Two of the greatest corporations of all times face ultimate humiliation - dropped from the DJIA -
http://www.680news.com/news/business/more.jsp?content=b012469921
Only GE has been longer on the index than GM, and who knows how long they can hold on.
Buffet's bet on GE might keep them afloat, otherwise, they are as bankrupt as as church mouse.
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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
Location: Somewhere in dreamland
Posted on: 02-06-09 05:26:07
And Harper is giving 10 billion of tax payers money (almost $330 per every person in Canada) to GM just to support all those lazy overpaid union workers.
Quote:Yeah, ironic, innit?
Originally posted by brown_bear
And Harper is giving 10 billion of tax payers money (almost $330 per every person in Canada) to GM just to support all those lazy overpaid union workers.
And Harper says the taxpayer's money is "sunk" -
http://www.680news.com/news/headlines/more.jsp?content=20090601_192213_7780
Quote from the above -
The Ontario government said it was worried the province would lose 85,000 jobs if GM was allowed to fail. Ontario has already lost 171,000 jobs since last October.
So in about 6 months, we have already lost more than double of what they are trying to "save".
And what's the guarantee that the 85,000 will indeed be saved?
Even if so, can't most of those 85,000 people not be re-trained, re-settled using the same $10B instead of pouring good money after bad?
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"Mah deah, there is much more money to be made in the destruction of civilization than in building it up."
-- Rhett Butler in "Gone with the Wind"
Chinese take over Hummer !.
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Sunny Leone a true Canadian DESI now back in India !.
Location: Somewhere in dreamland
Posted on: 02-06-09 22:13:54
Quote:
Originally posted by pratickm
Quote:Yeah, ironic, innit?
Originally posted by brown_bear
And Harper is giving 10 billion of tax payers money (almost $330 per every person in Canada) to GM just to support all those lazy overpaid union workers.
And Harper says the taxpayer's money is "sunk" -
http://www.680news.com/news/headlines/more.jsp?content=20090601_192213_7780
Quote from the above -
The Ontario government said it was worried the province would lose 85,000 jobs if GM was allowed to fail. Ontario has already lost 171,000 jobs since last October.
So in about 6 months, we have already lost more than double of what they are trying to "save".
And what's the guarantee that the 85,000 will indeed be saved?
Even if so, can't most of those 85,000 people not be re-trained, re-settled using the same $10B instead of pouring good money after bad?
10 Billion / 85,000 jobs = $ 1,17,647 per job !!
They could have used that money to retrain these 85000 people
Location: God's own country
Posted on: 03-06-09 07:52:54
Quote:
10 Billion / 85,000 jobs = $ 1,17,647 per job !!
They could have used that money to retrain these 85000 people
Guys,
you are missing the bigger picture.
If you lay all these people off and retrain them, then you are losing 85K jobs + losing cpp, ei and a large chunk of tax.
however, if you retain them in the job, you do get 85K jobs + a huge amount of tax, EI, CPP for those 85K people and then you make and sell cars which get the govt 5% or 13% tax (GSt/pst) when it is sold to a customer.
These 85K jobs can then be used to fool immigrants to immigrate by saying that Canada created/retained 85K jobs and that since most of them will be retiring soon that 50K immigrants are needed in just the GM workforce. This in turn gives the govt. $500 per person for immigration fee and then $500 for the right of landing. Each immigrant family is expected to bring atleast 10K while immigrating.
so life goes on....
peace by TK
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I am a Gents and not a Ladies.
