Holden wins taxpayer-funded aid deal

[davey g-force]

Thought I'd keep this discussion going..


Is the Holden profit our loss? | carsguide.com.au

Is the Holden Profit Our Loss?

I had a weep at Holden's "news'' announcing a "profit'' of about $90 million.

Why? Because it’s roughly the same amount us taxpayers handed over to Holden after they held the employment gun to our head.

It's doubly rude when you consider GM in the US last week announced a massive first quarter pre-tax profit of $1.7 billion. Multiply that by four and it's close to seven billion in one year. And they are still asking for handouts from the Australian Government -- for which read: the Australian taxpayers?

Holden will go all Aussie pride and say it's about maintaining a manufacturing industry in this country, maintaining specialised skills and "the multiplier effect''. But many people would argue that money could be better spent on new and high technology industries, health and education rather than on uneconomically making cars.

Then there's the national broadband network - a worthy candidate for extra funding if ever there was one. One wonders how many other local industries would get generous handouts if they went bleating to the government every time there was a blip in their profit line. Perhaps Holden has photographs... we'd like to see them.

 

[Full Spectrum]

I'm thinking someone had a slow day at work when they wrote that..

Yes please spend the money elsewhere and let the car industry die so car writers like this find a new job field.