Corporate Extortion

March 12, 2009

Well, they aren’t even trying to hide it any more.

Up here in Canada, Chrysler LLC sat in a parliamentary committee hearing and threatened to pull out of Canada completely unless it got “$2.3-billion (U.S.) in loans [from the government] and its Canadian union agrees to slash labour costs by 25 per cent.”

Luckily, most of the 799 (at the time of writing) comments at the Report On Business have the absolute correct response – go ahead, leave.  We don’t like your shitty cars anyway.

It seems our “conservative” government is only too willing to give them money though – our Finance Minister is from Oshawa Ontario, where a huge GM plant provides most of the jobs.

Enough of this blatant corporate extortion and vote-byuying corporate welfare. Let Chrysler go out of business. Let GM and Ford follow them. Let Schumpeter’s “creative destruction”  do its good work, so something better can come along and replace these behemoths.

I don’t know how many people will be buying Chrysler after this stunt anyway.

A word to my American friends – we are the canary in the coal mine. Expect similar threats and dire posturing in Michigan, Indiana and Ohio.

Of course, maybe this is what they mean by “Going Galt”…

One Response to “Corporate Extortion”


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Follow

Get every new post delivered to your Inbox.

%d bloggers like this: