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GM Wants Another Taxpayer Handout

The El Camino-like Holden SSV Ute is one of several unique vehicles GM makes in Australia. Photo credit: General Motors.

General Motors (NYSE: GM  ) , through its Holden subsidiary, is one of three companies making cars in Australia -- but lately, all three have come under pressure, thanks to exchange-rate shifts that have made imports much more attractive to Australian consumers than their domestic cars.

Ford (NYSE: F  ) has responded to those pressures by saying it will close its Australian factory, but GM -- and the third company, Toyota (NYSE: TM  ) -- say they'll stay if the Australian government sends them some financial aid. In this video, Fool contributor John Rosevear looks at GM's latest demand for Aussie cash, and at whether the General is likely to have any success in its latest bid for a taxpayer-funded subsidy.

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  • Report this Comment On July 27, 2013, at 6:13 PM, badone1965 wrote:

    hell no GM we gave you good money to stay in business .. that stay here in the UNITED STATES not to run off and open factories with cheaper labor.

    i swear is there any company that has the integrity to stay here and treat the people right who has made them what they are today?

  • Report this Comment On July 28, 2013, at 12:02 AM, pwkrp wrote:

    @badone, how dumb are you. GM has been doing business in Australia for years and years.

  • Report this Comment On July 28, 2013, at 12:03 AM, pwkrp wrote:

    @badone, GM started in Australia in 1926 with the Holden.

  • Report this Comment On July 28, 2013, at 12:07 AM, pwkrp wrote:

    @badone, GM in Australia is for their market, not the USA. And profit they make in Australia comes back to it home base in Detroit.

  • Report this Comment On July 28, 2013, at 10:17 AM, grbbiker wrote:

    dear pwkrp, what is your proof that profits come back to the u.s. to get taxed here , compared to apple and most others who escape u.s. taxes by leaving the money where they earn it ? grbbiker in maine

  • Report this Comment On July 29, 2013, at 12:44 PM, SkepikI wrote:

    JR- I know you like GM, but this kind of compulsive? behavior ought to make you think, if not outright worry

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