Dec
20
2008
Canada Chipping In On Auto Bailout
Posted by: acm in auto, bailout, tags: bailout, CanadaCanada will be offering almost $4 Billion Canadian dollars to GM and Chrysler to help with the bailout.
From Fox:
Ontario Premier Dalton McGuinty says his province will provide 1.3 billion Canadian dollars ($1.07 billion), with the rest provided by Ottawa for a total of 4 billion Canadian dollars in renewable loans payable to the Canadian subsidiaries.
Prime Minister Stephen Harper, however, says that Saturday’s announcement “is not a blank check” for the industry, suggesting both the companies and their employers will have to make concessions.
Let’s hope they get the hint on company and employees concessions.
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