After Tennessee and Alabama Refuse, Canada Agrees to Help US Automakers

[babylonsister]

http://emptywheel.firedoglake.com/2008/12/13/after-tennessee-and-alabama-refuse-canada-agress-to-help-us-automakers/

After Tennessee and Alabama Refuse, Canada Agrees to Help US Automakers
By: emptywheel Saturday December 13, 2008 9:42 am


Turns out I mistook which signature Michigan bridge would serve as a symbol for the loan the US automakers will get to hold them over until a saner Administration takes over: that bridge is not the Mackinaw bridge, connecting the two peninsulas of Michigan, but the Ambassador bridge, connecting Detroit to Canada.

The Canadians, you see, are coming to Detroit's rescue.

U.S. and Canadian governments say they will ride to the rescue of the beleaguered Detroit auto makers, hoping to head off a catastrophic collapse of Chrysler LLC or General Motors Corp. that would cascade throughout the North American economy.

Ottawa and Ontario will provide an estimated $3.4-billion to the Canadian units of the Detroit Three, while U.S. President George W. Bush will throw a $14-billion (U.S.) lifeline to their parent companies.

{snip}

{Canadian Industry Minister Tony} Clement would not provide a specific figure, but he said the amount of money in the Canadian bailout represents this country's one-fifth share of the Detroit Three's North American vehicle production and on Canada maintaining that percentage.

“Clearly, this amount of money is meant to be, as the U.S. is finding out, a way to keep the doors open for the domestic auto sector while they continue their long-term planning,” he said.

The move is not all that surprising. Ontario probably has more Big 2.5 workers than either Indiana or Ohio, and it has assembly plants that are at risk of being closed down, as well as a chunk of suppliers hoping to get paid.

Still, I wonder if it embarrasses Senators Corker and Shelby and McConnell that the Canucks care more about the American auto industry than the plantation caucus does?

Though I guess it's not surprising. For all his shortcomings, Prime Minister Stephen Harper probably realizes--as members of the plantation caucus apparently don't--that it's a stupid idea for politicians to actively pursue the impoverishment of a country's workers.

In any case, skdadl, Petrocelli, the rest of you lovely Canucks? Thanks for the help! I'll have to buy you all a bridge loan beer when we have that meet-up in Toronto, I guess.

[eleny]

1. Aw jeez...

:cry:

[The Backlash Cometh]

14. Well, it seems fitting. They have been acting more American than our

Republicans have been.

[eleny]

16. They sure have and it made me weepsy

[elleng]

2. How's this for a headline:

U.S. South refuses: CANADA Saves U.S. Automakers!

[frogcycle]

3. Hey, let's swap!

Cede Alabama and Tennessee to Mexico, make Canada a state!

[marmar]

4. America, just let us go: We've got the familiarity, we've got the accents (sort of).....

.... We've got the Loonies in our pockets. Just release Michigan to Canada. There wouldn't even be any border complications, eh. (prounounced "ay").
Canada gets to add nearly 10 million people, a vast manufacturing base and near total control of the Great Lakes, and we get national health care.

[TahitiNut]

7. Here ... let's practice. (Together, now.)

[Blue_Tires]

9. what's that bottom language?

[TahitiNut]

11. Innuit, I believe.

[SidDithers]

8. You'd be welcome...

as long as you're bringing the Wings with you :)

Sid

[TahitiNut]

10. Udamnwelbetcha! The Wings are OURS! (The automobile wheel ain't no accident.)

[TahitiNut]

5. 1/9th the population and 1/11th the GDP ... but Canada ponies up 1/5th the help?

http://www.unitednorthamerica.org/simdiff.htm

Maybe they're after our wimmen? :evilgrin: ("Canada has a 1% greater male pop.")

[boomerbust]

6. Wow

It really is a North v. South squabble.

[sandyj999]

15. I'm Afraid it Is again. Thank you Canada! n/t

[alfredo]

12. Canada doesn't want a bunch of economic refugees either.

It is so sad that the people of Kentucky reelected Mitch Toyota McConnell. We're stuck with him for six years unless we catch him with a dead hooker, (unlkely) or a live boy(more likely).

[ShortnFiery]

13. Oh Canada! Whatever your motivation, God Bless Ye!

:grouphug:

[Cleita]

17. K&R

:kick: