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'Low likelihood' Chrysler loans will be repaid

From Monday's Globe and Mail

Billions in financing from Canadian governments likely gone, bankruptcy court hears ...Read the full article

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  1. Hunkered down in the land of never ending promises from Canada writes: If anyone thought that the recipients of bail out funds were going to see them repaid, psst, I've got a hot deal on the Brooklyn bridge you might be interested in.
  2. J. Michael from Canada writes: Ah yes, anything to keep those bonuses coming!
  3. A C from France writes: Really, just how surprising is this? That is how it goes with subsidies for dinosaur industries....

    All my respect and sympathy to employees and retirees both at Chrysler and at suppliers (amongst other D3 stakeholders!).
  4. Naomi Y from Canada writes: Well, I guess the UAW/CAW political donation finally reaping crazy returns.
  5. V Patterson from Fredericton, Canada writes: Headline was so shocking I dropped my toast.....
  6. J. Michael from Canada writes: It seems to me that the average person with a brain was advising against these sorts of handouts.
  7. Royal City Pundit from Canada writes: Nothing like throwing good money after bad. So much for the myth that the CONservatives are prudent fiscal managers.
  8. V Patterson from Fredericton, Canada writes: Note please, previous post was total sarcasm.
  9. A Political Economist from Toronto, Canada writes: Why are we paying for the decisions by this corporation and its workers to abuse the customer, provide shyte products and destroy the environment? During the boom years, why didn't they save up for the 'rainy day'? We should not be giving them one cent. If you want to bail someone out, bail out the small business owner by cutting taxes, WSIB claims and government fees. Put the money there as opposed to these dinosaurs.
  10. Serenity Now from Canada writes: I was at lunch with a friend back when they were just starting to give them the money, and he said 'don't give them the money, they'll end up going bankrupt anyways'.

    Wow, and here we are!
  11. David Simon from Canada writes: 'Low likelihood'?

    What an optimist.
  12. Frog Man from Over here, Canada writes: V Patterson from Fredericton, Canada writes: Headline was so shocking I dropped my toast.....
    ...........

    I like your sarcasm.... I hope no one believes Chrysler will survive. Bond holder rights, unlike what Mr. Obama believes, will likely force liquidation. I know I would. There's no way institutions and hedge funds, as well as Bill Gates and other foundations, will accept so little in return.

    On top of that, Chrysler is not selling CARS!!!!! So these loans were like giving a gambling addict extra coins for the slots.

    This is not fiscal conservatism I would expect AND demand from our Government. Every household in Canada saw this coming.

    Cheers!
  13. Auroran Bear from Montreal, Canada writes: And while we are at it, let's put money into other promising industries such as eight track tapes.
  14. Johnny Q Driveway from Canada writes: Thanks Harper.

    You are an economic genious.

    Keep up the good work.
  15. P Martin from St. John's, Canada writes: Ahhh...another brilliant Harper decision - he is great at them. Why not call it what it is, EI for Ontario/Quebec. Of course they get a much higher EI, plus benefits, but it comes down to the same thing.
  16. Captain Feathersword from Canada writes: I wish all parties would approach this with more honesty toward the taxpayers.....these were gifts, not loans, and everyone knew this from the outset....why couldn't the government just have called them gifts and be upfront with everyone?
  17. John Hinkley from Canada writes: How many times can one say 'I told you so!' before a politician listens?

    The only winner in the Chrysler fiasco is Cerebus. That loud sucking sound you hear is them sucking the money out of Chrysler into their own pockets.

    Chrysler loses. Employees lose. Suppliers lose. Taxpayers lose.

    There's got to be some way to force self-serving politicians to listen to the public at large instead of special interest groups that only represent a very small number of Canadian taxpayers.

    General elections don't seem to work.

    Politicians every where continue to spend taxpayers' money as if it was there own.

    AAAAAAAAAARRRRRRRRRRRGGGGGGGGGGGGGHHHHHHHHHH!

    A cry in the dark!
  18. Malone Sumself from Canada writes: It was the dip-lib coalition that DEMANDED immediate action to save this industry as well as others. At the threat of election. Harper was an idjit to let these clowns push an agenda -- should have called an election and buried these knobs.

    Anybody that ever believed these were loans were simply drinking too much of the Koolaid.
  19. Claude Carriere from Canada writes: Robert Manzo, an executive director with Capstone Advisory Group, told a Manhattan courtroom that there is a 'low likelihood' the so-called debtor-in-possession financing would be repaid, since it is subordinate to almost $7-billion (U.S.) in Chrysler debt held by banks, hedge funds and other lenders.

    ------------------------------------------------------
    Indirectly bailing out the banks at the same time.
  20. Peter Grimm from Canada writes: This bankruptcy was 'blamed' on minority bond holders refusing to accept 30 cents on the dollar. According to this article they held only 680 million of the 6.9 billion first tier debt. So we lose 4.5 billion of taxpayer dolars to pay less than a billion? Seems to me somebody other than just the minority share holders will benefit from this!
  21. Careful Reader from North of the US Border and Loving It, Canada writes: Shocking news, indeed. I was already planning on how to spend the interest we would all earn from these loans. Oh, well...

    Don't forget that the 'low likelihood' of repayment refers only to DIP financing, they're not talking about the previous loans (the ones we were promised had a 7% interest rate attached, so they were great business). These loans are the 'zero likelihood' repayment ones.

    I love the part where GM says that its 'Canadian subsidiary has 'overachieved' in its cost-cutting effort'. Please, guys, you have to waste some money, you're making GM USA look bad.

    Whether the bailout is the right thing or not, I wish, like Captain Feathersword said, that they were more honest with the taxpayers. Their excuses and explanations are getting more and more ridiculous.
  22. Joe Canadian from Canada writes: This is not a surprise. This is what the general public said all along. Give Chrysler & GM billions in bailout & it would never be seen again. Proof that the taxpaying public really does know whats going on, it's just too bad no one listens to us.
  23. Steve French from Windsor (Flint, North), Canada writes: No worries, just add it to the national debt, like everything else.
    The vultures and parasites really pile it on during times like this.
  24. Mono Mel from Canada writes: Given the staggering amount of money that has gone up in smoke here, I can't help but wonder what could have been accomplished if these funds had been granted to other Canadian industries and companies that will survive this economy, to further their reach, open new markets, develop new intellectual properties, re-tool etc. The growth that could have been generated would have helped to offset at least some of the jobs that will still inevitably be lost by the auto industry.
    Any farmer will tell you not to waste time sowing seed and spreading fertilizer on a paved parking lot.
  25. Robin Hood from Toronto, Canada writes: Trying to get a politician to listen is like pissing in the wind.
  26. Alex Dunnigan from Canada writes: Hmmm ... wouldn't it have been cheaper to pay this amount out in EI and retraining grants? The auto industry has been on the verge of collapse even in good times .... who's running these companies?
  27. Dick Garneau from Canada writes: The American and Canadian tax payers have been warning for months this was a bad investment.

    You can bribe folks to buy cars when they don't want them.
    .
  28. slapdash dapoint from harper is not a conservative, Canada writes: just like i posted before - and is now nowhere to be ssen - it's a shame that the current canadian gov't can't be held criminally responsible for their actions over the past 6 months.

    anyone with an uneducated understanding of the billions handed out by the 'conservatives' could plainly see the frauds that are rampant.
  29. Harper can't be trusted from Canada writes: Considering the fact that this is YOUR MONEY that Harper pi$$ed away, the lack of outrage is staggering!

    YOUR MONEY.

    Could have been used for health care.

    Could have been used for education.

    Could have been used to fight poverty.

    Could have been used for Research and Development.

    Instead Harper pi$$ed it away.

    And it's YOUR MONEY he flushed

    Where is the outrage?
  30. Hockey Nomad from Mississauga, Canada writes: low likelihood? hmm, so this is another example of corporate welfare or socialism?

    Remember the above when the topic is broached in the US about single payer healthcare that it is 'socialism' or there is no free lunch.

    Another classic example of unequal protection exercised by the government; corporate welfare, not social welfare.
  31. Ontario Man from Canada writes: Things like this can cause the govenment to fall. So much for protecting taxpayer money.

    Now, let's repeat the same fiasco with Air Canada.
  32. Joe shoppin in the U.S from Canada writes: -----------

    Politicians never listen? LMAO

    What are you guys/gals talking about? All our politicians are busy testifying or preparing for public inquiries related to scandals and fraud. Cut them some slack would ya? I figure the inquiry on this one should be set to run somewhere around 2013-14 after the liquidation is fully over.

    Middle-class slavery lives on...

    --------------
  33. Stan Duptall from Canada writes: Really happy we had an economist like Stephen Harper at the helm to protect our money when decisions like this are made.

    Steve, if you don't do money well, what the fugg do you do well?
  34. John Connor from Canada writes: Since the union is selling it's 55 % stake, we should be attaching the sale proceeds. After all, they are the owner and they're selling off a bankrupt asset..............
  35. Steve French from Windsor (Flint, North), Canada writes: What a shocker!
    Who could have predicted such a thing?
    I mean, besides every taxpayer in the country...
  36. 50 mikemike from Canada writes:

    This massive waste of taxpayer dollars was thrown away due to the pressure to provide 'stimulus spending' applied by the Liberal Michael Ignatieff, the NDP's Jack Layton, and the BLOC-head Gilles Duceppe, and that a-hole idiot Lewenza also had a hand in that.

    I won’t be squandering my 1 vote on any of these 3 political parties, and most likely not the CPC either.
    -
  37. D. L. from Toronto, Canada writes: The money will contribute to a pot out of which some supplier somewhere in southern ontario will eventually see something. Sometimes the government has to be a backstop of last resort. It's job is not always to be a sh1t hot investor.
  38. nitro meyi from toronto, Canada writes: ahhh gotta love the sweet smell of fiscal corruption....

    i find it funny how the media sees this as 'shocking'...from the very start even the average joe on the street could smell the *** on the bailout deal for chrysler...
  39. IHATE UNIONS from Golden Lake ON, Canada writes: What a joke!! This flithy garbage container of a crap auto company has been on a steady decline to bankruptcy for years and the Gov't gives them billions of dollars just as they are taking their last breath. How dumb is that? Duh? Excellent ROI Harpo and McGuilty.

    The Gov't should be forced by the taypayers to pay back to each Canadian citzen the amount of money they just threw out the window.

    Even the UAW president retard wants to dump his 55% stake in Chyrysler, probably the smartest investment move he ever made.

    Gov't wastage is sickening. Reminds me of how the Gov't spends on Healthcare.
  40. Glynn W from Canada writes: As if we need some expert panel to tlee us this...money down the drain from the start of the run!
  41. Rick Crouch from Canada writes: Insert a clause in the loan agreements whereby Canadians can be repaid with a free Fiat in every garage. The 'low likelihhood' with that is nobody will want one!
  42. Honda Toyota from Canada writes: HA HA HA - and this is a headline?

    Who the heck is surprised, and who cares. As long as this company is toast and removed from the planet I'm happy. Take the garbage products with them and the union scabs can hit the street looking for paper routes.

