Is the $250 million Automotive Innovation Fund part of the bailout of the auto industry?
I don’t know where the terminology of bailout came from. It’s not one that we use. It’s an auto recovery plan. It really is assistance. It’s a loan. There’s not a grant involved. The fund certainly requires a significant investment by one of the auto firms. Ford, for example, is going to access the fund for about $75 million over five years. That has allowed Ford to make a $750 million investment in Windsor. This is a type of partnership we feel is necessary. We see that in the automotive sector, especially with GM, Ford and Chrysler, is that large vehicles are not the answer any more. It’s going to be smaller vehicles, green vehicles, hybrids, and those that can run off electric power. I really think we put ourselves in a position of saying, ‘That’s the type of partnership we need to make.’ Certainly the auto recovery plan requires of Ford and GM, before the end of February, to put forward what their restructuring strategy is going to be before they’re going to have the ability to acc
