Do you think the government should bailout U.S. automakers like it decided to do for the banking industry?
35 Comments
Zach said:
Absolutely not! Let them fail, and learn from their mistakes, so they won't fail again.
Warren Wilson said:
Auto bailout? HELL NO!
William Lee said:
I don't think we should bail out the auto industry, but if we spend any tax payer money to do so, we should also realize that all the folks who bought off shore, cars, instead of buying American, should share the blame. This is what happens when you support Japan's economy instead of ours. What goes around, comes around.
Harold Olsen said:
There should not be any bailouts for the auto industry or anyone else. The bailouts for the banking industry should not have happened either.
I knew George W. Bush was not a true Conservative, but I did not know that he had become a Socialist. That is what these bailouts amount to: Socialism.
When average Americans go into debt, does the government bail them out? Of course not! We're just screwed. Well, screw the banking industry and the auto industry. Maybe if they know the government won't bail them out, they will be more careful. They won't waste their money and give huge bonuses and severence packages to the CEO's who bankrupt their companies.
That's who should be bailing these companies out. The CEO's who took big bonuses and severence packages should be giving that money back. Why should they be rewarded for ruining the companies they ran?
cyrixlord said:
I'm quite liberal, but even I'm against all this bailout business. I think the fact we're thinking of a bailout says a lot about our society in general. Today's kids aren't permitted to fail (sports, acadamia, challenges), so they don't know how to deal with it in the future to become better people. These kids then begin to become apathetic towards others and act unreasonably towards society.
bluebluesdancer said:
YES.
It would be far more expensive to let them go under and to lose all those jobs. The thing is to make sure that they are required to follow certain guidelines aimed at developing 'green' cars.
Find a new ownership group. The culture must change. It is time to turn the page. In the high technology sector there are several candidates for ownership of a major car and truck manufacturer. We need forward looking people who are not restricted by the existing culture in Detroit. We need visionary people now with business sense to create automobiles that do not contribute to global warming.
It is time to change and our problems can facilitate our solutions. We can no longer afford to continue down Detroit's old road. The people have spoken. They do not want gas guzzlers (although they still like big cars and trucks). It is possible to build large long-range vehicles that are very efficient. People will buy those vehicles because they represent real change and a solution that we can live with.
The government must take advantage of the powerful position that exists today. The Big 3 are looking for a bailout. They should only get it if they agree to stop building autos that contribute to global warming now. The stress on the auto manufacturers today is gigantic. In order to keep people working in their jobs and keep factories open, this plan is suggested:
The big three must reduce models to basics. a truck, an SUV, a large family sedan, an economy sedan, and a sports car. Use existing tooling.
Keep building these models to keep the workforce employed but build them without engines and transmissions. These new vehicles, called Transition Rollers, are ready for a re-power. No new tooling is required at this stage. The adapters are part of the kits described next.
At the same time as the new Transition Rollers are being built, keeping the work force working, utilize existing technology now, create re-power kits to retrofit the Transition Rollers to SCEVs (self charging electric vehicles) for long range capability up to and over 100mpg. If you don't think this technology is realistic or available, check out the Progressive Insurance Automotive X prize. Alternatively, check out Lincvolt.com or other examples.
A bailed out Auto manufacturer must open or re-purpose one or more factories and dedicate them to do the re-power/retrofit assembly. These factories would focus on re-powering the Transition Rollers into SCEVs but could also retrofit and re-power many existing vehicles to SCEVs. These existing vehicles are currently sitting unsold at dealerships across America.
Auto manufacturers taking advantage of a government bailout must only sell clean and green vehicles that do not contribute to global warming. No more internal combustion engines that run exclusively on fossil fuels can be sold period.
No Big Three excuses like "new tooling takes time". New tooling is not a requirement for SCEV transition rollers.
Build only new vehicles that attain the goal of reversing global warming and enhancing National Security.
Government legislation going with the bailout should include tax breaks for purchasers of these cars with the new green SCEV technology. The legislation accompanying the bailout of major auto manufacturers must include directives to build only vehicles that attain the goal of reversing global warming while enhancing National security, and provide the financial assistance to make manufacturing these cars affordable in the short term while the industry re-stabilizes.
Eventually the SCEV technology could be built into every new car and truck as it is being assembled and the stop gap plan described above would have completed its job of keeping America building and working through this turbulent time.
Detroit has had a long time to adapt to the new world and now the failure of Detroit's actions is costing us all. We pay the bailout. Let's make a good deal for the future of America and the Planet. Companies like UQM (Colorado) and others build great electric motors right here in the USA. Use these domestic electric motors. Put these people to work now. This plan reverses the flow from negative to positive because people need and will buy clean and green cars to be part of World Change. Unique wheel covers will identify these cars on the road so that others can see the great example a new car owner is making. People want America to win!
