Canada offers $3.29 billion in loans Detroit Three

[Omaha Steve]

Source: AP

TORONTO (AP) - 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. (GM) (GM) 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.

Read more: http://apnews.excite.com/article/20081220/D956HU281.htm...

[acmavm]

1. Thank you Canada!

[area51]

2. Canada should make part of the obligation

that the U.S. management use their huge CEO and upper management salaries to hire lawyers to advocate to Congress & the PE for single-payer healthcare; that's a big part of the reason that U.S. automakers are in such trouble now. Our current healthcare delivery (or if you're poor, non-delivery) system is completely unsustainable.

[jetphixer]

3. IT'S THE HEALTH CARE STUPID

Thank You CANADA you folks are way ahead of stupid the chump Bush
We need single pay health care here also.. Thank You again I have Faith in CN dollars Not Bush Dollars or shoes.