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Ottawa promises auto aid even without U.S. bailout

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Oregone Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-12-08 02:13 PM
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Ottawa promises auto aid even without U.S. bailout
TORONTO — Federal Industry Minister Tony Clement said Ottawa is looking at providing aid to auto parts makers and car dealers, even if the U.S. government refuses to bail out the Detroit Three auto makers.

But Mr. Clement signalled it was unlikely the federal government would bail out the major auto makers in the absence of the U.S. deal, even as Canadian Auto Workers president Ken Lewenza urged Ottawa to do exactly that.

Mr. Lewenza's plea came amid further signs of distress in the industry, as General Motors Corp. said Friday that it will cut 250,000 vehicles from its first-quarter production schedule by temporarily closing 21 factories across North America.

http://business.theglobeandmail.com/servlet/story/RTGAM.20081212.wGMJanuary1212/BNStory/Business/home
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