Tag Archives: Chrysler

Cheer up Brian, This *looks* like Good News

The bankruptcy signals that Obama is prepared to play hardball with holdout lenders rather than knuckle under to their demands and will likely set the tone for similar discussions with bondholders of General Motors Corp — which is now on the clock to restructure its operations by the end of May.

While Obama voiced his support for Chrysler and the deal with Fiat, he was pointed in his criticism of the investors who did not agree to this deal.

“I don’t stand with them. I stand with Chrysler’s employees and their families and communities,” the president said. “I don’t stand with those who held out when everybody else is making sacrifices. That’s why I’m supporting Chrysler’s plans to use our bankruptcy laws to clear away its remaining obligations.”

Why the oddly specific number? Why?

Two Quotes about Chrysler and GM that stick out:

“I know this is difficult,” Mr. Clement said. “I know this affects real workers in real towns and cities across Ontario.

and

CAW president Ken Lewenza has called Fiat’s proposal to cut labour costs at Chrysler Canada by $19 an hour an “unreasonable” demand and has said it is “not going to happen,” arguing the CAW is competitive with unionized environments in the United States.

Why $19 and not a Percentage?  That’s a strange way of doing things.  It’s not like “cut them by 5%”; which would be the normal way to approach cuts.

Something stinks there.  Is there anyone inside of Fiat who can break their wall of silence and pass along the skinny on this?

Also; this again:

“I know this is difficult,” Mr. Clement said. “I know this affects real workers in real towns and cities across Ontario.

If there is something that can be said about Harper is that Canada lives between Alberta and Saskatchewan.  That’s it.  The rest of the landmass that we think of as Canada is “the Rest of it” and is dismissed very easily by the Snow-Texans of the West.

Some Interesting Reading on Tony Clement too (National Post)