December 2013 – Who crashed the economy?

Holden closure confirmed; Has Australia’s housing bubble played a role?

December 11, 2013 admin 35

Holden managing director Mike Devereux has today officially confirmed the closure of Holden’s manufacturing facilities in Australia. The company has decided to cease manufacturing operations at the end of 2017. Today’s announcement puts at grave risk Australia’s entire automotive manufacturing industry as land man standing, Toyota and the dependant component …

Holden expected to announce closure as Dutch Disease takes firm hold

December 10, 2013 admin 11

While Holden’s Australian management refuse to confirm it, it is widely believed General Motors in Detroit has last month signed off on a global restructure that includes the closure of Australia’s manufacturing plants in Adelaide and Port Melbourne. The high Australian dollar and labour costs contributed to the decision. It …