    Bottom line, if the the company has a union, they are dead.
  43. Anne Peterson from Canada writes: Smooth move government. At least forget the ideology and claim some of the infrastructure and retool it so Canadian workers can produce something useful.
  44. Gerry Taylor from London, Canada writes: A union, a government and a crap car company in bed together. Did anyone really think was ever going to work out. GM will be next.
  45. Joe Canadian from Canada writes: The union claims that they are not responsible for the situation & yet they own a 55% stake in Chrysler - uuhmmm, isn't that controlling interest in the company. Guess now we know where all the money is disappearing to. And here's the union crying sympathy & poverty, saying it has made big sacrifices to save the company. Who the h@ll do they think they are kidding. Does the union think the taxpaying public are stupid. We said all along, NO BAILOUT. The ndp, liberals & bloc parties all publicly supported bailing out chrysler & gm and those 3 political parties accused the gov't of failing auto workers. Now we know that the ndp, liberals & bloc were not trying to save jobs but were knowingly publicly supporting & forcing a bailout of the unions.
  46. David Stevens from Don't give Chrysler a cent, Canada writes: If the you trust the free market, then let it thin out the heard once in a while.

    Chrysler was dying in the 1980s' because it couldn't compete with SMALL cars from Japan. In 1979 there was an energy crisis. A 1979 Auto Bailout from Congress allowed it to live another day.

    In 2008 Chrysler is making big cars again, oil doubles in price and people start to ditch their big vehicles. Toyota has a terrific year, and Chrysler's days are numbered again. Voila! MORE money from government.

    Some put this thing out of its misery.
  47. Edwin Lee from Toronto, Canada writes: ANOTHER BAILOUT REQUEST:

    Magna workers fought to have their wages increased to $200/hr.

    They noticed that autoworkers just concessed to reduced wages to $59/hr and they will come forward to help all autoworkers to fight for $200/hr.

    However, Magna is under bankruptcy and Magna workers would like the help of autoworkers. They need each autoworker to provide loan to Magna so that Magna can continue to pay $200/hr.

    Magna workers relized the importance of middle working class and all of their workers pay tax and contribute to community, more than autoworkers.

    Unemployed autoworkers laid off during the past year have to wait until richer Magna workers are saved first.

    Would autoworkers like to bailout Magna workers who make 4 times more than them?
  48. Auroran Bear from Montreal, Canada writes: If Chrysler wants to make money, convert all those ginormous factories you have into massive grocery stores. People don't need to buy new cars but they need to eat.

    Imagine the bulk discounts you could get purchasing as you have the freaking storage space for it.

    Look at the story on how much Loblaws is making!
  49. Edwin Lee from Toronto, Canada writes:
    500,000 unemployed canadians
    The $4 billion bailout money will be better spend on food & shelters for these poorer canadians.
  50. Joe Canadian from Canada writes: Alex Dunnigan asks- who's running these companies? The union owns a 55% stake in chrysler - that tell you whose running these companies. You remember, the unions guys that have sacrificed so much in all of this (sarcasim).
  51. Gronck the realist from Canada writes: DUH! Canadian and Ontario governments. what a bunch of idiots and with our moneyW
  52. Chris Halford from Ottawa, Canada writes: Hunkered down in the land of never ending promises from Canada writes: If anyone thought that the recipients of bail out funds were going to see them repaid, psst, I've got a hot deal on the Brooklyn bridge you might be interested in.

    ** Indeed. Whether we see Chrysler generate many jobs again in Canada remains to be seen too. I just don't undertsnad how the federal and Ontario governments thought it made any sense to pour money into a company as it prepared to go into Chapter 11.
  53. Edwin Lee from Canada writes: Auroran Bear from Montreal, Canada writes: 'If Chrysler wants to make money, convert all those ginormous factories you have into massive grocery stores. People don't need to buy new cars but they need to eat.'

    The price of food at those converted stores are not affordable when they paid $59/hr.

    Just turn the factories into food banks and shelters. At least poorer canadians are helped first.
  54. Chris Halford from Ottawa, Canada writes: Edwin Lee from Toronto, Canada writes:
    500,000 unemployed canadians
    The $4 billion bailout money will be better spend on food & shelters for these poorer canadians.

    ** For once I agree with you.
  55. Polly Sci from Brampton, Canada writes: The two dumbest people in Canada are the two that have control of the money. Put a stop payment on the loans and make them liquidate.

    An earlier poster had it perfect. They CAN'T SELL CARS. This is simply McGuinty and Harper trying to purchase the union vote for a billion and a half. The workers will be unemployed, but at least they will still vote for these idiots.
  56. consultant 4you from Canada writes: Why are we just slagging the federal government - didn't the Ontario McGuinty goverment also have a hand in this?

    I love the Americans - why?
    They thow 'tea parties' to protest taxes!!
    Canadians are such pushovers...we get slapped on the cheek and then turn around and offer the other one.

    What about the HST ? How do you think that is going to affect each and every Ontarion's standard of living? Reminisent of the Health Tax.
    And he said no new taxes.

    Where are the face book protest groups against such a waste of our money and corrupt lying politicians?

    Where are the lawyers who can assist in a lawsuit against the government politicians who LIE ?
  57. Stude Ham from Canada writes:
    as stated before... let the pork barrel swill sucking begin.

    funny how these news never surfaced or even seemed to have been considered prior to the opening of the tax payer funded pork barrel swill now being sucked dry by the leaders of the fiat fiasco.
  58. james p from Canada writes: 20 years I got $2000 from the government to subsidize my education.
    I paid it back in full and have been a very productive and profitable contributor to society ever since. But seeing what the banks and the auto industry have done lately with public money, i just feel like a goddamned fool.
  59. Hung Long from Hong Kong writes:
    What's this?!? Taxpayers lose their entire investment while the union walks away with 55% of the company without investing a single penny? Reimburse the government from union assets, including pension and health funds.

    The greedy UAW and CAW bled Chrysler dry. Let them take responsibility for their destruction of the company. It's not the taxpayers' fault.
  60. SL S from Canada writes: Where and at what time do you want me to show up to pick up my car Chrysler?
  61. J G from Canada writes: Iowned a Chrysler product until 5 months ago and it was a good car. At the same time I have to say way too many car manufacturers and Chrysler should be shut down. In addition their products are generally oversized with no competetive small car product.
  62. Canadian Red Neck from Canada writes: Warren Buffet said that he would only go into business with people who want to keep a share in the company as that was an indication of faith in the company. UAW/CAW know full well what kind of company GM and Chrysler are and what kind of workers they have, that's why they want to unload their share as fast as possible.

    There is no hope for GM and Chrysler. This is confirmed by the lack of faith by UAW/CAW in their desire to get out as soon as possible. Let's hope our government and its flunkies are slightly smarter than the autoworkers and their union hacks. I guess I believe in Santa Claus, Tooth Fairy and Easter Bunny too. Well, that's the fault of my parents.
  63. Rational Voice from Canada writes: Who gave the politicians the right to waste my tax money on Chrysler? I sure didn't!
  64. D. Hall from Canada writes: Who would have thought? Oh wait, almost everyone on this site figured it out.

    I always wonder about these things. Are governments so incredibly incompetent that they cannot see the obvious? Or are they so incredibly corrupt that they would simply give away huge sums of money to those they favour (or who favour them)?
  65. D Roberts from Canada writes: Obama is a fool, and a disaster. We certainly shouldn't follow anti-business anti-capitalist and pro-union ideologues. Taxpayers never get their money back in any 'investment' coordinated by the government. In Canada, the pay back is what about 5%? And we want more? Wait till the idiot Canadians elect professor Ignatiaf. More taxes, more government control, bigger unions and keep those raises coming for the public service. Yeay, more government, that's what we need.
  66. Glenn M from Houston, United States writes: Lots of Harper & Con bashing as usual. Has it ever occured to anyone that all of the parties and MPs are to blame. If you think the Libs & NDP are more fiscally responsible, then why haven't they stood up and done something? Hmmm........probably not in their own best interest me thinks.

    Well, at least the silver lining is that the Party in control only lost a few billion vs the 10's of billions that the failed 'coalition' would have squandered. Canadian 'values' really need to be recalibrated to something more in line with reality and sound principles. It's time for people to start taking responsibility for their own lives and actions. Self pity has become a multi-billion dollar industry in Canada and it's time for it to stop. No one is entitled to anything except basic rights.

    All the best to those hurt by this. It is a wake up call.
  67. Edwin Lee from Canada writes: What political parties to choose in next election:

    1. Tories - follow all footsteps of liberal, provide the bailout

    2. Liberal - will do the same bailout

    3. NDP - will provide more bailout, probably give all autoworkers a raise.

    4. Green - follow all footsteps of liberal

    5. Bloc - will only bailout factories in Quebec.

    Looks like Bloc is the best choice.
  68. A Bee from Canada writes: Harper thinks bankrupt Chrysler is worth 4 Research in Motions?

    Harper’s 2% stake is costing Canadians taxpayers $3.8 billion. Today’s Globe article says this loan is unlikely to be repaid. As such we are losing %3.8 billion to secure a measly 2% stake in near bankrupt Chysler who operates in the moribund new car marketplace, which is highly competitive, in the way that Chrysler is not. This implies a value of $188 billion for Chrysler.

    This is some four times the value of Canada’s high growth and market share dominant company, Research in Motion whose 566 million shares trade at a value of $87.48 for a total market capitalization of $49.5 billion.....or roughly 26 cents on the dollar for what we are paying for Chrysler.

    This guy’s an economist? This guy’s the Prime Minister? Time for Stevie to go write that book about the History of Hockey......as he is causing Canada to be completely shut out.......or is it sold out?
  69. Michael S from Canada writes: Has anybody ever doubted this? At no time has any right-thinking person thought that this loan money could / would be repaid. It's all lost and wasted monies! The truly tragic thing here is more money will be wasted before this is all over.
  70. Toronto Lover from Canada writes: I remember driving down the 401 near Kitchener and there were tons of meatheads with pickup trucks with bumper stickers that read 'out of a job yet, keep buying foreign'

    Well it seems these 'domestic' if you consider AMERICAN Companies such as GM and Chrysler as 'domestic'. These leeches are going to be sucking Our taxdollars to the tune of $4 billion dollars.

    Who's the biggest leach I'd say it's the so called 'domestic' car companies. We pay billions so CAW workers make 3X the average wage of Canadians, they pay zero into their pension plans but have a pensions that 75% of Canadians do not. Boo hoo they have to pay $2 bucks to fill a prescription, and don't get free tuition, these crybabies are now sucking taxpayers dry.

    Every Canadian Taxpayer has paid a few hundred $ so these guys can make $35/hr with a pension that they contribute ZERO dollars to.

    Chrysler was also $1 BILLION behind in it's taxes so all this bull about it supporting our economy is a joke.

    I will never buy a crappy Chrysler or GM, low quality government bailout subsidized car.
  71. Y NOT from Canada writes: I quess that retro-1970's 5.8lt Hemi muscle enviro friendly muscle car did the trick after all. WHAT A JOKE!!!!

    ps..... WHERE DO I SIGN UP FOR THESE CONSUMER FRIENDLY LOANS!!
  72. Being Canadian from Canada writes: Oh, so Chrysler may not (read won't) pay it's loans. This is only news to the ridiculous, the ignorant and the stupid.
    I told you so. Suckers!
    Cerebus, Dan 'potatoe' Qualye and the elites took everything and I mean everything of value they could and they've flown the coop. It wouldn't have happened of course if Harper had not rid the treasury of it's outstanding 12 billions dollar surplus in his first days as PM. But it's all part of the plan.
    I'm forever amazed at the utter hatred for the country, and contempt Canadian people have for their kids and their future. Everything they do is seemingly geared toward destruction and the removal of a first world living for their children. Personally I love my kid and did everything I could to stop it, but most, especially on these forums, truly are myopically consumed with themselves in a way that is frankly childish.
  73. Free The West Free The West from Canada writes: As I read the above comments, I notice the goofs that are naming Harper as the goat here are exactly the same posters that pushed the coalition agenda to expand these bailouts!
  74. C Gardner from Canada writes: Instead of throwing good money after bad, to failing, poorly run American corporations, why hasn't anyone in gov't suggested that you take that money, and use it to make it easier for Canadians to buy new cars? Drop the GST on new car sales, drop the tarrifs that make cars about 20 percent more expensive in Canada than the US.
    Better the incentives above for greener, more efficient vehicles.
  75. joe garcia from Canada writes: The sooner Chrysler Canada ceases to exist, THE BETTER FOR CANADA.

