Closing Arguments: Big Three CEOs Try Again

Yes, the government should bail out the big three auto makers. What is the difference between them and the banks. All have miss-used money, why did they have to come back with a plan. The same people who ran the banking industry into the ground are getting money with no reporting mechanism I am tired of all the politics All of these industries play important roles in our economy. I think all of the need more regulation. All de-regulation has gotten us is higher prices and a contract for everything you subscribe too. I personally am sick of 2 year contracts for everything from phones to electricity.

If my company does fails the government will NOT bail me out.
However, the auto industry is a key factor in our defense system, so yes, we have to bail them out, however, fat shpuld be cut ASAP and driving to Washington is NOT enough it is just a jester.
The strings should be ropes and if they are not then we have only ourselves to blame, we elected the officials that are going to give them the money. If the auto industry goes the way of the steel and coal industry we have made a mistake, if not congrats.
No one should be paid if they do a marginal job, a company cannot pay salary and benifits that are not competative with other industries.

Why bail them out? They have done nothing since their “bail out” President Clinton signed off during his tenure – to develop alternative fuel vehicles (now allowing Toyota and Honda to lead the way!), indeed, they would be more competitive after claiming bankruptcy reducing the power of the union who have essentially tied the hands of any development of a cost competitive car. shame on the unions for allowing this to happen, and now you ask for help. Its all about greed for the lazy.

We should absolutely not bail out the big three automakers. They need to merge and/or work something out among themselves and those corrupt unions or face the bankruptcy courts.
Yes, suppliers and dealers may end up getting hurt but the answer is not a government bandaid. How else will our Country learn?
A bailout is taking my money and giving it to a failed industry. My father taught me personal responsibility and accountability and I’ve failed and suffered the consequences at times. This should not be any different.

It’s crazy, let them file Bankruptcy, like all of us would have to do. If we did’nt engage with so much imports, this country would survive. This is AMERICA an independant nation what did we allow to be done to us?? Basically import infiltration (R A P E )! And on and on and terrorist etc. We need to stabilize our countries backbone, while we still have a country!

The Federal Government should definitely give the American Auto Industry the Bridge Loan they are requesting. The alternative would be much more costly and devastating,not to mention the impact it could have on our national security. Who does the american people think made our planes,jeeps,tanks,machine guns and other military equipment during the two world wars and Korean war? Most of the manufacturing was done by the Domestic Big Three.

I don’t think we should bail them out. Maybe if all American citizen’s were given money to buy a new car and also to pay off there mortgages it would help the banks and the Big 3. Just a thought. It might change things about the government bailing everyone out.

HELLO I HOPE YOU DO READ THIS I JUST WOULD LIKE TO SAY THE GOVERNMENT NEED TO GIVE THE WORKING MAN AND LADY’S A BELLOUT SO WE CAN PAY OFF THE HOUSE THE CAR AND CRIDIT CARD BILL AND SAY TO HELL WITH YOU CEO’S THERE’S NOWAY NOBODY IS GOING TO WORK FOR A DOLLAR. AND THE GOV. THINK HE WILL HE’S A DAM FOOL TO. TANK’S

I think we should let them bail themselves out as much as they can. Starting by selling the private jets. Helping someone one that is not trying to help themselves is just crazy.

I can support assistance to these three companies, but only if their respective business plans demonstrate long term competitiveness and viability. My concern is that our congress are looking for somewhat weak excuses to lend the money.
As a small business Healthcare CEO, I offer our congress three questions that need to be answered in order to insure viability.
1. Are the new products competitive, both domestically and globally? I would be the first person to drive an American car if it is priced competitively and satisfies my person desires. I have owned Honda Accords ever since my Escort electrical system went bad at 51,000 miles and it was not repairable by the dealer that sold me the car. It’s not just about electric cars.
2. Are there plans to insure the products will be built with quality and long term durability in mind? I believe Chrysler “gets” this message. GM and Ford, remains to be proven. However, I will say this. At the heart of the American auto industries lack of leadership in quality is the lack of adoption of bottom up management. Toyota is tops for one main reason, their adoption of Lean Principles. Without true bottom up quality, our auto industry will continue to fail in this effort.
3. Are there mechanisms for truly lowering operating costs and making the hard decisions related to all personnel? The expectation of plant closers are fixed cost reductions. They do not impact marginal costs, which is the American auto industry’s greatest problem. The real crux of the problem has been flashed in front of us for many weeks. The average UAW worker is compensated $73/hr, or $151,840 per year, as opposed to $48/hr by our more competitive foreign owned domestic plans. The UAW pay for the average plant worker is $20,000 less than what the average Family Practitioner makes. It is almost what a congressman makes. This is absurd. The health benefits to retirees are another area. Until there is a way to lower the marginal cost, the industry is destined to fail.
Today, I heard Congresswoman Pelosi say that “Bankruptcy is not an option”. If they approve these packages without attending to all three of these requirements, Bankruptcy is inevitable. Please be responsible with our money. If these companies can cut it, lend the money. If they can’t, let one or more go bankrupt and see how this company emerges.

no i dont want the gov’t to hand out any more money. where does it end? i mean we the tax payers are not being helped at all by any of this so called bailout as stated in a video clip on this website earlier today. i think they said that less than 5% is actually going to the taxpayer, so it really isn’t helping us at all. And as far as the ceo’s taking $1 salary. Well that’s just a meaningless statement. They are already millionarie’s anyway. so for them to even say something like dat is a slap in the face of all struggling middle and lower class hard working americans.

