Skallvia
17-04-2009, 23:23
http://www.ic.gc.ca/eic/site/ic1.nsf/eng/04535.html
Idk if this has been posted already, its a week or two old, but I cant believe I hadnt heard about this, or even had a mention that Canada also had a hand in GM and Chrysler...
The Honourable Tony Clement, Minister of Industry, the Honourable Jim Flaherty, Minister of Finance, and the Honourable Michael Bryant, Ontario Minister of Economic Development, today announced that the plans submitted by General Motors of Canada Limited and Chrysler Canada Inc. are not sufficient for the governments to certify their restructuring plans. The governments have requested that additional work be undertaken by General Motors and Chrysler as part of ongoing restructuring efforts.
“While the restructuring plans represent progress, they do not go far enough to ensure the long-term viability of these companies. Therefore, we are not certifying their proposals,” said Minister Clement. “Together with our U.S. counterparts we believe that further fundamental changes are needed.”
In conjunction with the U.S. Government, the governments of Canada and Ontario are requesting that both companies undertake additional work to ensure their future competitiveness and that all stakeholders contribute appropriately to improving the overall cost structures in their plans.
General Motors has been asked to undertake a more fundamental restructuring of its products and its operations, while Chrysler has been asked to come to terms with labour on a contract that works for the company and with Fiat on a workable alliance.
This additional work will be supported in Canada by the interim loans announced by Prime Minister Stephen Harper and Ontario Premier Dalton McGuinty on December 20, 2008. Canada is contributing 20 percent of the existing U.S. interim financing, in keeping with its share of Canada–U.S. production.
It doesnt really bother me, but, the fact that I only found out from a citation on Wikipedia does somehow...
Idk if this has been posted already, its a week or two old, but I cant believe I hadnt heard about this, or even had a mention that Canada also had a hand in GM and Chrysler...
The Honourable Tony Clement, Minister of Industry, the Honourable Jim Flaherty, Minister of Finance, and the Honourable Michael Bryant, Ontario Minister of Economic Development, today announced that the plans submitted by General Motors of Canada Limited and Chrysler Canada Inc. are not sufficient for the governments to certify their restructuring plans. The governments have requested that additional work be undertaken by General Motors and Chrysler as part of ongoing restructuring efforts.
“While the restructuring plans represent progress, they do not go far enough to ensure the long-term viability of these companies. Therefore, we are not certifying their proposals,” said Minister Clement. “Together with our U.S. counterparts we believe that further fundamental changes are needed.”
In conjunction with the U.S. Government, the governments of Canada and Ontario are requesting that both companies undertake additional work to ensure their future competitiveness and that all stakeholders contribute appropriately to improving the overall cost structures in their plans.
General Motors has been asked to undertake a more fundamental restructuring of its products and its operations, while Chrysler has been asked to come to terms with labour on a contract that works for the company and with Fiat on a workable alliance.
This additional work will be supported in Canada by the interim loans announced by Prime Minister Stephen Harper and Ontario Premier Dalton McGuinty on December 20, 2008. Canada is contributing 20 percent of the existing U.S. interim financing, in keeping with its share of Canada–U.S. production.
It doesnt really bother me, but, the fact that I only found out from a citation on Wikipedia does somehow...