Wednesday, June 17, 2009

TheStar.com | Business | Hard-hit Magna axes charity hoedown

TheStar.com | Business | Hard-hit Magna axes charity hoedown: "here will be no do-si-do-ing at Magna International Inc. this fall after the ailing auto-parts giant holstered its annual $750,000 Wild Wild West Hoedown charity fundraiser, yet another casualty of the economic meltdown.

``Due to the economic downturn, we have decided to postpone this year's hoedown and hope to be back next year,'' executive vice-chairman Belinda Stronach said in a statement.

Instead, Magna will donate $50,000 to 10 local charities and community groups."

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