Word: canadas
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Dates: during 2000-2009
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Ontario, the industrial heartland of Canada and the home of Detroit North [its Detroit-allied auto industry], used to be considered the nation's growth engine. Now, it's become a have-not province eligible for federal transfer payments - money in part underwritten by oil-rich Newfoundland. It's an irony not lost on most Canadians, since Newfoundland has carried the mantle of neediness since joining confederation 59 years...
...much of the year, the Canadian dollar, known as the Loonie after the lake-bird pictured on the one-dollar coins, was trading at par with the U.S. dollar. That squeezes manufacturers and grounds exports, since a strong Loonie deprives Canada of a cost advantage it has enjoyed for years. The Canadian dollar has weakened recently, but now the financial problems threatening to push Detroit's auto industry over the brink have also gripped the Canadian subsidiaries of GM, Ford and Chrysler. See the 50 Worst Cars of All Time
...this year Canada has lost 5,000 vehicle-assembly jobs and 10,000 parts-supply jobs, almost all of them in the belt of southern Ontario that runs from New York to Michigan. GM Canada has been hardest hit, but it has yet to reap the worst of this whirlwind. The Oshawa, Ont.-based car company, which takes its marching orders from Detroit, expects to shed another 4,000 jobs with planned closures of a truck and transmission plant. This downsizing is needed to cope with overcapacity, but it's fostering bad blood between the car maker and its union...
Just as the Detroit Three are asking Washington for a financial lifeline, so too their Canadian counterparts want Ottawa to staunch hemorrhaging balance sheets. The difference is that in Canada the heads of the Detroit Three have left it to the CAW and the Auto Parts Manufacturers' Association to take the lead on a government bailout. "Obama is going to protect U.S. jobs," says CAW president Ken Lewenza, referring to President-elect Barack Obama. "The Canadian government has to play an active role or it could be left out in the cold manufacturing nothing...
Ride the Rails. VIA Rail Canada is determined to tempt you aboard its long-haul train with 50% rebates if you book your tickets online before Dec. 11. If you have the free time, the "Canadian" route, for instance, departs Toronto, passes through the prairies and the Rockies and ends at Canada's Pacific coast five days later. VIA Rail promises down duvets in your sleeper, local wines to sip in the observation car, regional menus in the dining car and attentive staff...