The Associated Press is reporting this afternoon that House Speaker Nancy Pelosi is calling for “emergency and limited financial assistance” for the U.S. auto industry in an effort to prevent one or more of the automakers from going under.
Congress is due back in town for a lame duck session next week. We’ll see how lawmakers react to Pelosi’s appeal and whether President Bush is open to it. Pelosi hasn’t said how large a auto bailout package might be.
UPDATE: Here’s a statement Senate Majority Leader Harry Reid just put out on this subject:
“Senate Democrats are committed to doing all we can to help the auto industry. Next week, during the lame-duck session of Congress, we are determined to pass legislation that will save the jobs of millions of workers whose livelihoods are on the line. They deserve no less.
“But until next year, we still have the slimmest of majorities in Senate; this will only get done if President Bush and Senate Republicans work with us in a bipartisan fashion, and I am confident they will do what is right for our economy.”
No.
No way, no how! Nasty Pelosi needs to loosen the glue keeping her eyes open. The porn industry is suffering from economic woes and needs a bailout too.
That Nancy Pelosi is a moron! The republicans said this would happen. Once you help one then you have to help them all. Obama said if the Bush administration doesn’t sign, then he will. This will be never ending.
People will start screaming that it’s unconstitutional, if you help one you have to help them all.
NO because it doesn’t help the workers of the auto industry!!
Detroits improvements over the years has been to make SUVs larger and brighter, more chrome and bulk, add more horsepower and bigger tailpipes, even bring back portholes, gas sucking cast iron V8 and V10 that were very profitable to the bottom line. They knew this was coming, that people didn’t need to buy a new car every few years or when a bigger bumper came out yet they did basically nothing about changing their direction. Each year they raised their prices, added more costs to their production, an SUV is basically a truck and if driven and maintained properly should last twenty years, the writing was on the wall and theyn put it there.
it beats bailing out AIG… that said, Pelosi stinks
Please let the big three go down.You think things are bad now? Almost EVERTHING in this country is tied to cars, car dealers or suppliers for the auto industry. I think that every American starting from scratch is a wonderful idea dont you?
haha….we all say “NO”, but guess what is going to happen? GM is gonna get bailouted anyway!!!! We citizens no longer have a say in our government’s actions, nor do we have a say in how they spend our tax money!!! so sad.
“Everything was tied” to AIG too, right?
I know this sounds crazy, but can we just let capitalism do its thing?
I know that completely goes against what our current House Speaker believes in, but given that she hasn’t worked a day in her life in the private sector, I don’t see how she’s even qualified to make these kinds of decisions.
If they are not bailedout all the retirees and UAW workers will lose their pensions, As it is they are currently a huge drain on the big three and major part of their financial woes. IT WILL JUST DELAY THE INEVITABLE…….
Would you have hundreds and thousands of workers and thousands of related companies that employ even more people go away? I’m not a fan of American cars, but the industry, not as important as it once was, will have far reaching consequences if they fail.
Your not affected by the latest failures of company X, but you will be you will be if the constant snowball of company failure continues.
Yes, the domestic car industry was ill positioned for the high price of gas, and the trend towards green autos, but they have the potential to healthy companies at some point in the next 5-10 years-with a good chance of the tax payer making money on the deal.
AIG is a bottomless pit, and will costs hundreds of billions of dollars before it stops bleeding. Which one would you choose?
Get the story right CONGRESS is not bailing anyone out, the US TAXPAYERS are.
This is not a bailout and is not about the money, it is about the power and takeover of the Treasury. Read the bill, we are letting the Fox guard the hen house? Come on America, turn the TV off and get involved in your country, it is pretty obvious we cannot trust the politicians to run it for us.
Neither — I’m retired and enjoy golfing — as Johnny Carson used to say: “I upped my lifestyle - up yours!”
The US auto industry and the trade unions that supposedly “protect” the worker have been arrogant and out of touch with reality for just about 20 years now. If it wasn’t for Honda and Toyota grasping the notion that Quality sells, we would still be driving cars that have 12 mo / 12K mi warranties with the full expectation to pay thousands in repair bills annually,.if wasn’t for Volvo, we would not have the type of safety that we have all grown to appreciate and expect, and if it wasn’t for BMW and Mercedes, we would all be driving a Taurus or a Pacer with absolutely no style like those incarcerated in pre-Berlin-wall East Germany. THe big three did good with the SUV to build up their nest eggs (where did all of that money go???) and the minivan, however, again dragging their butts and late to the game with Hybrids, electric, and other Green tech that people are saying that they want and they need. Yea, let the big three die on the vine - or - give us all the money instead, and let us use the money earmarked for “transportation only” so that when everything is said and done for, the money spent will tell the automakers what they were all dying to know but should have known already.
I thought Obama was the Messiah? Let him take care of everything next year.
please dont bailout the big 3….all their cars suck
YES! The reason why A merican automakers kept making but the big gas sucking SUV’s is because thats what Americans wanted!! Its called supply and demand. But now Toyota has the Sierra and the Tundra and Nissan has the Armata which are big gas guzzling v-8’s themselves. When you break down anywhere in America you can find a Ford or Chevy part. If we let the American auto makers collapse the only thing we will be able to buy is Japanese, Korean and Chinese cars!! Do you really want to send all of our hard earned money to support foreign economies when we could have supported our own? Put your politics aside for one minute and look at the whole picture. When your 1998 Kia breaks down in the middle of no where, who is going to have the part you need??? Do you want to keep giving foreigners our jobs, support their governement and outsource America’s last bit of dignity?
Wow! I’m actually a little bit encouraged to see “No” winning 3 to 1. Good job, Orange County!
Not until they agree to stop building really pathetic ugly cars!
I myself could design better looking, faster, and more fuel-efficient cars, trucks, and SUV’s with my hands tied behind my back!
Debbie Snow:
I don’t want Barack HUSSEIN Obama to succeed in any regard for 4 (or, God forbid,
years. Next question?
There is no choice. We have to bail them out.
Its easy to say NO bailout and I agree that they (Big 3) need to learn to compete. BUT….do you have any idea how many jobs are tied to this industry? Suppliers?? Dealers?? Trucking?? Most that say no just think its one or two companies no big deal we will just buy a Honda or Toyota. But it is much more complex.
You can blame the UAW for putting the big three in the red with the no layoffs without large cash pay offs and the high pensions that are bigger then most city and county jobs.
Your boy Hussein will bail them out, heck it ain’t his money.
So Debbie Snow , based on your story we need to reward incompetence?
Screw them, they made a mess let them fix their own screw up.
I want to know who’s going to bail ME out? And the rest of us who are struggling?
Ya know, it really doesn’t matter what the people want in this society. the ones we elected to office don’t listen to us anyway. The calls to the politicians ran 90-1 against the bailout that was approved Oct 3. And so far history has proven the people were right and the politicians were wrong. But that won’t stop them from ignoring you. That’s what happens when congress is bought and paid for by the corporate crooks!
look at all the hatred, none of you ignorant and racist people know my work.
Absolutely NOT!
This is exactly the reason why I was against the first bailout of the housing sector! Look at what it has done to our country. It is causing a chain reaction of bailouts and the worst part about it is that the hard working people of this country are the ones suffering. The first bailout didn’t work (isn’t working) and this one won’t either.
When will the government realize that the key to fixing this economic mess is supporting honest, tax paying, citizens who are also the key consumers to a strong market?
Why should we (the people) be held accountable for poor products and business operations of domestic auto makers? How is that fair?
If this bailout does get passed, it may be a bandage onto the wound, but it cries incompetence and injustice in the eyes of our people and the eyes of other countries.
And no matter which way you look at it, in the long run, it is not helping our country at all!
GM is a joke. Their cars are a joke. Their management is a joke. The unions and management have killed the company thru their collective greed. So Pelosi and the Congress want to reward yet another failed business. How come Toyota, Honda and Nissan aren’t in bankruptcy? Could it be that they manufacture BETTER designed cars in the USA? You don’t hear them asking for a bailout? They aren’t losing money by the truckload. GEE, I guess the best way to succeed in the USA is to FAIL and let the Congress bail you out! IMPEACH THE CONGRESS, TERM LIMITS, NO LIFE TIME JOBS FOR CONGRESS!!
New Name! USA Motors. That is the name of the new bail out company. All Americans should get free cars after this as well. Why stop at the bail out? Nancy Pelosi can give the auto makers billions for basic failure - if something is broken - keep it broken. Nancy can then buy each American a new car, each coming with a 100,000 mile Bumper to Bumper Congress Warranty, and she can fill up our gas tanks! Just keep printing the money man - keep the presses going - we don’t need gold now to back up the greenback - just need to buy ink and paper. When does the bail out of the American Public happen? Each person should get $200,000 - ALL PROBLEMS SOLVED! I’m moving to Norway and eating squid. I will be back in four years. Good luck USA it was a fun 200 years.
Nope. Let them all go down. Time to retrain all those workers to program computers and create a new web site for OCRegister.Com
It’s very funny . Auto makers had been making billions of dollars before . Did they ever share their profits to taxpayers ? Why do now taxpayers have to rescue them ? I strongly oppose to it .
Has anyone thought far enough ahead to realize that even if the congress bails out the american auto industry who will buy these vehicles? With tight credit, lowering home values and a stagnant economy when all this money keeps all these jobs making all these cars who will be able or willing to buy them (has anyone been to a busy car lot lately) ? Maybe if we wait long enough the government will buy us all new cars, in the meantime I see acres of new cars that won’t be going anywhere……….
NO,NO,NO,NO. What part of that do you not understand? NO bail out Stop throwing my money away it does not belong to you. Pelosi,Schumer,Reid,Obama. STOP,STOP. People maybe it is time for a coup lets take the country back. By force if we have to The people that are supposed to be in charge have let us down.
Dang, it sure is easy spending other people’s money, huh?
I’d like to get in on that racket.
Heck, I might even stop paying my mortgage so Nancy, Babs Boxer and DiFi send me a bailout check in the mail too!
If you can’t beat ‘em, join ‘em!
Bail-outs are only appropriate if necessary as an emergency to temporarily prop-up an important industry so workers aren’t left broke and homeless.