    The company is obviously NOT worth spending any $ or time on - stick a fork into it already and let it go as it's done like dinner.

    Well run companies like Honda and Toyota Canada will easilly pick up the slack and ensure that Canadians have a plentifull supply of quality vehicles.

    Pouring tax payers money on unorganized badly managed companies like Chrysler is irresponsible! If you have a leaky faucet that's wasting gallons of water daily, what would you do? 1) trhough it to the garbage and have it replaced by a orking faucet, or B) wrap a band-aida around the pipe and keep wasting gallons of water?

    It's really a NO BRAINER.

    Smart Canadian tax payers can help accelerate the process and lead to the SOLUTION by:

    BOYCOTING CHRYSLER until vanioshes and is no longer capable of robbing us all of futher $$$$$
  76. Edwin Lee from Toronto, Canada writes:
    'union will sell its 55-per-cent stake in Chrysler as soon as possible '

    The problem is, who will buy Chrysler stock from them, EXCEPT government.

    Our government use our money of $4 billion for only 2% stake. They will get 55% with $0 later.
  77. Trimmer 905 from Canada writes: This is like watching a slow-motion train wreck.So much for a 'surgical' bankruptcy.I didn't think there was any such thing.Watch for Chrysler to collapse completely and Fiat to bail. GM better be paying close attention,because they're NEXT!!!
  78. IHATE UNIONS from Golden Lake ON, Canada writes: The CAW/UAW is a bunch of blood sucking, cancerous leeches who show no ends to the destruction of an auto company, even a pathetic money losing joke like Chrysler. The Unions will suck the money out of the company and take the taxpayers handouts until they both are non-existant.

    Gov't wasteage at a grand scale, utterly amazing in these economic times.
  79. Anarandan Ananda from Vancouver, Canada writes: The banksters are running the US and now it is clear they are running Canada as well.
    Harper and retinue are a bunch of incompetents. His economic diploma is not useful for anything, not even as a substitute to toilet paper.
    God how sad is the state of our political landscape. There is money for crap car company and no money for EI, no money for social housing, no money for re-training and free post secondary education?
    Where are we heading?
    And this is the PM that Globe and Mail editorial said: Harper is the best to deal with an economic downturn. Well if he is the best, boy what will Iggy do, now that he has become the second best?

    Iggy is doomed to failure too. Sunday he sounded like a car salesman of a used car lot!
    Pathetic! LOL
  80. Whitney Dodman from Waterloo, Canada writes: The NA governments need to save the Unionized plants for one very good reason; they know how to protest. While the rest of us vent on blogs and to our friends about the thieves on Wall/Bay Streets, we dont' organize well. We are singular and timid. The Unions OTOH are a scary bunch. If you want to see a Banker Knee Smashing party, you just need to get this huge organized group angry and with no jobs to keep them busy.

    IMHO, it is a wise decision on the part of the Governments to keep the Devil's work out of their hands!
  81. D Roberts from Canada writes: This is the Liberal agenda. Harper should start being a Conservative and do the right thing. The country is with fiscal conservative principles right now. If he is clear on the choice between Liberal 'government everything', and sanity, he will wipe the Liberals off the map. But he does not have the confidence and courage to do what he knows is right, and what most Canadians know is right.

    Unions need to go away. In private, and especially the public biz.
  82. Naomi Y from Canada writes: Being Canadian from Canada writes: Oh, so Chrysler may not (read won't) pay it's loans. This is only news to the ridiculous, the ignorant and the stupid.
    I told you so. Suckers!
    Cerebus, Dan 'potatoe' Qualye and the elites took everything and I mean everything of value they could and they've flown the coop. It wouldn't have happened of course if Harper had not rid the treasury of it's outstanding 12 billions dollar surplus in his first days as PM. But it's all part of the plan.
    -----------------
    Exactly what did Cerberus took? Chrysler is worthless to begin with, Daimler literally pay money to Cerberus to get rid of it. Now, the govt is paying Fiat money to take it.

    Chrysler is so loaded with debt and parasitic union it's worthless.
  83. Jason Fournier from Acton, Canada writes: Duh.
  84. George 426 from Canada writes: Keep the faith, people. It will all work out in the end. Do not be so quick to wish for a major employer to shut down. Be careful what you wish for...
  85. O Perdana from Canada writes: Fascism is alive and well in North Amerika!

    Carpe diem.
  86. Steve French from Windsor (Flint, North), Canada writes: For 4 billion dollar we could have bought every share of common stock on the market in Chrysler.
    Instead, we got 2% of nothing.
    Another great deal for taxpayers negotiated by ruling class overlords bailing out their buddies.
  87. Louis Elias from Canada writes: Thw government sho9uld have simply bought GM and Chrysler.....they gave them enough money to do so and now there is f all to show for it.....good job.
  88. Glynn W from Canada writes: Now FIAT is going to do the same thing as Cerberus...and once its go the government by the b@lls, threaten to jump ship unless...another few billions or so gets thrown is way. What have we learnt from this crisis - nothing but same old same old tricks with same old peoplefalling into them.
  89. joe garcia from Canada writes: SUPPORT LEACHES and ensure Canadian Tax Payers keep getting ripped off by the tune of Billions for years to come by purchasing Chrysler vehicles

    OR

    Send a clear message by ONLY purchasing vehicles from NON-BANKRUPT companies.

  90. Hugo Hall from Calgary, Canada writes: For all the twits who kept reminding us that these were not 'handouts', they were 'loans', and that we'd get the money back, well there you have it. There's a reason no bank would touch Chrysler with a barge pole. I'm fed up of governments throwing our money down the drain on useless ventures that are doomed from the start. Unfortunately the only palatable alternative at the federal level, the Liberals, has an even worse record of corporate welfare bailouts.
  91. Joe shoppin in the U.S from Canada writes:
    --------

    WASTAGE OF EPIC PORPORTIONS

    ---------
  92. Louis Elias from Canada writes: never buy chrysler or gm again....ever.
  93. joe garcia from Canada writes: CAW loves SUCKERS who purchase CHRYSLER vehicles.

    It means they can MAXIMISE their Coffee Breaks, and MINIMIZE having to actually work.

    Why WORK? When Canadian Tax Payers agree to have their Goverment BAIL them out and keep Pouring Billions so they can enjoy a RELAXED lifestyle and PERKS all within a Bankrupted Company.

    KEEP POURING BILLIONS INTO CHRYSLER if you LOVE LEACHES!!!

    or

    BOYCOTT CHRYSLER,

    Canadian Consummers are free to chose

  94. Free Baron Black of Crossharbour from Canada writes: Look for a nice campaign donation to the Harper Party from the CAW.
  95. T.A. McDonald from Dartmouth, Canada writes: 'GM has already pledged its Canadian assests to secure other loans' so if things fall apart Canadians wn't get a dime. As Stephen Harper would say ' Look' we are not fools here, the Canadian taxpayers will not agree to provide bail out money to add value to assets that are probably going to seized by the US govenrment or some other creditor. When things start to smell fishy its time to consult the experts. WWDD - What would Danny Do?
  96. Knuckles Muldoon from Etobicoke, Canada writes: None of these politicians would ever think of putting their own money up, but when it's taxpayers' money, hey, what the heck!
  97. david t from Canada writes: What have I been telling you people Chrysler is going to FAIL and Fiat is going down as well. We must let the government know we DO NOT support wasted taxpayers money on a LOSER corporation when that money should be spent on taxpaying Canadians.

    BOYCOTT CHRYSLER
    BOYCOTT CHRYSLER
    BOYCOTT CHRYSLER

    Together we can make this Month of May and every month the worst sales month every for chrysler

    BOYCOTT CHRYSLER AND SPREAD THE WORD
  98. ALASTAIR JAMES BERRY from NANAIMO, Canada writes:
    Would somebody please explain why, pecisely, the AUTO WORKERS should be, in effect, subsidized by the TAXPAYERS and not B C's forestry workers? (Except it's a long way for our workers to get to Parliament Hill, Ottawa, and demonstrate!)

    It is insane to prop up dying industries!
  99. Rob Swanson from Canada writes: Ummm, were not these loans to prevent an unsecured bankruptcy?

    Mr. Harper, you will choke on this.

    Shame on you.
  100. IHATE UNIONS from Golden Lake ON, Canada writes: BOYCOTING CHRYSLER !!

    BOYCOTING GM!!
  101. Bad Bob from Canada writes: Most people knew this from the beginning. What a waste of money. DO NOT GIVE ANY MONEY TO AUTO COMPANIES. They are nothing more than black holes.
  102. Ob Server from Canada writes: No surprise there. In the past 10 years GM and Chrysler have torched over $250Billion of cash and shareholder value....MB alone lost over $40Billion in that failed takeover....what a disaster.

    And the worst news is that FIAT saving them is a pipe dream. I'm sticking to my Japanese cars.
  103. Edwin Lee from Canada writes: D Roberts from Canada writes: 'This is the Liberal agenda. Harper should start being a Conservative and do the right thing'

    No. Haper should join Liberal.

    Same as NDP Bob Rae.
  104. Ivan Wilson from Canada writes: Did any fools think the loans would ever be repaid.
  105. Richard O'Connell from Melbourne beach, United States writes: I know this story is about Chrysler, but I am struck by the fact that there is not one complaint about the billions given to banks with no strings attached. The banks that we have bailed out are now robbing us blind with higher credit card interest, refusing to give the average person a loan and pocketing obscene bonuses.
  106. Edwin Lee from Toronto, Canada writes: George 426 from Canada writes: 'Keep the faith, people. It will all work out in the end. '

    All companies can work out in the end...with government support. Even Nortel, Lehman Brothers.....

    We can even re-established the Fur industry, with autoworkers' support.
  107. Fractional Reserve Banking from Canada writes: Sure hope someone doesn't burn the plants down over the summer, that would suck........
  108. david t from Canada writes: 'Richard O'Connell from Melbourne beach, United States writes: I know this story is about Chrysler, but I am struck by the fact that there is not one complaint about the billions given to banks with no strings attached. The banks that we have bailed out are now robbing us blind with higher credit card interest, refusing to give the average person a loan and pocketing obscene bonuses'

    Richard I complained full force about the banks being bailout out which was even more wrong. The fact is all this baulout money is being given to loser banks and corproations who are bankrupt. Why should taxpayers money support banks/corporation? We must call our MP,MPP or anyone we can complain to. Also we must BOYCOTT CHRYSLER and spread the word. Tell everyone you know that we Canadians can show the government we sill STAND UP.

    BOYCOTT CHRYSLER
    BOYCOTT CHRYSLER
    BOYCOTT CHRYSLER and spread the word
  109. Edwin Lee from Canada writes: Time to express your anger:

    http://www.premier.gov.on.ca/feedback/feedback.asp
  110. wayne powers from saskatoon, writes: So they are taking every cent they can get their hands on and stuffing it away to make sure the executive class can still live in comfort at taxpayers expence. So who are the real welfare bums the working guys laid off with no job and no EI or the fat cats living high and getting tax breaks?
  111. Edwin Lee from Toronto, Canada writes: STUPID Harper.

    Unlike Obama, the money you provided to save union jobs will not come back to Tories as political donations.

