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Should governments bail out US automakers?

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  • ^They will need to find an automaker whose vehciles they can "rebadge". Maybe Opel - that is the division of GM they used to base their vehciles on - now owned by Magna.
    Last edited by moahunter; 05-06-2009, 04:29 PM.

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    • I see that GM is going to continue to manufacture Hummers for the new owner of the brand until they get their own thing happening.

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      • Same with Saturn... GM agreed to continue manufacturing the cars for at least 2 more years.

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        • 'Cash for clunkers' sells out in 1 week

          'Cash for clunkers' sells out in 1 week
          Last Updated: Friday, July 31, 2009 | 1:52 PM ET
          The Associated Press

          U.S. President Barack Obama praised members of Congress from both parties for rushing to pump new money into a popular cash-purchase program that is running out of money.

          Obama spoke Friday as the House passed the measure 316 to 109. It would pour $2 billion US from the economic stimulus program into the "cash-for-clunkers" initiative to give consumers more time to take advantage of trade-in rebates for older cars.

          The president said initially there had been skeptics about the car-purchase program, but that now "we're already seeing a dramatic increase in showroom traffic" across the country. He said the program "gives consumers a break" and helps to reduce pollution.

          A Senate debate and vote on the issue is expected next week.

          The White House said Thursday it was reviewing what has turned out to be a wildly popular cash-for-clunkers program amid concerns the $1 billion budget for rebates for new auto purchases may have been exhausted in only a week.

          Full Story: http://www.cbc.ca/world/story/2009/0...veprogram.html


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          Looks like the program has been tremendously successful since it began only one week ago. I know Canada doesn't have the same number of consumers as the USA, but I would love to see a similar program here in Canada, even if it only lasted a month or so. Get some old beasts that pollute more than they need to off the road, and give a bit of a boost to the dealerships that are going through tough times.

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          • So at significant short term economic costs Canada is pushing forward with anti-global warming efforts and the US is abandoning them, but GM shuts down Oshawa as it focuses on electric vehicles.

            General Motors to shut down Oshawa plant in global restructuring - The Globe and Mail

            https://www.theglobeandmail.com/busi...t-sources-say/




            Hopefully the pipeline bailout performs better

            Canadian taxpayers lose $3.5-billion on 2009 bailout of auto firms - The Globe and Mail

            The Harper government says it has unloaded its remaining multibillion-dollar stake in General Motors. The federal Finance Department says the government sold nearly 73.4 million shares Monday in an unregistered block trade to Goldman, Sachs & Co. A sign stands outside Oshawa's General Motors car assembly plant in Oshawa, Canada.
            MICHELLE SIU/THE CANADIAN PRESS
            GREG KEENANAUTO, STEEL AND AIRLINE INDUSTRIES
            PUBLISHED APRIL 7, 2015
            UPDATED 6 MONTHS AGO


            “The share sale by Ottawa will help federal Finance Minister Joe Oliver balance the federal budget.”

            “"It is remarkably short-sighted of the federal government to sell off its shares in GM at a time when there has been widespread agreement that securing GM's future in Canada is critical," Mr. Dias said in a statement.”

            “Unifor issued an economic impact study on the Oshawa plants last week that showed the two governments stand to lose $1-billion in tax revenue if they are permanently closed.”


            https://www.theglobeandmail.com/repo...ticle23828543/


            Last edited by KC; 26-11-2018, 06:58 AM.

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            • in addition to the oshawa plant where we are pushing forward with anti-global warming efforts, gm is also shutting down four plants in the us where the they are abandoning those efforts (at least federally, not at the state level where they will arguably increase and not be abandoned).

              the oshawa facility employs 2,200 (and has gone through this before, notably before they secured production of the impala which is one of the vehicles being dropped from the lineup). the four american plants employ 3,800 with detroit-hamtramck being gm's last in the city and the lordstown plant in ohio one of gm's biggest while the other two manufacture engines and transmissions.

              previous cutbacks and closures might even indicate oshawa's plant is more likely to be repurposed by gm at some point than the other two - possibly even before an actual closure - but it would be politically difficult to close just american plants in the current climate (no pun intended).
              "If you did not want much, there was plenty." Harper Lee

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