To me it is like throwing good money after bad. Why reward those that have mismanaged their finaces and lost their shirts. They should have to deal like the rest of us. If the people of this great country thought the easy gravey train was going to last for ever…then I guess we were only fooling our selves. Other great governmental organization that have gone before us have topled and fallen from worldy grace over the centuries because of similar mismanagements. What gave us the false impression that we would not have our demise? Being the smartest and at one time the wealthiest country…why could we not lear from the errors of the past?
I had had my say …none of them..auto companies or any other mimanaged groupes would get rescued..and their leaders should use their own personal funds to bail out their enterprises…even if it means selling the family home and cars to do it.

No more bailouts! Chrysler was bailed out once before and did not learn a lesson. So NO. Let them file chapter 11 and reorganize and do away with the high cost of doing business. No one bailed me out when I had to shut down all three of my companies. Sell a product that’s reasonable and fuel efficient you are going to have to compete with Honda, Toyota, Suzuki, and Subaru.

This infuriates me!!! Let’s just take this into consideration: While Ford Motor Co. may be losing money in their North America Division, this is not the case in their European Division, South America nor Canada!! So you mean to tell me that they actually want a “bailout” (which is exactly what it is), from a country they BAILED ON?! They gave away U.S. jobs to other counties!! They bailed out on American Auto Workers!! Return the jobs and then we’ll think about it!! Where is John Stossell!?!?!?!?!? GIVE ME A BREAK!

Why pay for the guys drinking Champagne and eating Lobster? Staying in million dollar homes, and retiring on million dollar incomes. Make them sell their homes, and settle on smaller incomes. They need to live like the people who they are robbing. I’m tired of bailing out rich people. I have trouble buying medicine and taking care of myself. I am old and sick. I need help; but no one pays my bills. But the richer you are; the more the government wants to help them out. Why? Rich people spend money on wine, paintings, and entertainment. They have money to burn while the poor does well to eat and keep a roof over his head. Why should the poor keep the rich rolling when they mess up. Let them live like I do, without a pension or luxuries.

The time for accountablity from the big three auto manufacturers is overdue. A loan or bailout will not change the poor behavior of its executives and frankly the unions as well. I am sure that if they fail, new innovation with be the result. And frankly, while I am glad to hear the CEOs are driving hybrids to Washington instead of traveling in their private jets, they missed the boat again. Car pooling or taking mass transit would be the most appropriate. Take the buck cut and figure a way out without having the American taxpayer bail you out.

when toyota was designing the prius, G.M. was designing the HUMMER. With forsight like that, let them file for bankrupcy.The U.A.W must be put in it’s place.

Give them the money to save the jobs of the workers so that they don’t suffer from this, but, also, include about $500,000.00 for me as well, since I too am in need of a bail out. Is that all I have to do is draw up a proposal to why I need the money? The rich stay rich and the poor get to watch like always.

leo I like your idea, too.

ABSOLUTELY NOT! I don’t totally agree with what the government did with the banks either. If all the small Mom and Pop buinesses went crying to the government to be bailed out because they overspent and didn’t keep within their budget would the government bale them out? NO. These companies need to start at the top and began cleaning house with the ones that live very high off the hog rather than take it out on the blue collar employees who actual are making the cars, etc.