Perhaps this will be a wake-up call for America’s car manufacturers to get serious about competiting in the world market. GM’s attempt to create a ‘quality’ car produced, sadly, the Saturn, an ugly, unappealing car.
I think part of the problem is cultural, in that Americans are simply a little fat in the head. The attitude that ‘if it makes money ithen it must be good’ is short-sighted and lazy. Attaching a clunky, heavy metal frame to four tires and calling it a car just ain’t gonna work anymore.
Let the Big 3 restructure and stew in their own inept juices until they figure out how to produce products that actually appeal to buyers.
All that the government gives to us it must also take from us. It’s a zero sum game. People will suffer and lose jobs but perhaps the industry will consolidate and create a stronger US auto company. Unions is a large part of our inability to compete and survive. The Dems don’t see that.
Robert Bobby, I’m with you.
“# JakeD Says:
November 11th, 2008 at 6:04 pm
Debbie Snow:
I don’t want Barack HUSSEIN Obama to succeed in any regard for 4 (or, God forbid,
years. Next question?”
Right, so.. just to make sure I have this, you are rooting for America to suffer for 4 years just so you can feel good about your vote.
Remind me, which people are unpatriotic again?
People need to start taking responsibility for their own actions… I am so sick of bailing people out when they started the mess in the first place. We are all hurting, if they get a “bail out” then we should all get “bailed out” because we are hurting too. In the long run we end up paying for other people’s mistakes, and this is not right.
Why do people keep thinking that “bailout” means a big fat check for free, with no accountability? All these bailouts are designed to give companies a chance to correct their mistakes and become profitable again. The taxpayers are getting an ownership stake which means, assuming the companies don’t end up going under anyway, we get our money back
I’m not advocating for any particular bailouts here, just for people to use a bit more critical thinking skills and a bit less blind faith in the free market. Has everybody forgotten that insufficient regulation of the free market caused most of the problems we’re going through right now?
Not just “no,” but F**K No to any bailout, especially for the American automakers. Many of their cars are junk anyways. Why prolong the inevitable?? Let them file Ch.11 and restructure…gid rid of the unions and get rid of the management.
The “Big 3″ US auto makers have been producing junk vehicles that they don’t back for years now, while their corporate executives have lived high off the hog. Let the free market dictate what happens and may the embarrassing US Auto industry go down faster than the Titanic! Recommended viewing? The movie, “Roger and Me!”.
The ideal that Ford and GM need “bailout” money to build fuel efficient cars is rediculous. While my sister was livng in France, she and her freinds drove European Fords and GMs which were very good and were able to deliver 55+ miles per gallon (YES, 55+ MILES PER GALLON) on diesel. New diesels are far cleaner than those of yesteryear. There is absolutley no reason why these cars can not be sold here.
Perhaps these cars should be brought to the States.
I say no. It’s time for the UAW and other unions to cease and desist. Why should the taxpayer be responsible for all those retirees and union health care and pensions anyway. Let them go on welfare for all I care.
And think about all the open space available for parks and community centers when all the dealerships fold.
It will be hard on cities who were used to the sales tax but I’m sure the demand on services will decrease as people move away.
The standard wisdom of Adam Smith states that if someone else can more economically produce a product that a market demands, let them produce that product and turn your efforts to where you might be more competitive.
Therein lies the problem, the market. If we bail out the automakers, who will buy the autos? Are we going to pay automaker employees to just sit idle? If times remain hard, the repair business may increase, yet individual dealerships are reporting their repairs revenue are even down.
In practical terms, if we are bailing out auto workers, or any other workers, give the money directly to them instead of to white collar idlers who missed seeing the future of their business.
Amazing….so many people wanted Obama and the democrats to be in charge. 7 days after the election they are howling. It is no secret that the democrats are marxist/socialists. Key committee democrats in congress are from the auto industry districts. Did you people really think that the top democratic leadership would let their union voters lose their jobs.
Just wait for socialized medicine, limited re-imbursements to doctors and hospitals, the red ink will be flowing in the medical industry. More bailouts are on the horizon.
Socialism is great providing you don’t have to pay for it.
