Monthly Archives: April 2009

The Canadian Auto Workers Union (CAW) is “optimistic” that restructuring decisions regarding Chrysler represent the beginning of a brighter future for the new company. The union said that the new cost-saving collective agreement that it recently reached with Chrysler will remain intact.
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The province of Ontario is contributing loans to Chrysler worth $1.258 billion, partnering with the Canadian and American governments to restructure the automaker.
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The U.S. federal government has announced that it will lend up to US$6 billion to a new alliance of Chrysler and Fiat, following restructuring that will include Chrysler’s filing for bankruptcy protection. Continue reading →

GMAC Financial Services will provide automotive financing products for Chrysler dealers and customers. Continue reading →

Ontario drivers who have shed their cautious winter driving habits are warned that 2009 will be a year of “increased accountability,” according to the Ontario Provincial Police (OPP).
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Ontario has toughened its impaired driving laws, with new regulations that take effect May 1, 2009.
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Subaru Canada has announced it will continue its sponsorship role in a breast cancer fundraising program. The automaker will again partner with the Royal Canadian Golf Association (RCGA) as the presenting sponsor of Golf Fore the Cure.
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Honda Aircraft Company has revised the delivery schedule of its all-new HondaJet light aircraft, as economic challenges in the global aerospace industry have delayed component deliveries.
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Michigan-based auto systems supplier TRW Automotive Holdings has opened a new test track in northern China. Continue reading →

Chrysler LLC has reached an agreement that will see it file for bankruptcy protection and form a new company through a strategic alliance with Fiat SpA. The company said the move is the result of a comprehensive restructuring plan agreed to by many of its stakeholders, including unionized Chrysler workers in Canada and the U.S.
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Members of the United Auto Workers Union (UAW) working at Chrysler have ratified a settlement agreement with Chrysler, Fiat and the U.S. Treasury. The contract requires the UAW to accept Chrysler equity for half the US$10.6 billion obligation for a retiree health-care trust, giving the UAW 55 per cent ownership in the proposed Chrysler-Fiat partnership.
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