Canada offers Big Three $3.39 billion

Posted: Dec 20, 2008
Filed under: Chrysler, Ford, GM, Industry News

It seems like Canadians are ready to chip and help out our American automakers. The federal and Ontario governments have announced a $3.29 billion bailout package for the Canadian subsidiaries for Detroit’s Big 3 automakers.

Daton McGuinty, Ontario’s Premier, said that his province will provide up to $1.3 billion ($1.07 USD) while Ottawa will provide a total of $4 billion Canadian dollars in renewable loans payable to the Big 3’s Canadian subsidiaries.

Just like the $17.4 billion in loan provided by the White House to General Motors and Chrysler, the Canadian bailout comes with limitations.

Source: Detroit News

Share |  Email  Print |



  • HMMM
    How bout a little incentives going back to the ordinary Canadian Citizens for their tax dollars at work ?

    After all the tax payers are the true lenders here.
  • "HOW TO FUND A SMALL AMERICA BUSINESS" to consider for investment

    Small business in America must raise capital for start-up or expansion. Limitations on how they can do that mainly centers around NOT being able to advertise to the public when selling private unregistered securities. The SEC 504 Reg D and other "Rules" don't allow it. Selecting this "Exemption" from registration also means that they cannot advertise in any manner to find potential investors.

    Meanwhile, trying to sell stock in a small private venture is nearly impossible anyway if you have only a hand full of relatives and friends with capital and an open mind to risk.

    Therefore, I propose that this method of raising capital by offering stocks, bonds or other securities, must be opened up further so that small businesses CAN advertise to reach a wider investment audience cost effectively and quickly.

    To do so will greatly increase capital (NOT LOANS) flowing into small American businesses that will be spent in America generating new jobs, purchasing materials, stimulating the real estate market through rentals or ownership, R&D, manufacturing new products and leading to enrichment of owners and investors.

    No amount of governmental regulation protects the public from fraud or risk. The SEC does not "Approve" or "Disapprove" any public offering anyway. "Public" registrations are often so confusing that the average investor never knows what they are buying or investing in anyway. Given the accuracy problem, data can change the next second after the information has been released. No small business will be represented by an investment house (few are left anyway) and they want only multi-million dollar firms for IPOs.

    So, I say: "Why not let the buyer do as they please?" They may choose to invest in unregistered private stock and/or other securities issued by American businesses directly, without outside reps or governmental restrictions placed on them that do not allow advertising.

    I have found that people in America will invest in small American businesses if they ever have a chance to hear of or about them.

    Reaching great numbers of potential investors is immediately possible through media; mailing lists, television, newspapers and magazines.

    So, new and existing businesses can get going FAST - without governmental concern.

    Basic criminal and civil laws are in place already as protection. The INVESTOR must do their homework and make the decision. After all, it is their money at risk, so it is their decision. There are RISKS in everything undertaken in life as well as in business. There are no guarantees on anything these days no matter how large a business is or how long it has been in business.

    My problem is reaching potential investors without using any form advertising. It seems to me to be "over-controlled" by the SEC and State Regulators simply to support a network of "GOOD OLE BOYs" investment houses offering only their "STUFF". We have all seen where this activity has gone not only in past decades of cycles of stock market ups and downs as well as in the recent fatal implosions.

    Get this message out and change the way small business gets money to start-up or grow.

    Give the small business people of America a chance to compete with capital they deserve without restrictions for a change.

    Bill Myers (A small businessman since 1967) bill@vdoaktv.net
blog comments powered by Disqus