Word: piech
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Dates: during 1993-1993
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...project for GM but jumped ship after the company decided to put his dream plant in Hungary rather than in his hometown of Amorebieta, Spain. Volkswagen had wooed Lopez with promises to build his | plant in Amorebieta, but the dismal state of European car sales forced VW chairman Ferdinand Piech to suspend plans for the factory two weeks ago. On top of Volkswagen's $780 million first-quarter loss and bleak prospects for the rest of the year, Piech could hardly justify the ambitious project...
Neither Volkswagen nor Lopez would comment on the Opel documents, but Piech lashed back at GM in a more personal way. In an interview with the German newspaper Die Welt, Piech implied that Louis Hughes, who heads GM Europe, was waging a vendetta because he lost out to Piech last year in the runoff to be Volkswagen's chairman. Hughes may have the last laugh: if GM makes its charges stick, predicts industry analyst Klaus-Jurgen Meltzner, "either Lopez or Piech would have...