Original:  Whereas a United Auto Workers negotiator has said, “I don't see how the UAW will do anything until they see what the bondholders will give up ." The Obama administration is looking toward bankruptcy proceedings for the automakers , "as a mechanism to help them restructure quickly and emerge stronger.
Revised:  Whereas a United Auto Workers negotiator has said, “I don't see how the UAW will do anything until they see what the bondholders will give up ." GM has until the end of May to restructure its company to receive up to CA$7.5 billion. As part of the companies restructuring, General Motor’s chief executive Rick Wagoner was replaced Sunday with Fritz Henderson, the current chief operating officer. Henderson spoke out on Tuesday that GM has submitted a restructuring plan which would close five plants, and this may be increased to meet the requirements for financial aid. He is in full compliance with Obama's auto task force to seek bankruptcy if GM cannot negotiate with their unions, bondholders and others. GM recently brought forward the "GM Total Confidence" program providing consumer purchase protection for customers who lose their job for economic reasons within the first two years from purchase. As a result of Chrysler's restructuring announcement in Canada, GM's Canadian vehicle sales volume fell only 17.3\% compared to 2008, an increase from the previous month. GM must reduce some of its which include its pensions and union health care costs. A part of GM's ailments arose from investing in supplying truck and during an economy of high gas prices when consumers were demanding fuel efficient vehicles. 2009 , , is hoping that the CAW will support the restructuring process and re-negotiate their agreement. Whereas a negotiator has said, “I don't see how the UAW will do anything until they see what the bondholders will give up." The Obama administration is looking toward bankruptcy proceedings for the automakers, "as a mechanism to help them restructure quickly and emerge stronger. [It will] quickly clear away old debts that are weighing them down. What we are asking is difficult. It will require hard choices by companies. It will require unions and workers who have already made painful concessions to make even more. It will require creditors to recognise that they cannot hold out for the prospect of endless government bailouts." said Obama. The auto parts suppliers and IT software exporters in India have already been affected by the declining auto sales. GM and Chrysler software contracts provide US$300 to 350 million a year to vendors in India. As well these two major automakers usually award US$1 billion contracts to auto parts suppliers. "We are worried and closely watching the developments in the US to gauge the impact. The decline in auto sales in the US has already hit the order books of Indian suppliers," said a Delhi auto parts supplier. "Going forward, the industry will undoubtedly be smaller, but if our efforts are successful it will be viable and it will support good jobs for Canadians," said Clements. , Congresswoman put forward the CARS act which provides a US$3,000 to 5 , "as a mechanism to help them restructure quickly and emerge stronger.
Edit intent: meaning-changed