NO! What happened to “Free Markets”? Besides, NOT ALL three will go under. Ford will most likely make it, Chrysler will go into bankruptsy-reorganize and come out of it, GM will be lost, DUE TO TOTAL MISMANAGEMENT! A Government handout won’t make me or my neighbors buy a car from a dealer. A decent, fuel efficient vehicle at a fair price will…and the carmaker who hasn’t learned that yet won’t learn it in the future. As far as job losses, The numbers have been pumped up, dramatically, by the carmakers. Other statiscal reports show a much lower number. Ford wouldn’t even be in Washington except for the fact that they figure if the other two dealers are gonna “get theirs”, so should they. As far as job loss…an enormous infrastructure stimulus package will open a lot of USEFUL positions for many of the laid off GM Workers. Instead of wasting checks to the public like Bush did – so we could all go buy FOREIGN goods, investing in infrastructure will provide not only the much needed repairs to roads, buildings, etc…but also a couple million jobs…via the infrastructure rebuilding as well as contracts to LOCAL lumber yards, concrete providers, engineers, etc…
True, GM might go under, Chrysler will probably go into reorganization and have to renew their contract with UAW (which means no more “perks” like the job banks, which pay laid off workers 95% of their pay for two years at a time!), and Ford will survive, and learn from this no doubt. Bailing out the banks with no limitations was a Massive Mistake, doing the same for the Carmakers would be Dejavu. I like Obama, voted for him, but worry that he may feel the need to support the carmakers because of the Union Support in the election (I’m also a union member). The truth is, he may “owe” the unions, but he owes the country as a whole a much bigger debt. Let the markets take their course with the Carmakers, because they aren’t going to change their ways when my hard earned tax dollars are handed to them. The carmakers that do survive will realize that they HAVE to run their business efficiently in the future, with gas efficient vehicles, fair (not outrageous) wages, etc… Then, work Hard and Quickly on the Government Stimulus package, which will fix our Own infrastructures (instead of just foreigh ones!), provided jobs and income to American Workers! NO on any bailout!

the reason u.s. auto makers are in trouble is because of the unions. you can’t pay unskilled labor $30 an hour and make money competing against the non-unionized foreign makers who are flocking to the u.s. sucessfully. The labor unions are a thing of u.s. history, beneficial in their day, but so outdated in today’s world and economy. NO for the bail out! let it run its course and we’ll go from there.

yes i think we should an i think they should help us out buy dropping there prices on there cars an trucks and to give the people a second chance at owning a new car5 are truck and the big 3 CEO’S should cut there salarys and put the money back in to there companys but they really need us to bail them out and if we do i think they should return the favor and help the people out

My business is failing due to the poor economy – where is my bail out?? I don’t think one is coming – and even if it was – I wouldn’t want it. I was raised to take my lumps – I am responsible for the shape my finances are in and I will need to WORK my way back or find something else to do. These companies don’t share when they are making money, but they are sure looking for hand outs when they have overspent. They need classes in how to make due with what we have and how to develop a budget.

Dear Nightline, My opinion is that all of the automoile industry that is in financial trouble need too much money. Even with projection of future sales, these projectons are just that projections. I believe that all of these many entities with their handout which includes the wallstreet bunch Fannies Mae, Freddy Mac, Lehman and AIG should all be forced into chapter 11 bankruptcy. Free infusions of our tax dollars at this time would not be wise. Restruction of these companies business plan’s, looking clearly at the CEO’s and the rest of the upper eschalon need to reckonize the absurdity of their salaries, bonuses etc.
I will never understand how any type of bailouts should be acceptable. If there is any taxpayer going hungery and not meeting their basic needs. There needs to a system where they can earn enough money (no Handouts) they can survive. Millions of people work hard daily and make less in a week than many spend on frivolous items not needs. Of course, this is America and we should not be limited from progress, however, these bailouts are not earned nor is it helping the country overall.

Why does everyone equate the bailout (gift) with no strings attached the the Financial industry with the request of the Big Three for a LOAN? In 1979 when Lee Iacocca went to Washington asking for the same type of loan, the same feelings existed. Chrysler did receive a loan for about $1 billion. They paid it back 7 years early and ended up paying you and I, the US Taxpayers, over $300 million in interest.
I have worked for Nissan for 19-1/2 years in the Detroit area. I can GUARANTEE you that if ANY of the Big Three were to go under, the ripple effect on the WORLD’s auto industry will be catastrophic!
What never is reported by the main stream media is how inter-twined all of the world’s automakers are, especially through their suppliers.
All major suppliers are selling products to several different OEMs. If any one of their large customers were to go bankrupt, the suppliers will either suffer greatly or follow them into bankruptcy as well. If GM goes under, it is very possible that their major suppliers like Delphi, Lear, JCI, Visteon, Yazaki, Bosch and several others will suffer greatly and likely face the same fate. That will then cascade to the other OEMs both US based and foreign based.
States that think they are impervious to this because they don’t have Big Three companies with facilities in their states are not looking deep enough.
Tennessee has plants from Nissan and GM (Saturn)
Mississippi has Nissan and soon Toyota.
Alabama has Daimler, Honda and Hyundai/Kia.
Kentucky has Toyota, Ford, GM (Corvette).
Indiana has Subaru, Isuzu, Toyota, GM and soon Honda
South Carolina has BMW,
Texas has Toyota
California has NUMMI (a joint venture between Toyota and GM building for both).
My point here is that this is not a Michigan or Midwest issue, it is a national issue. The current estimate are that 10% of every the job in the US has some affiliation with the auto industry. That is way too many jobs to put at risk.

