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Australian Senator Offers to Buy Holden From General Motors for $1

If something is worthless but you sell it for $1, you’re landing a very good deal. The same should apply for General Motors’ Holden brand from Australia and New Zealand, which GM has pulled the plug on earlier this year.
Senator offers to buy Holden from General Motors for $1 51 photos
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Putting a new spin on the classic “I’ll make you an offer you can’t refuse,” Queensland Senator James McGrath criticized General Motors for the decision to kill the Holden brand after a long partnership and in complete disregard of the dealers here. So, he’s offering to buy the brand for as little as $1, GM Authority reports.

One buck is a trifle whichever way you look at it, but especially in this context. However, McGrath’s reasoning is that, if GM thinks Holden is worthless, $1 would be actually more than it’s worth. So GM would be getting an awesome deal.

“If General Motors think the brand is worth nothing, then hand the brand back to Australia. Give it back to the Holden dealers,”
the Senator said in a recent speech. “In fact, I’m happy to purchase the Holden brand from General Motors for a dollar. I’ll send you, Ms [GM CEO Mary] Barra, a dollar in the post and you can give us the Holden brand back and we’ll give it to the Holden dealers.”

The offer comes in a context in which GM is currently disputing with Holden dealers in court over the compensation packages offered after pulling the plug. The Senator here believes the automaker is using the current international crisis to leave the dealer network, comprised mostly of family businesses, stranded and / or tied to further “oppressive agreements.”

“Our motor industry in Australia means our retailers, mainly family businesses, who invested heavily in facilities and people over the past 100 years at the behest of the manufacturers,” McGrath explains. “I’m very concerned at the apparent stonewalling by General Motors with regard to what should be good-faith commercial negotiations with its dealers in relation to their exit from the Australian market.”

He also goes as far as to compare GM’s behavior to ghosting after a one-night stand. A very successful, 89-year night stand.
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About the author: Elena Gorgan
Elena Gorgan profile photo

Elena has been writing for a living since 2006 and, as a journalist, she has put her double major in English and Spanish to good use. She covers automotive and mobility topics like cars and bicycles, and she always knows the shows worth watching on Netflix and friends.
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