This plan addresses the issue of Global warming from our automobiles while enhancing our National Security and keeping Detroit working.
Neil Young, activist (Bridge School, Farm Aid) rock legend, has assembled a team that is in the process of transforming his gargantuan 1959 Lincoln Continental from a gas guzzler into a showcase for green technology and sustainability. The car will be entered into the Automotive X Prize that offers a $10 million prize to develop a vehicle that can get 100 miles per gallon or better. The almost 50 year old Lincoln, one of the biggest, heaviest production cars of all time, has been re-named "Linc Volt" and is the subject of a feature documentary called "Repowering The American Dream" that is now in production under the aegis of Young's Shakey Pictures.
Roger said:
We should not bail out the Union's that got these auto companies in trouble. The "Big Three" are paying in access of $70 dollars an hour to their work force and are in trouble. The Japanese companies, manufacturing auto's in this country, paying around $40 dollars an hour, are fine and see no trouble. We need to let the work force for "The Big Three" should realize that the sky is not the limit when it comes to wages. They have driven the auto industry into this mess with their demands and strikes when they don't get their way. So let them restructure their contracts and help themselves get out of this mess. Let them bail themselves out!
p.s. Boeing is next if their work force is not careful.
Michael said:
Should the Government bail out the Auto Industry. No. I think the American people should. Go look in your driveway. If you drive a GM,Ford,or Chrysler you are the solution, if you drive anything else you are THE PROBLEM. Doesn't matter if it is built here or not the money still goes back to Japan or the other foreign companies bank accounts.
The American people killed the American auto industry. You should all be ashamed if you've been buying anything else.
Yes, I drive a Chevy for those who would ask. I have driven American cars going back at least the last 30 years. I had a couple foreign cars and couldn't keep them running so I quit buying them.
If you are thinking of buying a car buy GM, Ford or Chrysler. Anything else is Un-American. Think people or this country is going down for the last time!
Linda said:
Rt. Gen. Wesley Clark wrote an op-ed about the needs of the military for vehicles made by the American auto industry. If so, instead of bailout money, then I think the government should contract with the auto companies for specific technologies: energy-efficient, safe cars and the needed military vehicles. Also, perhaps they could design more public transporation vehicles or vehicles. It is all right to fund the auto companies, but there should be specific deliverables. I don't believe in offering unrestricted money.
cyrixlord said:
They're going to lose jobs anyway. a Bankruptcy will boot the CEOS and force them to get off their obsolete business model. Maybe next time we'll get cars people really want to drive.
Just today I got a chevy 'special sale' letter inviting me to go to the dealership next week. Right on the letter was a big fat gas guzzling pickup truck and a chance to win one just like it! They just don't get it.
READ WHY TOYOTA WON - FEB 13, 2006 ISSUE OF WALL STREET JOURNAL
I watched Hudson and Nash merge and later go out of business. I watched Stubabaker and Packard also go out of business. We did not bail them out. When I toured the Auto Museum in Reno, NV there were many fine car companies that did not survive the early 1900's. There is nothing wrong with allowing the companies to reorganize in bankruptcy.
When I was an independent consultant working for several months at one of the Detroit auto companies in 2005-2006, I observed the issues discussed in this article. The company wanted me to change the method that our software recorded project expenses to do it their way. I told them that our other customers in the automotive industry have accepted our accounting method. We are not going to do it your way. I predicated in 2006 the company would run out of cash and need to file bankruptcy unless they were able to change their business model. I retired this year after working in the consulting profession for 45 years.
The passenger sitting next to me on our flight back to Chicago discussed his company’s business with GM and Honda. He was trained at GM for retooling plants to produce new lines. He was retooling a Honda plant. Even though he was trained by GM, he will not bid on a contract because they are very difficult to work with and want to do it their way. He makes more money on the Honda contract.
Another consultant mentioned that it was difficult for our company to implement a new business process at the joint GM and Toyota plant in CA. Toyota made the decision overnight and GM needed to take several weeks to review the design. Eventually they agreed that the design would work at their joint plant.
Let the Detroit Big Three work through their issues without financial help from our tax payer’s money.
I did buy the Detroit cars for 38 years. I still own 2 of them - 1975 and 1989 models, but the cars I drive daily are from Japan.
Respectfully,
James R. Ehnborn, CPA, CIA
PO Box 58038
Renton, WA 98058
Congress has proven that they can't put the controls in place to insure that the money is wisely used. They failed with:
AIG,
Paulson - don't know how the money was spent and no controls they promised us are in place.
Banks - still have not fixed the problem of the bad mortgages.
Three strikes and you are out - MUST STOP GIVING AWAY ANY MORE $$$$ UNTIL THEY HAVE THE CONTROLS IN PLACE.
ricarda said:
This Bailout scam is nuts and I can't believe that the American people are standing for this.
