Replies to This Discussion

Permalink Reply by The_Baron on November 18, 2008 at 11:31

Well said.

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Permalink Reply by Ginger Fife on November 18, 2008 at 17:05

I say no way to bail out! It makes no sense to do this as those (3) big companys will only come back for more money. Bankruptcy is the only way & to re-organize under the chapter 11 laws. The American people are a wonderful and generous and proud people of their country, but we can only do so much. The Ceo's and Unions are at fault along with not manufacturing dependable & fuel efficient cars before now. They have been loosing the market for many, many years now and should have done something a long time ago. They had and have the knowledge to make a better vehicle & hopefully thru re-orginization they can come back stronger than before. We are all living in a negative driven depressive economy and it is affecting everyone of us on a daily basis. I know first hand, working a full time job and also owing a full time business. Is anyone going to bail me out if i go under because of the economy? I don't think so, it seems to be all about corporate these days, big people with big money & its all about us little guys bailing them out. Many statements have been made about American people and that they need to learn to live within their means. That is a pretty broad statement being said & as far as i see it, the poor people are the only ones able to do that! If we did't have to pay taxes all of us could live much better lives. Tought times bring about change and hopefully it will be for the better!

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Permalink Reply by VSC DeSoto South on November 18, 2008 at 19:20

What part of 'N', 'O' don't you understand
I watched, napped on the CSPAN live coverage of the 3 automakers and the UAW before congress or the senate.
In any case I woke up while a Montana Senator was questioning the 3 CEO's. the quesiton was something like this: Iaccoca said he woudl take $1 per (that is one dollar) per year until the loan was paid back (or they were making money again), in any case he put is wallet on the line, so the senstor asked each if they would take $1. Their answers, Chrysler, yes, he would take $1 only, the other 2 said NO, and acted perturbed to even have to answer the question. I foudn that very telling, and said to myself, if you don't want to put your neck out, then don't expect me to put mine out.
SO no they get nmo money or if we give money then those 2 ceo's need to go first.
Maybe make the car companies civil service jobs and then a government exec can run it, it willbe about as effective as the yahoo's in there now.
Another intersting question was if the US gives them money, would it go to their overseas markets or interests, they stumbled over those answers also, I did not like that either.

If we are gonig to bail these people out, then I better not hear the sighs snickers and other signs of dissaprovel for the lady who is on food stamps, or other assistance, this is no different and it actually worse.

The whole thing, the greed, the arrogance, the opportunism makes me sick, I mean it!
Have a nice night, y'all.

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Permalink Reply by JB BERRY on November 19, 2008 at 3:11

Management has the right to manage or mismanage. Over decades the auto industry has been in denial. As imports of cars swelled, and finally led to foreign auto manufacturing plants on our American soil, they continued their precious status quo. Ignoring the opportunity to develop new automobiles that are less dependent on a diminishing resource oil, they continued to build bigger and even greater consumption vehicles. As CEO's lavished themselves in their perks, stock options, and golden parachutes, they perpetuated the auto industry to the crises you witness today, having finally rode the horse to it's demise. Now they ask the American taxpayer to shower them with our tax dollars to save their mismanagement. Where is the justice for us the taxpayer, and the consumer? Showering the auto industry with tax dollars, will facilitate no change. The auto industry have assets, and ownership in other companies of value. It is time for a wake up to reality, it is called bankruptcy court. There in bankruptcy court is the opportunity for a attitude, and leadership direction of change, hopefully to the future they are gasping to find.

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Permalink Reply by papaw-Cb4 on November 19, 2008 at 13:55

What other asset and ownership in other companies of value does GM & Ford have???????? Ford has sold LandRover, Jaguar, therir extended service agreement company and is working on selling part ownership of their interest in Mazda. You'll keep forgetting that for years and I'm going back to the 60's when I first went to work for GM that the labor unions had much more power than they do today. The union kept demanding more and more every 3 years and drove the wages of the production line workers way out of sight. Everyone wants to put the total blame on the auto companies and they are parially to blame but how about each person who drives a import rather than a domestic vehicle. How about the labor ubions? How about the politicians? One day, it may be to late for the automoblile industry, but the American people need to wake up and realize we need to be supporting American products and American companies and also keeping the work in the USA rather than farming it out to foreign counties. I hate to think what the economy will be like if the 3 automobile companies go bankrupt. I know what it will mean to me personally has I spent 27 years with Gm and 15 with Ford. My retirement would be greatly effected but I'm sureeach of you who buy foreign products will step right up and give us all that would be effected a greatbig old Haynesvill Shale helping hand. God bless America!!!!!!!!!!!!!!!!!!!!!!!!

