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GM Aids Opel By Booking Russian Profits At Loss-making Unit

By Christiaan Hetzner FRANKFURT (Reuters) - General Motors has decided to put its Russian operations back under the control of its European wing - a victory for GM Europe's new pre... More By Christiaan Hetzner FRANKFURT (Reuters) - General Motors has decided to put its Russian operations back under the control of its European wing - a victory for GM Europe's new president and a signal of support for a workforce that has endured massive job cuts in the hunt for profitability. GM made a turnaround of its European business a top priority after racking up around $18 billion in losses over the past 12 years, and is investing billions more despite calls from Morgan Stanley to sell Opel and its UK sister Vauxhall at virtually any cost. ... Less

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