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.