It’s been nearly a decade since General Motors Corp. cranked out Chevrolet Camaros and Pontiac Firebirds at its Ste-Thérese assembly plant just north of Montreal. The factory has since been torn down to make way for a vast commercial complex called Faubourg Boisbriand.
[…]
But a curious thing about the facility lingers like a ghost from a bygone era: An outstanding $110-million interest-free loan from the Quebec government to GM that the automaker has yet to pay a penny on.
“An outstanding $110-million interest-free loan from the Quebec government to GM that the automaker has yet to pay a penny on.”
Outright lie! The Queerbec gubermint does not have,nor has ever had,any money of their own. That is a have-province,ROC debt,that when the ROC (i.e. AB and Sask) separate,we should force the remaining puke Ndpeer/Lieberal provinces/territories to pay back!
Come on WRP/Danieele.
By your headline I thought you were talking about the latest brain cramp of Alison Redford who wants to use taxpayers money to fix old clunkers so they don’t pollute so much.
Sate capitalism, because they care more.
Good thing they didn’t hang on to the plant to make new Chevy Volts. Undoubtedly there’d have been another subsidy in the works. I’m guessing the provincial government wasn’t smart enough to put a lien on the place. Hey, this sh!t is easy to do/justify when it’s not your own money.
I don’t get it. Old GM went bankrupt, New GM took over. Is someone in Quebec in denial? If the last tenant in your apartment owed a debt and moved, do you now owe it?
From wiki
“The remaining pre-petition creditors claims are paid from the former corporation’s assets.”
What are they looking at? 10 cents on the dollar?
No worries . . . Quebec will just whine on about the evil English and demand Ottawa cover their losses.
That’s how confederation rolls . . .
Maybe if government bureaucracies and their buddies the CAW didn’t think up ever-compounding regulations and labor demands that increase the cost of manufacturing an automobile, the car companies could finance factories and assemble their product out of their own working capital.
I blame Alberta!
Clearly Harper’s fault.
Scar’s got it right.
General Motors went Tits-Up.
Unless the Queerbec Government was a secured or preferred creditor, they are screwed.
Normally unsecured creditors are left to suck hind nipple, which in most cases, is dry.
The loan was a bribe by the Quebec govt to get the plant in the first place in St. Therese. It was not GMofC’s first choice for the new plant. GM of Canada didn’t go bankrupt, btw, the American corp filed. Govt of Que would have been a preferred creditor in a proceeding.
Posted by: Scar at January 1, 2012 5:33 PM
“I don’t get it. Old GM went bankrupt, New GM took over.”
GM Canada never went bankrupt, only in the U.S.
“….fact that the Canadian operation never filed for bankruptcy.”
http://www.theguardian.pe.ca/Living/Motoring/2010-03-09/article-1298390/GM-Canada-dealerships-not-given-option-to-stay-open-like-U.S.-operations/1
$110 million? Chump change. Freeloading welfare bum farmers have leeched over $30 Billion from public coffers since dear leader Steve Harper has been PM.,with nary a thank you let alone payback.
We don’t need no stinkin’ welfare bum farmers.
phil, you are a very stupid troll, name the freeloading policies/programs for farmers, put a name on the welfare program you bleat about, as you fill your pie hole with food preferably.
Phil a quote for you from Eric Hoffer:
Commitment becomes hysterical when those who have nothing to give advocate generosity, and those who have nothing to give up preach renunciation.
NahNah NaNa, hey Quebec, good bye!
” Faubourg Boisbriand ”
A pungent product with a metallic aftertaste. It is mainly consumed by those who receive it at little cost.
Is Canada better with Quebec,we need a referendum on this NOW !!!
Dollars to doughnuts,Quebec would vote overwhelmingly to stay in Canada if their allowance was threatened. I say f’em next time. I’ll move to Quebec just so I can vote to separate.
name the freeloading policies/programs for farmers, put a name on the welfare program you bleat about, as you fill your pie hole with food preferably.
As I eat food that I paid for with money that I worked for I see that Mr Google reveals that federal and provincial dept. of agriculture spend in excess of $5 billion per year, every red cent wasteful welfare for freeloading welfare bum farmers like yourself.
