• Free for qualified executives and consultants to industry

  • Receive quarterly issues of Area Development Magazine and special market report and directory issues


Ambassador: U.S. and Canada Working Together on Automotive Restructuring

Canada's ambassador to the United States says his country and the United States are both working closely with General Motors Corporation (GM) and Chrysler LLC, as well as their unions and creditors, as the companies' respective restructuring deadlines approach, according to the Associated Press (AP). AP reports that Ambassador Michael Wilson says Canada wants to be "on the same track" as that of President Barack Obama's administration when it makes the decisions about the two companies' futures. "We have been working very, very closely with people in the Treasury Department, in the White House to make sure that this is a viable package that provides the right amount of support for this sector, and something that will get ... a very important industry back on its feet, contributing the way it has for many, many years now," said Wilson in a video conference sponsored by Michigan State University's Canadian Studies Center and covered by the AP. Wilson also said the Canadian government decided last December that it wanted to share proportionately in any deal worked out by the Obama administration for the auto companies. AP says the auto industry employs more than 150,000 Canadians, mostly in the province of Ontario. The Canadian government has offered up to CAN$4 billion to the two companies to keep them afloat; Chrysler Canada has taken CAN$750 million but GM Canada has not taken any funds.

Exclusive Research