Aug 02 2009
The New GM Restructuring Plans
While General Motors Corporation in the U.S. will complete its restructuring plan through the court system, GM Canada won't because of government intervention and investments. GM Canada is now an entity on its own, and will not be affected by the U.S. filing. GM Canada was bailed out by the taxpayers of Canada and Ontario, late last month. Consistent with the principal of proportional support for proportional production, the governments of Canada and Ontario have invested $10.6 billion in General Motors. This investment ensures certain benefits for Canadians and Canadian auto workers. These benefits being:
- Five new vehicles including hybrids from the Oshawa and Ingersol production plants.
