Holden posts its second-biggest financial loss on record as it winds down manufacturing

[Dr Smith]

http://www.heraldsun.com.au/business...-1227446008764

It means Holden has been in the red for eight of the past 10 years, posting only modest profits in 2010 ($112.4 million) and 2011 ($89.7 million).
The result wasn’t as bad as Holden’s previous year’s loss of $553.8 million, and was driven largely by redundancies and other costs linked to the 2017 closure of its car assembly line in Elizabeth in South Australia and the engine factory in Port Melbourne.
The result includes $345.9 million in “employment separation charges” and $9.36 million in asset writedowns.
Once costs associated with the factory shutdowns are excluded, Holden’s operating loss was $5.6 million in 2014.

However, the car maker received $80.8 million in government assistance, without which the financial loss would have been much higher.

I love the comment posted below the article and I've copied it to here:

Hey Joshua, your article about Ford's losses printed on 22 May had the following heading: "Ford Australia posts $191 million loss: in the red by a staggering $1.3 billion over 10 years". How come you haven't listed Holden's total losses in the same period or used the same emotive form of Headline in today's article. If Ford's losses are described as "staggering" and Holden has obviously made far greater losses even after almost double the Australian governments handouts then Holden's losses should be more like" Diabolical"? And let's not forget Holden easily sold far more vehicles then Ford in this same 10 year period!

So it sold more, was gov. granted more and made greater losses yet it's Ford which is the more staggering loser.