Comments on: GM could be liquidated if sale not approved

By: carforall.net

carforall.net — Sun, 05 Jul 2009 12:19:20 +0000

Shak…….Did you read the report on Holden on the AGE website? Holden are in massive trouble as well and there is no guarantee they will survive. They may well be the next casualty of the auto industry…….lets hope so. Dont believe the usual Holden spin……..they are in bigger trouble than anyone thought.

By: RoFlmaTiC

RoFlmaTiC — Sat, 04 Jul 2009 14:38:39 +0000

Frontman said: “I read somewhere recently that a finacnial consultancy firm employed soon after the demise of Wagoner cost GM 125Mill US and couldn’t come up with a restructuring plan. (They still got paid though!).”

Since when have financial consultancy firms been part of the legal fraternity? Do you realise the bulk of the lawyers involved are actually in house; ie employees of GM itself?

By: Limited Slip

Limited Slip — Sat, 04 Jul 2009 11:28:44 +0000

Phil C that is correct.

By: jon

jon — Sat, 04 Jul 2009 10:35:48 +0000

Sorry Phil C I don`t agree, but only time will tell I guess.

By: Phil C

Phil C — Sat, 04 Jul 2009 04:37:18 +0000

For those that haven’t read the Age article. It has facts which suggest that the GMH liabilities currently exceed net worth by $250M and that was at the end of 2008 calender year. They predict it is much worse now. Ie exports have dropped by 83-85% depending on where you read, C’dore sales are down 11% this year and upcoming expenses for Cruze have yet to be paid. Ouch, ouch, ouch.

PS The new saviour, the Cruze, just this month was rated 4th best small car by Wheels mag. VW Golf (new), Mazda3 (new) and Focus (5yrs old) beat it.

By: Phil C

Phil C — Sat, 04 Jul 2009 04:33:17 +0000

Jon, you are wrong. The Falcon will not be replaced by Taurus. Head of Ford Motor Worldwide engineering, Derek Kuzak, said the Falcon is iconic and is RWD. The unbelievable good Falcon i6 motor is safe up to Euro5 which comes in 2015. So, Falcon is safer than GMH C’dore as far as future planning goes.

By: jon

jon — Fri, 03 Jul 2009 11:15:48 +0000

The bottom line is Holden will survive unfortunately and so will the Commodore because our Government, labour or liberal will keep propping them up with our taxes.If any one car being built here is in troube its the Falcon, I truly believe the Falcon will be replaced with the Taurus but one with cosmetic changes to Australian tastes.

By: Roddy

Roddy — Fri, 03 Jul 2009 09:50:03 +0000

The same old spin from the same tired old Ford fans

By: SamR

SamR — Fri, 03 Jul 2009 09:37:09 +0000

I think Holden will survive even if the worse happens to GM. Rudd will give Obama a call and mention our shared history. As a last resort he will beg and throw money in.

They should have one more life left.

By: JEKYL & HYDE

JEKYL & HYDE — Fri, 03 Jul 2009 07:40:42 +0000

i wonder what odd’s one could get on g.m. being liquidated when obama own’s it.do i hear “national security”…