    Union will donate to NDP and Liberal.
  112. Glynn W from Canada writes: How much they can fleece off the taxpayers DEPENDS on how far taxpayers allow them to PUSH them! So far, it seems like the depths into which taxpayers are willing to be pushed into is an abyss.
  113. IBM IBM from Canada writes: What's this?!? Taxpayers lose their entire investment while the union walks away with 55% of the company without investing a single penny?

    F'N GOVERNMENT>>>Harper, Igg, Jack, PQ can all get lost....they are all the same.

    THEY ARE ALL LOSERS !!!
  114. IBM IBM from Canada writes:
    Maybe...

    Freedom Party of Canada

    http://www.freedomparty.ca/htm/en/party.htm
  115. Joel Banks from Halifax, Canada writes: Is this announcement part of the analysis that is now firing up the stock markets here, and in the US:
    Taxpayers lose=market brokers and traders win, an equation that resembles: savers lose through zero interest rates=mortagage lenders and realtors gain through central bank rigging of rates.

    God help us!
  116. D P from calgary, Canada writes: well now thats odd. a few months ago all the complaining in these comments were that the government wasnt doing enough, wasnt propping up companies as it should.

    now that the obvious has been brought to light, the comments are all 'how dumb are you harper' and such. wow some people on here flip flop around like a fish out of water.
  117. Harper can't be trusted from Canada writes: Richard O'Connell from Melbourne beach, United States writes: I know this story is about Chrysler, but I am struck by the fact that there is not one complaint about the billions given to banks with no strings attached. The banks that we have bailed out are now robbing us blind with higher credit card interest, refusing to give the average person a loan and pocketing obscene bonuses.
    -----------------------

    This is Harper's proven way of doing things.

    Remember how he burned through a $12 billion surplus of YOUR MONEY in a failed effort to buy a majority?

    Remember how he gave billions of YOUR MONEY to Quebec in a failed attempt to buy a majority there?

    Remember how he sold off YOUR GOVERNMENT BUILDINGS and squandered the cash in a failed effort to buy a majority?

    The sad and pathetic list goes on and on and on...

    With Harper, it's not about the citizens he is supposed to serve, it's about USING YOUR MONEY to achieve his foul agenda...a majority government so that he can rule absolutely.

    And if you let that happen you really WON'T recognize Canada anymore.

    Perhaps the question to ask is...who has benefited from Harper giving YOUR MONEY to Chrysler and the banks, and how is that in turn intended to benefit Harper?

    Coz it sure as hell doesn't benefit the citizens of Canada to GIVE OUR MONEY AWAY with no hope of a return.

    Think about it
  118. J. G. from Montreal, Canada writes: Foget the pre-bancrupcy loans but how on earth can DIP financing be subordinate to bank loan hedge funds an other landers? Who negotiated that agreement? If DIP finacing was provided by any instituton other than the govrnment the loan would be senior, secured and protected by strict debt covenants.
  119. backward country from Canada writes: UNBELIEVABLE Fuc..king STUPID GOVERNMENT !!!! DISGUSTING!

    WHAT A FRAKIN' WASTE OF TAXPAYERS MONEY!!!!!

    THE CAW ARE WORTHLESS FAT LEECHES, NEVER WORKED A DAY IN THEIR LAZY A$$ LIVES.

    CHRYSLER SHOULD HAVE LET TO DIE OFF ALONG WITH THE CAW!

    LIKE THE OTHERS HAVE SAID HERE:

    BOYCOTT CHRYSLER
    BOYCOTT CHRYSLER
    BOYCOTT CHRYSLER

    ALSO,

    BOYCOTT GM
    BOYCOTT GM
    BOYCOTT GM

    THEY ARE BOTH WASTE OF MONEY, METAL AND RESOURCES!!
  120. D T from Canada writes: Should have let this dog die! Better off to loan money to a brand new company
  121. Fractional Reserve Banking from Canada writes: Reminds me of a song 'Get up, time to break a little something........FED UP! time to go head hunting'........
  122. T.A. McDonald from Dartmouth, Canada writes: Again folks, since nobody answered..What Would Danny Do?

    Danny would and we should seize the company assets now and restructure these companies so they have the best chance at survival from Canada's perspective. Lets no longer pretend that any element of free market capitalism is at work here...its not. If Canadians are getting undressed here against their will, lets make sure the vultures don't find us all wearing panties.
  123. Fractional Reserve Banking from Canada writes: Edwin Lee from Canada writes: Time to express your anger:

    http://www.premier.gov.on.ca/feedback/feedback.asp

    ____________________

    We're WAY past that Ed. Like you're thinking though.

    You want real change, a baseball bat and 1,000,000 pissed off fellow citizens is the only way I'm afraid.

    That's the level we're at.
  124. backward country from Canada writes: I'M FUK'IN PISSED! ANYONE ELSE ?
  125. IBM IBM from Canada writes: What's this?!? Taxpayers lose their entire investment while the union walks away with 55% of the company without investing a single penny?

    F'N GOVERNMENT>>>Harper, Igg, Jack, PQ can all get lost....they are all the same.

    maybe...

    Freedom Party of Canada

    http://www.freedomparty.ca/htm/en/party.htm
  126. Hockey Nomad from Mississauga, Canada writes: How would you BOYCOTT CHRYSLER AND BOYCOTT GM now that someone on your behalf invested a shitload of your tax dollars?
  127. Edwin Lee from Canada writes:
    Let's vote for PQ

    1. Tories - follow all footsteps of US, provide the bailout

    2. Liberal - will do the same bailout

    3. NDP - will provide more bailout, probably give all autoworkers a raise.

    4. Green - follow all footsteps of liberal

    5. PQ - will only bailout factories in Quebec.
  128. Child of the North in Canada from Canada writes: Governments around the globe are scared. Their pandering to corporations and banks with globalization has led to a greedfest over the last twenty-five years that has sucked all the money out of the middle-class and placed it in the hands of a few. Governments are busy firing up the presses printing money to try to buy jobs for workers and save the dinosaur corporations they work for. Once the lid is ripped off to expose how poor most people have become in the western world, governments know there will be riots in the street. This is not just a Harper phenomenon or a Conservative crisis, for that matter. Both Liberal and Conservative governments have worshipped at the alter of multinational corporations and now they have to pay the piper. Here is a clip of a Conservative MEP verbally smacking Gordon Brown.

    http://commoditybullmarket.blogspot.com/2009/03/conservative-brit-lays-smack-down-on.html
  129. Tony . from Waterloo, Canada writes:
    We overthrew the last Liberal government largely because $100M was wasted on the Sponsorship scandal with little to no actual benefit to Canadians coming from that money.

    Now the Federal Conservative government just wasted over $2 BILLION dollars with little to no benefit to Canadians coming from that money (McGuinty is wasting a billion or two of Ontario taxpayer's money, but everyone already knows he's incompetent and an idiot).

    Can you say CarScam?
  130. Peter vliegende hollander from Calgary Foothills, Canada writes: 1. All those 'commentators' did you write Harper NOT to spend that money? ( at least I did, not much help, yet I tried)
    2. The press just 'regurgitates' the news. Read Chomsky...
    3. All politicians have long ago lost their marbles. They are playing with ours... House of Commons, er, goons...
    4. Where is the French revolution now that we need it???
  131. Edwin Lee from Canada writes: Child of the North in Canada from Canada writes: 'Governments around the globe are scared. Their pandering to corporations and banks with globalization has led to a greedfest over the last twenty-five years that has sucked all the money out of the middle-class and placed it in the hands of a few'

    No, we still have wealthy middle class, hired by those corporations.
  132. Fernando Ongkeko from Canada writes: as much as we all know that this is all expected.... i could only hope that the government will not raise taxes to pay for this.....
  133. IBM IBM from Canada writes:
    Hockey Nomad from Mississauga, Canada writes: How would you BOYCOTT CHRYSLER AND BOYCOTT GM now that someone on your behalf invested a shitload of your tax dollars?
    ------------------------------------
    Last I checked we don't live in Russia and the government playing favoritism and nationalizing companies in the free the market is not capitalism. Business failure in the free market is part of doing business...or at least it was.

    Taxpayers lose their entire investment while the union walks away with 55% of the company without investing a single penny?

    Air Canada's Private Pension Plan is 3.2 billion dollars short.....Is this the next state run welfare case?
  134. Hillbilly Bob from now living in the city!, Canada writes: Harper is so gone - if he can't do the $$ right, then what is the point really.

    What a mistake that party has been - really, who'd thought a bunch of idiots led my a semi-smart guy could have done any good?

    Goodbye.
  135. True Patriot from Canada writes: People condemned Leona Helmsley for saying, 'We don't pay taxes. Only the little people pay taxes ...'.' Given what has been done with our tax dollars by the CRAP party, I think it's clear that its not only the little people, but the the idiots as well who pay taxes.
  136. Frank Green from Vancouver, Canada writes: 'United Auto Workers president Ron Gettelfinger says the union will sell its 55-per-cent stake in Chrysler as soon as possible to fund a trust that will take over the company's retiree health care payments starting next year.'

    You don't suppose that this means that the unions are more concerned about filling their pockets with government money than really caring about the success of Chrysler do you?
  137. Angry West Coast Canuck from Canada writes: I'm getting SO damn tired of this 'socialism for the rich' while everyone else is getting so-called 'pure capitalism' pushed down our collective throats by a variety of neo-con governments. This to fund a corporation that doesn't pay its fair share of taxes in Canada?

    The shareholders get their cut, the executives get their huge cuts, and the taxpayers get BUGGER ALL, as usual. Meanwhile, the politicians who made these decisions get donations to their party from those people who profited from this unwarranted giveaway.

    Smells corrupt. Feels corrupt. It IS corrupt.
  138. Being Canadian from Canada writes: Anarandan Ananda from Vancouver, Canada writes: The banksters are running the US and now it is clear they are running Canada as well.
    Harper and retinue are a bunch of incompetents. His economic diploma is not useful for anything, not even as a substitute to toilet paper.
    God how sad is the state of our political landscape. There is money for crap car company and no money for EI, no money for social housing, no money for re-training and free post secondary education?
    Where are we heading?
    And this is the PM that Globe and Mail editorial said: Harper is the best to deal with an economic downturn. Well if he is the best, boy what will Iggy do, now that he has become the second best?

    Iggy is doomed to failure too. Sunday he sounded like a car salesman of a used car lot!
    Pathetic! LOL

    ---------------------------------------------------------------------------

    We are heading exactly where all the EVIDENCE points to... The Third World. It is worldwide and intentional.
    The CAW are fools, and anyone who thinks bankrupting the treasury is just fine, are fools too. But this is only the beginning. Hate to say I told you so, but I told you so. Only those who have contempt for their children will allow this onslaught, that will never let up, continue.
  139. Child of the North in Canada from Canada writes: Does anybody really believe the Liberals would not have poured money into this sinkhole too? All governments are spending money irrationally. They are trying to delay the coming total collapse of their currencies and the economy. The alternative for governments is to watch millions of people lose their jobs, a few bankers in the US and the UK get obscenely wealthy and most politicians that got fat turning a blind eye while the investment and pension accounts in their countries were raided by the banksters. This is the perfect recipe for the French Revolution - 21st century style.
  140. Mike Glatt from Canada writes: Here's maybe the more important question. If you didn't give Chrysler the money what would the cost be to the taxpayers?
  141. Is there anybody out there from Saltspring Island, Canada writes: a loan is a loan, a gift a gift, Governments lie.
  142. Richard Merriman from Reunion writes: Now it's time to extract massive concessions from workers in the financial field as well. This cf is entirely their responsibility. Moreover, Goldman Sachs employees, et al should be forced to sell their foreign cars and load up on D3 products.
  143. Brian W from Canada writes: I never planned to buy a GM or Chrysler again, and this is all the more reason. I hope the CAW is happy.
  144. Bob Cajun from Canada writes: what kind of an idiot would offer DIP financing without a postponement of position from all creditors? If those creditors don't like it, they can pony up the cash for a re-structure, or get pennies on a liquidation.

    seriously, I am sort off in that business. You never grant DIP financing without concessions. Ask any trustee. What is this - amateur hour at the Ministry of Finance?
  145. Being Canadian from Canada writes: Child of the North in Canada from Canada writes: Does anybody really believe the Liberals would not have poured money into this sinkhole too? All governments are spending money irrationally. They are trying to delay the coming total collapse of their currencies and the economy. The alternative for governments is to watch millions of people lose their jobs, a few bankers in the US and the UK get obscenely wealthy and most politicians that got fat turning a blind eye while the investment and pension accounts in their countries were raided by the banksters. This is the perfect recipe for the French Revolution - 21st century style.

