wallydownundy

It’s all happening in the automotive industry.

An analyst in the USA predicted a government bail-out of General Motors would supersede any shareholder rights - the prediction is shares are worth $0.00 (US dollars). No that’s not a typo. Shares in GM are worth nothing.

In the meantime Prime Minister Kevin Rudd and Industry & Innovation Minister Kim Carr announced an automotive support package to drive the industry in Australia.  The primary reason is to secure Australia’s manufacturing future. The secondary reason is to support the 3,000 component manufacturers in Australia.

The auto industry is the first victim in the “real economy” after the global financial melt-down. Let’s hope the industry’s future is secured here in Australia - too much is riding on it! (Forgive the pun.)