Is there any economy left that doesn't only exist due to government bailouts. Peacenik is all in favour of government intervention in and support of the economy. But Peacenik thinks there is good intervention and bad intervention.
Banks and Wall St. who have committed fraud should have the proceeds of their fraud confiscated. All those big bonuses. Take them back. And the criminals should go to jail. But what about the autoparts industry. What about Linamar. After the cash for clunkers ended, auto sales have crashed to the lowest level since 1981. What autos is Linamar going to be making parts for? Who is supposed to buy those autos?
Linamar got $44.5 million in 2006. And yesterday Linamar got $54.8 million as part of Harper's re-election strategy. Maybe it is time to start planning a new economy. A no-growth economy. Maybe it is time to invest in the future, not in the modern equivalent of buggy whips. Peacenik sees this all ending badly. Very badly. When Linamar inevitably downsizes to match the size of the real auto industry, or what is left of it, what is going to happen to all the mortgages that former Linamar employees will no longer be able to afford. Peacenik can hear the air leaking out of Guelph's real estate bubble as Peacenik types.
glayson@guelphmercury.com
GUELPH — Prime Minister Stephen Harper brought along quite the house warming gift Monday when he attended the grand opening of the Frank Hasenfratz Centre of Excellence in Manufacturing at Linamar Corporation.
Harper announced Linamar would receive from the government a $54.8 million repayable interest-free contribution to fund the development of the company’s green and fuel efficient powertrain projects.
The funding was made possible through the Automotive Initiative Fund, which will provide $250 million over five years to auto-related companies in support of strategic, large-scale research and development projects.
Read on...
Banks and Wall St. who have committed fraud should have the proceeds of their fraud confiscated. All those big bonuses. Take them back. And the criminals should go to jail. But what about the autoparts industry. What about Linamar. After the cash for clunkers ended, auto sales have crashed to the lowest level since 1981. What autos is Linamar going to be making parts for? Who is supposed to buy those autos?
Linamar got $44.5 million in 2006. And yesterday Linamar got $54.8 million as part of Harper's re-election strategy. Maybe it is time to start planning a new economy. A no-growth economy. Maybe it is time to invest in the future, not in the modern equivalent of buggy whips. Peacenik sees this all ending badly. Very badly. When Linamar inevitably downsizes to match the size of the real auto industry, or what is left of it, what is going to happen to all the mortgages that former Linamar employees will no longer be able to afford. Peacenik can hear the air leaking out of Guelph's real estate bubble as Peacenik types.
glayson@guelphmercury.com
GUELPH — Prime Minister Stephen Harper brought along quite the house warming gift Monday when he attended the grand opening of the Frank Hasenfratz Centre of Excellence in Manufacturing at Linamar Corporation.
Harper announced Linamar would receive from the government a $54.8 million repayable interest-free contribution to fund the development of the company’s green and fuel efficient powertrain projects.
The funding was made possible through the Automotive Initiative Fund, which will provide $250 million over five years to auto-related companies in support of strategic, large-scale research and development projects.
Read on...
