Tuesday, April 28, 2009

Billion$ to save 4,400 GM jobs

GM's newly announced re-structuring plan calls for the Canadian workforce to be slashed by 60% over 5 years, shrinking it from 10,300 down to 4,400 by the end of 2014. Already 4000 job losses have been announced in Oshawa and Windsor, with another 1,900 to come. The Pontiac brand will be phased out, meaning 310 dealerships will be closed by the end of next year.

This has left Don Newman of the CBC defending the taxpayer more than the Liberals and Conservatives! On April 27, Newman said, "For each job that was saved, the cost has just gone up for the taxpayer. And is there some point where Canadians, or politicians and Canadians, say, 'Wait a minute--this is getting too expensive'?"

In response, the Conservatives are defending their loan plans and the Liberals are saying it's not enough! Meanwhile, the NDP say the government should bail out even more companies in various other sectors including forestry.

Meanwhile, the United States government will own more than 50% of General Motors if its bailout plan goes forward. This means all these Canadian taxpayer dollars will flow towards a company owned by Uncle Sam.

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