**GM preparing for bankruptcy**

[imugli]

I thought this was particularly interesting...

Holden's directors, in the notes to the financial statements, say they are confident in the car maker's future, but the confidence is dependent on a series of funding initiatives falling into place, including government money to help GM — primarily from the US and Canada — and a $200 million lifeline from an unnamed third party that relates to the Australian operations and is contingent on the US parent emerging from bankruptcy.

What I read between the lines from that is that Holden are currently operating because the Oz Govt has made a deal with GM to hand them $200mil upon their emergence from Ch.11 to not hive it off.