Detroit Bailout.......good?.....bad?.......

[Mafesto]

Does anyone else feel that no matter what amount of money we give them,
they will be back for more in 6 months?

Throwing money at this sinking industry will not change the fact that people
are not buying vehicles right now.
Furthermore, anytime taxpayer monies are used to bail out a company or industry,
there should be ABSOLUTELY NO salaries above $50,000, and EVERY WORKER
should take a pay cut.
After all, that's how it happens in the real world when responsible companies
try to right their own ships.

Can anyone else see that the #1 problem in the auto industry is over production?
They were in trouble long before the economic meltdown.
Why on earth would throwing billions of dollars at them magically solve anything???

Lastly, if we are going to throw money at this problem, how about allowing
all vehicle purchases to be tax deductible?
That would prompt millions of us to buy new vehicles which frankly is the
medicine this ailling industry needs.

I believe the auto makers have overproduced themselves into a situation
that has devalued new vehicles to a point below where used vehicles should
actually be. We all know what that means for the value of our used vehicles.

Sorry for the rant, but these bail outs have me so damn frustrated when the
root cause is not even considered.

Please correct me if I am missing something.

 

[xrated]

Bad.

 

[AmericanOutlaw]

BAD!There's lots of companies out there struggling.Where will it end?I realize lots of jobs are at stake but it is a business.Somehow I doubt the CEOs of these companies are taking cutbacks to help the situation.Why should taxpayers,alot who cannot afford a new car themselves, bail out a poorly run company?

 

[ruffryder]

Bad... let them sink like a rock... Might get one good manufacturer out of them if they all merged together... They did it to themselves.

 

[jsledder]

I've mixed feelings on this....

One hand you've got top level exec's making gross amounts of money and asking for a bailout. Another hand you've got hundreds of thousands of working class Americans depending on a paycheck, not to mention thousands of small businesses that have the potential of going under if GM does (small time car lots, manufacturing facilities, etc..).

A "bailout" sure helped Chrysler when they were on the brink of failure, and they paid the government back in 4 years. (best case scenerio)

I don't like the idea of us bailing out these big corporations any more than the next guy, but something has to be there for all those people that get canned when it doesn't happen.

I think the answer is to get the media to stop scaring the hell out of us and maybe people will start buying again. I don't think things are near as bad as the media makes it out to be and when you hear that the end is near you will tend to tighten your belt till you turn blue.

I think GM can find a way out of this themselves, if they really wanted too, but I doubt any of the Exec's have what it takes to make the sacrifices needed to save it, they are just sitting back waiting for a check cause they know it'll come.

 

[ArcticBoy]

What! If I was them I would just file for bankruptcy then bust the unions and cut the costs first. This is one of Obama's payback groups it will be interesting to see if he bails out the unions that had a major hand in getting him elected. Just don't try and make a buck on low stock prices now or the Gov will come in and take em over and screw you like they did with the banks. Paulson is on the news now and is sweating like a pig!

 

[Abominable]

Any assistance to the auto industry should be in the form of incentives for the consumer to buy like the tax deductions already mentioned or below market rate (or 0%) financing. In order for anything to work for the auto industry, the consumer has to want to buy a product, if not - game over no matter how much money you throw at it.

 

[Himark]

I could type a book on this but i wont.....answer is:


BAD

We need new opportunities and with these dinosaur monsters blocking opportunist we wont get the innovation we deserve.

 

[maluchm]

WOW.... Didn't AIG just get their second or third lump sum?

 

[Beels]

Bad... let them sink like a rock... Might get one good manufacturer out of them if they all merged together... They did it to themselves.

Not that I'm in favor of handouts, but when all the competition is gone, what's going to happen to prices on the consumer end? Not to mention the hundreds of thousands to people heading to unemployment at almost every level of the industry?

 

[maluchm]

We need new opportunities and with these dinosaur monsters blocking opportunist we wont get the innovation we deserve.

Daimler excluded,these are the ones who developed the automobile in the first place! With them gone or broke, who will step up and have the technology to develope Fuel cell, Electric, Hybrid cars and trucks here in the US? 5 -10 years ago everyone was sceeming buy american and now everyone wnats them gone?!?!

 

[offroadmatt]

The real problem as previously mentioned is the media. They only let you see the bad. This is a good topic, I'm going to have to get some popcorn for this one.

 

[offroadmatt]

Very Very Bad, nobody is going to bail out the little company I work for if it was to go under, Even though the taxes from this company make up most of the county taxes.

 

[winter brew]

If the big 3 WERE to go under, what would we tow a big enclosed trailer with??

 

[maluchm]

If the big 3 WERE to go under, what would we tow a big enclosed trailer with??

4 cylinder compact with the fart tube muffler and a six foot wing!

 

[Beels]

The real problem as previously mentioned is the media. They only let you see the bad.

Very true. We're seeing that in Saskatchewan as well, where the economy is still full steam ahead and most economists claim we won't feel the hit here near as bad. When the media keeps tossing the economic gloom and doom at you daily, you start to believe it.

 

[redlineguy]

The main problem is the unions They KILLED the Auto industy. Yes it is Part the MFG's fault for bending over for the unions when they had the money and were fat and Happy never looking ahead.

And before any union people jump on me tell me this, why can the Jap Co's run there co's in the USA and make money on small cars??? Because there NON UNION.








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[redlineguy]

Bad... let them sink like a rock... Might get one good manufacturer out of them if they all merged together... They did it to themselves.

I hate to give them money, Belive me!! ( I think GM and Ford should tell the unions time to cut the Bennies or we will shut down then you get nothing!! Then ask for help from the GOV but stop the bleading first.)But it would take out MANY other co's aswell if they go out. I am owed over 40K right now form a Big CO that suplys the big 3, There out over 110 day as of today, They are not getting payed and then I don't get payed. I can take the hit but there are MANY who will not make it.










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[maluchm]

They should handle it just like they did in the Lee Iacocca days! Help them with a low interest loan.

 

[TS Drag Racer]

WOW.... Didn't AIG just get their second or third lump sum?

Yes!! And they went on another $386,000 retreat in Arizona, with part of it. So buy giving these sacks of sh!t money, what has it done for us? (NOTHING) Anyone thinking the auto industry is any different is nuts! I realize jobs are at stake, but tough sh!t. I run my business in the ground or make products people don't like and aren't buying, no government come's to bail my @ss out! This is getting to be a bunch of PIGS, with their snouts all in the troph! Of course their all going to keep eating, as long as we keep feeding them!

We need to stop the bailouts and start putting some bad apples in jail! This is what's going to stimulate the economy again. It's a little word called TRUST!