by Lucas Elke
In 2008, when the Canadian and United States governments announced a $17.4 billion USD bailout plan for their respective auto sectors, many people were furious. Why would the government provide handouts to help save companies who simply produce cars? Then, when the governments responded to the criticism their answer was annoyingly simple: “These companies are too big and too important to lose”. Well, that simple response got me thinking (albeit three years late) – “Just how big and important are these auto manufacturers?” After a bit of research, I found out.
The answer: Absolutely huge! Continue reading