GM is about to announce bankruptcy 
GM will announce Chapter 11 bankruptcy and the closure of 14 plants stateside with a loss of 20,000 jobs.
GM will be divide up as follows:
62.5% owned by the US gov
12.5% owned by the Canadian gov
13 % owned by the UAW pension fund
12 % owned by bond holders
Figures are approximate and from memory, ...but it looks like that'll be the breakdown.
in return, they are going to get over $40 Billion in US federal gov loans. This is rumoured to not affect Cdn plants.
Magna's Frank Stronach closed his deal to help out Oppel, ...and it looks like in time, he's going to move some of Oppel's parts manufacturing right here to Ontario. This is pissing me off because it's driving the Cdn dollar up against he US
I had a nice big cheque on Friday... do you know what a difference 1.25% is from 1.06%? Well it's a heckuva lot!!! {spit} Experts are predicting it might soon go back to par. They also say the price of oil is going to reach $100 barrel within the year, ...and stay there. This too is inline with what the Kuwaiti investment bank Marcaz was predicting late last year.
