GT500-07 Posted November 17, 2008 Report Share Posted November 17, 2008 As Congress debates legislation to help struggling automakers on Monday, many Americans said they were uneasy with the plan, arguing that while it may save jobs, it would reward companies for pursuing bad business practices. In interviews from New York to Los Angeles, everyday Americans said the proposed $25 billion rescue plan was unfair and said it would make it harder to reform U.S. automakers. "They need to restructure. If they get bailed out they are not going to do it," said Eric Smith, a paint contractor interviewed in Chamblee, Georgia, on the outskirts of Atlanta. http://news.yahoo.com/s/nm/20081117/us_nm/...ailout_opinions Link to comment Share on other sites More sharing options...
rpretzel Posted November 17, 2008 Report Share Posted November 17, 2008 I'm generally against any bailout. I feel companies/industries will be stronger if the end if the government stays out. Capitalism means survival of the fittest. If you can't cut it, you're gone. Yes, the Big 3 are in trouble, and there could be significant loss of jobs, but throwing money at them is not going to solve the root problem. We may see one or more bankruptcies, but the Big 3 aren't going anywhere. A massive restructuring could be very good for these companies in the end. Link to comment Share on other sites More sharing options...
ingram4868 Posted November 17, 2008 Report Share Posted November 17, 2008 I say give it to them in small amounts with measurable timetables attached. Like submit your plans to restructure, cut costs, drop lines like Pontiac, GMC, and Mercury. If there plans do not achieve agreed upon milestones then no more money for you. I'd also like to see their retirement plans removed from the control of the Company so if they do go under they won't impact the retirees. Link to comment Share on other sites More sharing options...
GT500-07 Posted November 17, 2008 Author Report Share Posted November 17, 2008 Toyota, BMW, Hyundai Workers' Senators Oppose Rescue Senators from southern states with factories owned by Asian and European car manufacturers oppose a bailout of U.S. automakers, saying the industry can thrive without General Motors Corp., Ford Motor Co. and Chrysler LLC. Republican Senators Richard Shelby and Jeff Sessions of Alabama, and James DeMint of South Carolina, are among lawmakers trying to derail Democratic plans, supported by President-elect Barack Obama, to provide at least $25 billion in loans to the three U.S. companies. http://news.yahoo.com/s/bloomberg/20081117..._lB99tpkwJg.3QA Link to comment Share on other sites More sharing options...
David Hawkins Posted November 17, 2008 Report Share Posted November 17, 2008 I just wander how much CRAP they will tack on to the Bail Out Bill for them.................. More Wooden Arrows....? Link to comment Share on other sites More sharing options...
Boss Doctor Posted November 17, 2008 Report Share Posted November 17, 2008 I just wander how much CRAP they will tack on to the Bail Out Bill for them.................. More Wooden Arrows....? Nope! Rubber chickens. Link to comment Share on other sites More sharing options...
GT500-07 Posted November 18, 2008 Author Report Share Posted November 18, 2008 Big Three beg for government help as prospects for bailout bill fade on Capitol Hill Detroit's Big Three auto makers are begging Congress for a $25 billion government rescue, while the legislation clings to life support on Capitol Hill and top lawmakers and the White House suffer from bailout fatigue. http://biz.yahoo.com/ap/081118/congress_autos.html Link to comment Share on other sites More sharing options...
DutchGT500 Posted November 18, 2008 Report Share Posted November 18, 2008 Isn't bail out illegal. Here in the European Union companies get big fines when governments help out. On the other hand banks are not in a hurry to finance. They are in trouble too. Link to comment Share on other sites More sharing options...
sharabi Posted November 18, 2008 Report Share Posted November 18, 2008 What is the big deal on auto makers bail out....is it ok for 100+billions for the f@@king banks to bail out....why they do not get the ranting the auto makers are getting? Link to comment Share on other sites More sharing options...
ingram4868 Posted November 18, 2008 Report Share Posted November 18, 2008 This entire world economy sucks right now. I've sure changed my mind about totally unregulated business. BTW, how come we're not seeing CEO's and Board of Directors not going to jail for failure to carry out their fiduciary responsibilities. Link to comment Share on other sites More sharing options...
DutchGT500 Posted November 18, 2008 Report Share Posted November 18, 2008 They step out with a big bonus as a departure fee. Link to comment Share on other sites More sharing options...
sharabi Posted November 18, 2008 Report Share Posted November 18, 2008 those A$$holes CEOs get their bonuses and sell their shares in stocks before the ship sinks, and leave in their Yachts without any consequences. It was started with Enron S$#t and kept on going. Link to comment Share on other sites More sharing options...
