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08-05-2009, 08:53 PM | #181 | |||
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They're a bit like a brain dead patient on life support: the body will keep living while its artificially supported, but in reality its too late..
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08-05-2009, 10:08 PM | #182 | |||
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09-05-2009, 01:25 AM | #183 | |||
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The US wont let GM go down. Would people's opinions be different if it were the Blue oval that were in trouble?
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09-05-2009, 01:37 AM | #184 | |||
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It aint far off it. They reckon it wont be too long before the markets pick up, but it will be a few years before general confidence will be back to the levels of 8 months ago. It all happens in cycles, but you cant rely on it being good for too long... Ford will be on the same path, whether they go as far will be another kettle of fish.
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09-05-2009, 01:54 AM | #185 | |||
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With Mullay steering the ship they should pull out ok. After he leaves will be a test for Ford not to go back into the bad old days. But I think Mullay will set Ford US up in a way to be diverse so when times are good they will be able to sell more pickups, SUV's and large sedans, but when times are tough they will have small cheap vehicles to help minimise losses.
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09-05-2009, 02:15 AM | #186 | ||
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.......................
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Just a boot full of garretts makes the ba go round. :eclipsee_ Last edited by ColourHide; 09-05-2009 at 02:23 AM. Reason: double post remove please |
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09-05-2009, 02:21 AM | #187 | ||
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Unfortunately i think we are going to have holden stay around for sometime now.
GM(die) will restructure their business and holden will be a large part of their future. They claim holden is the only profitable arm they have, They wont cut it off anytime soon.
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09-05-2009, 02:25 AM | #188 | ||
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Holden wont go broke, if GM file for backruptcy holden them self wont be greatly affected as it is majorly australian owned, they are listed as Holdens LTD and no longer General Motors Holden.
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09-05-2009, 02:30 AM | #189 | |||
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Ford has resized for this market condition. Right now they would not be able to match production of 8 months ago. Remember, they've closed down 17 plants and reduced 52,000 people, so they are prepared to operate with a smaller market. In the years to come as the market increases they will be able to hire people at 1/2 the hourly wage and reduced benefits to ramp up production. The "bottom" that we are at right now is not going to be the new norm The new norm. will not be what it was before, but more than now, and that is what Ford has resized, compensated, and planned for. Steve
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09-05-2009, 02:40 AM | #190 | |||
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09-05-2009, 08:51 AM | #191 | ||
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Actually if you read between the lines of just about every press release that has come out of Detroit over the last year, Holden has never been mentioned amongst the doomed. Just about everything else that GM has in their arsenal has but Holden for some reason has escaped this indignity. Even Pontiac (even though they were franticly trying to resurrect it) had still been slated as disposable all along right up until its eventual demise.
GM if it survives still sees Holden as a good brand and a shining light amongst its global empire. If GM survives and closes down half of its operations and off loads its other half, Holden may be in an even more unique position to supply R/W drive to its global markets. As for Ford Aus, this is a fantastic position to be in because if Holden not just survives but prospers under a new and refreshed GM, then Ford Aus will stand a better chance of presenting a good business case for the next generation R/W drive platform. The only reason we get our R/W drive hi-po sedans in Aus is because of the competition between Ford and Holden. Lose one, we lose the other. Personally I can't see why GM would want keep Holden so close under it's wing if they did not have some future big plans for them. I think that if Holden made clumsy F/W drive cars like an Aurion Camry etc, they would of been doomed like the rest by now. |
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09-05-2009, 09:32 AM | #192 | |||
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No ! Holden are 100 % owned my GM. If not, who in Australia own them ? Seen a listing for Holden on the Stock market have you ? Holden ARE in deep trouble don't believe the spin, they can't pay the redundancy payouts for their employees..... |
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09-05-2009, 09:34 AM | #193 | |||
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Found this one
By Peter Whoriskey Quote:
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09-05-2009, 01:19 PM | #194 | |||
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09-05-2009, 06:38 PM | #195 | |||
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Holden LTD no longer exsists. It's Current name is "GM Holden".
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09-05-2009, 11:09 PM | #196 | |||
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10-05-2009, 12:19 AM | #197 | ||
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before Gm bought out holden were coachbuilders, they were making local bodies for us imports, Ford, GM and Chrysler/dodge. They then went on to be the australian out post of GM
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10-05-2009, 08:51 AM | #198 | ||
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Keep in mind chapter 11 doesn't mean the end of G.M !!
Its actually better long term if they do, the sooner the better.. Heaps of management would get a shake up also... If I remember correctly ?? Some of their airlines are under chapter 11.. On February 1, 2006, United emerged from Chapter 11 bankruptcy protection under which it had operated since December 9, 2002, the largest and longest airline bankruptcy case in the history of the industry.. How chapt 11 works.. http://en.wikipedia.org/wiki/Chapter...ed_States_Code So a company can come back!! It seems G.M is going to down size big time!!
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12-05-2009, 12:35 PM | #199 | |||
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Some more news on the GM Bankruptcy
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12-05-2009, 01:07 PM | #200 | ||
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I gotta wonder what the hell is going on at GoAuto lately. When that article was published this morning, it had a title of "Holden faces bankruptcy" - quite misleading and incorrect. Someone has obviously given them a rude phone call because they've changed it.
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12-05-2009, 01:34 PM | #201 | ||
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"GM Holden spokesman Scott 'Deny Everything' Whiffin said yesterday there was no suggestion Holden was going to go bankrupt."
At least GMH's PR team is running on all cylinders. |
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12-05-2009, 01:42 PM | #202 | ||
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The interesting thing is that in Australia company's cannot become 'bankrupt'. They can be put under administration, enter receivership, or enter liquidation. I'm not sure how a foreign owned company would be dealt with, but if it occurred in Aus then it could not undergo bankruptcy. Only non corporate entity's such as individuals and partnerships can become bankrupt.
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12-05-2009, 01:48 PM | #203 | |||
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That is to say, if Holden needed the support of it's parent to remain a going concern (which could be possible if Holden bore the brunt of a number of costs eg engineering etc) and then if the parent collapsed, the company may not be solvent, resulting in the directors going to a VA or a race by what I would assume to be a local banking syndicate to appoint a receiver. |
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12-05-2009, 01:55 PM | #204 | ||
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Well for receivers and managers to be appointed a default under the relevant charge would need to occur first
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12-05-2009, 01:57 PM | #205 | |||
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I certainly agree that if GM withdraw their funding then Holden faces insolvency.
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12-05-2009, 02:10 PM | #206 | |||
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12-05-2009, 02:21 PM | #207 | ||
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I think the last line promoting GM's JV with Shanghai Automotive in China & its shared owndership of Daewoo are more telling with respect to where GMH is headed.
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12-05-2009, 03:17 PM | #208 | |||
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Your right, but it depends on the charge document. Usually most charges can be "defaulted" if an Insolvency Event occurs or the company stops or threatens to stop carrying on its businesses or a material part thereof without the consent of the bank. Regardless the directors would jump straight to VA as the repercussions of trading whilst insolvent are significantly more onerous than in the US. Going to VA should allow a banking syndicate with security over substantially the whole of the company to appoint a receiver and manager within 13 days of the VA commencing. I'm sure if any of these occur, the validity of appointment would be challenged one way or another whether it's a VA or an R&M. |
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12-05-2009, 03:27 PM | #209 | |||
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12-05-2009, 03:29 PM | #210 | ||||
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