Word: ontario
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This latest announcement by Prime Minister Stephen Harper brings the total cost for Canada of restructuring GM to $9.5 billion, including $450 million in emergency funding already used by the car company, compared to $49.8 billion promised by the Obama Administration. In exchange Ottawa and the province of Ontario, where GM Canada has all its operations, receive a 12% stake in Detroit-based GM, representation on the new board and the promise to keep 16% of the struggling automaker's production in Canada as it restructures in coming months...
...Canada has 12,000 hourly and salaried employees, but that number is expected to shrink to about 5,500 over the next couple of years. About 1,100 of the new total is expected to be salaried jobs, which are unrelated to assembly operations. That means Ottawa and the Ontario government are together spending an unprecedented $2.1 million for each assembly job at GM Canada they hope to save...
Despite the hefty price tag, both Ottawa and Ontario felt their hands were tied, and there was little haggling. "We had to save it all or have zero forever," PM Harper said at a joint news conference in Toronto, referring to the rescue of GM Canada...
...against Cornell during the season, that was very disappointing to lose to those guys,” Cohen said. “They had never beaten us before.” Despite the letdown, Harvard bounced back with a 7-2 win that same day against No. 8 Western Ontario and followed it up with another close 5-4 win against a No. 5-ranked Rochester team a week later. “In the Rochester match, Colin [West] sort of expected a win, [senior Niko Hrdy] played a higher ranking, and [senior Verdi DiSesa] just had the match...
...American autoworkers in Kentucky and Alabama who build cars that succeed in the marketplace made the largest concessions. They will endure a larger national debt so that billions of federal dollars can be used to prop up the UAW jobs of far less successful autoworkers in Michigan, Ohio and Ontario...