These companies have only themselves to blame.
I recently went to buy a Chevy Avalanche to find that from the 2003 model to the 2008, that the price had doubled from $26,000 to $52,000. I went next door and bought a Honda hybrid, get 48 mpg for half the cost.
Over the past years we have seen our govt take more and more from us and yet we seem willing to take it.
Examples: remember mortgage interest deductions No longer $ for $. Child care deductions ? Only a portion. And I'm sorry but our middle class taxes have gone up. And God forbid you work overtime, if you work a 90 hour week, your check is taxed as if that is your normal yearly wage instead of looking at it as part of your overall income.
When I help out my small rural school and work as a substitute teacher and make 3,000 a year, I pay $1,000 of it in taxes because my husband works.
The last time I checked we live in a democracy and do have the ability to vote people in or out of office. Are you really okay with your govt officials giving our hard earned dollars away ? The pity is that we can do something about and choose not to. Vote responsibly to take our country back!!
Chuck said:
When it comes to a bail out the goverment could save a lot of money and the economy would be help out a lot if they gave every citizen $i,000,ooo and let them send it the way they would like. The gov erment would get tax money back. That makes to much sence so that will never happen.
Chuck.........
Andy said:
No, we should not! The big 3 knew they needed to make more "gas friendly" cars 30 years ago! What did they do? Make big fat gas guzzzling SUV's! Price of gas goes up, and people stop buying the gas guzzlers.
Jack said:
The Big Three automakers should not be bailed out. They have struggled for years to develop cars the public desires - can you say Pontiac Aztec? The quality and reliability have been substandard, and conintue to be. I was reading an old car magazine from the late 1980's and the US cars were just horrible, yet they make the same mistakes again and again to this day. The Big 3 has known for 15+ years they have quality issues, design issues, and union issues. For example, they have not dealt with the Union issues and this is haunting them daily - how many workers are on their payroll that do not go to a factory or go to work every day yet still get paychecks? Ridiculous.
Bailing them out is just like continuing to save a child that continues to get in trouble. They will never learn the true consequences of their actions unless they learn for themselves. How many people will purchase a car from them after a bailout? I think there wouold be basklash againt these US automakers and bailout money will just be money wasted....
Jack
Sheri Wright said:
No Way! Why should we the taxpayers bail out a company that produces inferior products and pays their union members ungodly amounts of money and benefits that the average American does not have?
Holy moly!
Oregon
Ken Kashuba said:
The "big-3" American auto makers would not have a concern about loyal customers if they had retained their loyalty to the American consumers that fed them. In 1960 Chrysler introduced depreciation engineering into their manufacturing process. In their infinite greed they decided that selling a good, reliable vehicles for a price reasonable was not enough. The real money was in failure. The parts and repair industry seemed to satisfy that for a while, but by the '70s only complete vehicle failure and immediate replacement at full price would feed their growing needs. While we're out here struggling and lucky to be making ten bucks an hour, Detroit assembly line workers are making $71.00 an hour. Bankrupcy and restructuring is the answer.
Miss Daisy said:
No, they should NOT be bailed out! Doggone it...if we bail them out too, then who's going to be next in line? What is this? Company welfare????? Just get in line, cuz the government will give you a nice big fat check. Seems my pocket is going to get picked on a fairly frequent basis and there's nobody to bail ME out! I'm out of work! And I am NOT standing in any government handout line expecting someone to save me. If it comes to living in my car, so be it. Eventually I'll get through it and be able to provide for my children. So when a corporation says it'll go under and wants to pick my pocket.....argh! Get out of that line and suck it up! You are where you are by your own devices! If you had started thinking "fuel efficiency" and "economy" a couple decades ago and had actually decided to "evolve" your product to higher standards (no, I do NOT mean a better air conditioner in that car!) you might now have a product that would have more sales impact. But instead, your products are not only OVERPRICED, they do not offer anything inspirational in mileage, fuel choices, or green living. And to the one who said shame on anyone who hasn't bought American? I believe in my freedom of choice to decide what is best for my family and if an Asian product has better quality for the amount of money I have, I WILL choose it until those beloved American makers get their sorry excuse for a car up to speed for today's economy and global health consciousness! There....I've vented AND passed my emissions testing!!!
No Bail out!!! You big three.....put your hands BACK in your OWN doggone pockets!!!
Denise said:
Gosh dang it! people are hungry, food banks can't keep up! people are homeless and losing homes,can't afford new vehicle let alone food! but the banks and other businesses want a bail out! Give the people the money!! I would buy me and my children a home and a descent vehicle! I would also fill the food banks and help the homeless and others needing help with heat and lights! Government needs to pull their head out of their butts and think about 301 million in population! cheaper than the Auto and the banks!
ricarda said:
As I sit and watch the news about how dour the situation for the car industry is and how without a lot more of our hard earned dollars, how the auto industry and indeed our whole economy will be devastated, I wonder...
