I wondered about the 3 million job loss number tossed around by the automakers and the media. A former GM economist explains:
Job losses would not be close to being as large as is claimed by the industry’s hired guns at the Center for Automotive Research (CAR). Among job losers if Detroit actually has to restructure and become profitable and productive, they’re counting the wait staff at the Waffle House in Gainesville, Florida under the assumptions that Americans will stop driving, stop vacationing in Fort Myers, and stop stopping for waffles in Gainesville on the way.
As I suspected. Having said that, some kind of assistance for Ontario automakers is absolutely necessary. Unlike much of the Ontario public, I don’t resent this, not wanting to be in an endless and horrible recession myself. If there’s anything I’m bitter about, it’s the years and years of economic development and trade activity in the province that has been dedicated almost solely to developing this ONE industry, with only sporadic, disorganized efforts made — and a lot of lip service given — to develop anything forward-thinking and sustainable. Let’s all agree — the age of the Detroit 3 is over. So what’s next?