Bailout of the Big 3

[Von Milash]

Do you agree with it? If so, why? If not, why not?

[CGM]

I agree, reluctantly. There are so many jobs at stake, the cost if they fail would be enormous. Everyone would pay a price, except for multimillionaires who don't work anyways.

In Canada, if the big three fail, estimates run in the neighborhood of 800,000 jobs lost, direct and indirect, after 5 years. That's a huge number, for Canada.

[boozeboxer]

I agree, reluctantly. There are so many jobs at stake, the cost if they fail would be enormous. Everyone would pay a price, except for multimillionaires who don't work anyways.

In Canada, if the big three fail, estimates run in the neighborhood of 800,000 jobs lost, direct and indirect, after 5 years. That's a huge number, for Canada.

I agree. What pisses me off is that Republican from one of those southern states bragging about the foreign car makers in his state and how they don't have any problems. What he doesn't say is how his broke ass state practically subsidizes these companies, giving facilities and land over for nothing. HE also doesn't realize that these companies have no retired people on the pay roll. They haven't had to make pay these costs. Well they will cross that bridge themselves.



What really pisses me off is that they bail out banks that just went out and bought other banks with no accountability. Exacerbating the problem.

The problem with this country is that it is socialism for some, and capitalism for the rest.

[pacfan]

Hundreds of thousand of job for $15 billion? It's obviously worth it, but why are the authorities reluctant? Actually, it's not that easy. The companies are going bankrupt primarily due to their inefficiency and uncompetitiveness. If they can't address the inefficiency issue, just bailing them out will be like treating a sick patient with lots of vitamins and energy drinks without addressing the sickness itself.

[boozeboxer]

Hundreds of thousand of job for $15 billion? It's obviously worth it, but why are the authorities reluctant? Actually, it's not that easy. The companies are going bankrupt primarily due to their inefficiency and uncompetitiveness. If they can't address the inefficiency issue, just bailing them out will be like treating a sick patient with lots of vitamins and energy drinks without addressing the sickness itself.

They are just uncompetitive because they have taken care of the workers they have had in the past. The foreign car manufacturers have been subsidized through research and development, and not paid for human rights violations, and pollution they have contributed for.

[CFH]

I agree, reluctantly. There are so many jobs at stake, the cost if they fail would be enormous. Everyone would pay a price, except for multimillionaires who don't work anyways.

In Canada, if the big three fail, estimates run in the neighborhood of 800,000 jobs lost, direct and indirect, after 5 years. That's a huge number, for Canada.

That's pretty much how I feel. I'd love to say that I am against it based purely on principle, but with so many jobs/lives at stake it's impossible.

[Von Milash]

Hundreds of thousand of job for $15 billion? It's obviously worth it, but why are the authorities reluctant? Actually, it's not that easy. The companies are going bankrupt primarily due to their inefficiency and uncompetitiveness. If they can't address the inefficiency issue, just bailing them out will be like treating a sick patient with lots of vitamins and energy drinks without addressing the sickness itself.

But WHY are they uncompetitive? There's PLENTY more to this....

But I'm the mediator. you guys discuss this.

[El Kabong]

I am against the bail out because I figure the government shouldn't control who has a good business and who doesn't. Also the UAW has a sweetheart of a deal and that deal is making the cars more expensive and hard for the big 3 to make a profit ALSO the big 3 went through a stretch from about 1970 to the mid-later 1990's where they made absolute crap cars.

The big 3 make very good cars now but they are still spread too thin you need Ford, Chevy, and GMC to make good cheap cars and trucks for your average working man but Saturn?!?!?! Do we really need them? The same goes for the luxury cars all we NEED is Caddilac and maybe Buick.


The big 3 just haven't run a smart business and I doubt the government getting involved and hamstringing what type of cars they can make is going to help things out......Chapter 11 would have been the best option.

[boozeboxer]

I am against the bail out because I figure the government shouldn't control who has a good business and who doesn't. Also the UAW has a sweetheart of a deal and that deal is making the cars more expensive and hard for the big 3 to make a profit ALSO the big 3 went through a stretch from about 1970 to the mid-later 1990's where they made absolute crap cars.

