End of the line for Holden

[ERA2076]

Originally Posted by tomcat racing

So good old GMH have basically had their entire workforce paid for by the australian taxpayer for the last 12 years, and they bleat on about how hard done by they are.

Most of the profits they have made have been sent back to head office, GM USA, to help prop up that bankrupt company and for those bosses to squander by their ineptitude.

Originally Posted by tomcat racing

I would suffice to say the real story is GM USA has spat the dummy when they have been told their pipeline of free money from me and you is going to be cut off, they have had it too good for too long. GM doesnt give two hoots about Australia.

Originally Posted by tomcat racing

So lets be clear,
Its got nothing to do with the unions son, but its got everything to do with the mismanagement of GM USA.
I wish i could have had my wages bill paid for all of my employees for the last 12 years by you and other taxpayers.

Tuesday, 10 December 2013 14:59

U.S. Treasury Sells Its GM Shares at a Loss, Claims Taxpayer Victory
Written by Bob Adelmann

Treasury Secretary Jacob Lew announced on Monday afternoon that his department had sold the remaining shares of GM that it acquired following the forced bankruptcy of the auto giant in 2009, and made the $10.5 billion loss sound like it was a victory:

The President’s leadership in responding to the financial crisis helped stabilize the auto industry and prevent another Great Depression. With the final sale of GM stock, this important chapter in our nation’s history is now closed.

The President understood that inaction could have cost the broader economy more than one million jobs, billions in lost personal savings, and significantly reduced economic production.

They should have been forced out of existence in 2008 along with GE, Citi, Chase Morgan, Merrill Lynch, Bank of America and Wells Fargo. One of the largest transfers of debt to U.S. citizenry - at the end of a gun.

I would not drive one of their vehicles if it were given to me.