG Rover for revenue, but still died when MG-Rover went under. NAC saved Powertrain, in the end, but only did so for the assets, it did'nt save the actualy company or jobs.

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#274787 - 9th Dec 2008 2:04am Union bosses: Vauxhall should ask for Govt cash [Re: MattLFC]
_jase_
Unregistered


UNION leaders today said Vauxhall should ask the UK government for financial help if it was needed to safeguard jobs at its British plants.

Demands for reassurance came as it emerged Vauxhall’s Ellesmere Port plant will close on Friday for a month due to a lack of demand for the Astra.

Some 2,200 staff work at the factory and would normally work until around December 23 and then return around January 2.

John Fetherstone, union convener for Unite, said Vauxhall and the British government should follow Germany’s example and start planning with parent company General Motors for the worst-case scenario.

Car giants GM, Chrysler and Ford hope to convince the US authorities to approve a £23bn car industry bail-out.

Mr Fetherstone said: “We should be asking for money in case General Motors North America has a problem.

“I believe Vauxhall have had a meeting with Peter Mandelson but they are saying they have not asked for money.

“But I believe we should be going to the government looking for financial aid if it’s needed.

“We will be closing down for a month. We won’t be working today or tonight and will finish on Friday until January 12.


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#275358 - 12th Dec 2008 4:52pm Re: Union bosses: Vauxhall should ask for Govt cash [Re: ]
_jase_
Unregistered



Eight month break deal for Vauxhall workers


VAUXHALL is offering workers an eight-month career break because of falling sales.

Workers opting for the sabbatical will be paid 30% of their salary.

It is the latest cost-cutting measure by the firm’s US parent General Motors.

It was dealt a huge blow in its fight for survival last night when a £9.3bn government rescue package collapsed.

The company said it was “reviewing all options”.

Staff at the Ellesmere Port plant were told they can take a “sabbatical” from January 1 to September 1 when a new three-shift working system will be introduced in time for production of the new Astra model.

A Vauxhall spokesman said: “It is part of a programme we announced to the plant this week offering the opportunity to consider taking a sabbatical.

“It is an open invitation and we will have to judge the responses because we would not want some key workers to take this. “

GM made the offer to all its manufacturing sites across Europe.

The spokesman said: “This is in response to the current extraordinary conditions we are suffering in Europe. We are not going to be producing vehicles every day of the week through 2009.”

Earlier this week Vauxhall revealed its Christmas break, which starts today, has been extended to a month due to falling orders.

Meanwhile Knowsley transmission plant Getrag Ford is the latest automotive company to announce lay-offs in response to falling volumes.

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#275579 - 13th Dec 2008 3:02pm Re: Union bosses: Vauxhall should ask for Govt cash [Re: ]
DavidB Offline
Wiki Guide

Registered: 7th Dec 2003
Posts: 5591
Loc: Bebington, Wirral
They'll come back to nothing I tell you, that factory will be gone by then and 'luxury apartments' will take it's place.
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