[Newsbot]

Title: Canadian share of Chrysler, GM demands nears $10-billion
Category: Business
Posted By: mtbr
Date: 2009-02-20 19:49:40
Canadian

[bootlegga]

THen let them sink. And if they decide to build cars somewhere outside NA, then quota them to death like we did to Japanese carmakers in the 80s.

[Richard]

Spend some of that buying out the overpayed workers and say Adios.

[poquas]

More good money after bad.

What is the goal that this money is supposed allow them to achieve... other than postponing bankruptcy

[hurley_108]

GM wants $7B, and they want to lay off 7000. Why not just give those 7000 $1M each? That's what it works out to.

Canada has bought out $75B in mortgages, is projecting $80B in deficits over the next two years, and now these schmucks come, hat in hand, for another $10B. Jesus. Why not just give every man, woman, and child in this country $5500? That's what it fucking works out to.

[ShepherdsDog]

Thing is, if you give everyone that money, they'll hold onto it. Unless you're sure you're going to have a job next month people won't spend it, they'll squirrel it away.

[RUEZ]

hurley_108 hurley_108:

GM wants $7B, and they want to lay off 7000. Why not just give those 7000 $1M each? That's what it works out to.

Canada has bought out $75B in mortgages, is projecting $80B in deficits over the next two years, and now these schmucks come, hat in hand, for another $10B. Jesus. Why not just give every man, woman, and child in this country $5500? That's what it fucking works out to.

These are loans that must be repaid. It's not free money.

[ShepherdsDog]

The deferred taxes, these and other corporate parasites got(back in the 70s, 80s and early90s) were supposed to be paid back too, but that didn't happen. They laid off workers and still got the status. All of that money could have gone a long way to dealing with deficits.

[martin14]

sorry, I have to agree here; a pledge to not close this and that just isnt good enough anymore.

Chrysler still hasnt even submitted their own plan, lazy bastards,
and they still need to pony up 500 million in taxes; that should be paid first.

[Ripcat]

Damn, 10 billion dollars would just about buy their Canadian manufacturing operations....

[Ripcat]

hurley_108 hurley_108:

GM wants $7B, and they want to lay off 7000. Why not just give those 7000 $1M each? That's what it works out to.

Canada has bought out $75B in mortgages, is projecting $80B in deficits over the next two years, and now these schmucks come, hat in hand, for another $10B. Jesus. Why not just give every man, woman, and child in this country $5500? That's what it fucking works out to.

This does not generate long term revenue for any level of government.

You are all still too focused on GM and Chrysler. You all need to look at the bigger picture.

Working people pay taxes!!!!

[martin14]

Ripcat Ripcat:

hurley_108 hurley_108:

GM wants $7B, and they want to lay off 7000. Why not just give those 7000 $1M each? That's what it works out to.

Canada has bought out $75B in mortgages, is projecting $80B in deficits over the next two years, and now these schmucks come, hat in hand, for another $10B. Jesus. Why not just give every man, woman, and child in this country $5500? That's what it fucking works out to.

This does not generate long term revenue for any level of government.

You are all still too focused on GM and Chrysler. You all need to look at the bigger picture.

Working people pay taxes!!!!

10B worth ?

A you said, 10B could almost buy the Canadian shops.. maybe its time
to clean out the dead wood, see if someone else can do a better job;
certainly couldnt do much worse.

[Ripcat]

martin14 martin14:

Ripcat Ripcat:

hurley_108 hurley_108:

GM wants $7B, and they want to lay off 7000. Why not just give those 7000 $1M each? That's what it works out to.

Canada has bought out $75B in mortgages, is projecting $80B in deficits over the next two years, and now these schmucks come, hat in hand, for another $10B. Jesus. Why not just give every man, woman, and child in this country $5500? That's what it fucking works out to.

This does not generate long term revenue for any level of government.

You are all still too focused on GM and Chrysler. You all need to look at the bigger picture.

Working people pay taxes!!!!

10B worth ?

A you said, 10B could almost buy the Canadian shops.. maybe its time
to clean out the dead wood, see if someone else can do a better job;
certainly couldnt do much worse.

Yes, much more than 10B worth.

You need to look at the bigger picture. I'm not happy about having to repeat myself in every thread. The money isn't just about GM or Chrysler.

If there are 400,000 people in Canada directly employed in all the facets of building a car and they each pay $2000 property tax, $10,000 in personal income tax, all the tax revenue created by the purchase of fuel to get to work, all the GST/PST on purchases they make, all the taxes paid by all the business/industry involved, all the taxes paid by the businesses that service these business/industries, all the taxes paid by the people that work in these service industries....multiply all that by 10 years....

TRICKLE DOWN!

[CanadianJeff]

you know for 10 billion Canada could easily start it's own auto business in Ontario to hire all those workers. Can anyone say cars made for winter?

Franky I'd love to see some cars made that are more tailored to working in -40c or -50c

[hurley_108]

ShepherdsDog ShepherdsDog:

Thing is, if you give everyone that money, they'll hold onto it. Unless you're sure you're going to have a job next month people won't spend it, they'll squirrel it away.

As long as they don't go out, cash the cheque, and hide the cash literally in their mattress or something, even saving it would be a boost to the economy, because the bank will then get that much more liquidity.