JUNE 1, 2009, 7:52 P.M. ET

MELBOURNE (Dow Jones)--GM Holden Chief Executive Mark Reuss said Tuesday the bankruptcy of parent company General Motors Corp. (GM) is a positive opportunity to restructure and the Australian business is "safe", with no job losses planned for now.

Reuss said Holden is well placed as one of GM's three vital subsidiaries in the Asia Pacific region and that the bankruptcy will not affect the Australian unit's access to capital.

"We are a viable, sustainable business in the long term," he told reporters

"We are cashflow positive, we are liquid (and) on the verge of turning a profit here this last month even in a down business."

Reuss said Holden has moved quickly to respond to the downturn, cutting shifts and freezing pay, and is well placed with the best selling car in Australia in the Commodore and new small car the Cruze on the way.

"With all those things in place, with the right operating and structural cost, we can be very profitable here," he said.

Holden has no plans to cut jobs at this stage and the company does not have debts owing to its parent, Reuss said.


-By Alex Wilson, Dow Jones Newswires; 61-3-9292-2094; alex.wilson@dowjones.com

Thank GOD cos I'd be shattered if we lost another aussie icon! I'd still buy a new commodore over any other new car out there today. Im just not a fan of thier older ones unless all done up.

Love my toyotas.

anti-aussie! I drive a lexus lol

v8 Lexus FTW

Damn toyota build some good cars

used to build good cars....all the new ones are family poo! Aurion...pffft front wheel drive with 200kw? what a waste, I dont care if its supposed to handle better or whatever

Agree completely, i guess when i said build quality i meant the age of the car i usually buy rofl.

and besides rear wheel drive cars handle better, especially when you have the ass end out sideways, lets see them do that in an Aurion

well, i gotta say, talk to me when your in a TRD Aurion.

My dad has one ;>, only cause he owns a toyota car yard

my sigma is old and shit, thanks to extra sugar free gum

rofl nice dog.... fucking hilarious

fuck cars... im getting a ducati

whats that gazz, youre getting a BUGATTI?

oh shit that horribly backfired when i actually googled bugatti, and instead of a shitty beetle i was expecting, it returned a pretty sexy car..

you just wanted to get that pic up didn't ya dog

very sexy indeed

hahaha no i wanted to diss gazz because i thought thatd make me a cool kid

and i know nothing about cars unless they have funny ads or look sexy.

is that a remodelled bugatti because I thought they looked alittle different to that

i wouldnt have a clue, i just google image searched it and thought 'damn that car is kind cool'

ok yeah im pretty sure it is, the other pictures were slightly different and not so 'its like the top of the car is a single piece of curved glass, very safe indeed'


but that was the only picture under 1000 pixels any side so i thought id post that over a gigantic one. and its a sweet picture.

YEAH I FUCKED UP WHOOPY DO I LEFT A LETTER OUT

i do that like 4 times with every post and just continually edit them any time i notice
at least its not a GRAMMATICAL ERROR unlike some geniuses around here..



i mean, what are you talking about wounded? i got it right.

Wounded wrote:

... your's

don't need an apostrophe there mate
just play it safe like me and don't use em when you can get away with it.

rofl sneaky cunt

i was actually thinking you'd say 'wtf are you on about'. did you open up Word in disbelief to confirm how RIGHT i was? and be like "omg that stupid dog, what would he know.. fuck spellcheck will show him... WHAT THE FUCK IS THAT RED SQUIGGLY LINE DOING THERE?!?!"


i remember one time at like 3 am i was on TS with just quacks, and he posted something to diss someone, and i was like 'dude you made a mistake' and he promptly said something like 'fuck up dog no i didnt' and edited MY post quoting his mistake as well as his own.

i <3 u Quacks

i know
cause if i dont he'll beat me over the head. and take away my EVERYTHING


kidding quacks. youre a nice man so dont think everyone sees you as an angry person. just blame the Dog and it'll be alright.