History of Chrysler GMAC for Chrysler, potentially merging two of Detroit's "Big Three" automakers. These talks did not come to fruition, and were discontinued the next month. On October 24, 2008, Chrysler announced a 25% cut (5,000 jobs) in its salaried and contract workforce in November 2008. Michigan Gov. Jennifer Granholm announced that she, along with 5 other governors, sent a letter to Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke requesting emergency funding for the Detroit Big Three Automakers. On the same day, General Motors asked the Treasury Department of the United States for $10 billion to help restructure both
General Motors Canada General Motors Canada General Motors of Canada Company (), commonly known as GM Canada, is the Canadian subsidiary of General Motors. It is headquartered at the Canadian Regional Engineering Centre in Oshawa, Ontario, Canada. In the aftermath of the 2008 financial crisis, GM Canada received a combined loan commitment of C$3 billion of financial assistance from the federal and provincial governments amid declining sales. McLaughlin Motor Car Company was founded in 1907. Samuel McLaughlin and William C. Durant, respectively the biggest carriage builders in Canada and the United States, contracted for Durant's Buick to supply McLaughlin with power trains for