What was your plan 3 months ago before this Bailout became an option ? What steps were you taking back in June to insure the viability of your company and industry ? Why our money, why now ?
C said:
Ricarda brings up a really good point .. all of a sudden everyone is in dire need for cash while a few months ago no one raised an eyebrow. The Big 3 shot themselves in the foot by building cars that are inferior and they failed to anticipate what people really wanted.
I find it stunning that they are screaming for cash while all of the other manufacturers who have plants in the US are not seeing any problems at all.
erv said:
maybe the oil companies with thier record billions in profits should be the ones bailing the auto companies out. those 2 are joined at the hip anyway. the record profits go into the hundreds of billions so what the auto companies need is just a fraction of that.
the oil companies could make a small investment into the gas guzzler producers and with gas prices now going down it wont be long before the consumers forget the 3 and $4.00 a gallon gas. put the SUVs on sale then jack up the price of gas again. that way just the consumer gets screwed and not both the consumer and tax payer.
ricarda said:
Common sense economics from an ordinary American.
1. If you raise our gas prices we will not buy new cars and will drive less.
2. If you raise prices on everything, we cannot afford it and will do without
3. If you raid our 401Ks while giving your executives lavish, undeserved bonuses, we will not spend.
4. If you lay off your employees, who is left to buy your products ?
5. If our govt increases our taxes and them gives our hard earned dollars away with the promise of more, we will not spend.
There is only so much of our money to go around. It has always been a matter of balance. When we get to keep our money, we can spend it and the economy grows. But when that money is redistributed to the rich corporations, and people loose their jobs you should not be surprised that all those high priced cars, Plasma tv's and consumer items stay in your stores.
A 20% off sale is not the answer when people have lost their jobs and retirement savings. Maybe the big guys who came to Washington in their private jet might buy more to help the economy...perhaps a new yacht ? We simply cant help right now.
Kate said:
I have no love lost for "The Big Three", their problems are self- inflicted. However, they are literally holding millions of jobs hostage. They will also be ending pension payments to hundreds of thousands of elderly people who are depending on this money every month. Not to mention that it would be the culmination of the neo-con dream to destroy all the big unions. Besides, is this really a bailout they are asking for? I believe it is a bridge loan they are asking for. The US gave Chrysler a loan and Chrysler paid back every cent. We could insist, as the IMF does, that the Auto manufacturers meet certain standards, like use all the patents they are sitting on- or sell us the autos they are selling all over the world or we nationalize them as a penalty. We should give them a loan and institute universal health care, which would also bring down the cost of the autos. Reinstating tarrifs wouldn't hurt either, we can't compete against a worker making ten sents an hour.
Vikki said:
Geeze NO!!! I think I would be asking what happened to all the money that was given to them last time they needed bailed out. I agree with the desion on how they spend them money...I cant believe they need that much help. I think they have their hands out just like every other company in this country....They need to take the fall, and remember how to bail themselves out...
jq200a said:
How about the Oil Industry bail out the Auto Industry,,,half of 1 quarters "profit" would be a good start...
No way should we pay to bail out the big3. Let them go through the court system where they will have to reorginize. As for the employees they should dump the unions. Do some research look at what the non-union automaker employees are getting. They dont have big unions pouring money into the pockets of Congress and Senate, the very people who are voting.
Donev
ricarda said:
Thanks to our largely Democratic Congress, do we have a choice ? Why the rush, why the urgency, why so much of our money ?
The problem lies with the fact that we have a government that has chosen to place its lot with corporate America and not the people who have voted and continue to keep them in office.
The Bailouts are the symptom of Washington gone bad.
bgates said:
Too Bad & So Sad,but it just won't work! They will need to rise or fall on their own. bgates
Fred Ball said:
The Bail Out is bad business and should not be allowed. It is also embarrassing to have our NW Governors back East with their hands out. What is the difference. It is still bad business. If the Auto Makers have to live within their means, then our top leaders in the NW should be required to live within their budget as well without crying and blubbering.
Fred said:
Auto Makers should not be allowed to get Bailed Out.
What is the Difference between Auto Makers, with their hands out, to our NW Governors back East at this very minute with their hands out.
Wake up America, Take Responsibility.
Live within your budget and don't blame others for your own irresponsible spending.
Geezers said:
William Lee!
What in the world! Our fault for buying "of shore" you must have bumped your head mighty hard to think we should share the blame for this!
It's not my fault the "Big Three" make crapy cars that I don't find appealing. I hope they do burn and fall, maybe they'll become a better provider of the American car.
Until that happens I love my Honda!!
I sleep very well at night also.
