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Old 14-04-2009, 10:03 AM   #73
BigAL_250
and that's how it is
 
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Join Date: Aug 2005
Location: Adelaide
Posts: 495
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How about we see the rest of that article:

Straight back to the normal dribble, media in this country just can't accept that for the first time in decades Ford is doing better (relatively) than it's red counterpart.

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"People falsely believe that Ford is doing okay. That's not true," he said.

"American Ford's sales are down 43 per cent in the first quarter of this year.

"Ford is losing billions just like GM; it's just that Ford arranged private sector finance before the recession, so it's not quite so obvious how serious things are."

Amid the financial turmoil, the big three US car makers - Ford, Chrysler and Holden owner General Motors - have asked the US government for a loan guarantee of $US25 billion ($37.51 billion).
[Ahh... what the, isn't this the loan Ford didn't take]

Earlier this year Toyota, the world's No.1 car maker and Australian market leader, accepted a $35 million federal government grant to build a hybrid version of its four-cylinder Camry sedan in Melbourne from 2010.

But Mr Matthew-Wilson said the money is a waste.

"Globally, there's a glut of new cars at bargain prices, yet Australia, which produces a small number of high cost cars, is trying to compete with countries like China, which produces ten million cars a year and pays its car workers as little as one dollar per hour.

"The Australian government can throw $6 billion or $600 billion at these car plants, but they still won't be economically feasible," he said.

"Australia's car plants are losing money faster than a drunk at a casino and there's no feasible way of turning this around.

"The Australian car industry can re-focus on small cars, green cars, blue cars or red cars. None of this will make the slightest difference."

Mr Matthew-Wilson believes the government money would have been better spent by giving it to the affected car workers.
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