The billions that are in det for are sitting on the lots across America,ones I cant afford.The Government should give the money to the tax payers that put it their. Could any one comprehend how fast that would turn our economy around.

I absolutely do NOT want the auto industry “bailed out”. Chapter 11 bankruptcy should be their only option. The unions who have destroyed so many of our industries by demanding more and more money and “perks”, striking when management balks over the union’s demands, will be decimated. The “Big 3″ should merge into one and work to produce cars with renewable energy which should have been done years ago.
Before that can be done the auto industry must declare bankruptcy and begin to reinvent themselves – merging together would help them all out and they can plan on building hybrid cars when they are reorganized and have a plan in place that works.
Yes, people will lose jobs but we are ALL losing jobs in every State and city. The workers who lose jobs will be glad to come back to work and get paid $47/hr as opposed to the $87/hr they got when the union was in power so finding skilled auto workers won’t be hard when the company begins to increase their output.
With the economy as bad as it is right now, we the taxpayers, the working class poor can’t afford to by a used car – let alone a new car so why throw billions of dollars to the auto industry to build more Hybrids when we can’t afford to buy them ? They will survive while going thru bankruptcy without any financial help from the government – let them prove that by denying them the bailout.
Bail out the taxpayers who are losing their homes to foreclosure – these are the people who really need help and aren’t getting it !
This “bailout” was pushed onto us because we the taxpayers were told we would be helped with OUR economic problems. There has been no help for any taxpayer yet and I doubt there ever will be. It’s rather obvious that the bailout was for the very rich — not the working class poor.
We need a few things changed as far as how the government handles our tax dollars. We should have a say in where this bailout is going as we are paying for it – and we need the government’s, Federal as well as State to have to show accountability. They should post the amount of money that they intend to spend and then post a list weekly of where the money went and how much. Strings need to be attached to any money going out to corporations and banks so the money isn’t swallowed up by CEO’s and other corporate crooks. The government has failed us badly in this botched up “bailout” and they neeed to admit that and begin changing how they do things now. It’s a nice dream but I doubt it will ever come to fruition as crooks and corruption will continue to be around and it will be “business as usual” as soon as someone gets “bailed out” – and the working poor are not being bailed out – just the crooks.

I posted on the other page that we should “bail” them out, but not as a giveaway. There are as many as three million jobs at stake, and anyone who believes the loss of three million jobs at one time won’t take more with them has his head in the clouds or in the sand.
But we should never give the money away. First, the government should demand a curtailing on corporate travel, insisting that executives forego the jets regardless of what it means about their productive time. Apparently, most of these clowns haven’t been doing much with their time in the last, oh, 20 years.
Second, we must insist they replace high-level executives. Did you see what GM did to the Volt? It totally emasculated the car from low-profile, mean-looking new design to same old stock, Malibu-style dreck. GM’s excuse was that the design change was needed from the concept in order to get the batteries to work as promised; I say they simply took the easy way out.
Third, we must demand repayment of any bailout with interest, as we did with Chrysler in the 1980s. If we don’t, the companies and the idiots who run them (hopefully soon to be “formerly ran them”) may very well burn through the cash with nothing to show (i.e., business as usual in Detroit).

Don’t the car manufacturers get it? We don’t want the cars they have for sell!! The public need cars that are economical to drive and priced right. Personally we currently have cars that get 32 mpg 40 mpg, and a pickup that gets 13 mpg– which stays in the garage!! We’re looking for a car that will get better mileage, is economical, with the newer technology that will help the environment and not depend on foreign oil so much.
With all the good years the CEO’s have had, if their salaries were in line with their workers, instead of the major bucks, the bonuses, the other perks–it’s possible with effort, things could turn around!
Sell what’s on the lot for less, build better and keep trying.

The Japaneses and German governments support their auto makers financially. The Toyota Prius was completely financed by the Japanese government. GM, Ford, and Chryler would kill to have the kind of tax incentives that Toyota and Honda have enjoyed in the USA. Toyota and Honda do NOT pay for health care and retired employee costs as do GM, Ford, and Chryler have been saddled with. If you are a Doctor or RN driving a Toyota, you have voted for nationalized health care. From reading the posts, one can assume that most of the respondents hate the big three regardless, never mind they are have been weighed down by the health care, retirement, and waged costs.

I think if we are going to bail them out they need to build electric cars. They all have Hibreds but not one is propelled by electricity. With onboard charging and digital electronics, batteries would only be needed for stability and there would be no range limits. You will still need fuel to make the electricity, but for this to be successful there will need to be advances in charging systems. They need to be smaller, more efficient to fit in the vehicle and produce enough electricity to propel it which is about the same amount needed to power the average home. Magnetism produces resistance but with mechanics we can make the resistance hardly noticeable. GM should explain about the EV-1, why was it ditched? If the big three file bankruptcy that doesn’t mean they are done. 25 Billion won’t get them far. I think Americans are waiting on the electric cars to come out. None of the automakers can produce them soon enough. Don’t we as a Americans want to lead the world again with new technologies? Do Americans want to buy into companies that are not competitive because they keep using old ideas? It is hard to say if we should bail them out? I think we should just let time run its course.