Let them burn!!! Is it the tax payers fault The big three can’t effectively manage their companies in a down market? Who didn’t see this thing coming? I say it again let them burn!! Most cars purchased in usa are made in the us, The numbers sold won’t change who cares what Companies name is on the trunk as long as it’s made by Americans!!! Those who stand to lose are the only onlys who will benefit from the bailout
Absolutely not! Let them fail, and learn from their mistakes, so they won't fail again.
Auto bailout? HELL NO!
I don't think we should bail out the auto industry, but if we spend any tax payer money to do so, we should also realize that all the folks who bought off shore, cars, instead of buying American, should share the blame. This is what happens when you support Japan's economy instead of ours. What goes around, comes around.
There should not be any bailouts for the auto industry or anyone else. The bailouts for the banking industry should not have happened either.
I knew George W. Bush was not a true Conservative, but I did not know that he had become a Socialist. That is what these bailouts amount to: Socialism.
When average Americans go into debt, does the government bail them out? Of course not! We're just screwed. Well, screw the banking industry and the auto industry. Maybe if they know the government won't bail them out, they will be more careful. They won't waste their money and give huge bonuses and severence packages to the CEO's who bankrupt their companies.
That's who should be bailing these companies out. The CEO's who took big bonuses and severence packages should be giving that money back. Why should they be rewarded for ruining the companies they ran?
I'm quite liberal, but even I'm against all this bailout business. I think the fact we're thinking of a bailout says a lot about our society in general. Today's kids aren't permitted to fail (sports, acadamia, challenges), so they don't know how to deal with it in the future to become better people. These kids then begin to become apathetic towards others and act unreasonably towards society.
YES.
It would be far more expensive to let them go under and to lose all those jobs. The thing is to make sure that they are required to follow certain guidelines aimed at developing 'green' cars.
Find a new ownership group. The culture must change. It is time to turn the page. In the high technology sector there are several candidates for ownership of a major car and truck manufacturer. We need forward looking people who are not restricted by the existing culture in Detroit. We need visionary people now with business sense to create automobiles that do not contribute to global warming.
It is time to change and our problems can facilitate our solutions. We can no longer afford to continue down Detroit's old road. The people have spoken. They do not want gas guzzlers (although they still like big cars and trucks). It is possible to build large long-range vehicles that are very efficient. People will buy those vehicles because they represent real change and a solution that we can live with.
The government must take advantage of the powerful position that exists today. The Big 3 are looking for a bailout. They should only get it if they agree to stop building autos that contribute to global warming now. The stress on the auto manufacturers today is gigantic. In order to keep people working in their jobs and keep factories open, this plan is suggested:
The big three must reduce models to basics. a truck, an SUV, a large family sedan, an economy sedan, and a sports car. Use existing tooling.
Keep building these models to keep the workforce employed but build them without engines and transmissions. These new vehicles, called Transition Rollers, are ready for a re-power. No new tooling is required at this stage. The adapters are part of the kits described next.
At the same time as the new Transition Rollers are being built, keeping the work force working, utilize existing technology now, create re-power kits to retrofit the Transition Rollers to SCEVs (self charging electric vehicles) for long range capability up to and over 100mpg. If you don't think this technology is realistic or available, check out the Progressive Insurance Automotive X prize. Alternatively, check out Lincvolt.com or other examples.
A bailed out Auto manufacturer must open or re-purpose one or more factories and dedicate them to do the re-power/retrofit assembly. These factories would focus on re-powering the Transition Rollers into SCEVs but could also retrofit and re-power many existing vehicles to SCEVs. These existing vehicles are currently sitting unsold at dealerships across America.
Auto manufacturers taking advantage of a government bailout must only sell clean and green vehicles that do not contribute to global warming. No more internal combustion engines that run exclusively on fossil fuels can be sold period.
No Big Three excuses like "new tooling takes time". New tooling is not a requirement for SCEV transition rollers.
Build only new vehicles that attain the goal of reversing global warming and enhancing National Security.
Government legislation going with the bailout should include tax breaks for purchasers of these cars with the new green SCEV technology. The legislation accompanying the bailout of major auto manufacturers must include directives to build only vehicles that attain the goal of reversing global warming while enhancing National security, and provide the financial assistance to make manufacturing these cars affordable in the short term while the industry re-stabilizes.
Eventually the SCEV technology could be built into every new car and truck as it is being assembled and the stop gap plan described above would have completed its job of keeping America building and working through this turbulent time.
Detroit has had a long time to adapt to the new world and now the failure of Detroit's actions is costing us all. We pay the bailout. Let's make a good deal for the future of America and the Planet. Companies like UQM (Colorado) and others build great electric motors right here in the USA. Use these domestic electric motors. Put these people to work now. This plan reverses the flow from negative to positive because people need and will buy clean and green cars to be part of World Change. Unique wheel covers will identify these cars on the road so that others can see the great example a new car owner is making. People want America to win!
