SIMON GRANAT
BUSINESS EDITOR
The collapse of the auto industry in 2008 still haunts North American markets. Maclean’s called it, “the long, sorry decline and ultimate crash of the mighty auto industry”. In quick succession, General Motors, and Chrysler accepted Canadian and American government bailouts.
Of the two, GM would eventually face a bankruptcy tribunal. Once, the second largest company in America, GM’s bankruptcy left countless businesses as well as the cities of Windsor and Detroit in ruin. In June 2010, Windsor’s unemployment rate was 21.4 per cent, according to Statistics Canada. While Wall Street hurt bankers uptown, the collapse of the auto industry hurt workers down on the shop floor.
RIM Keeps in Touch
Research in Motion unveiled their new Blackberry Torch on Tuesday Aug. 4. The phone is aimed to compete with Apple’s iPhone 4 and the HTC Legend. While analysts admit the phone has potential, shareholders disagree. When the Torch was unveiled in New York, RIM’s shares fell as low as five per cent from the intraday high.
KEVIN SIMMS
THE SILHOUETTE
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