In case you don’t follow the goings on in Paul Hogan’s homeland, Holden is GM’s Australian division. There aren’t many similarities between Detroit GMs and their Australian cousins (maybe a good thing), save the old Pontiac GTO (Holden Monaro) and the new Pontiac G8 (Holden Commodore). Another difference to add to that list is that while GM is bankrupt, Holden is not. In fact, they’ve plenty of lolly in Oz.
In fact, they’re sitting so pretty, they haven’t had to cut jobs yet, although they’ve cut salaries across the board. Holden’s chairman, Mark Reuss, says that the company is cash-positive, with flexible manufacturing capabilities to weather fluctuating demand, and set to ride a future economic upswing. Sounds great – maybe GM will pull a play or two out of the Holden marsupial pouch and utilize more of their product line and manufacturing capabilities to revitalize the line when things get better. We can only hope.
[Source: Sydney Morning Herald]