This plan addresses the issue of Global warming from our automobiles while enhancing our National Security and keeping Detroit working.
Neil Young, activist (Bridge School, Farm Aid) rock legend, has assembled a team that is in the process of transforming his gargantuan 1959 Lincoln Continental from a gas guzzler into a showcase for green technology and sustainability. The car will be entered into the Automotive X Prize that offers a $10 million prize to develop a vehicle that can get 100 miles per gallon or better. The almost 50 year old Lincoln, one of the biggest, heaviest production cars of all time, has been re-named "Linc Volt" and is the subject of a feature documentary called "Repowering The American Dream" that is now in production under the aegis of Young's Shakey Pictures.
We should not bail out the Union's that got these auto companies in trouble. The "Big Three" are paying in access of $70 dollars an hour to their work force and are in trouble. The Japanese companies, manufacturing auto's in this country, paying around $40 dollars an hour, are fine and see no trouble. We need to let the work force for "The Big Three" should realize that the sky is not the limit when it comes to wages. They have driven the auto industry into this mess with their demands and strikes when they don't get their way. So let them restructure their contracts and help themselves get out of this mess. Let them bail themselves out!
p.s. Boeing is next if their work force is not careful.
Should the Government bail out the Auto Industry. No. I think the American people should. Go look in your driveway. If you drive a GM,Ford,or Chrysler you are the solution, if you drive anything else you are THE PROBLEM. Doesn't matter if it is built here or not the money still goes back to Japan or the other foreign companies bank accounts.
The American people killed the American auto industry. You should all be ashamed if you've been buying anything else.
Yes, I drive a Chevy for those who would ask. I have driven American cars going back at least the last 30 years. I had a couple foreign cars and couldn't keep them running so I quit buying them.
If you are thinking of buying a car buy GM, Ford or Chrysler. Anything else is Un-American. Think people or this country is going down for the last time!
Rt. Gen. Wesley Clark wrote an op-ed about the needs of the military for vehicles made by the American auto industry. If so, instead of bailout money, then I think the government should contract with the auto companies for specific technologies: energy-efficient, safe cars and the needed military vehicles. Also, perhaps they could design more public transporation vehicles or vehicles. It is all right to fund the auto companies, but there should be specific deliverables. I don't believe in offering unrestricted money.
They're going to lose jobs anyway. a Bankruptcy will boot the CEOS and force them to get off their obsolete business model. Maybe next time we'll get cars people really want to drive.
Just today I got a chevy 'special sale' letter inviting me to go to the dealership next week. Right on the letter was a big fat gas guzzling pickup truck and a chance to win one just like it! They just don't get it.
NO!
Absolutely not
Let them go bankrupt & then restructure
It would be cheaper
NO
Let them go bankrupt & then reorganize
READ WHY TOYOTA WON - FEB 13, 2006 ISSUE OF WALL STREET JOURNAL
I watched Hudson and Nash merge and later go out of business. I watched Stubabaker and Packard also go out of business. We did not bail them out. When I toured the Auto Museum in Reno, NV there were many fine car companies that did not survive the early 1900's. There is nothing wrong with allowing the companies to reorganize in bankruptcy.
When I was an independent consultant working for several months at one of the Detroit auto companies in 2005-2006, I observed the issues discussed in this article. The company wanted me to change the method that our software recorded project expenses to do it their way. I told them that our other customers in the automotive industry have accepted our accounting method. We are not going to do it your way. I predicated in 2006 the company would run out of cash and need to file bankruptcy unless they were able to change their business model. I retired this year after working in the consulting profession for 45 years.
The passenger sitting next to me on our flight back to Chicago discussed his company’s business with GM and Honda. He was trained at GM for retooling plants to produce new lines. He was retooling a Honda plant. Even though he was trained by GM, he will not bid on a contract because they are very difficult to work with and want to do it their way. He makes more money on the Honda contract.
Another consultant mentioned that it was difficult for our company to implement a new business process at the joint GM and Toyota plant in CA. Toyota made the decision overnight and GM needed to take several weeks to review the design. Eventually they agreed that the design would work at their joint plant.
Let the Detroit Big Three work through their issues without financial help from our tax payer’s money.
I did buy the Detroit cars for 38 years. I still own 2 of them - 1975 and 1989 models, but the cars I drive daily are from Japan.
Respectfully,
James R. Ehnborn, CPA, CIA
PO Box 58038
Renton, WA 98058
Congress has proven that they can't put the controls in place to insure that the money is wisely used. They failed with:
AIG,
Paulson - don't know how the money was spent and no controls they promised us are in place.
Banks - still have not fixed the problem of the bad mortgages.
Three strikes and you are out - MUST STOP GIVING AWAY ANY MORE $$$$ UNTIL THEY HAVE THE CONTROLS IN PLACE.
