TORONTO - The head of the Canadian Auto Workers says his members are nervously awaiting the Obama administration's restructuring plan for the auto industry.
Ken Lewenza hopes U.S. President Barack Obama's announcement today will answer questions that have left his members sitting on pins and needles.
Lewenza says Canadian workers are trying to gauge what the pending departure of General Motors CEO Rick Wagoner will mean for the company's future.
Obama administration officials said Sunday the White House asked Wagoner to step down immediately.
Lewenza says the degree of White House involvement in GM's affairs may explain why his union is having trouble reaching a labour concession deal with Chrysler.
Lewenza said twice last week a deal was close, and now things are starting to add up on why talks then failed with two sides farther apart than when the started.
"I think (Monday) will be the key to answering a lot of unanswered questions, but they're certainly starting to add up now," Lewenza said.
Sources told the Associated Press that the Obama administration plans to give General Motors enough government aid to restructure over the next 60 days. Chrysler LLC will get up to $6 billion and 30 days to complete an alliance with Italian automaker Fiat SpA.
Two people familiar with the plan said Sunday the administration does not feel Chrysler is viable as a stand-alone company. Under the plan, the government would provide up to $6 billion to forge the alliance between Chrysler and Fiat. However, Chrysler would not receive additional federal aid if the companies failed to reach an agreement or find an alternative plan for viability.
The officials said the U.S. government will demand further sacrifices from the automakers and bankruptcy would still be possible if they fail to restructure.
The officials spoke on condition of anonymity because they were not authorized to make details public.