I am 65 years old and sitting near my wood burning stove to keep warm on this cold winter night reading all these posts. How many of you know the pain of having to cut firewood to keep warm because you cannot afford another utility bill? How do you think that firewood gets transported from the woods to my home? If it wasn’t for a Chevy, Ford or Chrysler pickup truck I would be cold right now. Don’t you people realize that the Big3 are part of our heritage? I mean why do you think America has always been so rich in the past? You can drive your Toyota or Honda for getting from point A to point B, but try to take a family road vacation in one of them? That’s a joke. Do you know how hard it was for Unions to get going in America? Do you even realize all the suffering that was part of it? Don’t down the unions and don’t down the Big3. Get behind them now before it’s too late.

I think all three auto makers should fail, the banks should fail, and and the bail out money should all go back to the people where it came from so they can pay their bills, prevent foreclosure, save their cars and pay off debt. That way the economy will rebound from the bottom up and those that made bad decisions will have to reap what they have sewn.

My suggestion to Congress is…instead of giving the money directly to the Big Three why not give $30,000 (give or take) to each US Citizen that drives a car that has 100,000 or more miles on it or that is more than 10 years old so that person can purchase a new car from one of the Big Three. The citizens would have a new car, the Big Three would be depleting their current inventory and could use the influx of money to retool to make more efficient autos. It’s a win, win situation. The Taxpayers aren’t directly bailing out the automakers w/free money.
I drive a 1994 Chevrolet Caprice with over 127,000 miles on it. Still runs great and looks great. I’ve been looking for a new car for 3-4 years but haven’t bought one because the American cars aren’t rated good and do not get good gas mileage. If I bought one, it would be a Honda or Toyota but I just can’t do that because my neighbor works for Chrysler. I would feel terrible buying a foreign made auto for that reason.
While I was typing my comment, I see someone mentioned giving each American that wanted to buy a car $10,000. That would work also. Anything to help the struggling taxpayers and the auto industry at the sametime.