No way! Y? Because of EXACTLY the same reasons the bankers and lenders didn’t deserve to get it either! All these greedy bastards have made ZILLIONS on the poor and middle class, made us ALL one big pile of disgusted {Americans}?? who have paid taxes, worked, worked hard and long, watched all the jobs go OUT of the country! All of our BILLS have gone UP and UP and UP, yet our HOME values, our pensions, 401’s, savings accounts IF you were fortunate enough to have one!! go down, due to NO MORE interest being paid, while the oil companies, the bankers too! the mortgage brokers, and electric monopoliesl all the utility companies, all the insurance companies, the oil companies, [DESERVE BEING MENTIONED TWICE!] BANKERS and mortgage/INVESTORS? ALL MADE ZILLIONS, STOLE THEIR HOMES ONCE VALUES TANKED AND INTEREST RATES WENT UP 17 TO 18 CONSEQUTIVE times!!! NOW THE BANKS own THESE HOMES, AFTER BEING THE LOAN SHARKS WHO GAVE THE LOANS AND THEN CHARGED THESE PEOPLE TRIPLE AND MORE!!! ALL THESE “FOLKS” INCLUDING THE CROOKED, CAR DEALERS!! YES, WHO BOUGHT SOME IF NOT ALL OF THE BOOKS WHERE VALUES ARE “TOLD” TO BE AN HONEST AND FAIR VALUE FOR YOUR CAR OR theirs??? COME ON, WHERE DID ALL THE JOBS GO HOW MANY YEARS AGO????? LISTEN PEOPLE, JUST ONE MORE GIANT GREEDY INDUSTRY, MONOPOLY AND DISGUSTING GREEDY PEOPLE, THIS MONEY IF GIVEN TO THE AUTO INDUSTRY WILL DO THE SAME THINGS IT’S DONE FOR THE HOMEOWNERS….NOTHING…TO THE CONSUMERS AND ONES WHO DESERVE THE BREAKS…NOTHING…TO THE BIG CEOS, AND CORPORATE ‘BUDDIES’ OF THE BUSH ADMIN. FREE RIDES AND MORE BONUSES AND MORE MONEY!! GOLDEN PARACHUTES? TRY PLATINUM! DISGUSTING, GREED GREED AND MORE GREED, DOES ANYONE KNOW Y GAS IS GOING DOWN? CAN WE SAY AGAIN….THE FOX IS LEAVING THE HEN HOUSE! THE CROOKED OIL MEN AND ALL THE RECIPIENTS OF ALL THESE PAST 8 YEARS OF ALL THE KICKBACKS AND PAYOFFS N SO ON…ARE FINALLY LEAVING {BUT NOT ALL OF THEM ARE GOING!] AND GOD ONLY KNOWS WHATS UP THE ROAD WITH THE NEXT PRES.?? AS I’VE BEEN SAYING….GOD PLEASE HELP US ALL, ALL OF US WHO DESERVE IT!! ANOTHER THING I ALWAYS SAY…TIME WILL TELL….THANK GOD ALMIGHTY WHO …IS…THE FINL JUDGE!!
Has anyone ever heard of enabling? We are enabling the banking industry to continue business as usual. Now they want to enable the auto industry to continue business as usual.
The banking industry made bad business decisions. The auto industry made bad business decisions. Don’t enable them to continue down the same path. If you must bail out then put heavy conditions on the money. Like no obscene executive salaries or benefits. Think how many average employees you can keep on the payroll for one executive salary.
as of 6:55 a.m. 319 to 81 AGAINST THE BAILOUT.We were not listend to with the payoff….er ..a ,i mean the bail out of aig and the other criminal organizations do you think we will be listend to this time?
Since the Republicans decided to bail out their rich friends on Wall Street, I suppose it’s only fair that the Democrats help out their friends in the Rust Belt.
That said, one of the strings that should be attached to any bailout should be the complete purging of all top management - their decisions led to this mess, so their heads should roll. A perfect example is Frank Lutz at GM, who has insisted that Americans want horsepower and muscle cars for the past three decades. Lutz put GM in the precarious position of having low mileage cars, which meant that as soon as gas prices rose or the economy tanked, the automaker was destined for a crisis.
We must prop up the auto industry, because to let it disappear would eliminate 2.5 million jobs in the short run and countless jobs beyond that as the ripple effects spread throughout the economy. Please consider that the job losses would extend beyond the Big Three because the auto industry touches so many other businesses–parts suppliers, transportation, advertising, media, etc.. In fact, there’s probably someone in your neighborhood who is directly or indirectly involved in the U.S. auto industry. Sure, we’d like to punish the Big Three execs for focusing too long on trucks and SUVs, but let’s not punish our neighbors and the rest of the economy along with them. We’re giving enough money to foreign automakers, let’s give some to our own.
Does the German Gov. have to bail out Mercedes and BMW? Does the Japanese Gov. have to bail out Toyota? Honda? Nissan? Korean Gov Kia? …..Big Three has poorly managed successful American Auto Icons into the ground… a bail out won’t stick..
habanerojo, I think it’s BOB Lutz, not Frank Lutz. Also, Americans kept demanding “horsepower and muscle cars,” so should we have expected Detroit to try to sell us underpowered gas-sippers? And, sure, the public’s demand shifted when gas prices unexpectedly soared, but no one predicted $4.50-a-gallon gas for this year.
Why does everyone keep starting off the “yes” argument with “do you know how many jobs are tied to this?” Bailing out failing businesses is not pro-job, it is anti-job. It simply does it in a slower, more painful, harder to reverse manner than simply letting them fail. Just because the failing business is really big doesn’t change the fundamentals. Secondly, we aren’t talking about GM going out of business or the entire industry, we are talking about letting them file bankruptcy so they can restructure and compete. It’s healthy.Finally, I wonder if anyone actually does know the number of jobs tied to this. WAMU and Wachovia both employed more people than GM and we let them fail. The suppliers to GM can just as easily sell to the non-failing car makers. GM employs a negligible amount of people, especially since they’ve already shipped most of their jobs to foreign countries.
Unfortunatly, so many jobs are directly dependent on the big 3, that if they fail, the fallout will make an already bad situation even worse.
why not? they bail out everybody else. it’s not their money it’s the tax payers,me and you. speaking of a bail out i could use a few bucks.
Bail them out! I just bought 1000 shares in GM! If they get the bailout I’m rich Biatch!
