BRIEFS

VW adds 120 staffers

CHATTANOOGA, Tenn (AP):

The chairman and CEO of VW's Chattanooga operations, Frank Fischer, said Thursday that construction of the $1 billion plant and employee training are on schedule for production to begin in early 2011. The new car will be first shown publicly at an auto show in Detroit, and will go on sale in the second half of 2011.

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Call for suspension of GM stock offering

WASHINGTON (AP):

Ralph Nader and consumer groups want the Obama administration to suspend General Motors' initial public-stock offering, saying taxpayers could lose billions of dollars in the deal.

Nader said in a letter Thursday that delaying the stock offering would allow the government to recoup more of its US$50 billion investment, and cautioned that the government would have less influence over the auto giant, by reducing its ownership stake. He estimated taxpayers could lose nearly US$5 billion by conducting the IPO this year.