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5 Dec 2008, 09:09 (Ref:2347903) | #1 | |
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GM gone by the end of the month?
They can't do that!......we've got a two make V8 series to run!
ABC news today reported that execs from the big three in the US automotive industry went "cap in hand" to the US congress to ask for a rescue package of 40 billion dollars. One GM exec said that they could be "gone" by the end of the month. Where would that leave Holden? |
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5 Dec 2008, 10:03 (Ref:2347938) | #2 | ||
Racer
Join Date: Jan 2003
Posts: 264
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I'm sure the Chinese have enough money to buy Holden.
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5 Dec 2008, 11:07 (Ref:2347997) | #3 | ||
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If persons in Bankruptcy in the UK are occaisionally persons not of "repute" to hold a V8SC franchise what is the status of a manufacturer in Chapter 11 administration in the USA?
Seriously can any of the legal Eagles who drive Porsches give a (free) opinion on the status of overseas subsidiaries of a corporation in Chapter 11? |
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Geting old is mandatory, acting old is optional. |
5 Dec 2008, 13:02 (Ref:2348115) | #4 | ||
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Here's one to ponder.
If GM had a fire sale and sold a number of assets, e.g. Holden, could Holden be floated on the ASX and would Australian investors have the resources or desire to buy the stock and make Holden a truly Australian company? |
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5 Dec 2008, 17:05 (Ref:2348222) | #5 | |
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Join Date: Nov 2008
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Im tipping Kevin 747 will buy it for the nation. Bet he wishes he didnt shell out that 10 billion paying the dole bludgers and single mums there 2 grand lmao.
Nope, what will probably happen is Mark Skaife will take control for $1 and all will be well for about 18 months the Uncle Tom will take over the whole damn lot. |
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5 Dec 2008, 17:13 (Ref:2348231) | #6 | ||
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If Holden were to stop funding the teams, surely that wouldn't put the block on the cars being used (although there would be funding holes of course).
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5 Dec 2008, 18:02 (Ref:2348275) | #7 | ||
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5 Dec 2008, 20:30 (Ref:2348407) | #8 | ||
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GM can sell Holden back to itself right?
Can't Holden beholden again to Australia ? |
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SuperTrucks rule- end of story. Listen to my ramblings! Follow my twitter @davidAET I am shameless ... |
5 Dec 2008, 22:03 (Ref:2348486) | #9 | |||
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What if there were no hypothetical questions? |
5 Dec 2008, 23:01 (Ref:2348522) | #10 | ||
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5 Dec 2008, 23:43 (Ref:2348537) | #11 | ||
Llama Assassin and Sheep Botherer
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Hyundai wins Bathurst 2009 looking more likely everyday...
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6 Dec 2008, 00:16 (Ref:2348544) | #12 | ||
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Even better, Lada wins Bathurst next year.
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One batch two batch, penny and dime |
6 Dec 2008, 00:31 (Ref:2348552) | #13 | |||
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asset sale
Quote:
Green keeps being reported, not sure that suits the V8s of Nascar. An asset sale must be on the cards including the Aus operations - Ford to Tata (India) has already been speculated as has GMH to Shanghai Motor Corp (China). |
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more torque than a climate change conference |
6 Dec 2008, 01:30 (Ref:2348575) | #14 | |||
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David |
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6 Dec 2008, 01:38 (Ref:2348577) | #15 | ||
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6 Dec 2008, 05:22 (Ref:2348620) | #16 | ||
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GM and Chrysler both are saying they'll be gone in a month, Ford still has $18B in reserves after listing all their assets for collateral on a $20B+ loan a year or so ago.
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6 Dec 2008, 06:02 (Ref:2348627) | #17 | |
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Posts: 6,885
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They will not be gone.
They will likely reorganize under chapter 11 bankruptcy rules as much as all the airlines did after 9/11. The problem with GM, Ford and Chrysler in the USA is the union. The union stacks inefficiencies and bureaucracy at every level. The union makes it difficult to shift production and types of vehicles. Until they get the union out of there the same problems will persist. Probably the best thing in the long term is for them to declare bankruptcy and reorganize. |
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Wolverines! |
6 Dec 2008, 08:46 (Ref:2348692) | #18 | |||
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Quote:
If it hits the fan, as an ex General Motors Holden employee. that maybe decendants of the Holden Brothers from Adelaide could raise the capital and Buy it. No more interferance from the USA, remember the manaro ! F*** the Free Trade Agreement with USA, it's a oneway street for the Yanks to dump C#### onto Aus shores |
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6 Dec 2008, 08:51 (Ref:2348696) | #19 | ||
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I think Tom Walkinshaw should buy Holden.
He seems to have an impenetrable grip on something in the management chain of that business. Restart TWR by building Commodores for the world market. |
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Here’s hoping a random universe works out in your favour… The meaning of life… ENJOYING THE PASSAGE OF TIME! Our business is one of constant crisis interrupted by brief periods of intense success. Go woke, Go broke… #CANCERSUCKS #GOCHIKO |
6 Dec 2008, 09:19 (Ref:2348712) | #20 | |||
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Quote:
sorry, this would never happen as according to the US unions, they are the only ones who can build cars for the world market. Hence every Holden that leaves Aust, is a Chev. Last edited by fomoco; 6 Dec 2008 at 09:26. |
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6 Dec 2008, 09:50 (Ref:2348732) | #21 | |
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Auto Bail out approved in the States.Congress has approved short term loans.
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6 Dec 2008, 18:59 (Ref:2349107) | #22 | |||
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6 Dec 2008, 19:52 (Ref:2349136) | #23 | ||
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6 Dec 2008, 20:30 (Ref:2349152) | #24 | ||
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6 Dec 2008, 21:21 (Ref:2349177) | #25 | |
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The usual stalwart of jobs during periods like this, the Federal Government, is also cutting back heavily. Jobs that were forecast 8-9 months ago (advertised, interviewed for etc) are no longer available. In addition, the majority of Fed Govt jobs, when they are filled, are being filled as 'non-ongoing' positions which means they can terminate the employee with minimal notice.
Tax Office, for example, put on 450 staff Australia wide in May. Although 'non-ongoing' until Sept 30, the expectation within the ATO was for roughly 50% of these positions to continue until well into the new year with many then becoming permanent to replace normal attrition. A one month extension came about (to Oct 31) and then, Friday Oct 31 and the remaining 390 all walked out the door between 4:30 pm and 6:00 pm. In that 5 months the ATO had not replaced ANY of the permanent staff who also left and are still not doing so. Other departments are doing very similar 'recruitments' and 'terminations' - so obviously even the govt realises something bad is happening. (BTW if you have to ring the ATO for any reason - now you know the reason for the long delays in getting answered!) |
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