After the trillions we have given away with virtually NO STRINGS to the finance industry I feel it is an outrage that we would begrudge a comparatively small loan to our most basic native industry–automobiles.
What is the good of Obama’s stimulus package to build roads etc if we throw away so many existing jobs? And why has the media flogged Detroit so mercilessly for so many years? Have any of you actually driven an American car lately or seen what they have achieved? I have NEVER had a maintenance problem in the past 18 plus years of driving Ford cars. The idea that our cars are “trash” is absurd. Our own companies have so many good things going for them–including better mileage every year, green, flexible use factories, more interesting designs and colors than the rather boring foreign cars etc etc.
Detroit should get loans. But more importantly, why does no one talk about giving the AMERICAN PEOPLE a bailout and helping Detroit at the same time?
Let’s have the government encourage the sale of American cars so that our citizens will find out for themselves that Toyota and Honda are not the only game in town. The best bet for Detroit and the taxpayers is to get our own makers’ cars off the lots with concrete incentives.
This could be done with $5000 or more in tax credits. Currently, there is NO write off for car loans– as there always used to be–not so long ago. If we give car-buying dollars to ACTUAL PEOPLE at least we taxpayers would come away from the economic shambles with SOMETHING to show for our money! It would be so much better than simply owing $25,000 per person to pay back the trillions.
Pres. Obama wants new infracstructure? How about renewing the infrastructure of EACH American Family by giving those families a chance to own a new American made vehicle at a big discount? If the depression continues (let’s face that it’s NOT a recession, folks) many families who need cars will be out of luck as theirs break down.
So—-A chicken in every pot–and a new AMERICAN CAR for every family!
I am not against foreign cars, and do believe that the auto industry should have adapted sooner. The entitlement of their CEO’s has been ridiculous.
But let’s put INDUSTRY on a fair footing with FINANCE. Where was Congress in all its wisdom when the heads of CITICORP got their billions last week–NO STRINGS ATTACHED? Or when AIG got the second gigantic bundle?
Should American industry and its labor, the TOP WORKERS in the world in terms of productivity–even beyond the Japanese–be SCORNED by our own CONGRESS? And by the American media? Where are the media STORIES about what American makers are doing RIGHT? Where are the STORIES from WORKERS and OWNERS?
How come Detroit is the scapegoat when it should be AIG and Bear Sterns and the CEO’s of Citicorp, Moody’s, Fitch and Standard and Poors that need to be called to account? Even Rubin, Summers and others selected for the new administration are implicated in the rush to de-regulate.
Given the context, the shaming of Detroit feels like a HUGE diversionary tactic meant to excuse the major culprits—AMERICAN FINANCE–whose dishonesty with phantom “instruments” has shrunk or eliminated the retirements and savings of people worldwide. At least Detroit PRODUCES SOMETHING TANGIBLE!
But FINANCE is too ingrained with Congress, it would seem, to get its true comeuppance. Too many dollar-strewn roads (and ledger sheets) may lead to the Capitol?
Can someone please explain what is so BAD about auto workers being well paid when they ARE very productive and their work force is already reduced? Should WALMART be the model of USA work compensation for all our citizens? It’s obvious that Republicans—who control States where more foreign cars are made –like the new Toyota factory in Texas—want to BREAK the unions that reign in Michigan and elsewhere. They are frothing at the bit for bankruptcy b/c that will nullify labor contracts. Romney’s letter to the TIMES makes this clear. And– if labor does not cave to the demands for “re-structuring,” auto workers –and not the auto CEO’s–will become the next media scapegoats –for what is actually a failure of the FINANCE industry.
What a neat sleight of hand. Supposedly “Finance” is too “complicated” for the average American to understand–what with the Alchemy of credit swaps and of junk mortgages that were graded to triple A ratings through lying schemes that masqueraded as MBA logic.
Instead of blaming the true culprits, it would seem that the media, administration and some in Congress are getting ready to do the easy thing—find a SCAPEGOAT! Let’s make Detroit, its workers and stockholders pay the huge debt social and credibility debt actually owed to the American people by FINANCE. In fact, let’s wage a class war, so that people who MAKE things (industrial workers) are forced to take the blame for the havoc caused by those very moneylenders who have squandered the fruits of American (and global) productivity.
By this logic, many of the very blue collar citizens who are paying for the bailout of FINANCE get blamed FOR “demanding too much from the system.”
The elite, White collar workers of FINANCE do not NEED unions to negotiate for them. They have the head of TREASURY making unilateral calls to open up the presses and print more money on demand.
Indeed, it looks to me as if Paulson is anxious to throw every penny he can to friends in the FINANCE INDUSTRY before leaving office. After all, Goldman (his former company) has become rather needy of late. And, giving away so much money to FINANCE, means there will be no money left in the Treasury to help Detroit– OR put together a work stimulus package that would “grow government.”
On another point. I am puzzled by the valorizing of foreign cars by the media. And the lack of coverage given to the American car industry. Only PBS seems to have put together a ocumentary about our biggest industrial employer.
Do I smell collusion? We know that American makers are so strapped for cash that they currently can’t afford to ADVERTISE their new, superior products on TV –or in print — while their Japanese competitors have enough cash to foot the bill for TV and print media by purchasing expensive ad time.
So—-we now have a situation where the media could not care less if Detroit goes down, because Detroit is no longer a paying its “fair share” of tithes to the media. In this scenario, self-interest kills off honest reporting. In fact, a massive drama in which Detoit plays the “villain” or “clown” makes for good TV and sells newspapers. No matter that such a scenario may derail one of our most important industries.
For years, I have been aghast at the media bias against American cars. And now I am worried that the media are gearing up their myth-making machinery—casting Detroit as the scapegoat for this whole financial mess.
Be fair, USA media.
Forget, for one minute, where YOUR next millions as a network are coming from (Japanese car ads) and imagine where those millions COULD be coming from in a few months or a year if our native industries were to THRIVE. And we are going to need all the native auto profits and jobs we can muster to pay back the 7 trillion in debt promised given by Paulson to the FINANCE INDUSTRY.
And– even if you CAN’T be fair or have no imagination, please remember what the whole world—even Paulson and Greenspan—now realize about the Fed’s refusal to help Lehman. If Lehman had been saved– as the other financials were– we may have avoided the severity of this meltdown.
I predict that the scapegoating of Detroit by Treasury, Congress, and the media is a way to ensure that a fallen Detroit will become the industrial (and global) equivalent of Lehman.
Having indulged rather than “punished” AIG, CITI and every white collar beggar who has put out a hand, will our lame duck administration and Congress decide to punish our key industry and its workers? Even when they are actually asking for MUCH less money— and a loan, at that?
What such “punishment” could mean for American industry, our citizens and the global economy is a scenario that can only be imagined if we consider how poorly Paulson and Congress forecast the post-Lehman quagmire into which are sinking like a stone.
NOTE TO THE NETWORK: I am sending this same letter to the NY Times and reserve the right to this letter as my own work. Thankyou

I have bought Ford Escorts, they sure were not cool, but they each had well over 150,000 miles before trade. Only traded because I bored with Escorts. I didn’t even stick to a maintenance schedule, only oil changes when I remembered; and a brake, muffler change once each. No problems, and actually could afford. Currently, driving a midsize Ford, this time around, it does a little better in the “cool” crowd. I don’t care, more importantly, 31 miles per gallon(manual 4-cylin) and only oil changes thus far.

