April 18, 2014 |
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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.
why not?compared to bailing out high finance types - this provides many more jobs & employment
why not?what industries (Halliburton, Bechtel et all) do you thinkhave benefitted from Cheney/Rumsfeld/Bush policies --heavy military industries.we all subsidized an unecessary W A R folks.
Nope, not after watching the Big 3 ceos beg and lie yesterday at the hearings. I was embarised to see them on live TV .Time to let them fail and file chapter 11. Get rid of the greedy ceos and the overhead and restructure. I also say make AIG give back the bailout money they have stolem from you and me as well. I am not paying taxes for those SOB`s to party on. I say shut down AIG today. Boycott anything to do with AIG and make them go down the shi-er...
s beg and lie yesterday at the hearings. I was embarised to see them on live TV .Time to let them fail and file chapter 11. Get rid of the greedy ceo
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.
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!
Over and over again, when I would get a auto mailing, I would call and ask if the dealership had any cars that get over 40mpg. They would laugh at me. I told them I would not be buying a car that didn't get at least that much. They thought I was a joker.I would write to the big manufacturers and tell them via email of my personal requirements for a new car. They had warning to build more efficient engines, more fuel-efficient cars. AND they didn't listen. They simply thought we would all buy what they had to offer, instead of offering what we all demand.Suffer greatly, auto industry. I will not cry for you.
Uh ... can I have some money?
i'm not opposed to providing them with grants & loans, but they have to be used in such a way as to change the directions of these companies. whether they all start building pod cars or skateboards... they aren't making money selling what they're selling now.and no, this money shouldn't come from the TARP bailout that occurred in October. that money is to be used to bail out the financial companies who are losing billions at the hands of people who had no right to purchase a home they couldn't afford.
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!
NO! All three US automakers should go the route of the airlines and file for Chapter 11 bankruptcy. Any assets of value will be acquired by Honda, Toyota, etc. The not-so-big 3 can then shed their onerous union health and pension obligations and, perhaps, become viable again. If not, we can still buy American made Hondas, Acuras, Toyotas and BMWs.
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...
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.
"No, unlike the T, which has a reliable customer base, the auto industry is doomed."?
No, unlike the T, which has a reliable customer base, the auto industry is doomed. Have them file for bankruptcy, but NO bailout. Until jobs come back to the States, and incomes are balanced in the middle again, NO BAILOUT.
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.
yes..only if they give me enough to get my kid through school..the autie bailout..two years undergrad left..and enough to get her through law school..?? Lot cheaper AIG, plus we promise to not have a party with the money.
"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.
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.
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).
only they give me a few grand first
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.
for a city that was so eager to bail out a failedbus system this amuses me.52 million bucks the next ten yearswhat a horriffic waste of money
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!!!But, only for use of keeping plants open on American ground with American workers.Do you people still want to have a middle class? Or, would you like to be Europe? Over there it is all rich (as in you got your money from daddy) and poor (as in poverty) with no one in the middle making $50,000-80000 house hold income.But, you know, blurting out no is probably an easier response, huh?
I want a bailout too.
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 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.
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