GM offers buyouts to 18,000 salaried workers, says layoffs possible

[313WX]

Source:
Another town puts all it's eggs in one basket, doesn't diversify, then dies, when the shit hits the fan.

While losing GM will hurt, the impact in Oshawa won't be nearly as bad as it was in Flint.

For starters, the town is adjacent to Toronto, a rapidly growing and global Alpha city with an extremely diverse economy. So Oshawa will continue to remain attractive to residents and investors alike as an affordable satellite city. Second, not only is Volkswagen still based there, but it's also home to one of Canada's public research universities and is a hub for Canada's electric grid.

[Honky Tonk]

While losing GM will hurt, the impact in Oshawa won't be nearly as bad as it was in Flint.

For starters, the town is adjacent to Toronto, a rapidly growing and global Alpha city with an extremely diverse economy. So Oshawa will continue to remain attractive to residents and investors alike as an affordable satellite city. Second, not only is Volkswagen still based there, but it's also home to one of Canada's public research universities and is a hub for Canada's electric grid.

But Detroit, on the other hand, will feel it with GM downsizing.

[Canadian Visitor]

I doubt this goes anywhere, but some in the media in Canada are already musing about nationalizing GM Canada.

https://www.thestar.com/business/opi...automaker.html

[313WX]

But Detroit, on the other hand, will feel it with GM downsizing.

Of course.

But don't worry, Gilbert's empire built upon subprime mortgage lending, in an era of rising interest rates and unaffordable housing costs, will save the city.

[Pat001]

Now GM says they're closing plants, dropping car lines and cutting 15 percent of salaried employees. It will include involuntary separations since there weren't enough takers for the "voluntary" package.

Dumping this many people on local job markets means many people will be forced to make painful decisions about changing careers and/or moving out of state.

Ford usually follows GM's lead so look for them to do the same.

https://www.foxbusiness.com/markets/gm-slashing-15-of-n-american-jobs-discontinuing-several-vehicle-models

[Richard]

I doubt this goes anywhere, but some in the media in Canada are already musing about nationalizing GM Canada.

https://www.thestar.com/business/opi...automaker.html

Confronted with the possibility of confiscation of its entire 110-year old investment in Canada, GM would negotiate a fair-price sale of GM Canada.

There would be some who would fret that Canada was becoming “closed to business” by effectively seizing a sizeable foreign asset. To which the response is that there’s no point being open to businesses that act against the Canadian public interest.

You guys would have Hugo Chavez rolling around in his grave in glee with those words.

And have any amercian company doing business in the country heading for the door after experiencing the exact same thing in Venezuela,who is going to take a multi billion dollar risk with talk like that.

[Canadian Visitor]

Confronted with the possibility of confiscation of its entire 110-year old investment in Canada, GM would negotiate a fair-price sale of GM Canada.

There would be some who would fret that Canada was becoming “closed to business” by effectively seizing a sizeable foreign asset. To which the response is that there’s no point being open to businesses that act against the Canadian public interest.

You guys would have Hugo Chavez rolling around in his grave in glee with those words.

And have any amercian company doing business in the country heading for the door after experiencing the exact same thing in Venezuela,who is going to take a multi billion dollar risk with talk like that.

You really need to stop snorting that stuff that gives you the delusions.

No one is 'seizing' anything.

Expropriation here, is Eminent Domain in the US.

GM's majority shareholders right after its bankruptcy were the US government, Canada, and Ontario.

The discussion, which I still think isn't likely to go anywhere, is about purchasing the assets.

If the purchase were hostile, then, GM would still get a fair price for the asset set either by an arbitrator or the courts.

That's how these things are done.

There is nothing to do w/Venezuela here or Socialism.

The author is musing about economic nationalism Something some orange-hued clown you like is rather big on.

[Richard]

^ you can put lipstick on a pig and it is still a pig.

Your link that you posted used the words confiscation and seizing.

Then you are telling me that I am snorting something?

What is even more dangerous then the actual acts is when the public thinks that it is a normal process and tries to justify it.

Please show me where our president has ever mentioned confiscation or seizure of foreign companies that do not comply to demands of the federal government with job creation or elimination.

Keep writing,you are clarifying that it is not just words but a true belief in the process.

Maybe the previous administration should have seized the rail car manufacturing facility that you guys built down south after screwing the city and retirement pension funds,then bailed after hiring the employees then locking the doors so they could not even show up for thier first day of work.

But even then we did not even think of seizing or confiscation.

Maybe after you guys build your little pipeline and bridge we can confiscate those under your definition of economic nationalism.

The only things we have done in the past is to block devious countries from owning things detrimental to national security,never confiscated or seized or appropriated.

We blocked China from buying and having control over all of our ports.

Would Canada be interested in selling her ports to China?