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Subcommittee on the Automotive Industry in Canada committee  We have about 5,000, so maybe less than 10%.

March 10th, 2009Committee meeting

Jerry Chenkin

March 10th, 2009Committee meeting

Jerry Chenkin

Subcommittee on the Automotive Industry in Canada committee  I'm sorry, I'm not involved in the manufacturing side.

March 10th, 2009Committee meeting

Jerry Chenkin

Subcommittee on the Automotive Industry in Canada committee  The only answer I can give you to that question is that every time we have an opening, there's a lineup of people at the door. So we have no shortage of people looking to work at the factory.

March 10th, 2009Committee meeting

Jerry Chenkin

Subcommittee on the Automotive Industry in Canada committee  I don't think we want to make that public knowledge.

March 10th, 2009Committee meeting

Jerry Chenkin

Subcommittee on the Automotive Industry in Canada committee  I don't believe we're looking for any money. I think what we're looking for is the government to provide the security or to alleviate the risk for us issuing commercial paper in the markets. Honda has a double-A rating. Our rating has not deteriorated. Our captive finance company is as profitable and as capable as it has ever been.

March 10th, 2009Committee meeting

Jerry Chenkin

Subcommittee on the Automotive Industry in Canada committee  I'm not a financial expert, but I could say that all we're looking for is for those funds to be used in the best way possible to open up the credit markets.

March 10th, 2009Committee meeting

Jerry Chenkin

Subcommittee on the Automotive Industry in Canada committee  I think it's accessibility that's the issue.

March 10th, 2009Committee meeting

Jerry Chenkin

March 10th, 2009Committee meeting

Jerry Chenkin

Subcommittee on the Automotive Industry in Canada committee  It's very difficult for us to determine that, because we have a huge number of suppliers in Canada and the U.S. Of those suppliers, we're not sure what percentage of their business Honda represents. It's very, very difficult for us to judge what might happen.

March 10th, 2009Committee meeting

Jerry Chenkin

Subcommittee on the Automotive Industry in Canada committee  We have been adjusting for the last six months. When we saw this problem coming, we immediately reacted. This is one of the advantages we have as Honda. We can adjust production very quickly in all of our plants across North America, so our inventory situation, while not perfect, is in actually quite reasonable shape.

March 10th, 2009Committee meeting

Jerry Chenkin

Subcommittee on the Automotive Industry in Canada committee  We have not laid off any of our permanent workers, both at Honda Canada and at our factories. The only adjustments we've made are with temporary or contract associates, where we have not renewed their contracts as they've come up.

March 10th, 2009Committee meeting

Jerry Chenkin

Subcommittee on the Automotive Industry in Canada committee  We don't agree and we're not asking for anything, but we understand why it's necessary.

March 10th, 2009Committee meeting

Jerry Chenkin

Subcommittee on the Automotive Industry in Canada committee  I think we'd be remiss if we weren't studying the various potential issues we'd be facing if that were to happen. Of course, we hope it doesn't, but we need to protect our supply chain.

March 10th, 2009Committee meeting

Jerry Chenkin

Subcommittee on the Automotive Industry in Canada committee  One of the fundamental principles of Honda, as I mentioned earlier, is to create blue skies for our children, so we have always believed very strongly in any activity that will help the environment. This is not new; it's not a bandwagon we're climbing on. This is something Honda was talking about 60 years ago, when he started the company.

March 10th, 2009Committee meeting

Jerry Chenkin