GM going down the tube after this statement.. Nothing will change because the UAW refuses change and Obama today paid tribute to the UAW and should show this nation and its ignorant people, the USA will become like Sweden and by end of Obama's Presidency be communistic/socialistic and nothing of what our forefathers envisioned... Obama and his "team" will encourage more welfare, more laziness, more immorality and those of us working hard will be paying more to feed those too damn lazy to get any job and build a life from and only take more freebie handouts!!!
Statement by the Honourable Tony Clement, Minister of Industry, on the Receipt by the U.S. Government of Restructuring Plans
From General Motors and Chrysler
8:16p ET February 17, 2009 (Market Wire)
On the issue of restructuring plans sent today to the U.S. government by General Motors Corporation and Chrysler LLC, the Honourable Tony Clement, Minister of Industry, made the following statement:
"I am encouraged that General Motors and Chrysler have submitted their long-term restructuring plans. I will not speculate on the content at this point. We look forward to receiving the restructuring plans for their Canadian operations on Friday.
"Our government understands the gravity of this situation with the North American auto industry. My officials and I continue to work closely with the companies and have been ready to provide repayable loans with certain conditions pursuant to the approach set out by Prime Minister Harper on December 20, 2008.
"As I have said before, there is a need for fundamental restructuring of the auto industry in order to achieve long-term sustainability. All stakeholders will have to contribute to making these companies viable and competitive in the long term. The government continues to make progress toward creating a positive business environment by imposing competitive tax rates, harmonizing regulations and making it easier for products to cross the border. We are promoting long-term investment, innovation and job creation across all sectors of the Canadian economy, and the auto industry is no exception."
Contacts: Office of the Honourable Tony Clement Minister of Industry Pema Lhalungpa - Press Secretary 613-995-9001 Industry Canada Media Relations 613-943-2502
SOURCE: Industry Canada
