Word: gm
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
...same event, Ontario Premier Dalton McGuinty said, "The alternative would have been a devastating blow to Ontario families and communities." GM Canada annually buys about $7.2 billion worth of parts from Ontario suppliers, who employ 45,000 workers. These and spin-off jobs would have also been jeopardized by the failure of GM Canada...
Unlike Obama, PM Harper conceded that he is not optimistic about recouping the billions of dollars Canadian taxpayers are giving to GM. Perhaps that's a more realistic approach given that at today's market capitalization on the NYSE, Canada's 12% stake in the automaker is worth a shocking $54 million. (The U.S. and Canadian bailout of the automaker is nearly 130 times the company's present value...
...This is a one-shot deal and we have to be optimistic it will succeed," says Canadian Auto Workers president Ken Lewenza, adding that he had expected the bailout of GM Canada to be larger than the $2.7 billion figure first floated by Ottawa...
However Canada's willingness to offer as much as it has to GM Canada comes in the face of strong public opposition to the bailout, even in dyed-in-the-wool auto towns like Oshawa and Windsor. "Across Canada opposition to bailing out the car companies is something like 4 to 1," says analyst DesRosiers, who has more than 30 years of auto-industry experience. For $9 billion, he adds, the Canadian government could have asked any of the solvent Japanese or European automakers to build five new car plants in Ontario...
Obama assembled all the major players - California Governor Arnold Schwarzenegger, GM CEO Fritz Henderson, Michigan Representative John Dingell - some of whom are still locked in lawsuits over California's earlier attempts to pass its own stricter fuel-efficiency standards. (Under the Clean Air Act, the state has the right to implement auto-pollution regulations that are tougher than national laws, provided that the Environmental Protection Agency issues a waiver, which was denied under George W. Bush.) For Obama, the simple fact that these habitually warring parties were willing to come together on the new requirements was as important...