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4- The Oakville Beaver, Wednesday December 17, 2008 www.oakvillebeaver.com Ford suggests alternatives to government bailouts Continued from page 1 Even the $3.4 billion stimulus package the federal and provincial governments are prepared to provide for the Big Three in Canada, if America puts money forward first, is not expected to bring a halt to the Oakville Ford plant's shutdowns. In a news release issued by Ford, David Mondragon, president and CEO, Ford Motor Company of Canada, was quoted as saying: "At Ford of Canada, we are well on our way to transforming our company and do not need immediate access to government loans. Instead, we have asked the government for a "stand-by" line of credit to be used only if the current economic crisis worsens." "This money is just to carry them over the uncertain times with the economy," said Beck. "I don't think it will make any difference as far as the shutdowns are concerned. If the consumers aren't buying the products, nothing will change." While others point fingers elsewhere, Beck faults Canada's trading practices, noting that while foreign automakers can sell their products in Canada, Canada cannot do the same in many of these foreign markets. MINI.CA Beck said in this time of uncertainty, one thing that is certain is that the Big Three are going to need more money than the $3.4 billion the governments have come up with so far. Ford initially requested a $2 billion `stand by' line of credit while the Big Three requested a total stimulus package of $6.8 billion. "This is just for the short term," said Beck. "There's no question they are going to have to go deeper and give more money to make sure that GM and Chrysler survive. Ford has said it won't need that money until later on in the year if the economy keeps slipping the way it's been slipping." In the company release, Mondragon suggested other ways the government can stimulate the auto industry. "By providing support to the auto credit market, the government would help the more than 1 million Canadian vehicle buyers who rely on financing each year. Other actions could include tax holidays for new vehicle purchases and incentives to encourage consumers to trade-in older vehicles and buy new, lower-emission vehicles," stated Mondragon. The 2009 MINI. $0 down. $0 first payment. $0 security deposit. $299/Month. (it's either a great deal, or a whole lot of typos.) Now with more standard features like multifunction steering wheel with cruise control · Automatic Climate Control · Dynamic Stability Control · 16" alloy wheels · Fog Lights · Panoramic glass sunroof · Heated front seats $ 0 $ 0 down 1st month payment 0 $ 299 $ security deposit * /MONTH OFFER ENDS JANUARY 4th, 2009. visit your local mini RD., OAKVILLE 905.469.6220 MINIOAKVILLE.COM 2454 SOUTH SERVICEretailer or mini.ca today Lease rates are those offered by MINI Financial Services only on approved credit (OAC). Lease example: MSRP for a 2009 MINI Cooper with 6 speed manual transmission and Comfort Package is $26,300; at a lease rate of 6.9% APR and a term of 48 months with $0 down ($0 down is OAC), $0 Security Deposit, the monthly lease payment is $299.90. Offer requires retailer participation. A personal property security registration charge (up to $90) and all taxes are extra and required upon lease signing. Transport and preparation charge of $1,595 and Retailer administration charges (if any) are additional. Total obligation is $15,990.20 plus tax. Additional options, taxes and insurance are extra. The residual value of the vehicle at end of term is $14,728. Annual kilometres limited to 20,000. $0.15 per excess kilometre. Excess wear-and-tear charges may apply. Delivery must be taken by January 4th, 2009. Offer is subject to availability and may be cancelled or changed without notice. Vehicle shown is with optional extras. Certain conditions apply. Please see your MINI Retailer or visit MINI.CA for full details.