A2: Auto Industry

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The Toronto Globe & Mail reports on the impact of U.S. union concessions and auto industry restructuring on the Canadian Auto Workers union, and quotes Sean McAlinden, chief economist for the Ann Arbor-based Center for Automotive Research: “The bondholders are going to say: ‘Why should we swap debt for equity, unless we see a really rich, big union concession in Canada and the United States?’” [Source]