    --------------------------------------------------------------------------------

    No revolution in Canada. Canadians are not only ignorant, stupid, fat cats and childish, but they are worse than that, they are cowards! They much prefer their children and grand children suffer, and they will suffer a great deal, than actually do anything of substance. Canadians are in general the worst form of citizens and do not in anyway deserve this great nation. Canadian's actions scream these truths and lack of action is an action.
  146. Le Penguin Guru from Canada writes: Fuggetaboutit, alright?
  147. Child of the North in Canada from Canada writes: Most people have no idea how much the markets are manipulated today. The stock market should be about buying into a company to help it grow because you believe it has value and produces something valuable for people to use. Cerberus is the perfect example of what the stock market has become. It has no interest in building cars for the long haul, something Lee Iaccoca was all about, but just wants to squeeze anything valuable out of the company and dump it.

    The whole system, not just Chrysler and GM, is very broke and no government seems to be willing to tell their citizens this truth and that we have to start over and rebuild.

    http://debtsofanation.blogspot.com/2009/04/debts-of-spenders-bear-market-rally.html
  148. Binder Dundat from Canada writes:
    You know those idiotic TV commercials with the beefy yahoo dudes, out in the desert, beating the crap out of RAM TOUGH pickups that obviously don't belong to them?

    Allegory, anyone?

  149. stew fair from Toronto, Canada writes: Well, the only way Chrysler or GM are going to see any of my money is if it is taken from my taxes. It's not like I'm going to by one of their POS cars.

    Image the prestige of driving a new Chrysler - 'look at me, my car was made be corporate welfare scam artists'.
  150. Philippe Davidson from Canada writes: This is just a thought: shouldn't a special corporate tax be applied on corporations that receive bailout money to recover the amount gradually when business recovers?
  151. IBM IBM from Canada writes: Mike Glatt from Canada writes: Here's maybe the more important question. If you didn't give Chrysler the money what would the cost be to the taxpayers?

    ---------------------------------------
    The cost of doing business the right way....yes businesses fail, people fall back on EI and CPP.... the profitable parts of the company is bought out or sold off and new businesses take over which in turn leads to economic growth and stability.

    Playing favoritism and creating stagnation by keeping zombie companies like Chrysler alive goes against free market principles.

    This whole fear tactic of economic disaster is smoke and mirrors manufactured to give public consent for the 3.77 billion dollar payout. But in this case it was actually paid out mainly against public wishes they just forced the taxpayer to bend over no questions asked. Nice democracy we live in.

    Conservatives, Liberals, PQ, NDP are all the same useless turds. I am of no political stripe because this is not the Canada I envision.
  152. Don Quixote from the moist warming Blackfly Belt, Ont., Canada writes: Years after all this is over, and all the ranting and raving navel gazers are occupied with polishing their luxurious belly buttons again,

    all this will be forgotten, and someone in the upper echelons of the government lending arm will write it all off,

    after all it's only our taxes, which pay for all the political success plays at going season, the supply has been deemed endless....
  153. Rain Couver from Canada writes: Well that was a productive use of my tax dollars.
  154. Being Canadian from Canada writes: stew fair from Toronto, Canada writes: Well, the only way Chrysler or GM are going to see any of my money is if it is taken from my taxes. It's not like I'm going to by one of their POS cars.

    Image the prestige of driving a new Chrysler - 'look at me, my car was made be corporate welfare scam artists'.

    ---------------------------------------------------------------------------------------

    And take and take and take from your taxes will be done, not just by GM, Chrysler, Cerebus and so on, but more and more companies. Robbing the treasury and bankrupting the nation is what the evidence is telling everyone. But Canadians have no eyes to see, no ears to hear and otherwise are just hoping for the best, while their childrens futures and their own retirement is stripped away from them until finally the end game, this race to the bottom and it will then be too late.
  155. Edwin Lee from Canada writes:
    When our tax are used to buy cars, we should pay our tax with our cars.

    We shall enclose our car keys to Revenue Canada as tax payment.
  156. Delphic Oracle from Canada writes: Chrysler, for those that may have already forgotten, was a basket case well before the resent financial meltdown occurred. Despite the gobs of money (Billions) invested by Daimler and the advantages of their technology and (one assumes) able management, Chrysler still couldn't make it and Daimler unloaded an already insolvent company taking Billions in losses. So now the Ontario and Canada governments have decided to invest more Billions of our tax payers' money in a venture that couldn't even make during the good times. This government funding is beyond misguided - its truly insane.
  157. Upchuck from Alberta from Canada writes: If there are any lawyers reading this, is there any way we can sue the federal government for misuse of tax money?
  158. m y from Canada writes: let me see:

    no money for the poor
    no money for EI
    no money for education
    no money for health care
    no money for workers

    but money for this bullshit

    when are canadians going to riot in the streets, wake up we're being fleeced every single day
  159. IT'S BCFORME from Canada writes: Harper has never done an honest day's work in his life. That's why he is so free and easy with taxpayers' money. It's all a game to him as he manoeuvers towards a majority. Just imagine what 1.45 billion could have done if it had been invested in enterprises with a future.
  160. Being Canadian from Canada writes: Delphic Oracle from Canada writes: ...'This government funding is beyond misguided - its truly insane.'
    -----------------------------------------------------------------------------------

    No it is not insane. It is intentional act. Get it?
  161. Bob F from Canada writes: High Fives all around... This is awesome!! I think the government should get more involved in private industry and lend all of our tax money to anyone who is running a crappy company that employs alot of people. Enjoy the tax hikes people... they are coming shortly. CAW great job on holding on to your crappy industry and jobs that were going away anyways. All that pressure just put your tax money for retraining programs into the hands of creditors. Again great job everyone!!
  162. Kim Morton from Canada writes: Anyone that thought Chrysler would repay any government money must buy their rose colored glasses from the same place the NDP and their union buddies buy financial advice.
  163. Hank M from Hamilton, Canada writes: When all this nonsense is over, what the gov's need to do is increase the taxes on these banks and hedge funds to enable THEM to repay the debts that they wanted bailouts for!
  164. True Patriot from Canada writes: 'Being Canadian from Canada writes: No revolution in Canada. Canadians are not only ignorant, stupid, fat cats and childish, but they are worse than that, they are cowards!'

    Don't forget that we also can't pronounce 'about', are inconsistent with our spelling, and smell bad.
  165. Gary Jidd from Mississauga, Canada writes: The only reason why these were called 'loans' is to make the free money more acceptable by the population. Government is just trying to lie to people again.
  166. Being Canadian from Canada writes: m y from Canada writes: let me see:

    no money for the poor
    no money for EI
    no money for education
    no money for health care
    no money for workers

    but money for this bullshit

    when are canadians going to riot in the streets, wake up we're being fleeced every single day
    ----------------------------------------------------------------------------

    Canadians are not going to riot in the streets because they are cowards and clearly hate their children. It's not going to happen. Canadians deserve every last horror that will, as all evidence suggests, befall them. They will suffer, they will lose social programs, they will not retire, they will not live a first world standard of living and they will silenced. Canadians are allowing with hope and glee the rapid and I do mean rapid destruction of this nation and our way of life.
  167. Richard Merriman from Reunion writes: One bitter irony here is that the car companies everyone praises: Honda, Toyota, Hyundai/Kia, Nissan all had the same start. They all received massive, countless billions of government grants to get started. They all enjoyed (to this day) completely protected domestic markets and they all initially built absolute crap.
    It appears we have the formula backward.
  168. Gary Jidd from Mississauga, Canada writes: Philippe Davidson from Canada writes: This is just a thought: shouldn't a special corporate tax be applied on corporations that receive bailout money to recover the amount gradually when business recovers?

    -------------

    Good point. The only problem, as we have seen in previous articles, is that these corporations default on their taxes too and our governments just let them.
  169. Sgt. Pepper from Whoville, Canada writes: Great - a welfare corporation - or a deadbeat one. Either way, good money after bad. Let Chrysler die the way auto companies have screwed smaller suppliers for years. No more of our tax money for these bums!
  170. Rhaji Y from or Maple Syrup Republic, Canada writes: Why can`t regular citizens over extend themselves, buy homes, cars, etc, declare bankruptcy, keep their possessions and credit rating and pay nothing back too, seems only fair.
  171. IBM IBM from Canada writes: IT'S BCFORME from Canada writes: Harper has never done an honest day's work in his life. That's why he is so free and easy with taxpayers' money. It's all a game to him as he manoeuvers towards a majority. Just imagine what 1.45 billion could have done if it had been invested in enterprises with a future.
    ------------------

    Its not just Harper, its all the political parties. And I am sick of playing the lesser of the evil game every time I vote for one. Things have to change for Canada in a big way....
  172. Claudia Adams from Toronto, Canada writes: it's called corporate welfare. you take it from the middle class and give it to the corporate elite. you try to disguise it as long as possible as 'helping workers, retirees, all the jobs that depend on the auto sector' etc. to fan the fear factor of impending total economic doom if 'we' do not help this industry but sooner or later the truth will probably reach the rest of us that teh whole scheme was a great ruse to funnel taxes from public to private hands. Since cars no longer generate profits (ok, for a while now), how else is the corporation supposed to dish out the bonuses? too bad for our hospitals, schools, universities, and the many emerging sectors of our economy that could have put these public funds to a use that actually benefits the public. Nice appropriation, governments (and I mean both here, the ON liberals and OT conservatives).
  173. Peter S from Canada writes: Why does Harper only believe in socialism when it helps corporations?
  174. backward country from Canada writes: We as Canadians... are getting 'screwed' everyday by our useless government.

    The incompetents gets protected and rewarded (yeah, CAW, that's you, corporate welfare cases like Chrysler and GM) while the hardworking taxpayers (non-union folks) gets it up the a$$.

    Another example... For the folks in Toronto... Comrade Mayor Miller stopped all pay increases to the non-union city employees but not for his cronies city employed union buddies! Pathetic.
  175. Chris G in Waterloo from Canada writes: I enjoy all the comments here.
    All I have to say is: I told you so.

    Even now.. as you sit there reading this.. Crysler is still getting & spending your money.

    The government is giving money to this company so that is can meet the payroll obligations in Canada.

    Is there an angry mob group on facebook I can join?
  176. Peter Wojnar from Hamilton, Canada writes:

    >>'Low likelihood' Chrysler loans will be repaid,
    Billions in financing from Canadian governments likely gone, bankruptcy court hears

    Should read 'No likelihood'.

