Big Three Bailout: Opinion Update

Let the Japanese Auto Makers buy the Big 3…
Opposed to allowing the Chinese Auto Makers.
The Japanese make a better Engine..
The Japanese don’t have Auto Unions…
The Japanese pay around 28-30,000 on average to it’s American workers…
Its that or the American Auto industry is done for..
No matter how many Billions are given to them !!!
They did not learn from the late 70′s and 80′s about Big Gas Guzzlers and now they want to convince us, that they’ve now Learned Their Lesson …
Ha !!!
The only cars that should come off the Assembly lines in America are..
1. Electric Engines
2. Diesel Engines
3. Compressed Natural Gas Engines
Hybrids are a waste of Time.
Note: Europe uses a large amount of Diesel Engines. Mercedes will soon release a Hybrid Diesel-Electric Engine.
Diesel Engines are better to the Ecology and they don’t burn fuel so easily.
If we are going to continue to use Big Gas Guzzling Vehicles, they must be Compressed Natural Gas Vehicles, all Big Vehicles, should strictly be ran by Compressed Natural Gas.
Note: Hummers, Escalades, Various SUV’s, Big Trucks and some Jeeps, must be Compressed Natural Gas ran.
But Most of your standard American cars should be Electric and Diesel Engines.
Here in Georgia, Diesel Engines do not have to have Annual Emissions Testing, while standard fuel cars are mandated by Ga law, to have Emissions testing, in order for Ga. Drivers to get state tags.
Diesel Engines, in comparison to standard Gas Fueled cars are better for the Ecology….Period
Thats My 3 Dollars and some change insight..
Have a Nice Week

If these companies fail, the unemployment of the nation WILL skyrocket!! We can give them the money to just keep them up, and monitor their progress to see if it was truly worth it. If the companies would change their ways, things would go better, hopefully. Something has got to be done now rather than later when 2.5 million people are laid off and unable to go any where else and live off of the government. If we can supply them with what they need to just get by, change their ways and monitor their progress, things have a chance at getting better for them.

Yes, the big three have blown it, however the need for a bail out is unquestionly clear. But let’s do it right: limit the amount of money given and insist upon a time-line for improvement and recovery. If they do not recover then let them go under or be bought out by foreign interests. Just the threat of being bought out should improve their dismal performance in the past.

The opposition to the auto industry loan is due partly to the biased coverage of the news media. There has been little critical coverage of NO STRINGS ATTACHED trillion dollar bailout of ineptly run New York financial institutions. We don’t even know if those bankers have a fleet of corporate jets, and they’ve thumbed their noses at those of us that think that taxpayers shouldn’t have to pay those outragous salaries and bonuses. And to add insult to injury, these New York banks are using much of the money to buy up more banks, rather than help taxpayers in need. I can see it know. Bush and Paulsen will give the New York bankers hundreds more billions id the auto makers go bankrupt to cover their losses.

I just read this about a start-up American car company that’s going to start selling autos next year
It seems to me we should be using our $25 billion to help a whole new breed of American car companies rather than artificially propping up the Big Three dinosaurs.

If the auto makers get the loans and restructure, how does this ensure that anyone will be able to buy the vehicles thus created. I know that I will hang on to my 15 year old car for a few more years until the value of my savings and investments is restored.
With unemployment at up to 10+% the entire auto industry will be limping for years.

Today they claimed that only 10% of the cost of a vehicle is Union labor, I want to know what the % is for management then we’ll know who’s paycheck to cut to reduce costs.
All 3 of these company’s are guilty of consumer fraud. They have been producing defective vehicles for 25 years all with chronic problems from Cracking exhaust manifolds to blowing head gaskets and everything bolted to this junk.
When Honda finds an issue in field it was fixed immediatly and not left to the poor consumer 10 miles after it runs out of warranty.
I’ll be sorely disappointed if they don’t find a “Joe the Mechanic” to work on their advisory board.
Somebody who has knowledge and some common sense.

I do not wish for all the hard workers to lose their jobs. But I sure am disgusted at how much CEO’s earn. They are so spoiled and out of touch with the poor and middle class, it is no wonder they had no clue as to what vehicles to make. As a matter of fact a lot of those making dec. for all us are out of touch! So who is going to bail all of us out???
Thank fully God knows.

Some say the Big 3 are too big to fail. They’ve become too big to succeed. It would be imprudent to reward the bad business practices of the Big 3 and the UAWs greedy ways with more taxpayer money. We should let them collectively figure out a realistic approach to survival on their own. These are the best paid workers in America. Surely they can come to accept the reality that they are only laborers. As far as the strongarm UAW people are concerned, they are nothing more than parasites who steal from the shareholders and the workers while making life difficult for the business managers. We no longer have sweat shops in America. Labor unions have served their purpose. Collective bargaining should be made illegal. The Big 3 managers are grossly overpaid as well. Nobody deserves or needs multimillion dollar annual salaries or bonuses or benefit packages like we see in the Big 3. Planned obsolescence in design and manufacture have been replaced by the superior products of foreign competitors. Conditions have changed with globalization. Like it or not it’s time to adapt to those changes. No amount of government subsidizing will change the changes that have occurred. Bankruptcy, discontinuance or selloff of less popular models, restructuring, rethinking pay and benefits are all necessities if these are to become vital companies. No bailouts for private businesses. Let them save themselves or disappear. And let a valuable lesson be thusly learned for all businesses.