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Permalink Reply by BirdDawg, plain ole' idiot on November 19, 2008 at 15:01

Papaw,
I have to agree.

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Permalink Reply by papaw-Cb4 on November 19, 2008 at 15:39

BirdDawg thanks!! I hate to sound off but we are all to blame to some extent. Have a great Thanksgiving.

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Permalink Reply by Ant on November 19, 2008 at 10:41

Why should the taxpayer's monies be used to discriminate in favor of some industries under the guise they are too big to fail when numerous smaller businesses are allowed to fail. Is this not a violation of equal protection under the law.

Chapter 11 reorganization is avaliable to all corporations but bailout monies are not. Let the Detroit 3 file for banruptcy protection.

Personally as a taxpayer, I am not interested in having any of my tax dollars used for a bailout. Ask yourself if you would be willing to personally loan GM money? Not me.

The Detroit 3 business model is outdated and non-competitive. Why didn't we bailout buggy whip manufacturers many years ago? Too big to fail is not a valid reason for a bailout.

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Permalink Reply by The_Baron on November 19, 2008 at 10:51

I say if they are to big to fail, break'em up.

We did it to Ma Bell.

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Permalink Reply by wpt9452 on November 19, 2008 at 11:33

If I didn't work for GM I would probably agree with everyone else about the "loan" as opposed to bailout. Everyone should do some research on what life is like at a Toyota factory and how much of the profits stay in this country. If our country doesn't stop giving foreign automakers so many advantages there will be no Big Three. We will buy cars from Japan, Korea, Germany, ect but will these countries buy from U.S.? They have protective practices and buy a very limited amount of cars made in this country. I have but one question, did AIG help make the middle class, did Fannie Mae or Freddy Mac or whoever these banking and investments companies contribute to the middle class? So, let GM, Ford and Chrysler fail, send our money to Japan and if another big war breaks out we can ask China to build us some tanks and Jeeps and all the other stuff that we will no longer have the capacity to build. The poor choices that American auto companies made when building SUV's and Trucks were somewhat influenced by all these folks that came to the dealerships begging for them. The point is........the public has already made up their mind and there is no sense beating a dead SUV.

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Permalink Reply by Grice on November 19, 2008 at 11:47

Wpt, your words are not falling on deaf ears, but I think your position is unstable. Sure, if the "big 3" fail, it might send more money overseas. But, would that be at the fault of the taxpayer? You claim that those SUV's and Trucks were influenced by the buyer. I disagree with that. The decision to build those types of vehicles was based on a money ratio, and not because someone begged for them. Using your logic, all we would need to do is beg for NGV and GM will retool their plants tomorrow? I do not see that happening, and I hope you can see it too. Your use of a scare tactic represents your loyalty to your employer, and I appreciate your efforts. However, we (taxpayers) are not responsible for the action of GM's corporate leaders. I hope I have not offended you personally, but if I have, then I truly apologize.

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Permalink Reply by wpt9452 on November 20, 2008 at 15:57

First of all I am not offended by anyones comments, I understand how people feel about how their tax money is being spent. Look at how many foreign car makers switched to big trucks (Sequioa, Tundra) and now Toyota has shut down their new plant in Texas for 3 months because they can't sell them. I do believe if the big three auto makers fail then we won't come out of this economic mess for several years, there are just too many other people and businesses involved. People do want NGV's but how can GM or Ford build them when the most people will not buy them because of the 4 to 8 thousand increase in cost and the problems with refilling stations and other various problems. It's complicated and if our government, our company leaders and union leaders do not do the right thing for all of us............then this country will never be the same.

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