This Bailout scam is nuts and I can't believe that the American people are standing for this.
These companies have only themselves to blame.
I recently went to buy a Chevy Avalanche to find that from the 2003 model to the 2008, that the price had doubled from $26,000 to $52,000. I went next door and bought a Honda hybrid, get 48 mpg for half the cost.
Over the past years we have seen our govt take more and more from us and yet we seem willing to take it.
Examples: remember mortgage interest deductions No longer $ for $. Child care deductions ? Only a portion. And I'm sorry but our middle class taxes have gone up. And God forbid you work overtime, if you work a 90 hour week, your check is taxed as if that is your normal yearly wage instead of looking at it as part of your overall income.
When I help out my small rural school and work as a substitute teacher and make 3,000 a year, I pay $1,000 of it in taxes because my husband works.
The last time I checked we live in a democracy and do have the ability to vote people in or out of office. Are you really okay with your govt officials giving our hard earned dollars away ? The pity is that we can do something about and choose not to. Vote responsibly to take our country back!!
When it comes to a bail out the goverment could save a lot of money and the economy would be help out a lot if they gave every citizen $i,000,ooo and let them send it the way they would like. The gov erment would get tax money back. That makes to much sence so that will never happen.
Chuck.........
No, we should not! The big 3 knew they needed to make more "gas friendly" cars 30 years ago! What did they do? Make big fat gas guzzzling SUV's! Price of gas goes up, and people stop buying the gas guzzlers.
The Big Three automakers should not be bailed out. They have struggled for years to develop cars the public desires - can you say Pontiac Aztec? The quality and reliability have been substandard, and conintue to be. I was reading an old car magazine from the late 1980's and the US cars were just horrible, yet they make the same mistakes again and again to this day. The Big 3 has known for 15+ years they have quality issues, design issues, and union issues. For example, they have not dealt with the Union issues and this is haunting them daily - how many workers are on their payroll that do not go to a factory or go to work every day yet still get paychecks? Ridiculous.
Bailing them out is just like continuing to save a child that continues to get in trouble. They will never learn the true consequences of their actions unless they learn for themselves. How many people will purchase a car from them after a bailout? I think there wouold be basklash againt these US automakers and bailout money will just be money wasted....
Jack
No Way! Why should we the taxpayers bail out a company that produces inferior products and pays their union members ungodly amounts of money and benefits that the average American does not have?
Holy moly!
Oregon
The "big-3" American auto makers would not have a concern about loyal customers if they had retained their loyalty to the American consumers that fed them. In 1960 Chrysler introduced depreciation engineering into their manufacturing process. In their infinite greed they decided that selling a good, reliable vehicles for a price reasonable was not enough. The real money was in failure. The parts and repair industry seemed to satisfy that for a while, but by the '70s only complete vehicle failure and immediate replacement at full price would feed their growing needs. While we're out here struggling and lucky to be making ten bucks an hour, Detroit assembly line workers are making $71.00 an hour. Bankrupcy and restructuring is the answer.
No, they should NOT be bailed out! Doggone it...if we bail them out too, then who's going to be next in line? What is this? Company welfare????? Just get in line, cuz the government will give you a nice big fat check. Seems my pocket is going to get picked on a fairly frequent basis and there's nobody to bail ME out! I'm out of work! And I am NOT standing in any government handout line expecting someone to save me. If it comes to living in my car, so be it. Eventually I'll get through it and be able to provide for my children. So when a corporation says it'll go under and wants to pick my pocket.....argh! Get out of that line and suck it up! You are where you are by your own devices! If you had started thinking "fuel efficiency" and "economy" a couple decades ago and had actually decided to "evolve" your product to higher standards (no, I do NOT mean a better air conditioner in that car!) you might now have a product that would have more sales impact. But instead, your products are not only OVERPRICED, they do not offer anything inspirational in mileage, fuel choices, or green living. And to the one who said shame on anyone who hasn't bought American? I believe in my freedom of choice to decide what is best for my family and if an Asian product has better quality for the amount of money I have, I WILL choose it until those beloved American makers get their sorry excuse for a car up to speed for today's economy and global health consciousness! There....I've vented AND passed my emissions testing!!!
No Bail out!!! You big three.....put your hands BACK in your OWN doggone pockets!!!
Gosh dang it! people are hungry, food banks can't keep up! people are homeless and losing homes,can't afford new vehicle let alone food! but the banks and other businesses want a bail out! Give the people the money!! I would buy me and my children a home and a descent vehicle! I would also fill the food banks and help the homeless and others needing help with heat and lights! Government needs to pull their head out of their butts and think about 301 million in population! cheaper than the Auto and the banks!
As I sit and watch the news about how dour the situation for the car industry is and how without a lot more of our hard earned dollars, how the auto industry and indeed our whole economy will be devastated, I wonder...