I normally take the bus to work and shopping
I save about $300 a month on fuel
I have a 1972 Chevy
$300 a year to insure
Very easy and cheap to fix
No BS smog check
Registration is $69 a year
No worries about getting it stolen or car jacked
Should Detroit get bailed out? HELL NO!
The cars they sell are expensive junk!
Thousands to insure
Scratch a fender, and it costs thousands!
One little sensor goes out and its another couple thousand!
Lettem go down in flames!
I’ll keep riding the bus and driving my good old cheap reliable Chevy
I think we can all agree that what we all want is to see our auto industry retool and become profitable again, which probably means completely shifting focus to smaller, more environmentally friendly cars that can compete in this market.
From what I am understanding, it’s pretty unlikely that this would happen if they don’t get further assistance.
Then new companies will emerge, Damon.
Weren’t you the guys who believed in Darwin and evolution?
I feel sorry for the truly good hard working people that will get hurt and possibly ruined
And nothing but contempt for the useless overpaid Peeholes! that will be rewarded
What a sick worthless cuntree we live in
NO …… both sides in this MUST give ground before we put a dime in. The Auto worker must give 10% in a wage cut and salaried the same. Auto workers make 78,000 a year without over time At a 10% cut is it better to have a 70,200 a year job or no job at all. Why should we the people subsidise someone who already has a great paying job when NOBODY in congress does anything for the working middle class who has to pay for all of this. IT WRONG …. and it’s political payback with iur MONEY ………I say NO…..NEVER!!!
NO. Why should Americans making much less than auto workers pay for them to keep their jobs.
AFTER auto workers take a 50% pay cut - and auto retirement also takes a big cut - THEN Americans MIGHT be willing to help them out.
Where were the car makers and union workers when I needed an affordable car? Where are they now? What are THEY doing to help the situation?
Yes, if they bail out banks, then autos it other we can’t do without. GM alone has more worker per car then any other company that not a USA company, but make car her. It one thing if K-mart goes under there are this TONS of Min-wages jobs out there. But To let a auto company go under, is CRAZY. They Should all take a 10% cut and use that to pay us back. The Ford F-150, Chevy Silverado and Dodge Ram outsold everything for year. One year the F-150 solded 900,000+
That alot of pepole who DIDNT CARE about green cars until they had to pay more for gas. Even “green” Toyota mades gas guzzers trucks. THIS QUESTION should not be a NO NO NO to them, but a YES, but it has to save the jobs, not to save the CEOs. It when they make money again pay us back or let us have a job. Look at my state of Wisconsin, when GM shut down this factory, other factory around it are going to shut down too. So 1500+ GM worker, and now maybe 9000+ from other companies. That just the one factory.
We should not bail out the Auto Industry!! A lot of them make $73 per hour plus get a good paid for pension. The only pension we have is what we contribute and also pay for half of our Health Insurance. “The union has become entirely too powerful and are bankrupting the Auto business and making cars so expensive that middle class Americans cannot afford to buy new cars.
Did you see the big boss of the UAW on TV ? HE said , No way would they take cuts. Sound like they are really woried about thier jobs.
Absolutly we need help.
Think about this. Over ten years ago, SUV’s and trucks were in demand and they sold. Very few and I mean very few wanted small cars and they did not sale. The suv’s and trucks translated into profits for all including me where I work as a automotive supplier. i bought more products and distributed the wealth. Besides designing and buiding cars, what other industry in the United States is left. How much product comes out of China or other countries? Is this healthy for us?
One other point, Trucks and SUV’s are not going away as there will always be a demand for them. How and why would a family of 4-5 buy a pint size car to travel in? Do you buy two of them and burn more gas, money and leave a bigger footprint? Some Americans even claimed that they did not want to buy small cars because they did not feel as safe.
If you recall, banks got bailed out and you never see a tangible asset, just worthless paper when banks and investments fail. At least you can see, touch and buy a car.
What else is left that is designed and made in the United States?
Bailing out companies who have been ineffective and inefficient simply places the burden on those who have been effective and efficient. Wherein is the wisdom in giving to those who waste? In the larger scheme of things when we give to those who waste eventually more jobs will be lost as a result of not allowing the economy to find its own balance. When progress and technology are given free course the small losses are accepted as they naturally occur; and as a result more jobs are created by the efficient technology that replaces the inefficient. To say “bail them out” is to lay hold on the illogical fallacy that says, “inefficiency will create a better overall working environment.” We are suffering today as a result of not producing a more fuel efficient mode of transportation . Likely, behind the scenes, this is the result of decision makers loading their pockets with money from Opec and the likes, while pretending to represent the goals of making a competitive product.
Yes, the loans should be made to the auto companies. If millions of people loose their jobs, how many forclosures of homes will be added to the ones we already have. If we think that we are now in a recession, if the auto’s go down, we will be in a depression. We bailed out Wall Street - those CEO’s with their billions of bonus in addition to their huge wages is worse than the auto industry. Why are these Republicans trying to eliminate the middle class. I have decided that I will never vote for a Republican again. Come on Middle Class, look at the handwriting on the wall. Look at who is opposing the bail out of all these workers that would loose their jobs. Make your political decision and stick with it.
