The Financial Post reports in its Saturday edition that unlike previous annual general meetings Magna International's on Friday was a dull affair. The Post's Scott Deveau writes that dull can be a good thing. High drama at Magna has fallen to the wayside. Restructuring in Europe appears to have stabilized, despite declining auto sales on the continent. Magna now expects to spend only $100-million on its European restructuring in 2013, down from $150-million previously. Chief executive officer Don Walker expects the issues in Europe to be behind Magna in a year's time. He believes the downturn in Europe may create buying opportunities as the auto parts industry consolidates. Mr. Walker says, "It's encouraging to be working for a company that is doing well." On Friday Magna said its first quarter earnings had handily beat expectations. Canaccord Genuity analyst David Tyerman was particularly impressed by the company's performance during the first quarter in Europe, given the declining auto sales there. He said it appeared that the company was performing well and would continue to do so in the coming quarters. Mr. Tyerman says Magna is now operating in a normal manner "and they're performing pretty well."