Canada's auto aid package a "sigh of relief" to auto makers

American auto makers just can't possibly have any nails left, as they for certain have been chewing them to no end over the past week. After the auto bailout package had failed in Congress on December 12, there had been so many speculative offers and thoughts that basically anything that could've been played out was there for the taking. So when the US government came to the aid of the Big Three by offering immediate funds--with caveats--there was a better feeling amongst the car company brass. And when Canada, who has thousands of jobs that hang in the balance for this situation--especially in Ottawa--came through with an additional 4 Billion announced yesterday, the response was overwhelmingly positive and appreciative from Detroit.

The breakdown of the package shows that Ottawa will give approximately 2.7 billion and Ontario will give the remaining 1.3 billion. However, as the US government has noted, this isn't just money that's being given--there needs to be results. Prime Minister Stephen Harper noted that the aid package "is not a blank cheque" and that he wants to see the car companies and their unions work together to restructure their operations.

GM Canada spokesperson David Paterson said the Canadian response will provide a "great sigh of relief" across the industry, noting that the loans will help his company complete a transition it began in 2005. (Credit Canadian Press).

Gee, ya think? Now, come on boys, make it work!!!!

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Canada's auto aid package a "sigh of relief" to auto makers

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