GM declines $3billion Canadian bailout
Just heard this. No explanations. But everyone is surprised.
You have to think the only reason GM would decline the money is because of the strings about keeping jobs in Canada.
In practice, this would have to mean keeping the Oshawa car plant at least close to current levels. And maybe GM just decided it could not guarantee keeping open any plant anywhere. The bailout in the US does not keep GM from closing any particular large assembly plant in the US.
If this is true, it doesn't necessarily meand they are planning on closing or drastically trimming Oshawa car. But it would mean at least they aren't sure they will want it.