General Motors of Canada Ltd. is seeking a rescue package totalling $3.2-billion from Ottawa and Ontario, including $800-million in emergency loans, according to a source familiar with the company's restructuring plan submitted to the federal and provincial governments on Friday.*
In all, the Canadian subsidiaries are asking for government loans or lines of credit totalling $6.8-billion to help them weather the crisis in the auto sector.
Let them rationalise....
...some of their third world subsidiaries... then we'll talk bailout here at home...