The big 3 make very good cars now but they are still spread too thin you need Ford, Chevy, and GMC to make good cheap cars and trucks for your average working man but Saturn?!?!?! Do we really need them? The same goes for the luxury cars all we NEED is Caddilac and maybe Buick.


The big 3 just haven't run a smart business and I doubt the government getting involved and hamstringing what type of cars they can make is going to help things out......Chapter 11 would have been the best option.

Is this Fox news's report?

[Spicoli]

We are in a world of shite but I agree with the automotive bailout.That extends faaaar beyond the immediacy of the production lines and the job loss and enormous economic hit will be felt internationally,not just domestically.Manufacturers can do alot by dedicating more to a solid competative product that can compete with foreign autos consistently.

Besides..........my shites still under factory warranty .Need to make sure that its honored

[Andre]

Hundreds of thousand of job for $15 billion? It's obviously worth it, but why are the authorities reluctant? Actually, it's not that easy. The companies are going bankrupt primarily due to their inefficiency and uncompetitiveness. If they can't address the inefficiency issue, just bailing them out will be like treating a sick patient with lots of vitamins and energy drinks without addressing the sickness itself.

Too right ,the quick prop ups will snap and others will be needed again and again until the greed that caused this problem to happen in the stock markets is slowed; but look there is good money to be made there right now as some of the blue chips regain their hold,so its off on the old cycle again.

Greed eventually breeds panic, cant see anyway out myself.

[El Kabong]

Is this Fox news's report?

Hey I didn't blame just 1 group, I thought I was pretty fair in my view. Please explain what is wrong with my view.

[luvfightgame]

I am against bailouts to begin with, but if you bailout fucking banks and maggot insurance companies, you might as well bailout the people that actually worked for their money. Fuck all banks and insurance companies.

I seriously think we need to kill all top level bankers. Fuck them, they built this time bomb, they detonated it, they profited from it all the way through. Fuck em......Kill em, then fuck em.

[Wadeb_21]

In away I'm for it and in away I"m not.
The reason I'm for it is because 1 in 10 jobs in the US have something to do with the Auto industry, it could be sales, manufacturering, parts, auto insurance and many more. If they don't get the bailout all those jobs are going to be lost and then this country is going to be in a world of shit, if it doesn't happed we are definitely headed for another great depression.

Now on the other hand I'm against it because if all three go bankrupt, what this does is it will void all the contracts that these companies have with the Unions, and then both sides can come up with different contracts that fit both sides. Some of these Union guys are getting paid 85 to 100 dollars an hour compared to Toyota and Honda which there guys are doing the same exact job and getting paid much less somewhere in the range of 35 to 55 an hour.
I also agree with Lyle in the fact that we don't need our government getting involved and telling the big three what kind of vehicles are going to be made.


So in away I'm torn between the both views. I don't want to see our country go to shit but then again it might just be the best thing for the top three. I really don't know.

[Wayne]

I am against the bail out because I figure the government shouldn't control who has a good business and who doesn't. Also the UAW has a sweetheart of a deal and that deal is making the cars more expensive and hard for the big 3 to make a profit ALSO the big 3 went through a stretch from about 1970 to the mid-later 1990's where they made absolute crap cars.

The big 3 make very good cars now but they are still spread too thin you need Ford, Chevy, and GMC to make good cheap cars and trucks for your average working man but Saturn?!?!?! Do we really need them? The same goes for the luxury cars all we NEED is Caddilac and maybe Buick.


The big 3 just haven't run a smart business and I doubt the government getting involved and hamstringing what type of cars they can make is going to help things out......Chapter 11 would have been the best option.

Lyle, nobody is going to buy a car from a company that has declared bankruptcy.

And well before the current crisis the Big 3 have been making excellent cars that are every bit as good in quality as their Japanese counterparts. The truer problem comes from them already being in manageable difficulties and then the economic crunch that had nothing to do with them that affected everyone.

It's not a bailout so much as a floater loan for them to get by until this mess ends. I don't think they're being totally honest and they can't be because they don't know how long it'll be, but it's not really different than any individual who gets a floater loan and eventually pays it back with interest. Considering the long track record the Big 3 have in this country with pretty much driving the American economy I don't think it's out of line to ask for a loan to be paid back with interest.