The Lions have the right idea playing at home on a Thursday afternoon. But they should do it on a day when people have to work and may not notice that the Ford family -- as hard as this may be to believe -- is running an enterprise that is less successful than its car company. If they're smart -- and we have no evidence to suggest that they are -- they'll try to get a couple offensive linemen and a quarterback thrown in with the multi-billion dollar bailout they're looking for. The Jets outrushed Tennessee 192-45 and held the ball for more than 40 minutes. New York simply manhandled the Titans. The Jets led 10-0 at halftime, but broke the Titans' will in the third quarter. The second half began with a seven-minute Jets drive for a field goal. On the Titans' first play of the half, Chris...
The mortgage lenders who gave away too much, the banks that disregarded prudent lending practices, the Wall Street bankers who split up the mortgages and sold them - the list goes on. [...] the bailout will include provisions for a Resolution Trust-type entity to buy distressed mortgage-backed securities at bargain prices, plus pick up equity stakes in exchange for debt financing, change rules on short-selling, and more.
In the economic world created by both Democrats in D.C., and by Conservative MPs from southern Ontario who plumped for "aid" to the auto industry, a federal deficit estimated at "only" $35 billion in late January will now end up closer to $50 billion. Now suppose that instead of billing the public treasuries of Ottawa and Ontario $13 billion for a GM-Chrysler bailout, every consumer who purchases a new automobile in 2009 was billed directly for their "share" of the bailout. In other words, suppose governments, in a rare moment of taxation honesty, added a "GM-Chrysler bailout tax" to every automobile customer's invoice. This year, a $13-billion bailout billed to non-Chrysler-GM purchases -- that is to just over 884,000 new auto-mobiles -- means each buyer would face an additional auto t...
In Jerry McGuire, Tom Cruise gets into rap-like exchanges with one of his sports clients, screaming the line "Show me the money." It worked as fiction, but it's not what we need from politicians who are, in the real world, about to nationalize the U.S. auto industry, pretending to be bankers buying into the economy, and pressing for green agendas out of another disaster film, An Inconvenient Truth. Green policies and mandates are the greatest threat to the U.S. auto companies, and to the U.S. economy. Fuel-efficiency standards are already responsible for draining billions of cash and chunks of market share away from Detroit. Now Detroit is being forced into putting all its research eggs into one product category. GM has halted research and capital spending, except for its multibillion-d...
Equalization payments are projected to decline because payments are based on a complicated formula driven in part by the provincial government revenues of strong provincial economies. So, when the economies of former powerhouses like Alberta and Ontario falter, so, too, do equalization payments. Equalization isn't like most other program. Its costs, payments, are designed to fluctuate based on relative performance of the provinces. When large strong provinces do well economically, payments rise. And rise they have. Payments have grown from a total of $8.6 billion in 2003-04 to today's high of $14.8 billion -- a 72 per cent increase in six years. Equally, when large, strong provinces don't do well economically, payments should decline. British Columbia, Alberta and Saskatchewan don't rec...
The company imploded late last year and sold all its North American wind projects to San Francisco-based Pattern Energy. Since then, the project has been stalled and Manitoba Hydro revealed during Tuesday night's hearing it's been downsized to just 138 megawatts. The power deals are secret, so no one knows what Manitoba Hydro pays for wind. But Hydro president and CEO Bob Brennan told MLAs six to seven cents a kilowatt hour is "in the ballpark." Compare that to Ontario, which has said it will buy wind power for 13.5 cents per kilowatt hour from pretty much anyone who is selling. That's widely seen as a pretty high price, but there's less wind in Ontario than there is in Manitoba. HYDRO LATER -- In the next decade or so, Hydro is spending billions on three new northern dams and a transmi...
[...] one aspect of the bailout that does really stick the craw of a lot of average folks is that some of the cash will make its way into shoring up the lucrative pension and health plans earned over decades of tough union bargaining.
Thus, we got opposition demands for "shovel-ready" projects. Liberal Leader Michael Ignatieff made the strident demand that Ottawa should get stimulus funds "flowing out the door." The government said in its January budget it would get money moving in three months. But government spending doesn't work that way (please see opening paragraphs). Despite the fact little stimulus money has been spent, the Bank of Canada and the Bank of Nova Scotia said this month Canada's economy is poised for a turnaround that could come sooner and be stronger than many had thought possible. "The global economy is transitioning from recession to recovery," says the Scotiabank report. Robert Zoellick, head of the World Bank, says governments in Canada and the United States should now focus on how to control ...
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