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Forty minutes past the hour back live in the newsroom -- know General Motors is back on the road emerging from bankruptcy in just forty days the CEO calling.
It a second chance and promising a leaner greener auto maker.
But the new GM.
He's already getting blasted.
Because after taking tens of billions of American tax dollars GM is now dropping its contract.
-- its only US based metal supplier that Stillwater mine but there's more here.
It's keeping its contracts with suppliers in South Africa.
And in Russia.
With us on the phone now -- the CEO and president of Stillwater mining frank McAllister.
And frank let me just for the edification of her audience.
Your company mines palladium which is used in catalytic converter join your biggest contracts -- General Motors you've been negotiating now for months.
And now the eleventh hour General Motors -- you -- the curb.
And continues contracts with the Russians in the south Africans.
Straight that's correct essentially what's happened here is that we've had a -- -- bit of business partner -- General Motors since 1998.
And you're quite correct we've been.
We have a multi year supply contract of which exists right now and obviously under the bankruptcy rules they have every right to two -- -- our contract but.
To keep the contracts going to the south Africans and the Russians.
Is just simply doesn't make a lot of sense.
-- got heavier rough near the regular guy are you are you charging too much money -- fairness GM's looking up for their bottom line but are you charging too much money was your contract too much to look more expensive than the Russians in the south Africans.
Don't know exactly what their contracts read our contract does have -- prices and it which.
If the price falls -- there it is above market but during all of our discussions and even after we were notified that they would reject the contract we were told that these were not the issue.
They simply -- that we have because we're downsizing we simply don't need your palladium.
So this could cost you between five and thirty million dollars -- had a lot of workers did the jobs depend on this in -- you're taking is that that American tax dollars are being used against you.
That's exactly what we're we're worried about treason.
-- and -- if that happens when you talk about jobs frank how many jobs and in this whole thing.
We we did -- congressional investigation it was all about jobs all about jobs and now how many jobs are we talking about it this company goes south.
We have 14100 people working here we -- we've already downsized -- -- about 20% our guys are doing really good in fact we will do well.
In the second quarter but the issue is is what this is actually going due to do -- is going.
Forward and I gotta go here frank but Montana governor.
Brian Schweitzer is irate over this anything he can do any help do you think you'll get down the -- -- -- done -- -- -- ten seconds he stepped in to help us always can and I don't know what it'll take place the world will see we just wanted to talk with General Motors -- more -- frank -- frank good have you sir thank you thank you --
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