"Given the structure of the loan, once the federal government made the decision to write off their portion, there was no legal recourse for Ontario to further recover funds," she wrote in an email.
"This decision has no impact on our fiscal plan, as this debt was accounted for in the years following non-payment," said Hogeveen. The Chrysler loan write-off brings the province's total write-offs for the fiscal year ending March 31, 2019 up to $607 million.
News ford nation more like chrysler nation
News I am at a loss for words. There should be a fine when handing out my cash. How about not doing it anymore.
News Really!! 😝😝
News Meanwhile, car I bought new 4 yrs has “inherent” noise that they refuse to fix not there first 18 mth, a/c that works on and off same. But they take my tax $ to write off the loan. never again for this family DodgeDirt ChryslerCrap
News News this story doesn’t do a good job of explaining why there is anything to write off if loans were paid in full and in advance of due dates; or why there is no legal recourse to recover it.
News I wonder what kind of backhander Ford and the PCs got to push this through. Corrupt bastard. 🤬
News So they will spend 30million in legal fees to fight the feds on a climate change case which they would 100% lose, but won’t recover A/R from a large corporation?
News government loans to car companies needs to stop once and for all. the need to compete in the market or go under is the reality. thank God Ford will not do this. the liberal government does.
News I’m a tax payer in Ontario. And I do not approve of this write off. FiatChrysler_NA Chrysler MetroChrysOtt fordnation What does this car manufacturing place have to say to Canadians who paid them ?
News Wake up people! This is the plan all along with Lobbied Corporate Welfare. They take money out of your pocket and give it to a Corporation with no accountability for what it is for and ‘sell’ it as supporting the poor unemployed. SUCKERS NO MORE. Vote PPC against Pandering.
News Now do student loans.
News Fiat Chrysler reported USD$4.1 billion profit last year. Sounds pretty recoverable...
News What is wrong here? Ontario is writing off loan as uncollectible, but Chrysler says it paid off it's loans? What is truth? This is nothing more than a gift of taxpayer money to a large Corp.
News Privatize the gains, socialize the losses, our new era of capitalism....