What was your plan 3 months ago before this Bailout became an option ? What steps were you taking back in June to insure the viability of your company and industry ? Why our money, why now ?
Ricarda brings up a really good point .. all of a sudden everyone is in dire need for cash while a few months ago no one raised an eyebrow. The Big 3 shot themselves in the foot by building cars that are inferior and they failed to anticipate what people really wanted.
I find it stunning that they are screaming for cash while all of the other manufacturers who have plants in the US are not seeing any problems at all.
maybe the oil companies with thier record billions in profits should be the ones bailing the auto companies out. those 2 are joined at the hip anyway. the record profits go into the hundreds of billions so what the auto companies need is just a fraction of that.
the oil companies could make a small investment into the gas guzzler producers and with gas prices now going down it wont be long before the consumers forget the 3 and $4.00 a gallon gas. put the SUVs on sale then jack up the price of gas again. that way just the consumer gets screwed and not both the consumer and tax payer.
Common sense economics from an ordinary American.
1. If you raise our gas prices we will not buy new cars and will drive less.
2. If you raise prices on everything, we cannot afford it and will do without
3. If you raid our 401Ks while giving your executives lavish, undeserved bonuses, we will not spend.
4. If you lay off your employees, who is left to buy your products ?
5. If our govt increases our taxes and them gives our hard earned dollars away with the promise of more, we will not spend.
There is only so much of our money to go around. It has always been a matter of balance. When we get to keep our money, we can spend it and the economy grows. But when that money is redistributed to the rich corporations, and people loose their jobs you should not be surprised that all those high priced cars, Plasma tv's and consumer items stay in your stores.
A 20% off sale is not the answer when people have lost their jobs and retirement savings. Maybe the big guys who came to Washington in their private jet might buy more to help the economy...perhaps a new yacht ? We simply cant help right now.
I have no love lost for "The Big Three", their problems are self- inflicted. However, they are literally holding millions of jobs hostage. They will also be ending pension payments to hundreds of thousands of elderly people who are depending on this money every month. Not to mention that it would be the culmination of the neo-con dream to destroy all the big unions. Besides, is this really a bailout they are asking for? I believe it is a bridge loan they are asking for. The US gave Chrysler a loan and Chrysler paid back every cent. We could insist, as the IMF does, that the Auto manufacturers meet certain standards, like use all the patents they are sitting on- or sell us the autos they are selling all over the world or we nationalize them as a penalty. We should give them a loan and institute universal health care, which would also bring down the cost of the autos. Reinstating tarrifs wouldn't hurt either, we can't compete against a worker making ten sents an hour.
Geeze NO!!! I think I would be asking what happened to all the money that was given to them last time they needed bailed out. I agree with the desion on how they spend them money...I cant believe they need that much help. I think they have their hands out just like every other company in this country....They need to take the fall, and remember how to bail themselves out...
How about the Oil Industry bail out the Auto Industry,,,half of 1 quarters "profit" would be a good start...
No way should we pay to bail out the big3. Let them go through the court system where they will have to reorginize. As for the employees they should dump the unions. Do some research look at what the non-union automaker employees are getting. They dont have big unions pouring money into the pockets of Congress and Senate, the very people who are voting.
Donev
Thanks to our largely Democratic Congress, do we have a choice ? Why the rush, why the urgency, why so much of our money ?
The problem lies with the fact that we have a government that has chosen to place its lot with corporate America and not the people who have voted and continue to keep them in office.
The Bailouts are the symptom of Washington gone bad.
Too Bad & So Sad,but it just won't work! They will need to rise or fall on their own. bgates
The Bail Out is bad business and should not be allowed. It is also embarrassing to have our NW Governors back East with their hands out. What is the difference. It is still bad business. If the Auto Makers have to live within their means, then our top leaders in the NW should be required to live within their budget as well without crying and blubbering.
Auto Makers should not be allowed to get Bailed Out.
What is the Difference between Auto Makers, with their hands out, to our NW Governors back East at this very minute with their hands out.
Wake up America, Take Responsibility.
Live within your budget and don't blame others for your own irresponsible spending.
William Lee!
What in the world! Our fault for buying "of shore" you must have bumped your head mighty hard to think we should share the blame for this!
It's not my fault the "Big Three" make crapy cars that I don't find appealing. I hope they do burn and fall, maybe they'll become a better provider of the American car.
Until that happens I love my Honda!!
I sleep very well at night also.
Let them burn!!! Is it the tax payers fault The big three can’t effectively manage their companies in a down market? Who didn’t see this thing coming? I say it again let them burn!! Most cars purchased in usa are made in the us, The numbers sold won’t change who cares what Companies name is on the trunk as long as it’s made by Americans!!! Those who stand to lose are the only onlys who will benefit from the bailout
dave
12 Dec 08 at 10:23 am