Donating Member
"GM posts $6bn loss as bankruptcy looms"
Just heard a news headline on channel 10 and thought i'd post up a relevant link:
FT.com / Mergermarket - GM posts $6bn loss as bankruptcy looms
Was wondering if they do go bust, what would happen to Holden over here?
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Donating Member
I can see someone popping up saying Holden will be sold to an indian or chinese manufacturer, so before they do, here is Holdens official response on Wednesday:
“In terms of Holden, what GM has said is that we are a viable, valuable and important part of its global picture. So to the answer to the question is Holden about to be sold off to the Chinese or anybody else – the answer is no,” Mr Whiffin added.
Seeking to make the situation absolutely clear Mr Whiffin said, “And to the question are there even discussions about selling off Holden or offering some kind of a stake a third party – no.”
If GM do go bankrupt which it most likely will it won't have a huge effect on Holden from what the consumer will see. Remember its Chapter 11 bankruptcy they will file so it will just allow them to restructure the company. They'll do the same as Chrysler and probably shut down for a month and do a complete restructure before they start operating again.
Tukin 18s
[QUOTE=1991_Vn2nV;1134923]I can see someone popping up saying Holden will be sold to an indian or chinese manufacturer.
[QUOTE]
I hope that never happens. hopefully Holden stays they way it is and pulls through, i rekon it will.
My Silver VZ wagon
Lowered and on Bilstein Coilovers on RJR 18" Wheels
2 hole mod and Cat Back exhaust
go in Luxury
there seems to be alot of theories thrown around about Holden but everythings yet to be proven ...
Moderator Puppeh
If Holden gets sold off I won't ever buy another one. Their quality is bad enough, imagine what it would be like if a two-bit chinese company got hold of them.
Are we there yet?
Im going to get some Fiat badges for my Holden.Just getting early.
VIP Member
As said before, I don't think many of these bankruptcies of major manufacturers will be permanent, they are just code for 'restructuring' for the recession.
now choppin the VZ
the creditors loose all their money and GM CEO's keep their millions. Thats not bankrupt, its criminal. They are never going to admit to talks with a third party, just lie lie lie, sell sell sell and then abolish customer support and confidence. Would anybody buy a new holden now if they said they were going to merge with Hindustan Budget Motor vehicles in 6 months time?
That the automobile has practically reached the limit of its development is suggested by the fact that during the past year no improvements of a radical nature have been introduced.
Scientific American, June 2, 1909.
Drinking and driving: there are stupider things, but it's a very short list.
Customize your life.
Didn't Holden just come out and say they are fully self funded ?. GM backed this up.
Originally Posted by Yoda
Control is a way of life
from what i was told, Holden is doing fine- GM is dragging them down with their debt by taking their profits
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