It's no surprise GM has decided to close down its Australian factories. They denied it at first but finally owned up after Warren Truss and Joe Hockey goaded them into telling the truth about their intentions during Parliamentary Question Time. GM's first female CEO, who takes over in January, finally spilled the beans. We've been down this road before, GM is just another manufacturer taking their business out of Australia because our high wages cut into their profit.
There are two points of view, Labor leader Bill Shorten says the government should continue to pour millions into GM when common sense tells us it's a complete waste of money. We should be giving that money to an Australian enterprise capable of paying our high wages, yet clever enough to still make a profit.
It's sad news for the 2,900 Holden workers, especially at this time of year, but at least now they know what their future holds. Holden's Port Melbourne plant that makes the V6 engine will close in 2016 and the Elizabeth factory will close in 2017.
Almost every face has a mortgage
Goodbye Holden, thanks for the memories.