    No wonder why there is no money for scientific research and development. It was all spent on failed auto companies so that CAW workers could keep their jobs.
  177. Richard Merriman from Reunion writes: Why all the fuss over a few billion dollars? Quebec has been jacking the rest of Canada since confederation for countless sums. Quebec has NEVER, and I mean NEVER, been a net contributor to Canada.
    Let's unload them along with Chrysler.
  178. Chris G in Waterloo from waterloo, Canada writes: Common Pete...
    Union slugs are people too
    lol.
  179. Rational Economics from Canada writes: This is shocking. I was always reluctantly in favour of loaning money, but to preserve some jobs and not to bail out previous investors and lenders. If they weren't willing to forgo some of their security in favour of the new loans, the government should have refused the new loans right from the get go and that is what they should consider doing so, now. And, if they do go ahead with the loans, they should first consider passing a special surtax on gains (i.e., recoveries) on loans that were previously written down. Naturally, the tax would only apply to companies that have been bailed out with government money.
  180. Chris G in Waterloo from waterloo, Canada writes: Dude.. I think you're off topic with the Quebec comments...
    Save it for the next referendum.

    As for Crysler.. there's nothing to unload.
    The company (and cars) needs to be chopped up and sold as scrap.
  181. Chris Hay from Regina, SK, Canada writes: Hard - earned tax dollars wasted by a government? What else is new? Perhaps this is what Mr Harper actually meant, when commenting last fall that 'now is a good time to invest in the stock market'? All that tax money given to a fully private company in order to allow a foreign company to set up a dealership network (Fiat surely isn't buying Chrysler for the quality cars they make!). Our great-grandchilren will still be paying for this fiasco meant to 'save' a few thousand jobs. Fiscal prudence you say? Pshaw!
  182. IBM IBM from Canada writes: Chris G in Waterloo from Canada writes: I enjoy all the comments here.
    All I have to say is: I told you so.

    Even now.. as you sit there reading this.. Crysler is still getting & spending your money.

    The government is giving money to this company so that is can meet the payroll obligations in Canada.

    Is there an angry mob group on facebook I can join?

    Try....

    http://www.freedomparty.ca/htm/en/party.htm

    not sure if they have the answers, but what do people have to lose.
  183. John Perry from Canada writes: Chrysler and GM have been good corporate citizens in Canada for decades. They run into turbulence caused by overextended Americans who leveraged themselves to the hilt, and therefore refused or couldn't purchase new vehicles. We felt the ripple effect from this, and are now paying the price. The two automakers ( and Ford will eventually follow, mark my words) ask for government help, and all hell breaks loose. And I can pinpoint the exact time this happened - the minute autoworkers wage and benefit compensation packages was made public, all the nay-sayers came out of the woodwork and started attacking us. There is no consideration given to GM & Chrysler's good record in the past, of providing Canadians with the vehicles they asked for. How about some fairness here.
  184. Glynn W from Canada writes: We know, we remember and feel what the government has done; BUT what can we do about it other than to let off steam here? I supposed it is a bit better than in a country where even steam can't be let off....then again maybe real change can only come when all the steam collects to the point of explosion instead of living in a pressure cooker where there is controlled steam letting!
  185. IBM IBM from Canada writes:

    Chrysler is a company that has been failing for the last 35 years, said University of Michigan Professor Gerald Meyers, a former chairman of American Motors Corp which was acquired by Chrysler in 1987. There is no economic justification for the existence of the Chrysler Corporation.
  186. Rational Economics from Canada writes: Being Canadian from Canada writes: 'Canadians are not going to riot in the streets because they are cowards and clearly hate their children. It's not going to happen. Canadians deserve every last horror that will, as all evidence suggests, befall them. They will suffer, they will lose social programs, they will not retire, they will not live a first world standard of living and they will silenced. Canadians are allowing with hope and glee the rapid and I do mean rapid destruction of this nation and our way of life. '

    ==================================

    This is an example of very flawed logic. The reason Canadians will (hopefully) not riot in the streets is not that they are cowards, but that they are smart enough and mature enough to realize that it would do far more harm than good (kind of like childhood temper tantrums). And, although I am not in favour of providing more loans without a good deal of additional security, I also realize that this is no where near as simple as this writer clearly WANTS to believe. I favour forcing the investors to choose between Chrysler getting additional loans or keeping all of their security. If they refuse to give up any security, then the government should walk. However, I also realize that walking won't just hurt the investors (many of which are pension funds for the middle class) and Chrysler employees, but a far greater number of people who work at auto parts manufacturers and make a fraction of what the workers at the auto companies earn. The reality is that there is no clean, simple, perfect answer; just a least of evils.

  187. Peter Wojnar from Hamilton, Canada writes:

    >>John Perry from Canada writes: Chrysler and GM have been good corporate citizens in Canada for decades. They run into turbulence caused by overextended Americans who leveraged themselves to the hilt, and therefore refused or couldn't purchase new vehicles. We felt the ripple effect from this, and are now paying the price.

    To claim that this is the only reason why GM ran into trouble is not true.

    GM's death was predicted in the industry over 3 years ago, before any economic crisis took hold. Chrysler is no better, actually worse.

    Here is a good expanation.

    http://www.wallstats.com/blog/the-fall-of-gm-a-visual-guide/
  188. Chris G in Waterloo from waterloo, Canada writes: Sorry John Perry. I totaly disagree with you.
    The north american producers have been in trouble for several years. The warning signs were there but their management did not heed them.

    High gas prices did the most damage. Their main bread and butter was BIG gas sucking vehicles. NOTHING was set aside for rainy days.
    No investment in R&D nor were they able to compete with the quality and economy of imports.
    They are and have been the high cost producers and the recent crisis was only the last straw to bring down the house.

    As you can see, the only one of them who may survive is Ford.
    I think that cost and quality issues will also be the death nail in Ford as well.
  189. John Keller from Canada writes: The Government could have helped thousands of small businesses with the billions that helped Chrysler, GM, Air Canada (to come).

    These small businesses would help more employees than all the above.

    Of course they are not high profile and are not represented by the CAW.

    By the way what do the executives of the CAW earn and what are their perks and bonuses ???????????
  190. Binder Dundat from Canada writes:
    John Perry writes: "Chrysler and GM have been good corporate citizens in Canada for decades ... there is no consideration given to GM & Chrysler's good record in the past, of providing Canadians with the vehicles they asked for ... How about some fairness here."

    Why isn't Honda asking for handouts (which is what a loan is, if you don't intend to pay it back)? They've been in Canada for decades, actually building cars we want. What about Toyota?

    People are right to be angry about money going to chronically mismanaged American transplants (I, for one, don't blame the line workers).
  191. High Entropy from Waterloo, Canada writes: 1500 million... poof!

    So with 33 million Canadians and an unemployment rate of 8%, that means each of us needs to pay an extra 50$ in income taxes to recover the money.

    It would be nice if we had a say on how taxes were spent, maybe a bunch of boxes for different areas to check off on the tax form.

    That way we could leave the "Stupid Ideas" box unchecked.
  192. Art Vandelai from Burlington, Canada writes: Claude Carriere from Canada writes: Robert Manzo, an executive director with Capstone Advisory Group, told a Manhattan courtroom that there is a "low likelihood" the so-called debtor-in-possession financing would be repaid, since it is subordinate to almost $7-billion (U.S.) in Chrysler debt held by banks, hedge funds and other lenders.

    This is the main point of all of this. Taxpayer money is not bailing out auto manufacturers or workers, it is once again going directly to banks and hedge funds.

    When will we LEARN?
  193. Glynn W from Canada writes: I can't see any difference between what FIAT and th current owners (Cerebus?) are doing except that FIAT might end up in an even better position some short time down the line as it isn't putting up quite as much, if any money....So get ready to be burned again.
  194. Le Penguin Guru from Canada writes: The bet would be that FIAt would be able to do something, then the payback is a non-issue IMHO. American made cars are cool. I drive an Intrepid and i'm happy with it. No japanese crap :).
  195. david t from Canada writes: "Being Canadian from Canada writes: m y from Canada writes: let me see:

    no money for the poor
    no money for EI
    no money for education
    no money for health care
    no money for workers

    but money for this bullshit

    when are canadians going to riot in the streets, wake up we're being fleeced every single day
    ----------------------------------------------------------------------------

    Canadians are not going to riot in the streets because they are cowards and clearly hate their children. It's not going to happen. Canadians deserve every last horror that will, as all evidence suggests, befall them. They will suffer, they will lose social programs, they will not retire, they will not live a first world standard of living and they will silenced. Canadians are allowing with hope and glee the rapid and I do mean rapid destruction of this nation and our way of life. "

    Canadians are by far the most uneducated brainwashed ignorant people in the world. The worst part is they don't know they have been brainwashed.
  196. Ray Crawford from People's Republic of Toronto, Canada writes: Ottawa has definitely, totally flipped out. Toyota and Honda aren't asking for any handouts. So why don't the Ontario and federal governments allow people who buy their cars and trucks to deduct the price of a new Toyota or Honda from their income tax returns. This is called rewarding companies who have their poop together.
  197. Wayne Morrison from Toronto, Canada writes: the people of Canada do not owe Chrysler, or GM, any handouts. They were here to do business, and make money [that's how the system works] and the fact they were good corporate citizens [which means they followed the rules] doesn't entitle them to hundreds of millions in public money. There is nothing warm and fuzzy about a car company, and we all know that if they couldn't make money over the years they would have pulled out long ago. The government is throwing good taxpayer money after bad, and in the end it won't even be Canadians who benefit. Fiat, Magna, whomever, will cherry-pick what can be made profitable and the taxpayers will be told by the various governments 'we tried'.
  198. Rick C from Calgary, Canada writes: 'Low likelihood' Chrysler loans will be repaid...

    Wow...Captain Obvious to the rescue.
  199. Hee Hoo Sai from Canada writes: In other news, low likelihood of taxpayers getting dollar value for wages paid to politicians, bail out cash gone and young offenders act still offensive. Detroit will recover when management techniques return to the pre entitlement boner-us the consumer days. There is a large healthy market for non munchkin mobiles. Maybe not in large urban warrens, but city dwellers tend to like small cramped everything, like the mental capacity of most Ontario politicians.
  200. Rick C from Calgary, Canada writes: david t from Canada:

    There is only one problem with your drivel.

    Whatever faults you come up with regarding Canada's response to the recession...the rest of the world is worse.

    Relatively speaking our banks are in good shape. Unlike the US, Britain, China and most of Europe we haven't had to nationalize them.

    I don't support the bailout loans; but the amount of money p!ssed away on that endeavour in Canada is peanuts compared to what the US and Europe are spending.

    If Canadians are allowing the rapid destruction of our way of life at least we will have a lot of company because virtually every other country on this planet is worse off than we are.
  201. Mikey Dee from Canada writes: I have said this from the start...no bail-out money PERIOD!! Let the chips fall where they may but to put good money after bad is both foolish, and stupid . All at the expense of the hard working taxpayers.
    These "loans" have taken corporate welfare to a whole new level!
  202. Glynn W from Canada writes: Helloooooooo....anyone in the Canadian government (s) (present and future) listening???!!!
  203. Raymond P from Canada writes: The CAW caves in to Chrysler and the governments. Why? In order to guarantee loans that will go to pay debts. Without the help of the CAW Chrysler's creditors would get maybe 10 cents on the dollar. These creditors should be thanking the CAW.
  204. jan theman from Canada writes: Ray Crawford from People's Republic of Toronto, Canada writes: Ottawa has definitely, totally flipped out. Toyota and Honda aren't asking for any handouts. So why don't the Ontario and federal governments allow people who buy their cars and trucks to deduct the price of a new Toyota or Honda from their income tax returns. This is called rewarding companies who have their poop together
    --------------------------------------------------------------------------------------
    You sir, are a simple minded m0r0n. Toyota and Honda did receive government money from Japan( over 3 billion for Toyota). Their operations in Canada represent less that 5% of the companies total production. There was no way for them to ask our country for support. But i assure you that if we had 15-20% of their production in Canada it would have been that way. Or they would have left. Left with all the money that our government gave them to set up shop here. I wish no company required government support during theses difficult times. Your comments just represent the ignorance that most readers have towards the global auto industry.
  205. Being Canadian from Canada writes: Yep this one (Rational Economics) certainly proves my point.

