How come Ford didn’t need a bailout to keep afloat but GM and Chrysler apparently were about to sink? GM and Chrysler wheels of management and their fine automobiles will keep on turning thanks to a 4 billion dollar emergency loan offer from the Canadian government today.
GM is said to be offered 3 billion and Chrysler 1 billion of this aid package. There are conditions attached to these monies of course, including limits on executive compensation. Why would executives of companies on the brink of going down the tube expect compensation on monies received as a loan from the taxpayers of Canada? I have no answer for that one. Give the execs at Ford a bonus instead, they seem to have earned their money by staying afloat!
This news must certainly be exciting for the thousands of people employed in the auto industry. We all hope this financial aid package will help get this sector of business back on track for the long term.
…..Doug T
Ford GM Chrysler Bailout