My Vote: No
Solution: Survival of the fittest. Whoever stays afloat the longest wins. The winner will be able to buy out the other two who go under and survive by capitalizing on their market share.
Advice:
1) STUDY your competition (Honda and Toyota). Honda and Toyota create reliable, simple, FUEL EFFICIENT (or electric) cars with an above average design.
2) Create a new line. One small sedan, one mid-sized sedan, one SUV, one Minivan and one Truck. You can have different upgrade options but keep it simple!
3) Stop paying workings more than they are worth.
Hmmmm! How much money is going to Iraq each month? Pocket I mean chump change.
No! There are so many automobiles sitting on the lots that nobody buys…yet the “Big 3″ keep on chugging out more and more…INSTEAD of focusing on more eco-friendly models that this planet NEEDS! And…the CEO’s of these companys make an OBSCENE income. I have had 2 Nissan autos and 1 Ford auto in the past 8 years…and the foreign models win hands down when compared to quality, longetivity, dependability, and fuel economy. When you have CEO’s making double-digit millions, corrupt politicians making deals, dealerships ripping off the public with overpriced cars and shoddy warrant service, eventually you have to face the music and pay the piper. Buy out? Hell, NO!
NO!!! LET THEM DROWN!
No we should not have to pay to bailout the auto industry!!! Not when the top executives earn the outrageous amount of money that they do!!! Taxpayers SHOULD NOT have to pay for a bailout for any industry that the CEO’s are earning millions a year and double digit millions in bonuses!! If we do bail them out, then THERE IS SOMETHING WRONG WITH OUR COUNTRY AND WE WILL NEVER GET OUR ECONOMY BACK UP DOING SUCH RIDICULOUS THINGS!!!!!!
Do they, Congress, really think that bailing them out will help the American people?? NO, it will hurt the American people!!! Instead of bailing out these huge Corporations, give that money to every American 18+, we pay taxes on that money. And the government will be getting back part of what they gave to every American by charging us taxes on that money!!! THE AMERICAN PEOPLE NEED THE MONEY WORSE THAN THE HUGE CORPORATIONS DO!!!!
How about it Congress? Help American people and America and give to us, the little people, instead of hurting us by giving our hard earned money to bailout the rich Executives that already have $$$$$!!! It is that simple, try it, and it will work. It will work much better than bailing them out!!!
Thank you for your time and if my wording isn’t quite right, I apologize. But I am so blasted upset, as I am sure many Americans are, that I cannot hardly stand the thought of it!!! BAILING OUT IS NOT THE WAY TO FIX IT!!!! And, it doesn’t take an IQ of genius level to see that!! We, the American People, all see it, surely you should too!!!!
Congress should not bail out the auto companies. They have consistently failed to address fuel efficiency and quality vs. a vs the Hondas , Toyotas, etc. Bob Nardelli of Chrysler is perhaps one of the worst managers in the country, why Chryler hired him after he ran Home Depot into the ground is hard to understand. A bailout without an exit strategy would leave the companies dependent on government handouts indefinitely. Shoud Congress however give them help, it should require the immediate resignation of all current board members and CEOs.
NO WAY!!!!!!!!!!!…..America, when I was young, it was hard!!!….seriously, I worked hard and tried to “make it”. I was a chevrolet man because my “dad said so”. Do you think chevrolet ever helped me ONCE with a reasonable deal to help me. I got smart in 1988 and bought my first foreign vehicle. I have never looked back!!! and I do not feel guilty about keeping money here so don’t talk to me about being patriotic. The big 3 executives live very well. The auto-workers were making 20-40 dollars and hour and had good benefits. The auto workers have management to blame now….not the american people. The american people need honest politicians and to work for leaders with integrity….not washington crooks who have lost touch with the people. The don’t care america. The auto workers should fail and new auto makers should bring back the made in usa pride…thankyou
NO WAY to Bailing out 3 US Auto Companies!!! We should not reward poor management! They need to file Chapter 11 and reorganize. I am appalled that the three 3 auto executives fly in on private jets to ask the US for money to bail them out. They just don’t get it. We the US public should not give money to failing companies that will just be back down the road asking for more. They need to present a reorganization plan . . . I haven’t heard of any of that. Instead, they just expected money to be handed over to them. GM executive makes $28million a year and flies from Seattle to Detroit every week . . . how is that sound business management.
I think we’ve had enough of adding debt to every working person. Bail out the tax payers!
Why isnt’ the UAW bailing the out. Why dont the union workers invest in their own companies. Why arent the auto makers listening to the costomers and start building cars and trucks that people want. We want our big suv’s and trucks but we want to be able to aford them, with higher taxes and cost of living on the way ,bailing them out will not fix the problem.
Detroit auto execs have made a thousand bad decisions (while getting rich), but the auto labor unions have ridiculous lucrative contracts (not their fault–they won them), BUT THEY WILL NOT GIVE AN INCH—WHEN THIS WHOLE THING IS GOING DOWN–THEY ARE STUPID–THEY ARE STANLEY KOWALSKI! (sp?). This BIG 3 Auto Group and the Labor Unions attached need to go BANKRUPT (even tho many many retirees will be hurt).
