GM and Chrysler want $8,000,000,000 from Canada
 

GM and Chrysler seek $8 billion in aid from Canada
Posted Yesterday, 11:05 PM by Ralph Hanson

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General Motors and Chrysler have told authorities in Canada that they need as much as $8 billion in aid to stay afloat, more than double the original amount requested just three months ago. The latest request is in addition to the $26 billion the two Detroit carmakers are seeking from the U.S. government as revealed in their recent viability plans.

While no specific figure has been given for the Canadian aid request, GM and Chrysler said they expect amounts proportional to the loans they are seeking back in the States. Unfortunately for the Canadian government, it has little to no bargaining power as both GM and Chrysler have already threatened to shift production and jobs to the U.S. and Mexico.

A collapse of the Detroit 3 would be disastrous for more than 600,000 Canadian workers, mostly from Ontario. Canada is currently responsible for 17-20% of GM’s North American production and any aid would be proportional to this figure, reports Automotive News.

Even with the aid, GM still plans to cut its Canadian workforce to 7,000 people by next year - down from a high of 20,000 in 2005. GM has also warned that its current pension and healthcare obligations were unsustainable and that it is considering establishing a union-managed healthcare fund in Canada - similar to one taking shape in the U.S.

I believe these workers will have to face the demise of these companies inevitably. I'd rather not see our country (or the USA) pay billions in the meantime.

LET THEM FALL.


NO BAILOUTS.


Fuck those workers. Seriously, overpaid, underskilled, building products nobody buys.


Shit like this will fuel a revolution.

you chose to work for GM then you go down with them.

We'd be better off investing that money in Honda/Toyota to get those GM plants converted to make cars people will buy. that way people can keep their jobs, making good vehicles.

That money could be used to find other jobs for the workers. Don't give it to large, non canadian companies.

Use that 8 billion dollar to lower the GST!

Why should we save them?

So many GM dealers in the lower mainland have been closed...

exactly

Shut those stupid business down, they have billions sitting in their personal accounts in Sweden already. Don't pay tax payers money for their failure. Canada can take the plunge of having a high unemployment rate temporary.

yeah US is looking to get Switzerland to release names and get those fawkers to cough out the money.

why not put that money to getting those people jobs in canadian companies or use it to start canadian companies rather than to companies that are just going to bully our nation?

this would make too much sense so I don't see our country doing that.

I wonder how many mortgage failures will result from those workers loosing their jobs

ummmm, how about we can go tell them to fuck themselves? Since the American Gov't can't help them out they come crying to Canada... fuck chrysler, fuck GM, they make shitty cars anyways.

Can't you establish enough business for 600,000 people for that money? Not to mention that you'll end up making a profit when it's their own business.

Yay imports, well most imports. I guess. :confused:

it's all part of business cycle, let the weak fail and the strong become stronger. GM and Chrysler needs to go, if our government does bail them out, everyone pay taxes should be outraged.

Failure is the secret to Success. That's what I learned today. :)

Class Dismissed....:thumbsup:

ummmmmm, how bout NO u fat mother fuckers!

While I agree our government simply is not their money tree, what you have been missing is the effect of the deeper recession if the GM and chrysler really collapse. 600,000 people lost the job, we easily have to pay 6 billion to them when they go for EI. No, we can't find them more jobs with that money, because we are in recession period. Honda, Toyota and whatever elite brands that you desired has already struggle to sell anything in their lot. Soon they will have to get rid of their elite employees due to our economy, very likely to close all their plants in Canada, and the cycle repeats. You might not think that will affect you, but I bet you that you are so wrong, couple of more friends has been laid off just a week ago and we all can see the big wave coming like in the States right now. By that time you might wish GM was still alive, and probably regret your internet bitching "I don't care if they close or not", " they shouldn't be alive since no one needs them anyway"

Solution? Let Hyundai buy them and produces Genesis Coupe on our shore, with a LS9 in it, with a ticket price of 50,000! ;)

lolz, let them whither away. Someone will eventually take their place and hire those workers again.

Which do you prefer:


Short term pain right now

Or

In the future, a complete and utter collapse

I want a lot of things but that doesn't mean I'm going to get them nor am I entitled to having them. Handouts are totally unnecessary.

Leykis says to take bailout money give it directly to the workers for education in another field. Makes much more sense.

Totally does. MUCH more sense.

what confuses me is canada doesn't just have 8 billion sitting around so we go borrow from banks. but banks won't lend to the car manufacturers so what does that say about how these companies are doing.

You bunch of domestic-car-haters will have a really bad day if one of the Big 3 goes belly up.

Kiss the economy goodbye for a long time... not just those who work for GM, it'll fuck up everyone.

Oh, and if you love imports so much... GO THERE INSTEAD!! :)