General Motors of Canada Ltd. will use billions of dollars in government loans to reduce its yawning pension deficit under a cost-cutting labour agreement that removes a major obstacle to the troubled auto maker obtaining $6-billion in federal and provincial aid.

The tentative agreement with the Canadian Auto Workers union paves the way for Ottawa and Ontario to join Washington in massive bailout of the staggering auto giant, which is expected to submit a new restructuring plan to U.S. President Barack Obama within days.

But the deal represents an apparent about-face for the Harper government, which has long insisted federal taxpayers would not subsidize GM pensioners. Ottawa is expected to argue that only the provincial portion of the bailout can be used for the pension plan, but critics are already saying that distinction is meaningless.

http://www.theglobeandmail.com/globe...rticle1148545/

 

I thought it was bad enough that the US taxpayer had to finance the inevitable failure of GM. Now it seems the cancer has spread to Canada. What will make this real interesting is the near future GM bankruptcy. It will probably be filed in the next week or so. My money says that all of the Taxpayers dollars are going to go down the drain. I have family that works at GM so I can speak first hand. All of these lazy bostards need to get a real job and they also need to get off of welfare. That's what it's called when you accept money from the Gov't.

 

I've worked my butt off all my life. The government fixed things to the point putting money in a savings account was useless.
They made the 401's attractive, then they pulled the rug from underneath.
Anyone in the market lost money. My only saving grace is my wife and I were heavy on WalMart. The store I refuse to shop at, unless I have to, is the saving grace at my piddly retirement.
So now the guberment is going to take what money I have and pay retirement to people that never had to plan retirement for themselves.
I be a happy dumb a$$.

 

Well hope this brings a smile somewhere.
The most powerful black man in the world, still lives in Government funded Housing.