Berlin turns down Opel's request for more than a billion euros in state loan guarantees

The German government has rejected a request by General Motors for federal aid to help restructure its European unit, Opel, saying the U.S. automaker has enough funds to pull its subsidiary through by itself. GM had sought loan guarantees from Germany totaling more than a Billion euros. Opel employs about 25,000 people in Germany...and GM says it will now review other funding options...including possible support from German states for regional Opel plants.