Yes the US goverment should provide the Big 3 and help level the playing field with Jappan and Germany. Both countrys have and always will provide $Billions for their auto companys to keep them ahead of the US in every way possible. Now ask yourself why would they do that? If you think it’s to provide YOU with a low cost vehicle your out of you mind. They do this because it’s great for their country not for the US. It keeps the good paying jobs in their country and is great for their economy. Jappan , China, Korea do not spend much on R&D (Research and Development) they barrow it from the US auto companys. What they can’t reverse engineer form the US they steal. Headline new from the New York Times “China has accelerated computer espionage attacks on the U.S” “China is stealing vast amounts of sensitive information from U.S.” “China adopting new laws that may restrict foreign access to China’s markets and keeping its currency undervalued. Jappans goverment spent $Billions to help their auto companys develop Hybirds. Why would they do that? They want to keep the good paying jobs in their country. If they could send their workers here to the US they would use them to assemble vehicles here and go around all American workers. Why would they do that? I ask you, should we replace US teachers with foreign teachers because they can’t compeat with 3rd world countrys wages? US auto workers are over paid, however they do put every penny back into America. Wish you had a little extra cash or a better paying job? Wish things are going to get better soon? Hows your 401K doing? Go out and look in your driveway or garage. If you see a Honda , Toyota, KIA , well you just dont get it do you. Dont blame the US auto worker for having one of the last good jobs here in the US. Now, I don’t expect you any of you to belive what I’m going to say next. The US auto makers built crap cars in the 70’s and 80’s. That has all changed in the last 5 years. Stop beliving what you hear and read. Go drive one, I drive vehicles for a living. I test vehicles for a living and Detroit makers great vehicles. Jappan , China, Korea will blog you to death telling you how great they are because they want your job next. Why, because it’s great for their country and they really don’t care about what happens to you. Your job or your childs job is next .
CNN Headline News did a short news listing regarding Ford and GM’s contributions to the 911 relief and recovery efforts in New York and Washington.
The findings are as follows…..
1. Ford - $1 million to
American Red Cross matching employee contributions of the same number plus 10 Excursions to NY Fire Dept. The company also offered ER response team services and office space to displaced government employees.
2. GM - $1 million to American Red Cross matching employee contributions of the same number and a fleet of vans, suv’s, and trucks.
3. Daimler Chrysler - $10 million to support of the children and victims of the Sept. 11 attack.
4. Harley Davidson motorcycles - $1 million and 30 new motorcycles to the New York Police Dept.
5. Volkswagen - Employees and management created a Sept 11 Foundation, funded initial with $2 million, for the assistance of the children and victims of the WTC.
6. Hyundai - $300,000 to the American Red Cross.
7. Audi-Nothing.
8. BMW - Nothing.
9. Daewoo - Nothing.
10. Fiat - Nothing.
11. Honda - Nothing despite boasting of second best sales month ever in August 2001
12. Isuzu - Nothing.
13. Mitsubishi - Nothing.
14. Nissan - Nothing.
15. Porsche - Nothing. Press release with condolences via the Porsche website.
16. Subaru - Nothing.
17. Suzuki - Nothing.
18. Toyota - Nothing despite claims of high sales in July and August 2001. Condolences posted on the website.
Yes, we need to help the US auto makers, your children, and all amercian workers from the loss of jobs to the rest of the world.
Yes, to a loan for the Big 3 US Auto makers. Most people are just misinformed when it comes to the Big 3 US auto makers quaility. Alot of people that posted here sounded like they have sour grapes because UAW workers make $17 per hour and they make less. For this reason they say no to any loan help and are willing to risk even greater job loss in the US. The Big 3 workers have already taken large cuts and they are getting ready to take even more. Every penny that US auto workers make are spent and put it right back on the streets of America. If you feel your not making make much money now just wait. If the $25 billion loan resuce attempt collapses it will further rattle the stock markets and raisedthe specter of Big Three bankruptcies. This will ripple through the entire US economy and claim millions of jobs across the US not just in Detroit. Toyota and Honda and other countrys around the world want nothing more then seeing the US auto makers go down. It ’s a big win for them and a huge loss to the US . I’m clueless why people would use auto workers pay as a reason to say no to any loan help. Better quailty my butt. JD Powers ranks Toyota and Honda customer experiences at their dealerships 3rd from the worst in the world. Both companys dealers explain their vehicle problems as customer or operator errors. You feel you make less money then a US auto worker and your dealership told you there nothing wrong with your Toyota. You could be that blind and will go bankrupt with them.
No we should not bail out teh auto makers. Since at least 2000, hybrid cars have been introduiced and buyers have been willingto wait 4 -6 months to get one all these years. The government also supported the cars by giving a tax credit. The auto management failed their companies, not teh workers, not Americans, not the government. I understand the employees will have to change to another job, but other companies will employ more Americans.
This is a free market economy - they do not deserve to be bailed out, but if the government feels forced to do so, then it should only be with the condition that the mangement will take a 75% cut in salary for their poor leadership and lose any termination bonus they may currently have in their contracts.
