BlackBerrys aren’t cars: Jim Flaherty rules out RIM aid
Ottawa won't help RIM
The Canadian government rushed to the aid of the auto industry at the height of the crisis, but it's ruling out helping Research In Motion Ltd. (RIM-T10.68-0.02-0.19%)
That's not to suggest that RIM is going to need Ottawa's help amid its mounting troubles - and it doesn't appear to have asked for any - only that Finance Minister Jim Flaherty is already saying no, when asked.
"It has been a leading company for Canada in terms of research development and innovation, but it does need to reorganize itself, and that’s something that we expect the leaders in the company to do on their own," Mr. Flaherty told reporters today, according to Bloomberg News.
Mr. Flaherty's comments come as RIM's fortunes decline. Earlier this week, the BlackBerry maker warned it expects to post an operating loss in its first quarter, and that there will be troubles for several more quarters after that. Big layoffs are also expected.
http://www.theglobeandmail.com/report-on-business/top-business-stories/blackberrys-arent-cars-jim-flaherty-rules-out-rim-aid/article2448389/
2,000 jobs cut as GM to close Oshawa plant
The Canadian Auto Workers union says General Motors is going ahead with plans to close its consolidated plant in Oshawa, Ont.
The union says it's been told the facility — the older part of the Oshawa car plant — will close by June 2013 and says that could mean 2,000 layoffs.
President of CAW Local 222 president Chris Buckley says GM gave the union notice today.
The plant produces the Chevrolet Impala and the Equinox. It was originally slated to be closed in 2008 before a series of extensions due to the popularity of those vehicles squeezed more years of life out of it.
http://www.cbc.ca/news/business/story/2012/06/01/gm-oshawa-plant.html