Survival of the fittest. They should let them go out of business. They just don’t seem to get it, we need more efficient cars and CEO’s that are in touch with reality. They heard the government was giving money away and they swooped in to get their share.

We really dont have any choice but somebody needs to be held accountable.As one provision these 3 CEOs need to step down.That works for me.Detriot is building garbage that nobody wants to buy and now its being forced on us with this bail out.When Toyota was doing the work to get the Hybrids to market,G.M. was retooling their SUVs at a cost of $5 Billion.

Wow, it’s amazing to read all these borderline uninformed comments from people reacting to media soundbites about the auto industry. I encourage people to read the comment from Mike Dinsmore above.
For all those demonizing the mismanagement of the domestic automakers and not having a plan…they have enacting restructuring plans already to be profitable in a typical 15 to 16 million annual sales market. What has happened is that annual sales have collapsed completely to an annualized rate of 13.5 million cars. Do you really think the Big 3 are the only ones eating the 2 million units in lost sales. No one talks about the entire industry – yes that includes Toyota and Honda – are down 30% last month. Those two companies haven’t been as vocal as they have been aided by their home countries and ours in their profitability. They do not have the legacy costs from being as big for as long as the big 3 have. their country has manipulated currency to their benefit to aid the bottom lines. Does anyone here know Toyota has been bailed out by the Japanese government in the past?
For those that demonize the unions for their cost disadvantage, new agreements have been ratified for a while that will absolutely eliminate the labor cost disadvantage. That $75 per hour figure that some of you carelessly through around don’t seem to understand that most of that figure is pension costs for the millions of retirees that their competitors don’t have. No one derides the German unions who build their precious Bimmers and Benzes who are more expensive and more demanding when it comes to benefits.
For those that cry about the Big 3 building all those SUV’s, don’t blame Detroit, pay your neighbors for buying them. Blame the US government for not having the balls to raise the gas tax in such a way to encourage people to buy more efficient cars. Car companies will build what sells. Until recently that was trucks and SUV’s. No one calls out Toyota and Nissan for their full-size trucks and SUV’s – maybe because they flopped miserably so no one cares.
Face it, the conditions that caused the car market to crash were not the fault of the Big 3. They were already trying to right size themselves for what had been the realistic market. Some of you seem to think that companies like Toyota have this great foresight when in reality the small car/ fuel efficient market was non-existent prior to the recent gas shocks. Where was that foresight when Toyota spent over 1 billion dollars to build their new Tundra plant in Texas to build what is currently the least fuel efficient of all the full-size trucks? Oops.
Some of you people here who want the Big 3 to fail really need to reexamine what you think you know about the domestic auto industry.

If Ford has 5 corporate jets, it makes me wonder what else are they wasting their money on? Sounds to me like the CEO’s need some help cutting expenses. I think that if the big 3 had not been so resistant to the feds implementing fuel efficiency standards, they would have been more able to compete with Honda and Toyota.
On one hand I say no way, the automotive companies did this to themselves in the choices they made. But we are warned of the ripple effect this will have. IF we bail them out, we need some serious checks and balances (no pun intended) on how they are using and for once not wasting the money. I say enforce fuel efficiency standards and electric car timelines for them, making bailout payments as they reach the set goals.
First Step: Cut expenses to the bone, cut many models out of production .. like hummer, suburban and other 15mpg vehicles and focus on higher production models.
Second: In exchange for receiving bailout loan, FEDs create and enforce a new minimum fuel efficiency standard, and plug in hybrid production requirements on the big three automakers.
Third: Make distribution of the bailout money in stages, as these goals are met.

Where is this money coming from?????
US Gov’t just printing money!!!
We are heading into BANKRUPTCY!!!!

YES. We need to buy AMERICAN…
Posted by: ORLANDO | Dec 3, 2008 12:19:39 AM
——————————
YES. We will buy AMERICAN if they stop making GARBAGE !!!!

How can you call this a bail out haven’t you seen thier terms…they still plan on laying off thousands of people..let me see is that really a bailout or a hand out. Is the government going to bail these people that get the ax? Yea give them the money just as we have seen the bail outs for the banks..Where is that money? Who has that helped..the fat cats that is who. Come on America open your eyes we are being hoodwinked just like the banks did..hey here is a very good idea lets take some of that great money the oil companys have made and give it to the auto makers they have worked together fdor years now they should share the wealth!!!

