Holden plant at Elizabeth being sold to a Japanese company ?

[jonk]

Came via the Crikey daily email news bulletin - in the 'Unsubstantiated tips & rumours' section.


"Ask Mr Rann and union officials why they aren't screaming about the possibility of the Holden plant at Elizabeth being sold to a Japanese company, who may or may not continue operations in South Australia. Consider the cataclysmic effect this would have on the economy and unemployment, quite apart from losing an icon dearly beloved by South Australians (and possibly Australians per se). Remember the outrage at the demise of Balfours* and wonder why there is not a murmur. Could it have to do with an election?"

*BTW, Balfours was an iconic bakery in SA.


And since GMH is broke over in the US, what would it really matter to their share price if they got rid of a small subsidiary OS ?

China really does look like being too good a tempting base to work from than Oz;be interested to know how much Holden actually has made in profit over the last few years ?

The above sounding scenario/sell off by GMH really doesn't sound that far fetched considering the circumstances GM has found itself in of late.

[Dave_au]

Wow, the rumour is just slightly a little bit cryptic.

As for GM, they have put in place a new restructure plan for their current financial position (or lack thereof), with little effect on Aussie production as it stands for the VE (although longer term R&D expenditure on cars may be in doubt).

While the sale of the plant to a japanese company, like Toyota, would be a good exit strategy for GM to dump the plant and run, I don't think that GM are in that dire position quite yet.

[Sourbastard]

easy enough to tell. Ill just paint "NIITAKA YAMA NABORE" on the front gates.

If Pearl Harbour gets bombed tomorrow, we know theres a definite japanese influence at the plant.

[4.9 EF Futura]

Lol - i dont make a habit of taking anything on crikey too seriously.... bunch of idiots. Want to see how political satire should be done then check out the Chaser

GMH profit figures are readily available... IIRC as a rule they trounce FoMoCos NPAT but ROI probably comparable....

[Wokkas]

I find that very very hard to believe. We do a lot of engineering work for GMH Elizabeth, and I know a lot of the top brass there. As far as I've heard, there are no plans for the immediate future of the plant.

It's a very easy topic for the media to fabricate stories about, what with the decline in new car sales, and the job cuts in USA.

I think GMH knew if it sent it's assembly operations offshore, alot of Commodore sales would go to Ford. Remember there are still some ****ers out there who actually buy Holdens because they think they are Australian.

As for Balfours... What's the story there? I thought they just moved factories? If their sales down, it's because their pies taste like sh*t, especially now Vilis is around.

[4.9 EF Futura]

Originally Posted by Wokkas

As for Balfours... What's the story there? I thought they just moved factories? If their sales down, it's because their pies taste like sh*t, especially now Vilis is around.

Think they restructured, ala Harris Scarfes... more of a management issue I think as opposed to a product issue... iconic SA businesses like that have a habit of resting in their laurels...

[Wokkas]

Originally Posted by 4.9 EF Futura

Think they restructured, ala Harris Scarfes... more of a management issue I think as opposed to a product issue... iconic SA businesses like that have a habit of resting in their laurels...

Well there you go. Never heard about that. Yeah, sad about about Harris Scarfes too. They tell me the pie floater van is foreign owned now too. That's beyond sad.

If you buy stuff from overseas, think about this really carefully, what can they do with our money???????????
Where is the only place you can actually spend Australian dollars?????
Sure you can swap currencies and all that crap but at the end of the day, we..you give someone our dollars, which in really basic terms is an IOU, ie you give me Hyundia, I give you IOU, to come back here and buy something off me/us.
What the hell do we expect overseas countries to do with billions of AU$s of IOUs from us other than come back here and buy something??? What would you do????

This is such a really basic principle that no one seems to get!

Oh bugger too much wine late at night again!@#%%

[Wokkas]

Originally Posted by 54Ghia

If you buy stuff from overseas, think about this really carefully, what can they do with our money???????????
Where is the only place you can actually spend Australian dollars?????
Sure you can swap currencies and all that crap but at the end of the day, we..you give someone our dollars, which in really basic terms is an IOU, ie you give me Hyundia, I give you IOU, to come back here and buy something off me/us.
What the hell do we expect overseas countries to do with billions of AU$s of IOUs from us other than come back here and buy something??? What would you do????

This is such a really basic principle that no one seems to get!

Oh bugger too much wine late at night again!@#%%

Ummmm, doesn't quite work like that mate.

When we buy something from overseas, we don't send over a bundle of Australian dollars. Our reserve bank withdraws the money from circulation, while their reserve bank adds it to their circulation. All done as electronic balances.

[act2617]

[QUOTE=Wokkas]Ummmm, doesn't quite work like that mate.

When we buy something from overseas, we don't send over a bundle of Australian dollars. Our reserve bank withdraws the money from circulation, while their reserve bank adds it to their circulation. All done as electronic balances.[/QUOTE

All trades are done in US Dollars !!

[XR Martin]

GM is shutting 12 factories and sacking 30000 employees by 2008.

Ford is doing the same though.....

[vztrt]

Originally Posted by XR6 Martin

GM is shutting 12 factories and sacking 30000 employees by 2008.

Ford is doing the same though.....

Ford is closing 11 factories and getting rid of 25000 employees. Most of this is happening in North America.

[birdy]

At the end of the day who gives a #### there's nothing you or i can do about it,We'll just ИИИИИ and complain or maybe threaten some sort of buyer boycott but time will beat us remember if you open the bonnet of your ford check how many parts are made in asia!!!!

Don't worry about how, it's the principle. Eventually someone "comes back" to get something in exchange for what they gave you.....no mater how complicated or high tech you want it to seem...money is simply an easy way to barter.

One thing you can do...make sure every mod or piece of equipment you put into your car is made or installed by sponsor on this site or similar local tradesman.

[kempster1]

Originally Posted by jonk

Came via the Crikey daily email news bulletin - in the 'Unsubstantiated tips & rumours' section.


"Ask Mr Rann and union officials why they aren't screaming about the possibility of the Holden plant at Elizabeth being sold to a Japanese company, who may or may not continue operations in South Australia. Consider the cataclysmic effect this would have on the economy and unemployment, quite apart from losing an icon dearly beloved by South Australians (and possibly Australians per se). Remember the outrage at the demise of Balfours* and wonder why there is not a murmur. Could it have to do with an election?"

*BTW, Balfours was an iconic bakery in SA.


And since GMH is broke over in the US, what would it really matter to their share price if they got rid of a small subsidiary OS ?

China really does look like being too good a tempting base to work from than Oz;be interested to know how much Holden actually has made in profit over the last few years ?

The above sounding scenario/sell off by GMH really doesn't sound that far fetched considering the circumstances GM has found itself in of late.

They can have it...
Then we can call Holdens Jap crap aswell

[birdy]

54 ghia could you live on 2 dollars a day enough to buy your rice which is the staple diet or would you prefer the life style you have being able to afford and run a nice blue ovaled car choice may be yours soon!!!

Hey Birdy, I don't get your point????

I was discussing why overseas countries come here and spend money ie buy up land or factories. The point being countries barter. If you buy something off an overseas country, the only thing they can do with your IOU is come back here and spend it, either dirrectly or indirectly.
I then said suport people here that make products or supply labour such as the sponsors, this keeps some of the $ here.