$6bn rescue package for automotive industry

[bornwild]

$6bn isnt much in terms of car companies

Didnt holden spend 1bn on development of the latest commodore?
and thats with infrastructure in place already

Yeah but Holden was developing a complete new template for GM to build tens of models on.

[stevedee3]

For anyone who hasn't read it, here's the government's paper "A New Car Plan for a Greener Future":

http://www.innovation.gov.au/automot...ENERFUTURE.pdf

[daiflu]

Funny thing is...they're sacking them 1 by 1!

Just like any other manufacturing company at the moment.
Would sacking them all at once be a better option?

[tim_]

This labor ****ing government is throwing our money around willy nilly!
Sorry i'm just pissed of at the current rate Labor are shitting money to these companies.

i agree. it's burning a hole in their pocket.

[Wraith]

Hmmm, this is an interesting one and on the surface of it all, ie: what we see, read and/or know it would appear to be a totally wrong thing to do...

But as always in the World of big business and politics, there are so many unknowns to the general public, we don't know what all the deals going on are about, we don't know what all the facts and figures are about, so we can never know what the appropriate decisions would be, or if those decisions made by Government are correct or not ???

I'm sure in saying that for the Government to be appropriating a sum of $6 billion into a company or industry sector or similar, they must have a clear mandate on what they're doing and what they plan to achieve, in this case it's spread over a 13 year period, so there must be some major long term goals set out, all we can hope for, since it's something that has been put into action, is that there's a positive/successful outcome for Australia...

Don't know what's contained in the article above put up by stevedee3, the damn link froze my computer...would've liked to have read it

[Shaun]

Having the government invest heavly in both GMH and Ford Motor Company they are securing jobs. There keeping the Unemployment rate down.

The government wont loose out. They are trying to keep the economy afloat.

Also the government will make money out of Export that GMH and Toyota as well. Both are exporting products overseas.

At least the Rudd Governement are tying to combat what The USA and Europe are already hit hard buy. We are going to go into that big dirty
'R" word but if the government do what they have done atm so far the blow could be less then other countrys are expriencing.

If we do end up like the USA and Europe it will last for about ten years. The Rudd Government have basically said we will support you through this down period which means they support Australian Jobs and industry.
The Best thing the Reserve Bank can do is keep dropping interest rates as people will start spending again.

[bornwild]

Mate, investing $6bn dollars is a short term thing..."give a man a fish and you feed him for a day, teach a man to catch fish and you feed him for a lifetime".

Both GMH and Ford are fundamentally crippled companies. Crippled by poor decision making and poor investments. And they are not Australian owned. Ford would do so much better if Ford US allowed them to export...but nooo Ford US doesn't let them export the Falcon because noone would buy the Crown victoria anymore.

[stevedee3]

Don't know what's contained in the article above put up by stevedee3, the damn link froze my computer...would've liked to have read it

Don't know why that would be... anyway here's a link to the HTML version:

http://www.innovation.gov.au/automot...FUTUREweb.html

[rjastra]

$6B.... perhaps federal labor will take a leaf out of NSW Labor and can the whole thing in a year.

[Huhness]

http://www.news.com.au/business/stor...93-462,00.html

Har Har Har.. Lining the pockets.. Stupid ****ing Government.