The big three automakers in Canada are holding their hands out for money from the Canadian Government. In order to “save” 100,000 jobs in Ontario, they want billions in loans. In my opinion, the big three can GFYS!
No WAY should any corporation, large or small, get a bailout with tax money. The automaker’s issues are their own. THEY kept building SUVS when the market didn’t support it. THEY gave credit to people who didn’t earn it. THEY caved into the unions when it came to wages. THEY gave their executives large bonuses while THEIR companies tanked. THEY created THEIR own problems.
THEY should have to fix it.
If I run a business and manage it so poorly that it’s going bankrupt, but I employ two workers, would I get a handout from the government? No. It would be said that I should have run the business better and that I would have to deal with the consequences of my actions. So too should GM, Ford and Chrysler; Really so should they all. The banks that are getting 50 billion in mortgages bought from they by the federal government when they didn’t ask for it. The banks don’t need the buyouts, and they are not passing the savings onto their customers.
All levels of Government, federal and provincial should be looking at ways of getting the private sector to boost job creation, not handing out money to companies that have shown they are irresponsible with money. GM lost 15 Billion in 3 months and they get a handout!
So much for responsibility!