GT500-07 Posted November 18, 2008 Author Report Share Posted November 18, 2008 Detroit Bailout: 7 Key Questions As Congress takes a look at whether to help the struggling U.S. automakers, here is what you need to know about what's at stake for the Big Three. Congress is set to begin a heated debate on whether Detroit's Big Three automakers -- General Motors, Ford Motor and Chrysler LLC -- will be next in line for a federal bailout. Democratic leaders in Congress are in favor of some kind of help, as is President-elect Obama. But the Bush administration has balked on proposals to let the automakers tap the $700 billion Wall Street bailout approved in October. http://finance.yahoo.com/banking-budgeting...7-Key-Questions Link to comment Share on other sites More sharing options...
Boss Doctor Posted November 18, 2008 Report Share Posted November 18, 2008 Has anyone considered that the Republicans are striking back at the unions with their stance? Link to comment Share on other sites More sharing options...
Guest markham51 Posted November 18, 2008 Report Share Posted November 18, 2008 What is the big deal on auto makers bail out....is it ok for 100+billions for the f@@king banks to bail out....why they do not get the ranting the auto makers are getting? I agree. This is chicken feed compared to what the banks sucked up. You can't fault the auto companies for getting caught in 30-45pct sales slumps because of banking system failures. The LAST thing the economy needs is a collapse of the remaining manufacturing base in America just as they were turning their profitability around. Yes they built SUVs for too long, yes they lobbied for lower cafe standards to support gas guzzlers and give them an advantage over foreign suppliers with their lower truck volumes, but you know what? Its governments job to lead the charge in energy sufficiency for America NOT the car companies or oil companies and they have let the people down big time. Tax incentives for SUVs, lack of a comprehensive energy policy, etc. Time to kick ass and take names and not at the expense of American jobs. Its about time someone stood up for American jobs not the other way around. Lets be bold and lets take a stand but lets work together on a plan that looks to the future. If America can spend 10 BILLION a month on a war that lasted 6 years in the name of national security surely America can spend a few dollars in the name of preserving the American Auto Industry. Several things worth noting here: Because of the failure of the banking system it is very hard for car companies to go out and get new loans to stay afloat. Money is out there, just not AFFORDABLE money. When people say just go to Chapter 11 just like the Airline industry just remember the Airline industry is not at all like the car industry: They dont have foreign competition in the US (no Toyota or Honda to scoop up market share) They dont have to make decisions on products years in advance (routes/fare changes happen daily) They don't support 1 out of 10 American jobs (many many parts suppliers will go into bankruptcy as well) They support huge cash flow which allows them to weather storms such as gas prices and economic downturns IMHO now is NOT the time to abandon (take a stand of you wish) the Auto industry and take a risk of total collapse in the middle of a recession. There should be some strings to these loans...I am not sure what they should be... Link to comment Share on other sites More sharing options...
ingram4868 Posted November 18, 2008 Report Share Posted November 18, 2008 I'm reminded of that famous movie quote: " I am mad as hell and I'm not gonna take it anymore" !!!!!!! Any of my politicians that vote to keep giving out money we don't have will not get my vote next time around. Link to comment Share on other sites More sharing options...
GT500-07 Posted November 18, 2008 Author Report Share Posted November 18, 2008 Paulson: Don't use bailout money for automakers Treasury Secretary Henry Paulson told Congress on Tuesday that the administration remains firmly opposed to dipping into the government's $700 billion financial bailout fund for a $25 billion rescue package for Detroit's Big Three automakers, no matter how badly they need the help. "There are other ways" to help them, Paulson told the House Financial Services Committee as the bailout bill clung to life support on Capitol Hill. http://news.yahoo.com/s/ap/20081118/ap_on_.../congress_autos Link to comment Share on other sites More sharing options...
sharabi Posted November 18, 2008 Report Share Posted November 18, 2008 those freaking airlines that took the bail out and cranked up their airfairs are not any better than the blood sucker banks. they decreased the package to 50 pounds under the argument that it hurts the workers carrying those bags...however they still have 70 pounds limit for 1st class. well explain it to me like you explain it to 4years old kid...how in the world the workers back won't hurt if he carries 1st class luggage vs economy luggage. yet they increased their cargo for the difference and made more money and cranked up our freaking air fair. Link to comment Share on other sites More sharing options...
GT500-07 Posted November 18, 2008 Author Report Share Posted November 18, 2008 What US Auto Makers Must Do to Become Viable Again If the US auto industry is to survive, it will have to undergo a major transformation-not only slashing operations but focusing on fewer models, shedding dealerships and making better cars than those produced by Asian manufacturers, analysts say. http://biz.yahoo.com/cnbc/081118/27773776.html Link to comment Share on other sites More sharing options...
sharabi Posted November 18, 2008 Report Share Posted November 18, 2008 What US Auto Makers Must Do to Become Viable AgainIf the US auto industry is to survive, it will have to undergo a major transformation-not only slashing operations but focusing on fewer models, shedding dealerships and making better cars than those produced by Asian manufacturers, analysts say. http://biz.yahoo.com/cnbc/081118/27773776.html why there is no talking about banking restructuring. they just get the money and go. Link to comment Share on other sites More sharing options...
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