A new Ontario report indicates more than 517,000 jobs could be lost within 5 years if the Detroit 3 collapse. The report says 157,000 jobs would be lost immediately if the Detroit 3 fail, and 147,000 of those would be in Ontario alone. Obviously, these numbers would lead to economic disclocation for Ontario and some form of a bailout and reform is required to ensure existing problems are addressed. Ontario`s Economic Development Minister Michael Bryant also agrees a rescue package is needed to avoid economic dislocation.

In other news, Quebec based Sun Media has announced it will cut 600 jobs because of the slow down in the print media industry.