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Lets see....
1). The auto industry is failing because people have lost thier jobs or fear losing thier jobs and are not purchasing vehicles.
2).Then they get this bailout and on top of it promise to cut more jobs.
Who cares if GM fails, it is thier own fault, how dare all these companies get handed this money and still cut workers jobs instead of creating jobs.
It makes me sooo mad that they see the handwriting on the wall yet refuse to take appropriate action to help this economy. These top executives are going to be able to line thier pockets even deeper before jumping ship.
tcar509
Lets see....
1). The auto industry is failing because people have lost thier jobs or fear losing thier jobs and are not purchasing vehicles.
2).Then they get this bailout and on top of it promise to cut more jobs.
Who cares if GM fails, it is thier own fault, how dare all these companies get handed this money and still cut workers jobs instead of creating jobs.
It makes me sooo mad that they see the handwriting on the wall yet refuse to take appropriate action to help this economy. These top executives are going to be able to line thier pockets even deeper before jumping ship.
tcar509
One must look at this issue in light of the cause and effect of trade:
1. US lowers tariffs.
2. US loses its industrial base
3. US becomes a 3rd world country.
It's all about cheap labor and screwing up the environment- GATT requires both to be sucessful.
FYI, even the Japanese (who have a closed market) autoworkers make 17% less than do ours.
the bailout is another idiotic idea, as are all of the bailouts. GM executives told investors that the investments in US plants pledged by the company—the supposedly iron-clad job security provisions hailed by the UAW—were entirely contingent on market conditions.
GM Vice Chairman and Chief Financial Officer Fritz Henderson said that over the next four years the company could move 56,000, or 75 percent, of its current UAW workers into retirement.
they are not even guaranteeing that they will keep the jobs in this country, not to mention the jobs that they will eliminate. i don't even see how this bailout would protect the job security of the workers. maybe the bailout should be contingent on market conditions!
I was born north of Detroit, and now live in the Greenville, SC area. Interesting how BMW in Spartanburg, SC can manufacture enough vehicles to the point where they export 40% of their production back to Germany. Yet the "big 3" can barely survive. Plus, shouldn't it be the "big 2". I don't understand why Daimler-Chrysler would even be considered part of a bailout for the American auto industry.
I have many family members who have worked for or currently work for Chrysler and/or GM. One of them, who currently works for Chrysler, said it was nearly impossible for anyone to get fired until Daimler came into town.
The moral of the story: What is the difference between a GM plant, and BMW's plant in South Carolina? Unions.
I could use $35 Billion too for free send it my way. It is a bailout. The Big 3 model and the UAW model does not work. Let them go through Ch.11 get rid of the current management...scale down, shut down, and liquidate plants that are not profitable.
GM should only keep Chevrolet & Cadillac, get rid of the other me too brands. focus on a few models like Honda and Toyota.
Ford should get rid of Lincoln, mercury and anything else they own and Make FORD!
Chrysler....fire sale go out of business...please.
Many, many companies have failed before and will fail. Stop putting band aids on them. I wish i had benefits like the UAW....but I live in the real world. No way the avg. UAW worker is worth what his benefits are.
i hope that taxpayers understand that this is a total of 50 billion to these companies, because of the $25 billion in loans that Congress has already approved to help American automakers increase green research, and the additional $25 billion in loans the American industry is seeking this week to cope with a hobbled economy. (not to mention the money that taxpayers will be paying the auto finance portion of the first bailout bill).
new revision: Cha-ching. Cha-ching. Cha-ching. The bill for the auto bailout expanded from $25 billion to $34 billion today. Groveling is hard work, so make that 59 billion. (not counting the auto finance arm).
The moral of the story: What is the difference between a GM plant, and BMW's plant in South Carolina? Unions.
The difference is that people in the south are willing to work for extremely low wages. Unions should represent workers all over the US so that they do not get exploited.
i hope that taxpayers understand that this is a total of 50 billion to these companies,
Most thinking Americans do understand. These companies need to restructure under Chapter 11 if they are serious about survival. I see no concessions from the unions or suggestions by managment that would allow these companies to do anything more than possibly persist a few more years.
If this Democratic Congress does give GM, Ford and Chrysler a bailout to stave off their self-inflicted terminal disease, the additional requirements placed upon the automakers by the government will surely speed their demise. Sadly, quality auto manufacturing in America belongs to past generations. Throwing tax dollars at greedy and inept companies is extremely bad business and I will not likely forget it when I go to buy another new car or truck.
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Throwing tax dollars around is bad business...
