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post #1 of 15 (permalink) Old 12-21-2008, 06:50 AM Thread Starter

 
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Post Canadian Govt. offers $4 billion bailout to Big Three

The federal and Ontario governments have announced a 4 billion Canadian dollars ($3.29 billion) bailout package for the Canadian subsidiaries of the Detroit Three automakers.

The announcement follows a pledge Friday by President George W. Bush to offer $17.4 billion in emergency loans to General Motors Corp. and Chrysler LLC.



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.

Harper, however, says that today’s announcement “is not a blank check” for the industry, suggesting both the companies and their employers will have to make concessions.

The carmakers are suffering from their slowest sales in 26 years and dwindling operating cash.

Analysts on both sides of the border speculate the bailouts will become much more expensive over the years.



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post #2 of 15 (permalink) Old 12-21-2008, 06:57 AM
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It only applies if the US contributes the rest though. McGuinty is an idiot, can't wait until he's outta there, I think he's related somehow to Mulroney.
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post #3 of 15 (permalink) Old 12-21-2008, 02:40 PM
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you realize that most on here are too young and too american to remember Mulroney other than as the host of Canadian Idol
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post #4 of 15 (permalink) Old 12-21-2008, 02:51 PM
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you realize that most on here are too young and too american to remember Mulroney other than as the host of Canadian Idol
lol....but wasn't Brian Mulroney American? I though the way he handed over all our money, and natural resources he had to be. Now McGuinty is gonna do the same thing.
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post #5 of 15 (permalink) Old 12-21-2008, 05:06 PM
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No he was Canadian, and his previous employer ( Iron Ore Company of Canada) was owned by the Brits ( Rio Tinto Zinc).. he just really liked all the old Ronnie Reagan movies...
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post #6 of 15 (permalink) Old 12-21-2008, 05:49 PM
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So its stupid that Canada offered up some money? With how much Chrysler employees up there and produces up there isn't it good for you guys as well? I mean is they went under how many Canadians would be out of work?
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post #7 of 15 (permalink) Old 12-21-2008, 07:12 PM
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So its stupid that Canada offered up some money? With how much Chrysler employees up there and produces up there isn't it good for you guys as well? I mean is they went under how many Canadians would be out of work?
The thing is, Chrysler Canada makes money!

GM has been sucking the life out of the auto industry for years, so what do they do, redesign their whole line-up of cars and replace the ugly cars with even uglier ones.
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post #8 of 15 (permalink) Old 12-21-2008, 07:16 PM
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But what would Chrysler Canada do if the HQ and US operation went bust? I just thought it was nice to offer the help is all lol. Mayba Canada should buy Chrysler and make it Candaian? ;-)
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post #9 of 15 (permalink) Old 12-21-2008, 07:19 PM
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But what would Chrysler Canada do if the HQ and US operation went bust? I just thought it was nice to offer the help is all lol. Mayba Canada should buy Chrysler and make it Candaian? ;-)
We would, except Brian Mulroney already gave us to the US
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post #10 of 15 (permalink) Old 12-21-2008, 10:48 PM
 
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we would, except brian mulroney already gave us to the us
lmao.......................
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post #11 of 15 (permalink) Old 12-22-2008, 11:20 AM
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Out of curioisty becasue i think this is a big reason they are in the shape they are in, do the Canadian factories have to deal with the UAW?
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post #12 of 15 (permalink) Old 12-22-2008, 01:17 PM
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We would, except Brian Mulroney already gave us to the US
Admit it, youre proud to be an American!
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post #13 of 15 (permalink) Old 12-22-2008, 04:33 PM
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Out of curioisty becasue i think this is a big reason they are in the shape they are in, do the Canadian factories have to deal with the UAW?
We have CAW...Canadian Auto Worker's
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post #14 of 15 (permalink) Old 12-22-2008, 04:33 PM
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Admit it, youre proud to be an American!
I plead the fifth
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post #15 of 15 (permalink) Old 12-22-2008, 11:48 PM
 
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Up here the transplants pay their fulltime workers more than the Detroit 3 to keep the union out.
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