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...workers at GM plants across Europe are in the dark over what the plans mean for them in the future. Opel employs around 26,000 workers in Germany, almost half of GM Europe's total workforce of 55,000. With Germany in the driving seat during the negotiations, politicians and trade unions in other European countries are concerned the new investor Magna, along with its Russian partners, will protect German jobs at the expense of other jobs. "There are going to be more tough negotiations with GM Europe and Magna," says Klaus Franz, the head of Opel's works council...
This latest announcement by Prime Minister Stephen Harper brings the total cost for Canada of restructuring GM to $9.5 billion, including $450 million in emergency funding already used by the car company, compared to $49.8 billion promised by the Obama Administration. In exchange Ottawa and the province of Ontario, where GM Canada has all its operations, receive a 12% stake in Detroit-based GM, representation on the new board and the promise to keep 16% of the struggling automaker's production in Canada as it restructures in coming months...
...present GM Canada has 12,000 hourly and salaried employees, but that number is expected to shrink to about 5,500 over the next couple of years. About 1,100 of the new total is expected to be salaried jobs, which are unrelated to assembly operations. That means Ottawa and the Ontario government are together spending an unprecedented $2.1 million for each assembly job at GM Canada they hope to save...
What did running those 50 miles feel like? Most of the miles were a total blast. You start before dawn, so it's dark outside, and you're all huddled for warmth at the start. As you're running, the sun comes up. It's just brilliant. Every moment, every mile brought a vivid sensation. When you allow yourself to ease into the run, as if you're easing into a hot bath, the sensations come to you gradually. You feel your body warming up. You feel yourself hitting a stride. Nothing ever feels forced. It feels soothing...
...economy like China's, which is the world's third largest but is still just a third the size of the U.S.'s, the scale of the package is staggering. Total new spending is pegged at $586 billion, about 16% of GDP. In contrast, the $787 billion stimulus package approved by the U.S. Congress in February is just 6% of GDP. While upwards of 75% of Chinese spending will go toward infrastructure, just 10% of U.S. spending will. The difference to an extent reflects the fact that the nations are at different stages of economic development: America's railroad networks...