Happy new year, SDA. May I suggest a new year’s resolution? Namely, stop feeding the trolls. You’re not going to change their mind, and will only give them a reason to keep posting their bomb-throwing nonsense.
phil’ did your mother drop you on your head when you were 6 months old?
I suspect that Phil is no longer in tents because first it got too cold and then the police burned the tents.
Sure phil…lead us to the leftie Google. C’mon. Surely even a troll like you can learn how to give an actual link. Or do you not have one? And don’t try the “if you want it,find it yourself” line.
Why the hate the farmers??? They remind you to much of honest workers?
No,Phil is no longer intents because he couldn’t keep his wigwarm.
I’ll be here all year,don’t forget to tip your server.
Don’t hate farmers per se, just welfare bums and right wing hypocrites…….since most plough jockeys qualify on both counts, I guess I do hate farmers.
Then:
President Obama told the nation: “Let me say this as plainly as I can.
If you buy a car from General Motors,
you will be able to get your car serviced and repaired just like always.
Your warranty will be safe. In fact, it will be safer than it has ever been. Because starting today, the United States will stand behind your warranty.”
Now:
‘New General Motors Co.’ is seeking to dismiss a lawsuit over a suspension problem on more than 400,000 Chevrolet Impalas from the 2007 and 2008 model years, saying it should not be responsible for repairs because the flaw predated its ‘Old GM’ bankruptcy.
The lawsuit, filed on June 29 by Donna Trusky of Blakely, Pennsylvania, contended that her Impala suffered from faulty rear spindle rods, causing her rear tires to wear out after just 6,000 miles.
–
Good luck getting that $110 million,
bastards won’t even pay for suspension damaged tires..
Buy a (fire sale) Volt and stop making house payments!
phil, your choice is clear. If you eat anything other than Soylent Green, you are a flaming hypocrite, too.
400,000 Chevrolet Impalas from the 2007 and 2008 model years, saying it should not be responsible for repairs because the flaw predated its ‘Old GM’ bankruptcy.
If the US government had to guarantee everything that went wrong on Impalas they would be bankrupt. It’s no mystery to me why GM went Ts-up.
Outright lie! The Queerbec gubermint does not have,nor has ever had,any money of their own. That is a have-province,ROC debt,that when the ROC (i.e. AB and Sask) separate,we should force the remaining puke Ndpeer/Lieberal provinces/territories to pay back!
Come on WRP/Danieele.
Posted by: Justthinkin at January 1, 2012 4:48 PM
Perfect assessment Justthinkin.
Phil, can you, then, afford to pay the real cost of food? We’re all about to find out, in the not too distant future, that the answer is no…
“The lawsuit, filed on June 29 by Donna Trusky of Blakely, Pennsylvania, contended that her Impala suffered from faulty rear spindle rods, causing her rear tires to wear out after just 6,000 miles.”
Sorry, not buying it, either.
So Phil, then you would have been one of the folks in support of the recent changes to the CWB?
We can then expect the same if the current govt also does likewise to the other supply management in dairy and eggs right.
The loan of $110 million to G.M.in Que. was at “Note Well” 0.00% interest, with 0.00 collateral, with a term untill 2017! Kind of reminds me of my mortagage – not! G.M. insists it will repay the loan on the due date of 2017.
phil, your choice is clear. If you eat anything other than Soylent Green, you are a flaming hypocrite, too.
How so?
Phil, can you, then, afford to pay the real cost of food?
I can and do, skippy.
So Phil, then you would have been one of the folks in support of the recent changes to the CWB?
We can then expect the same if the current govt also does likewise to the other supply management in dairy and eggs right.
I couldn’t care less how farmers market their product. I do care that they get their freeloading, hypocritical welfare bum mugs out of the public trough.
Right now, as a consumer, I have a choice in whether or not to support supply managed subsidies. As long as supply management farmers don’t climb onto the freeloading, welfare bum farmer gravy train, I could not care less under what system egg and dairy producers operate under. Let the free market reign. We don’t need no stinkin’ freeloading, welfare bum farmers.