Tell the Holden bludgers to piss off

Holden is on the bludge for more cash to prop up their broken-arsed manufacturing in Australia.

The corporate bludgers of Holden should be told to get stuffed.

HOLDEN has asked the federal government to almost double the money it pledged to keep the company making cars in Australia or it will quit manufacturing in three years.

The company wants a further $265 million on top of the $275m already committed by Canberra, South Australia and Victoria, a source close to the negotiations told The Australian, because it cannot make a profit building cars in Australia.?

Its executives calculated that the decision by Ford to cease manufacturing in 2016 had given Holden extra bargaining power and it wanted to secure agreement with the Rudd government before an election to lock in the Coalition in the event of a Labor loss.

“Since the Ford closure announcement, Holden believes it can apply a lot of pressure to get more money,” the source said.

The Australian reported yesterday Holden was seeking an extra $60m but it is understood the figure is significantly higher.

Even if it secures the additional cash, Holden must then get the agreement of its General Motors parent to retool its Adelaide plant over the Christmas production break.

The source said Holden was losing money on every car it produced and there was little prospect of turning the operation around. Projections using a lower figure of $150m in additional government support meant it would break even at best and was only “postponing the inevitable”.

“If they get it they’ll be back for more,” the source said. “Holden is in a vice and it’s tightening.”