GM and Crysler ask for more!

[Canadian]

I wouldn't say that there is a gold bubble, at least not yet, but with all the bailouts and irresponsible money printing we might have one pretty soon.

GM Canada and Chrysler Canada are asking for C$10 billion in aid from the Canadian and Ontario governments. First they said they need about $4 billion, now suddenly is more than twice that, next time they’ll ask even more!

I don't know about you, but I’m tired of paying for overpaid autoworkers working for lousy businesses without future. These companies will go bankrupt anyways, but they will suck huge amount of taxpayers’ money in the process.

[trent]

Originally Posted by Canadian

I wouldn't say that there is a gold bubble, at least not yet, but with all the bailouts and irresponsible money printing we might have one pretty soon.

GM Canada and Chrysler Canada are asking for C$10 billion in aid from the Canadian and Ontario governments. First they said they need about $4 billion, now suddenly is more than twice that, next time they’ll ask even more!

I don't know about you, but I’m tired of paying for overpaid autoworkers working for lousy businesses without future. These companies will go bankrupt anyways, but they will suck huge amount of taxpayers’ money in the process.

I couldn't agree more. The unionized Canadian auto workers killed these 2 companies long time ago, and now they try to live off us taxpayers. This madness must end!

[Canadian]

Unfortunately this madness won't end until billions of taxpayers' money are lost. The jobs in the auto industry have very high media profile for some reason, and news of 1,000 layoffs at GM Canada for example, might easily overshadow hundreds of thousands of job losses in virtually all industries across Canada.

[heyjude]

Originally Posted by Canadian

Unfortunately this madness won't end until billions of taxpayers' money are lost. The jobs in the auto industry have very high media profile for some reason, and news of 1,000 layoffs at GM Canada for example, might easily overshadow hundreds of thousands of job losses in virtually all industries across Canada.

It's true that for some reason the media thinks it is very important to inform us about the layoffs in the auto industry. It's true that it is a big industry and I don't know when this fiasco will come to an end. I don't think the Canadian government should give money to GM, Chrysler or anyone for that matter. Who will bail me out if I go bankrupt? The answer is NOBODY.

[trent]

There were talks yesterday that GM might go in bankruptcy protection, and I think this is for the best. If they do that, they might be able to turn around and survive, although I doubt it.

[bullish]

Originally Posted by trent

There were talks yesterday that GM might go in bankruptcy protection, and I think this is for the best. If they do that, they might be able to turn around and survive, although I doubt it.

So you think losing 1000's of jobs is "for the best"? What kind of person are you?

[Canadian]

Originally Posted by bullish

So you think losing 1000's of jobs is "for the best"? What kind of person are you?

Do you think that keeping 1000's of jobs that produce something nobody wants/needs is good? Or maybe you think that it's OK to use taxpayers’ money to keep these jobs?