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General Motors decides not to sell Opel

http://www.motorward.com

“GM will soon present its restructuring plan to Germany and other governments and hopes for its favorable consideration,” said Fritz Henderson, president and CEO. “We understand the complexity and length of this issue has been draining for all involved. However, from the outset, our goal has been to secure the best long term solution for our customers, employee, suppliers, and dealers, which is reflected in the decision reached today. This was deemed to be the most stable and least costly approach for securing Opel/Vauxhall’s long-term future.”

On a preliminary basis, the GM plan entails total restructuring expenses of about € 3 billion, significantly lower than all bids submitted as part of the investor solicitation. GM will work with all European labor unions to develop a plan for meaningful contributions to Opel’s restructuring. While Opel continues to outperform against its viability plan assumptions and immediate liquidity is stable, time is of the essence.

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Created by Dr Who 3 years 37 weeks ago – Made popular 3 years 37 weeks ago

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Germans Frustrated Over G.M. Keeping Opel

http://dealbook.blogs.nytimes.com

Feeling jilted after six months of negotiations, German officials reacted angrily Wednesday to General Motors’ decision to keep its European business, Opel, rather than sell a majority stake to a consortium backed by Berlin, The New York Times’s Nelson D. Schwartz, David Jolly and Bill Vlasic reported.

Expressing frustration with the U-turn, the new German economics minister, Rainer Brüderle, vowed to make the Detroit automaker repay the money that had already been lent. “We will get back taxpayers’ money,” he told reporters in Berlin, deeming G.M.’s move “totally unacceptable.”

Klaus Franz, the top labor leader at the company’s headquarters in Rüsselsheim, Germany, called it “a black day.”

“The path back to General Motors is something we won’t sign on to,” he added.

Opel workers, along with the German government, had strongly backed a sale to the Canadian-Austrian auto parts company Magna and Russia’s Sberbank, believing that would protect the most jobs. G.M.’s European operations include the Opel and Vauxhall brands.

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Created by Dr Who 3 years 37 weeks ago – Made popular 3 years 37 weeks ago

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1

As Persian Jews pray for their souls on Yom Kippur

http://www.latimes.com

The holiest day of the year is ripe for matchmaking because it draws big crowds to synagogue, including young people who don't often attend. 'Every year the skirts are getting shorter,' a woman says.
Yom Kippur, the holiest and most somber day of the Jewish calendar, is a time for repentance, traditionally reserved for fasting and intense prayer. But scores of Iranian American Jews in Los Angeles, many of whom congregate in just a handful of synagogues across the city, aren't just looking for forgiveness on the Day of Atonement.

They're looking for love.

Facing enormous pressure from their families to marry within the community, many of these young people -- and their matchmaking relatives -- say they use the day to scope out potential romantic interests and tap into vast social networks to get the scoop on prospective candidates.

The irritability and less-than-fresh breath that can accompany the 25-hour fast don't seem to stop many of them from dressing up and synagogue-hopping from the San Fernando Valley to the Westside in search of a soul mate.

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Created by Dr Who 3 years 42 weeks ago – Made popular 3 years 42 weeks ago

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Amazing Time Lapse Videos of the Los Angeles Station Fires

http://www.best-videos-online.info

Eric Spiegelman posted two incredible time-lapse “test” videos of the “Station Fire” in Los Angeles County that has thus far forced the evacuation of 4,000 homes. Spiegelman’s videos, uploaded within fifteen hours of each other, one at night, seemingly shot from the lookout along Mulholland drive, and the second, from the same vantage point but during the day – reveal an awe-inspiring display of the sheer volume of smoke pushing up into the atmosphere.

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Cash for Clunkers: An Environmental Thought Experiment

http://blogs.cars.com

It seems as if people are having trouble deciding if having the CARS program blowing through a billion dollars in a week is a good thing or a bad thing. We wanted to look at what has happened from an environmental standpoint.

Because the specifics of all of the cars traded and sold are obviously out of our reach at the moment (as well as the government’s, it seems), let’s just calculate the absolute minimal environmental difference the $1 billion made. Because consumers could take advantage of the CARS program as long as they traded in a car that got a combined fuel economy of less than 18 mpg for one that got an EPA rating of 4 mpg more than the trade-in, we’ll use only that example.

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