    Canadians in general are so dumb, they don't even know they are dumb. They haven't a clue, not a clue and they simply will not do the research or put in the effort to see how ignorant they truly are. It's like they are children, they need to be told what to do, how to do it, what to think and how to think. Hopeless, just hopeless.

    And what is this "corporate welfare" vernacular? It is what it is, Totalitarian Fascist Corporatism enabled by corrupt and I do mean third world like corrupt governments. Just like what we have in Canada. It doesn't matter what party is in power. It does not matter. It'll make no difference of any real relevance.
  206. Tony . from Waterloo, Canada writes: Richard Merriman from Reunion writes: _"They all enjoyed (to this day) completely protected domestic markets and they all initially built absolute crap."-

    Our car industry is MORE protection, not less, than the Japanese.

    Tariff on car imports:
    Canada 6.3%
    Japan 0%

    Non-tariff barriers on engine types
    Canada -> Ethanol subsidies and special handouts for ethanol vehicles
    Japan -> Odd-ball tax scheme based on engine displacement

    Non-tariff barriers on safety
    Canada -> special standards that differ JUST enough from the U.S. that they need to be recertified here. Canada was one of the markets Mitsubishi never used to sell their Evo in because the Canadian version would have needed unique bumpers

    Non-tariff barriers on emission
    Japan -> Their own unique emission standards different from either North America or Europe

    And the list goes on. Long story short, we give EVERY BIT as much as we get when it comes to blocking foreign automotive imports. Yet the Japanese (at least some of them) have figured out how to work within the confines of our rules while the Detroit 3 have failed MISERABLY at working within the confines of theirs.

    Put simply it's nothing more than a case of bad management, and Chrysler has been the worst.
  207. jan theman from Canada writes: Scr@w your capitalism! It has failed. Failed miserably. Down with the free markets. Keep the working class working. Real growth will come from the working class. Not the house of cards, pretend, paper growth of the corrupt capitalist system. Bush ruined it for all of you Conservatives. The working class is the vast majority. Without us there is no economy!
  208. Being Canadian from Canada writes: Let the Class Warfare begin!!!!!!!!!!!!!!!!!!!!
  209. jan theman from Canada writes: Governments and unions owning big business. This is Exactly the way Karl Marx had predicted it would go when capitalism FAILED. The government is now in FEAR of losing the well paid middle/working class. Conservatism is dead. You are blind and in denial if you don't see it.
  210. Edwin Lee from Canada writes: jan theman from Canada writes: ""The working class is the vast majority. Without us there is no economy! "

    Let the working class help their fellow working class.

    Non-working class stay out of their way.
  211. Le Penguin Guru from Canada writes: I wanna drive a Canadian made Alfa-Romeo! very badly actually. Here is my 50 bucks. Make it happen.
  212. Former 2 Time CIBC Staffer from North Vancouver, Canada writes: Isn't debtor-in-possession financing supposed to rank near the top in any bankruptcy repayment? Otherwise, which institution (financial or otherwise) would ever provide DIP fianancing in these situations? I think Ottawa is the real DIP in this case... Ottawa was obviously asleep at the switch when it came time to protecting taxpayers' dollars.
  213. IBM IBM from Canada writes: Who cares about democracy or the free market...its dead anyways, and most people don't care, afraid to care or too biased based on self-interest to care anyways.

    Lets just bury our heads and keep working hard to get those taxes paid to the government.

    Come on masses...work harder, longer...!
  214. jan theman from Canada writes: Former 2 Time CIBC Staffer from North Vancouver, Canada writes: Isn't debtor-in-possession financing supposed to rank near the top in any bankruptcy repayment?
    ----------------------------------------------------------------------------------
    Yes, but they simply financed their own business. They are owners in the company!
  215. Being Canadian from Canada writes: jan theman from Canada writes: Governments and unions owning big business. This is Exactly the way Karl Marx had predicted it would go when capitalism FAILED. The government is now in FEAR of losing the well paid middle/working class. Conservatism is dead. You are blind and in denial if you don't see it.
    ----------------------------------------------------------------------------------------

    Good points except about the governments FEAR of losing the middle class.
    It is the intention of the government to get rid of the middle class, or haven't you been paying attention? They only FEAR the POWER of the middle class to voice their interests.
    It is best then to destroy/remove the middle class from having any relevant voice in government policy so that the third world globalization can continue unabated. And as the EVIDENCE shows that agenda is moving along just nicely thank you.
  216. Barry Turner from Canada writes: Next election folks, ABC, ABL, ABNDP, ABGreens. Vote for someone who is not complicit in these multi-billion dollar frauds against the people of Canada, if you can find anyone.
  217. Being Canadian from Canada writes: Barry Turner from Canada writes: Next election folks, ABC, ABL, ABNDP, ABGreens. Vote for someone who is not complicit in these multi-billion dollar frauds against the people of Canada, if you can find anyone.
    ----------------------------------------------------------------------------------------

    Typical Canadian dreamer, sorry Barry if voting could actually change anything, it would be illegal. No one who could do anything to improve and slow down or stop this globalized third word slave creating nightmare could possibly get elected. No one! We are so beyond that silliness. There is only one and one option only. Buck up and grow a pair.
  218. Wandering Willy from Canada writes: The government should be seizing all of their assets in Canada and use the facilities to make a 100% Canadian car. If we can build the Avro Arrow and the Iroquois jet engine from scratch surly we can design and build a car. But considering the fact that the Conservatives axed the Avro program and Harper wants to name an Icebreaker after the idiot Diefenbaker that did it..........sigh.
  219. an astute commenter from Canada writes: Great. So glad my hard-earned money was squandered needlessly.
  220. Wayne Morrison from Toronto, Canada writes: Jan Theman needs to stop and take a deep breath. Then go read a book. He wants us to exchange one flawed system [that can be made to work] for a system so flawede that it will never work. Canada is at its best when it maintains, as it has for years, a delicate balance between socialism and capitalism. Abandoning what we know can work for us [if we have an intelligent, motivating government], for a system so laughably ineffective that its appeal is limited to the same type of person who bought into Social Credit, would be an error of biblical proportions. Fortunately, Jan Theman's babbling notwithstanding it isn't going to happen.
  221. Yvonne Wackernagel from Woodville, Canada writes: These Governments are feeding us a whole lot of manure. They consider that we are all IDIOTS.
  222. Misery No one from Toronto, Canada writes: Bla Bla Bla Israel continues the slaughter of the palestininians. Biden is joke. Has Biden visited Gaza?
  223. j boland from United States writes: I've bought 7 Chrysler and Ford cars in the last 20 plus years, relatively pleased with them, considered it a civic duty to buy home grown ones, a couple built in Sarnia.

    But this fiasco with Chrysler is criminal, legalized theft, with the UAW, an unsecured creditor, ending up with 55% ownership, and secured creditors getting less than 30 cents on the dollar. Average citizens using this kind of extortion for business purposes would go to jail. This is a gigantic pay off by Obama to the unions.

    So much for civic duty and what it gets ya. I consider Chrysler, and its products, now stolen property and I would no more buy such stolen property than I would buy a rolex off the street. I will never buy a Chrysler again, ever, and will make every effort to never even rent one at an airport.
  224. I, Canadian from Toronto, Canada writes: John Perry, why is it fair that tax payers have to bail out your company? Why is it fair that the auto companies and no other are receiving these hand outs? Why is it fair that you expect the taxpayer
    (most of whom do not and never will have pensions) to pay your pension?

    John??
  225. Joe V from Canada writes: Pull down your pants Canadian taxpayers and assume the position! The CAW wants your money, and $1,000,000 per job isn't enough yet!
  226. Lester M from Canada writes: They need a lot of cash to make those $140,000 severance payments given to each worker who retires!!!
  227. Gerald Saunders from Canada writes: Vehicles are going to cost us much more in the future. Add to the basic cost of a vehicle the amount each tax payer has paid to the Big Three. Amazing!
  228. Joe V from Canada writes: IBM IBM from Canada writes: "Try....
    http://www.freedomparty.ca/htm/en/party.htm"

    Wow. Listed there are some of the most intelligent policies that I have seen in years. If only it were a viable political alternative.
  229. Being Canadian from Canada writes: Yvonne Wackernagel from Woodville, Canada writes: These Governments are feeding us a whole lot of manure. They consider that we are all IDIOTS.
    ----------------------------------------------------------------------------------------

    But Yvonne, we are idiots! The CAW, GM, Chrysler pitting one against the other, deflecting the true nature of what's happening. The "don't look behind the curtain" scenario, "nothing to see here, move along" slight of hand.
    The I hate unions, the anti-Harper, pro capitalism, pro-Iggy crowd, pro-Harper, pro-union, whatever...they are all idiots too. Canadians are IDIOTS! They cannot see the forest through the tree's. They haven't a clue, not a clue, so the government is right CANADIANS ARE IDIOTS!
  230. Colin Varley from Canada writes: Hold on a second - if obligations to government backed student loans can't be dispensed with through personal bankruptcy how come these loan obligations can't survive Chrysler's bankruptcy as well? Sure it may take them 50 years to pay, but that's alright. "We just need a cheque for any amount - can't you get it form a family member?"
  231. Being Canadian from Canada writes: Joe V from Canada writes: IBM IBM from Canada writes: "Try....
    http://www.freedomparty.ca/htm/en/party.htm"

    Wow. Listed there are some of the most intelligent policies that I have seen in years. If only it were a viable political alternative.

    --------------------------------------------------------------------------------

    It's NOT a viable alternative. There is NO viable alternative.
    Stop living in a fairy tale like a little boy, grow a pair, man up and do what has to be done. Get it?
  232. Child of the North in Canada from Canada writes: I don't think most of you people get it. If the government loses these high-paying jobs, they don't have a clue how to replace them. They are hemorrhaging tax losses now and are scared sh!tless because they don't know how to fix it.

    I disagree with Being Canadian that this is a conspiracy to get rid of the middle-class. I believe the middle-class has been milked to death: their wages have been squeezed, their taxes have been raised endlessly along with everything they buy (gas, housing, education...) and, to top it off, the banksters and the investment roaches that live in the same environment have worked hard to clean out their investments. The banks, corporations and governments have just kept squeezing away thinking they could milk just a little bit more from this cash cow. Well the cow just laid down and died: they have no money to buy cars, houses, invest in the stock market or pay taxes so that fat politicians can work for a few years and collect a nice pension with benefits. Where is the money to come from? Guess we'll just have to print some more! Wonder how long that will last.
  233. joe garcia from Canada writes: What kind od people would even consider purchasing Junk built by Chrysler, Jeep, or Dodge?

