Comments on: Dear Kevin Rudd, Re: The Car Industry

By: fourby4

fourby4 — Sat, 04 Apr 2009 12:05:25 +0000

GM lose too much last year. That bail out is nothing but extra money to pay for their dept.

By: fourby4

fourby4 — Sat, 04 Apr 2009 07:05:25 +0000

GM lose too much last year. That bail out is nothing but extra money to pay for their dept.

By: fourby4

fourby4 — Sat, 04 Apr 2009 05:05:25 +0000

GM lose too much last year. That bail out is nothing but extra money to pay for their dept.

By: Porsche Blog

Porsche Blog — Mon, 01 Dec 2008 13:50:11 +0000

Despite being of the right, the American Government has taken stakes in banks as part of the financial bailout. For an Australian Government of the left to take a similar step in the car industry would not be difficult by comparison

By: Politics [2/3] (Supporting our Car Industry) « Matts Mind

Politics [2/3] (Supporting our Car Industry) « Matts Mind — Tue, 25 Nov 2008 23:57:08 +0000

[...] to note that GM’s market capital is less than we’re investing; if it were allowed – unlikely – Australia could buy GM. Of course we’d also be buying the losses that they’re [...]

By: paulzag

paulzag — Wed, 19 Nov 2008 00:23:36 +0000

Ford, GM and Chrysler have asked Congress for $25 Bn bailout overnight. GM could run out of cash in weeks.

http://news.bbc.co.uk/2/hi/business/7736301.stm

By: Betsy Buchanan

Betsy Buchanan — Thu, 13 Nov 2008 22:44:14 +0000

How interesting to find so many similarities between Australia and the U.S., most interesting reading you have to offer here. Thanks so much for the insight.
Many thanks,
Betsy Buchanan

By: Aaron Spence

Aaron Spence — Thu, 13 Nov 2008 02:57:53 +0000

Love the letter, although as pointed out above the US$20+ billion in current obligations + ongoing losses would make it VERY expensive.

The other item that only just occurred to me is.... if they bail out the Oz arms of 2 US companies rapidly heading for bankruptcy, they'll just take the money and run. Difficult situation no doubt.

I watched 'Who Killed the Electric Car' recently & was stunned that GM had a fully viable electric city car + infrastructure in some parts of California 10yrs ago... only to destroy it for no obvious reason.... other than stupidity. When I say 'destroy' it, they literally destroyed every one of the vehicles they built at the end of the lease even though hundreds were offering to continue leasing or buy the cars.

http://www.whokilledtheelectriccar.com/

By: Jeremy LeBard

Jeremy LeBard — Mon, 10 Nov 2008 23:28:24 +0000

Why not just invest in Tesla motors, bring them to Australia and let the old oily car industry collapse? Then set up funds to look after Australian un-employed for 6 months till they find another job. Surely this would be cheaper and better?

By: Brent

Brent — Mon, 10 Nov 2008 23:02:19 +0000

I almost didn't read this for fear of another outline of econ101 that would only depress me about this decision further. Instead I did read it and I'm glad I did. Brilliant.

FYI – if you do send it via snail mail to one or multiple departments, it will cost $250 of tax payer money to process it. That's the stat APS quote for the cost of replying to each and every letter sent to a government department.

If it takes $250 to reply to a letter, do you really want them to own and already uncompetitive car company.