Their arrival in hybrid cars versus their private planes is CHILDISH MOCKERY in the least!
Even our children know that if something they are doing is wrong, and they won’t get to go or do what they want, they go and come back with the means to appease us.
And just as our children they are sorry they got CAUGHT not sorry for the mishandling of the funds and now are using manipulation to get what they want!!
Why else would they try to sneak in on their planes the first time but now are making sure the media lets the whole world know of their next arrival. DISGUSTING!
If withholding the money only affected the CEO’s I say ABSOLUTELY NOT! But the fact is it affects YOU and ME! Let alone, the thousands of people employed by them.
BUT they should not receive one dime until there are regulations put on it; regulations like NO END OF YEAR BONUSES for the CEO’s. The million dollar bonuses MUST STOP in corporate America.
Big wigs are laying off thousands of people to make sure they receive their Million Plus bonuses….it is DISGUSTING!!!
Those laid off are losing their homes with no means to feed their children or buy medicine for the sick ones, let alone buy them gifts for christmas.
But those CEO’s will be sitting up in their homes (worth millions) with their cars (worth hundreds of thousands) and planes (worth millions) with their bank account fattened by those year end 5 million dollar bonuses.
They will wake up christmas morning in their nice warm houses where there will be hundreds of gifts under their tree and their ungrateful kids wondering why they didn’t get more.
They will sit down to a feast set for kings sipping on their $500 wine and not once will the thought of all those laid off cross their mind because THEY have all THEY want, let alone what they need. The only thoughts they will have is how to make that year end bonus even bigger next year!!
DISGUSTING!!!
STOP THE DISGUSTING MADDNESS PLEASE!!!!!

YES–We should give the domestic auto industry a LOAN. The cost to Americans will be far greater if we don’t. We need to create millions of jobs not lose millions of jobs. We need more manufacturing in this country if we expect to ever become balanced, independent, and strong again. After reading many of the previous comments above, I see why many people would say no to loans…your opinions are based on misinformation and fiction! Auto workers do not make $70 per hr! They make about the same as many plumbers, electricians, truck drivers, and other hardworking Americans do and only slightly more than their counterparts in foreign owned auto companies. If you take the time to study the history of labor in America you might understand that unions have done great things for the average working American, union and non-union. Many benefits that a non-union worker enjoys are only possible because unions exist. If you get the facts, the truth, and nothing but the truth, you might see things differently.

NO to the big 3 loan. Only if their unions make substantial cuts and concessions, along with the new ‘plan’ should we reconsider.

The Big Three would love to file bankruptcy. The executives will keep their jobs and income, the rest of the USA will pay. Almost every industry that has lost jobs in the USA (textile, apparel, appliance, steel, furniture, banking,etc.) and sent their work over seas, has resulted in a increase in taxes. (Benefits to subsidize the standard of living for the lost livable wages.) About 10% of he USA has seen increased wealth in the past 30 years, 90% are losing wealth. Our government has allowed the standard of living to go in reverse for 90% of the USA. DOES BIG BUSINESS RULE/RUN THE USA? If the Big Three (the last big industry in the USA that had to pay livable wages and provide healthcare) are allowed to file bankruptcy, is this the American dream or nightmare

KISS – Keep it simple stupid!
Just Say NO!

I do hope people are hearing the CEO of GM has he been listening to Bush. Tring to use scare tactics to get what he wants..if we do not bail them out we will be in a depression…wake up America it only took the goverment to let us know that we were in a recession since last December…tells you alot dosen’t it?? Just how out of touch they all are with reality. DO NOT GIVE THEM A PENNY!!!!

“Don’t Be Fooled Again”! The Who
NO! The ‘Big Three’ should not be bailed out. Let them go BUST!
When “they get their minds right”, maybe then we can talk about helping out the “Big Three”
Tell them to generate jobs that have some ‘REAL MEANING’ for the future. NOT the “Business As Ususal” / “Smoke and Mirrors” / “BS Talking” in Congress!
Get out of the ‘bathroom’ and in to R&D room!!
Is there a ‘Better Way’ that the ‘Big Three’ have to propose? YES!
‘Solar taxi’ goes round the world!
http://news.bbc.co.uk/2/hi/science/nature/7766249.stm
hmmmmmmmmmmmmmmmmm
“Don’t Be Fooled Again”! The Who

Personally, I am concerned for all the people working in those car factories and car dealerships day & night. I would hate to see any of them lose their jobs because of what it would do to flatten our economy further. Does anyone remember Lee Iacocca? When he went to Congress asking for a bailout for Chrysler/Plymouth/Dodge, he had a business plan to pay the monies back in exactly 7 years which he did. When it was done, he resigned and took no extra bonus with him. He agreed of his own idea to take no pay or compensation for one year until the banks (Northern Trust/Wells Fargo/American National in Chicago) were all paid back. These CEO’s need to do the same so we can get on with this and keep the economy going up instead of continually falling. Our children and grandchildren are watching! Our bitter infighting will fall on their shoulders and then we will have another rebelious generation to deal with. God bless one and all.

Generic viagra.

Viagra. Viagra canada. Cheap viagra. Viagra message board. Female viagra. Free viagra. Discount viagra.