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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?


To: Maurice Winn who wrote (68917)4/29/2008 3:07:04 PM
From: Cogito Ergo Sum  Read Replies (1) | Respond to of 74559
 
680news.com

That is the most efficient car plant in North America apparently and it's being cut.

Federal government should help Oshawa's GM workers, local CAW says

Tuesday, April 29, 2008 - 02:51 PM
By: Charlene Close

CAW local 222 president, Chris Buckley, and union truck plant chairman, Greg Moffat, speak to reporters at the Union Hall, Tuesday, to demand federal government help save the struggling manufacturing sector (Photo by: Charlene Close/680News)



Oshawa, Ont. - The latest round of job cuts at General Motors in Oshawa would have a devastating impact on the city and the province, and that had the local union leadership demanding the federal government take action to help.

These layoffs are set to happen in September, and they're on top of the 1,000 jobs that were cut in January.

Canadian Auto Workers' local 222 president, Chris Buckley, said the news was devastating. "Our members take their paychecks and spend them in their community and buy houses; people might have to walk away from their houses," Buckley said.

Buckley said the federal government has the tools to help those who will lose their jobs, but still refuses.

"I challenge our federal government to come to Oshawa and tell my members who are losing their jobs, that they actually care about working men and women in this country, because I know they don't," he said.

It's more than just the GM plant that is in trouble. Oshawa has dozens of auto parts plants facing layoffs and that will have a huge impact on Oshawa's economy, since autoworkers spent more than $700-million in the city last year alone.
The Black Swan



To: Maurice Winn who wrote (68917)4/29/2008 3:11:01 PM
From: Elroy Jetson  Respond to of 74559
 
Incomes will undoubtedly decline somewhat, but the decline in real estate prices will be only slightly amplified by this.

The major decline will be real estate price relative to incomes.
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