    LOSERS
  234. Being Canadian from Canada writes: Child of the North in Canada from Canada, I think you're the one who doesn't get it! What fairytale are you living in? By the way like all simpletons and those who have myopic tendencies you chose to use the term conspiracy to reference my views. A term I did not use once. But while were on the term, look it up and you'll soon realize that everything is a conspiracy, yesterday I was part of a conspiracy with some friends to hold a birthday bash unbeknown to the target.
    But you don't get it, you seem to think the politicians won't get their share by dissolving the middle class as we know it. Well let me tell you something little boy, Third World Politicians do just fine with their pensions and benefit greatly from their third world status, so I have no idea what you are referencing but you seem to want to hang on to the a fairytale that does not exist rather than face reality. I understand it's easier to live in a fantasy world, that way it relieves your accountability when it all turns to do-do. Real men of course face up to what's before them. You may disagree with me all you want, but there is no evidence to support your views, but hang on to it, it is much much easier to believe in Santa Claus. You're wrong.
  235. joe garcia from Canada writes: Purchasing a product from Chrysler (A.K.A. Bankrupt Company periodically begging to be bailed out by Government thus royally ripping off Canadian taxpayers, who currently keeps every one of its Canadian unionized manufacturing plants Shut Down, and whose workers are notorious for organizing strikes, making grievances and demanding more pay for less work in producing junk that is renowned for its inferior quality) is making a statement; that is bending over, and getting it rammed-up the back-end.
  236. Being Canadian from Canada writes: joe garcia from Canada writes: Purchasing a product from Chrysler (A.K.A. Bankrupt Company periodically begging to be bailed out by Government thus royally ripping off Canadian taxpayers, who currently keeps every one of its Canadian unionized manufacturing plants Shut Down, and whose workers are notorious for organizing strikes, making grievances and demanding more pay for less work in producing junk that is renowned for its inferior quality) is making a statement; that is bending over, and getting it rammed-up the back-end.
    ---------------------------------------------------------------------------------------

    Now there is nothing so much wrong with getting it rammed-up the back-end. I would only qualify that statement with getting it done without lubrication. Now, that wouldn't be so nice. Still... to each his/her own.
    Geesh, how did the forum postings turn into an anti-sex realm?
  237. Steve French from Windsor (Flint, North), Canada writes: We are idiots. Just look at the pathetic scumbags we 'elect' to leadership positions.
    The ruling classes are no doubt, laughing at us, as they clean out our savings and dump go-zillions on the national debt.
    The greatest enemy of freedom and democracy has always been the stupidity of the general population.
    Want proof? Just read the comments section, any story will do.
  238. John Perry from Canada writes: Let me put it this way - as a 25 year veteran of the auto assembly lines, I won't walk away from this without some kind of personal bailout, mark my words. We typically get some kind of severance pay if liquidation does come about ( not that I would personally need that severance anyways ). Right now, my package would gross me around $140,000. Tax-wise I wouldn't have to worry about taking a hit, since my RRSP availability is 100%, plus I'm sure my union would have information out there to help us out. So many of you are just praying to see the CAW fall, and us autoworkers lose our jobs. Fine, make my day. I personally will pocket the cash ( which is really government a.k.a. your money paid with your taxes ), and do either of three things: live off my personal savings comfortably for the next 10 years, till I'm early-retirement CPP eligible - oh, btw, did I mention I will receive the top rate in CPP, minus a penalty ( 5% ) for taking it early?? Or, I can go back to school, courtesy again of the taxpayers using an EI program that will pay me for up to 2 years to learn another trade or livelihood. Or, I can seamlessly go to a job that is awaiting me out there as I type this, with a good hourly rate and benefits. So all in all, liquidation if it comes won't be that big a deal for me. For my fellow union brothers and sisters, the ones who didn't plan ahead strategically for such a day like I did, it may be tough sledding . I know a lot of them, husbands and wives who both work in Brampton, who could possibly lose their homes. I'll tell you who I won't feel sorry for though. My fellow brothers and sisters who work at Brampton Assembly, including spouses, who drive foreign imports, they wouldn't get a tear from me. Did I mention a lot of these couples are Asian?? Loyalty to the Oriental homeland tops loyalty to the company that pays you, you deserve every hardship you experience. Heartless on my part? Maybe, but my motto is:
    " HUNGRY? EAT YOUR IMPORT ! "
  239. Being Canadian from Canada writes: Steve French from Windsor (Flint, North), Canada writes: We are idiots. Just look at the pathetic scumbags we 'elect' to leadership positions.
    The ruling classes are no doubt, laughing at us, as they clean out our savings and dump go-zillions on the national debt.
    The greatest enemy of freedom and democracy has always been the stupidity of the general population.
    Want proof? Just read the comments section, any story will do.
    -------------------------------------------------------------------------------------
    You got that right, WE ARE IDIOTS and deserve everything coming to us and it's going to be ugly. I've been around the elite and ruling class and I can tell you, you are right, not only that, there is contempt for the non-ruling class. If reading the forums is any indication then I can tell you the country is lost. It is done. But the ruling class will be doing just fine.
  240. Toronto Lover from Canada writes: Chrysler is a foreign owned company, which is now being bailed out by another foreign owned company. So your definition of domestic is way off. Honda makes cars here too and they don't suck off the government teat like a welfare case.

    The meatheads who say 'got a job, keep buying foreign' are idiots. IT'S YOUR FAULT!!!! Why would anyone want a gas guzzling hemi or a 300, that's going to last a few years with crap service and quality?

    Autoworkers can blame everyone but themselves, when you have 5 retired workers for each worker, when you hold the companies hostage for unsustainable wages the chickens will come home to roost.

    It's the CAW's fault and the Company's fault. You made low quality cars and then you blame the consumer because they don't want a rapidly depreciating piece of junk? Chrysler is $1 Billion behind in taxes and now gets a few billion in Taxpayer grants? So it seems we're paying a few hundred thousand per job at uncompetitive rates.

    I'd say the taxpayer has been more than generous so you can keep your gold plated defined benefit pensions. Maybe you should switch to a defined contribution plan and shut the hell up.
  241. John Perry from Canada writes: Yo, Toronto Lover, as a buddy of mine at work says whenever someone is whining away about something or anything:

    " HOW DOES IT FEEL?? "

    And as he's singing this, he puts his hands together and wiggles his fingers around and slowly brings his hands up to his chin !! It is so hilarious, you have to see it. But seriously, sour grapes won't get you anywhere. You, and your union-hating buddies on this forum fail to understand that the reason governments give automakers money is because we have such a huge impact on the economies of the USA & Canada. For every autoworker job here in Canada, we have 7 spin-off jobs created in the communities. Each autoworker , on a yearly basis adds $300,000 of value-added worth to the total amount of vehicles he/she produces. We pay a high percentage income-tax wise, as well as property taxes and sales taxes. Take that away from the economy, be prepared to pay more out of your not-so-deep pockets
    :->> And I and my fellow autoworkers will appreciate every tax-dollar you give us, trust me. We are simply too valuable to fail. What other industry can that be said about it?? I personally don't care, as I'm set regardless. All the vitriol ( is that a hard word for you to understand? ) on this forum won't get you anywhere, we will get our money regardless. Start your revolution, it doesn't matter, as the Liberals would do the same thing if they were in power. Who would of thunk it, Stephen Harper coming to the rescue of autoworkers!! UNFRICKINBELIEVABLE!
  242. Christopher Kiely from Canada writes: Men are so simple and so much inclined to obey immediate needs that a deceiver will never lack victims for his deceptions.

    Men are so simple and yield so readily to the desires of the moment that he who will trick will always find another who will suffer to be tricked.

    -Niccolo Machiavelli
  243. Claudia Adams from Toronto, Canada writes: Being Canadian from Canada writes:

    ok, dude, you have obviously passed your undergraduate class in vulgar Marxism -- congratulations -- can you now please move on to the "I know I still need to grow up" comment board until you are ready to formulate a string of sentences that make sense and do not use the word "idiot" more than once for each one hundred words. Thanks.
  244. Claudia Adams from Toronto, Canada writes: @John Perry: Start your revolution, it doesn't matter, as the Liberals would do the same thing if they were in power. Who would of thunk it, Stephen Harper coming to the rescue of autoworkers!! UNFRICKINBELIEVABLE!

    it is correct that one of the reasons people on this forum, mostly clearly of the "common sense" type, are fuming so badly is their frustration with the conservative government's fiscal policies. They also, like you, falsely expected that the conservatives would govern in a fiscally responsible way. But why? It is the only party that can, in fact, underwrite this spending and still get re-elected because their voters (these folks here on the board) have no were else to go. I doubt very strongly that any of the other parties would have gone this far as for THEM it would have been the end of any aspirations to a majority (or even minority) government for a loooong time to come.
  245. Harold K from Windsor, ON, Canada writes: The Canadian governments' loans are unsecured, raising questions about how the governments will look after taxpayers' interests.

    The Harper Conservatives took the lead on this, thus are responsible for our not getting repaid (the Ont govt merely followed suit).

    I once thought the loans for Chrysler were a bad idea (due to the high risk), but now I realize it was necessary, and seems less risky now that FIAT is upsizing to Opel...
    BUT still, it was a knuckle-headed move for the Canadian/Ontario gov'ts not to secure these "loans"; as such, they ARE clear cut corporate welfare, which makes me rethink my support of them...

  246. Harold K from Windsor, ON, Canada writes: ps. Get some perspective folks; auto sector bailouts ARE A WORLD-WIDE phenomenon...

    Yeah, not securing the loans was unwise, but the loans/bailouts were still, in principle, a good idea.

    Like it or not, vehicles still are the engine of Western economies -- the most complex, research driven, and integrated consumer product we make. ALso, remember this IS the MOST SEVERE RECESSION since the 30's... NOT a good time to let CORE industries tank.

    Let Chrysler or G.M. tank and then watch the domino affect, as thousands of suppliers, etc. also tank... Toyota and Honda, etc. wanted the U.S. and Canada to support GM and Chrysler too... don't kid yourself.

    We will tax back the loans at some point, but I worry about the lack of job guarantees... Let's hope the CAW and UAW remain more moderate in years to come...

    Cheers.
  247. Edwin Lee from Toronto, Canada writes: Harold K from Windsor, ON, Canada writes: remember this IS the MOST SEVERE RECESSION since the 30's... NOT a good time to let CORE industries tank.

    Chrysler not representing the whole auto industry in Canada
    Auto industry not representing all industries in Canada

    Letting chrysler go is actually a better choice for the other D2, when they can get more market share when demand is less.
  248. Brian Lee from Toronto, Canada writes: "Royal City Pundit from Canada writes: Nothing like throwing good money after bad. So much for the myth that the CONservatives are prudent fiscal managers."

    If the Conservatives don't the Liberals will or NDP without a doubt and attached to that comes 9000 votes in Ontario. Regardless they are delaying the inevitable, as a tax payer the way I see it is Chrysler owes me a free Jeep that I'll never get. But I'll never buy from Chrysler ever again, try putting a price tag on that. Every other industry that's struggling should be making noise.
  249. Tax Me To Death from Regina, Canada writes: Why don't we take a dead horse to the race track, throw all kinds of money at it, and see if it will win the race.

    Isn't that what the tax payers have done? Isn't that what we are doing?

    I just can't wait to see what happens with GM. I feel so proud that we are spending our children's future.

    .... miss 5 bucks on your tax, and you go to jail. Get billions for a 'loan' and default on it and walk away.

    Go figure.
  250. Mike * from Shelburne, Canada writes: The stench just will not clear from my nostrils at the total stupidity burning the taxpayers with so called bailouts.Let us enshrine in the constitution no taxpayer money for private enterprise aswell as a fairer and simpler taxcode.
    I may be dreaming but please vote out these clowns who pushed into this mire of CAW intransigence and garbage carmakers.
  251. one fiftyeoght from Canada writes: Let us have a vote on this "Bailout" issues.

    Why the Taxpayers still have to subsidize the autoworkers, knowing this money will never be repaid!!!! There are more than 500,000 unemployed workers out there without help. They are only looking for $20/hr!

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