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I cant believe I am saying this, but I think they should. I was against the bailout, but this would actually save thousands of jobs (and not just bail out golden-parachuted fat cats like those of AIG). And I would really hate to see two iconic, American names like Chevy and Ford go down. If they are allowed to die, a piece of America dies.
If anything, the bailout should take the form of financing after going into bankruptcy reorganization. The companies can shed their legacy burdens, and downsize to a more profitable level.
I want a bailout too.
How can anyone in their right mind respond No?The loss of the American auto industry would be the straw that breaks the camel's back. We're not talking thousands of jobs here folks we're talking millions - auto workers, administrative support and companies that supply the factories.Americans are a stupid people! You'll let Bush & Paulson bail out their high rolling friends but when it's time to save a complete industry you say no.Fools - I give up on you.
Yes!!!! I don't agree with how much money the government has given AIG, but when it comes to automakers in the U.S., - DO IT!!! These plants provide thousands of jobs for Americans. If we do not provide for them, the companies will either go out of business or move across seas. This would only make our economy look worse than it is now. They are asking for $25 million at the moment in comparison to AIG's 150+ billion dollars.
Hey, "we" didn't "let" Bush and Paulson bail out the banks - remember, we almost unanimously yelled "No!" - they just do what they're going to do anyway. That's how this administration has been - completely unresponsive to "we the people".I think the government should BUY GM and gradually steer the company to building small fuel efficient cars, electric cars, and eventually, railroad cars (yes, we really do need to build up our railways).
I think it's questionable to say that not bailing out these companies would truly result in these devastating losses. It's possible in the short term, I suppose, but there are more car companies in existence that just the big 3. The existence of many plants located state-side building other car brands, such as Toyota, suggest that those jobs might not truly be shipped overseas, or those assets lost for good.
"They are asking for $25 million at the moment in comparison to AIG's 150+ billion dollars."------------------------------------------------------------Huh??? They are asking for $25 Billion "to get them through the end of the year" ! So guess what? On January 1st they'll need 50 billion. It's like rearranging the deck chairs on the Titanic people, it's still going to sink because of poor decisions. We need to stop prolonging the inevitable and wasting what little money we have.
NO! No more money! I don't like what they are doing with my taxes now! Chapter 11, reorganize, back to business. Who bails out mom and pop when their business fails? Nobody! Providing economic help to the "Big 3" is only rewarding bad behavior and the all powerful labor unions.
"No, unlike the T, which has a reliable customer base, the auto industry is doomed."?
The government should buy GM, shed the unprofitable, unpopular brands here, and focus on a smaller, simpler line of fuel efficient vehicles. GM should look into markets which are wide open, where it could trounce the competition. It should be focusing on customer issues and figuring out what the customer wants them to produce, not what the competition wants to produce and what is most profitable.
Why is it, it's either bail them out or let them go down? There is no where in between? How about a tariff on foreign made vehicles whether they are made USA or not? Every other country protects its interest, so should we. Slap a $5000 dollar tariff on every foreign made vehicle. Then shut down the union. You and I can't afford to pay for their benefits.There done.... Next question...
CEO's and other over paid executives should take an 85% cut in base pay,toss the stock options and golden parachutes,sell off company jets and take a 75% cut in the their retirement plans and put that money back into the company. 40 years of mismanagement certainly does not warrant ANOTHER big 3 bailout!
Uh ... can I have some money?
I heard the average hourly wage at a big three auto maker plant is $30 per hour. Duh, there's your problem folks. While I don't think auto workers should work for peanuts, I'll do that job for $30 per hour and don't forget the benefit package. Compete or die!
NO BAILOUT FOR FAILED AUTO COMPANIES!!! These companies going broke won't eliminate nearly as many jobs as people claim. People will still drive cars, ergo people will still need to make cars. The problem is that the UAW has made domestic auto companies completely non competitive. They lose money on every car that they make!Jumpin Catfish: The cost for Toyota making cars in the US is $30 per hour. For GM, Ford, and Chrysler it is over $70 per hour. It is estimated that GM pays $4,000 per car built just on pensions for already retired employees. They need to sell cars for several thousand dollars more than Toyota, Honda, and the rest just to break even.
Step 1 - Chapter 11 on all three companies. Cut expensive "legacy" brands, get back to their roots. Make profitable cars. Step 2 - Tariffs on all foreign products. Not just cars. All foreign products. The USA is no longer a manufacturing country because of cheap imports, so let's earn some money off em. Step 3 - Get rid of the unions. The quality of American cars is down. The unions basically hold the car companies in a stranglehold. If they strike, the companies can't make cars and stop making money. Foreign automakers do not have unions, they make money and their workers are still taken care of. No Bailout. Let the free market work. Bailing out a company then claiming free markets do not work, is essentially the same as suppressing someone's opinion then yelling "Free Speech" when someone suppresses your own.
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