Apparently the banks weren’t too thrilled with the idea of writing off $27 billion in debt for a mere 10% stake in the restructured company. In response to GM’s proposal to swap debt for stock, a committee of share holders has made a counter offer.”

The original GM offer would have given 89% of the automaker to the UAW [similar to the Chrysler proposal] and the federal government.
The counter proposal would shut the government out of the stock swap deal entirely.
Instead, creditors and the union would get stakes of 58% and 41% respectively with current stockholders receiving the remaining 1%.
However; the “bailout” money that GM has received from the the US government would remain as debt and be paid back at sometime in the future

If GM accepts the banks offer – then GM-Holden will be saved [which I'm sure is bound to annoy Sick of Bogan]

Spot on, denial, it ain’t just a river in Egypt :)

After GM falls over, the Unions are going to be major stakeholders in whats left, cars being built in OZ, destined for the US market, I don’t think so :(

David Twomey, you do understand english right, you understand that IF is a possibility.

Also where in the “Leaner GM dumps Pontiac” article does it mention the $1 Billion loss to Holden annually.

Bavarian Missile (.)(.), lol u beat me to it, i was gona also post that article too.

Although with the loss of the Pontiac G8, it shouldn’t be hard for a person living in america to get hold of a VE, all they have to do is import a Chevrolet Lumina (LTZ, S, or SS) or if they want they can get a Caprice. Or they can get a Chevrolet Omega (VE commodore) from brazil.

Which are both left hand drive. Or if Holden is still keen on selling the VE in the US, then it can sell them as Chevrolet Lumina’s just like in the Middle east and South africa.

Thats was an obvious statement for Holden to make, they are hardly likely to say any different really. The Problem for Holden and GM is folk do not have any confidence in their products hence the Japanese stuff selling well.

However; I don’t understand is why GM are keeping GMC given that having multiple plants [operating at less than 70%] producing similar cars is one of the reasons GM are in the sh!t

Yet Holden says “..it is a great car that has been exceptionally well received..”

and

“..It’s worth noting that we shipped more than 36,500 G8’s to North America in 2008.”

Most of those cars shipped to the US have been stockpiled.

Yet more lies and deceptions from the Korean car company Holden.

Will holden really lose out on 1 billion profit???

perhaps you should re-read what you just quoted.
If they turned 1 billion a year from a lousy 30,000 vehicles they wouldnt be in this mess in the first place.

they may actually lose 1 billion in turnover though which is an entirely different story.

Too many people around here lately that dont understand numbers.
As far as Holdens pocket is concerned, this prob wont affect them in the slightest, but as far as trying to keep their workers busy……perhaps a different story, but as already commented on, they started scaling back production a while ago anyway