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Kaz Nejatian
In 2009, the government of Canada gave GM $10 billion. The stated reason was that otherwise GM would close its plant in Oshawa. $10 billion bought the government of Canada 10 more years of operation. A billion a year. That's $250K per job, per year.
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Kaz Nejatian 25 Nov 18
Replying to @CanadaKaz
In other words, the Government Canada could have just given each GM employee $2.5 million and we all would have been further ahead.
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Kaz Nejatian 25 Nov 18
Replying to @CanadaKaz
We will never learn. There will always be another GM and another politician ready to get in front of the cameras and give a failing company our money. They do it because they are worried that the evening news will say "x politician cost x # of jobs".
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Kaz Nejatian 25 Nov 18
Replying to @CanadaKaz
The next time some politician says they are investing in XYZ Private Company, remember: the odds are almost 100% that the big company is robbing the taxpayers blind.
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StΞfano ₿ernardi 🌲 25 Nov 18
Replying to @CanadaKaz
Corporations have taken over because governments are dumb.
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Fraser Harris 26 Nov 18
Replying to @CanadaKaz
The Canadian Government took equity, which they later sold. Net loss was reported in 2015 to be $800M. So $20K per year per job
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Zach Aysan 26 Nov 18
Replying to @fjharris @CanadaKaz
It isn’t really clear how the counter factual would have gone. I was against the bailouts at the time, but supply chains are fragile to outlying events and I’ve since come to see the potential downside as being larger. Plus many baby boomers hit retirement in the past decade.
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T.O. Resident 26 Nov 18
Replying to @CanadaKaz
And - thank goodness the previous provincial government opened UOIT university in Oshawa to diversify the local economy... the type of investment Ford just cancelled for multiple Ontario cities.
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Mr. Ó hAnluain 26 Nov 18
There are MANY more than 2500 jobs. Feeder plant employees, service industry jobs, healthcare, entertainment, & food industry jobs. There was a worldwide recession in 2009. You are either taking a shot at or pushing for a bailout.
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Brenda Mason 26 Nov 18
No one is guaranteed a job for life. Sad. Terrible for those affected. But true.
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John Snowflake 26 Nov 18
Replying to @CanadaKaz
Well conservatives always want to kiss ass to the big corps they refer to as "job creators". We keep trying to tell them, large companies and big corps have no real interest in their communities. That's why GM gave Oshawa their dinosaur cars. Oshawa is a conservative stronghold.
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