Thank you Dave! That the diffent from a US auto maker and a Japan and Germany Companies that make car here. GM, Ford and Chryslerv care, because they live here. ALL ALL ALL CEOs make TON and TON of money and make bad choices. Why should the worker feel the pain. If the big 3 goes under the CEO will still be rich and the rest of us will be the ones who feel it. When I buy a new car Im look at it only. If I buy a 2009 Pontiac, Chevy, Ford, Dodge, etc… I am looking at what those brands have been building latey. My 2003 Pontiac Grand has been a great car when I got it in 03 and still is. It has nothing to do with Pontiac of the 70s or 80s. Just like todays Hyundais aren’t the same cars they were in the 80s When they fell apart and they had to give you a 10yr/100,000 to fix every wrong with it. Do they make to much, to build these cars? I don’t know maybe some making 6.50 per hours thinks Im making to much at 12.00 a hour.
Here a idea a 2,000 tax (you pay) when you buy a car that is build outside the USA. That money would support the whole car making in the USA.
It looks to me that most of the NO votes here are from people that say they can’t aford a US Big 3 made vehicle because of the auto workers wages. So they buy Honda or Toyota that cost more and use the quality card as a reason to justify their purchase. Bashing the Big 3 makes themselfs feel better and justifies their foreign purchase. Today the quality of the US auto companys are world class and the ride and handling has never been better. JD Powers and Car and Driver have made many US auto company vehicles best in class and best buy over the last 2 years.
If you cant aford to by a $92k ZR1 Corvette then for sure you can’t aford to buy a $132K Porsche Targa. The ZR1 is all around a better vehicle, for quality and ride and handling, and dependability. Go drive both and see.
Cadillac STS V costs $71k - Lexus LS600H cost $105K
Lincoln MKS costs $36K - Hyundai Genesis cost $38k
Chevy Malibu LS costs $20k - Honda Accord LXP cost $23k
Saturn Sky Roadster costs $26k - Honda S2000 Roadster $36k
Chevy Cobalt S 30 mpg cost $19k - Toyota Matrix S 29 mpg cost $19k
Chevy Aveo LS 34mpg cost $12k - Honda Fit 34 mpg cost $14k
I have owned both US Big 3 vehicles and foreign vehicles. My dealership experence with foreign vehicles was at best very poor. When I took my new vehicle back to the dealership to take care of all the rattles it had they told me it was the way I drove. Whos the fool here? Foreign auto companys want to take over the US market. Its great for their countrys economy not the US. Stop bashing the US auto companys and get the facts. Good paying US jobs means better economy here at home. The US goverment should loan the Big 3 some cash just like foreign goverments do for their auto companys. Honda and Toyota are not US companys. I agree with Dave, “The playing field is not level” and they (foreign goverments) dont invest $Billions into their auto companys just to sell YOU a low cost vehicle. They do it for a dam good reason. Think about it!
I sent my 2 kids to college so they could both get a good paying job. Now both are spending more time in China and Jappan then at home. Both tell me thats were the good paying jobs are now. They cant get into a engineering job here state side. I guess it’s just the way it is. Kinda funny, both had asked themself should they take one of the low paying jobs here state side so they can start a family. I’m not sure what to do anymore.
We should bail-out auto industry with conditions till the loan with interest is paid back:-
1. No bonuses
2. No Dividends to shareholders
3. 20% pay decrease to all except to those making $15.00 or less an hour.
4. No extra pay to the layed off workers.
5. Increase production of Hybrid autos by 10%.
6. No private jets for the executives.
7. all vehicles should carry 10 years or 100,000 miles warranty.
8. All vehicles should include 3 years of service warranty.
Help the Automakers “ONLY” if the Big 3 get rid of the UAW and the UNION.
These people (UAW workers) make two - three times the salary than most educated people. ($30. p/ hr. - plus $$$ benefits. (usually equating to a high double digit /or low to middle triple digit salary. (I have a couple of neighbors that work for the automakers and they’re always bragging about how good they have it. The UAW workers normally are people who have no college education. Reap what they sowed.
The only way to help the automakers is to tell them get rid of the UNION and the employees take pay cuts to come in line with everyone else of that level of education. This would mean that the automakers would pay there employees between $14.00 - $21.00 per hr. Then they can pay for their health coverage like everyone else from what they get in their pay checks.
They deserved exactly what there getting.
We should help bail-out the auto industry with these major conditions till the loan is paid back including the 45% Interest (just like everyone else)
1. No bonuses
2. No Dividends to anybody
3. 25% pay decrease to all except to those making $15.00 or less an hour.
4. No pay to the laid off workers.
5. NO Striking
6. Increase production of Hybrid autos by 10%.
7. No private jets for the executives.
8. All vehicles should carry 10 years or 100,000 miles total coverage warranty, Atter 100,000miles coverage protection is 50%.
9. Why isn’t the UAW helping bail out the Big 3.
Why don’t the union workers invest in their own companies. We want our Big 8 cylinder SUV’s and Trucks but we also want to be able to afford them,
The UAW (UNION) is to BLAME for putting the Big Three (they didn’t help it though either) They are in the Red because they don’t do layoffs without paying large cash pay offs and the high pensions. It is Time to real them in and let them be a part of the real world.
It’s time for the UAW and All Other Unions to Cease and Desist.
They only one’s they help are the Deadbeats or the one’s who shouldn’t be work there in the first place.