UNBELIEVABLE!!! Alm ost every blo, or opinion is WAY OFF on the Facts!! When the USa3 tried to tell people the facts, ALL SORTS OF NON_SENSE WAS ROUGHT UP!! Especially by ABC!! Incredible!… THE USA 3 CAN’t BE allowed to fail (OR LOSE ANMORE MARKET SHARE DUE TO clintons’ selling out THE WORKING MAN aND WOMAN!!!)>>WE , THE USA, that is, WILL BE ON THE HOOK FOR OVER $100 bilion dolllars PER YEAR OR the PENSIOn obligations, un-employment for YEARS!!(screw so-called traing–Re-education, programs!! THE us tried thes them in the early 1980s, NONE OF THEM WORKED!!!!!!!!!!!!!!!!!!!!!!!!!!!) AND AND, the estimated tax revenues LOST!! from all 50 states! Right-to-work states ARE A GOOD THING —FOR JAPAN, KOREA>KOREA>>>and GERMANY They are TRAITORS TO THE US (maybe, not the Confederate States of America!!) Gee..I wonder why they are SO adamant against the USA 3?..Could it be selby and Corker are protecting the $3-$4 Billion That the USA taxpayers paid for wealthy cos. like Toyota, and honda, and BMW–ALL ALL of which get GOVT. backed FREE Research and Develpoment $$ from their countries!!?? NICE try , GUYS!..You and rest of bankrupt Congress and thieving Wall-Street-Willies ARE JUST COVEING YOUR ##### for stealing $350 BILLION DOLLARS, most of which they don’t even NEED!!FACTS: Det. has downsized their factories for almost 25 years! fact: The UAW has cut their wages in HALF, last year! Fact:8of 10 most efficient auto plants are RUN by Ford GM, and Chrysler! FACT: Ford Quality has SUPASSED Honda AND Toyota!!! GM is almost even!! Fact: THE MOST EFFICIENT FACTORY IN AMERICA is A CHRYSLER-UAW planT!! ALL plants use only EXPERT UAW CRAFTSMEN-Women!!Fact:GM The USA 3 Tried diesels in the US the same time that the VW Rabbit Diesl pick-UP got an honest 50 MPG..ALL stoppped due to Environmentalists Bitching about the ENVIRONMENT!in the ’80s..Only recently have the USa3 and their foreign competition clened up diesel fuels–IT WASN’T THE THIEFING OIL COS.! The oil companies (RIGHT BUSH, and CHENEY?) HAVEN’T had to pay one dime of R&D COSTS! ALL was paid for by the USA3!!OVER $65BILLION JUST FOR THAT!!! GM killed off their ’80s Elect. car after spending BILLIONS of 1980 $$$ on it, because they DIDN’T MEET GOVT. REGULATIONS! AND only a few Envir-Green Party members wanted THEI ltd. range!GAS COS. wouldn’t ALLOW GM TO PAY TO PUT IN PLUGS in their gas stations! Honda and Toyota, untill THIS YEAR!, couldn’t even break-even in JapaN despite free R&D govt. $$$ THEY ONLY MADE MONEY IN THE USA !! ASIA Manipulates Currency to give THEIR carmakers’ a , at last report, an $3500 EDGE IN PRICING vs. USA#!! USA CaRS AE thousands of $$ cheaper than THE REST AND ALREADY GET BETTER MPGs IN EVEY, EVERY, Class of vehicle!! It will only take a FAIR SHOT for USA 3 to KICK EVERYONE ELSES’ ASS!! Heck!..GM is even being brainwashed , To make SURE, it gets LOANS, NOT BAILOUTS LIKE NEW YORK THIEVES!!Right, Hillary?.. JUST AS IN the 1930s Yellow Journalism (HEARST, especially!), Don’t let the facts get in the way of a good story, right MEDIA?! USA 3 $15 billion in LOANS!!!..RICHIES and Thieves $350plus in FREE MONEY -NO PAYBACKS!!

..And, Hey ABC-Polling co….If a poll were taken in 1860, or 1940 do you think Americans would have WANTED TO GO TO WAR!??? To stamp out tyranny AND RACISM?!

I would agree with the need for a structured loan agreement for our auto industry. The snowball effect from the loss of jobs would be tremendous. I personally have never owned a foreign car and never will. I buy American made products whenever possible, problem is the lack of availability in most items. We continue to import poor quality items in this country and Americans keep buying them, wonder why we have lost American jobs. Buying foreign products raises costs on American made products. US manufacturers can’t complete due to higher operating costs. Many factors to consider with the downfall of our auto industry however Americans that continue to purchase foreign vehicles only add to the problem. Now if our Government could be so generous as to cut some checks to the taxpayers of this country that have lost their jobs and face losing their homes, only then will the economy turn around.

Congress is selling the Auto bailout, like, we American people should be backing this,I say Not.Behind every Company no matter how big it is, has a owner.So handing billions of dollars over to these 3 Company’s is really giving their owners Billions of dollars.Now dont you all think these owners are allready Billion’ers.And the Employee’s are making around what 60 dollars + per hour.I make 8.50 per hour, I need to be bailed out, not some company who is allready a Billion’er, or not even its employee’s who make 7-8 times more per hour then I do!

Why give the money to the auto makers? give it to the tax payer in the form of a $20,000 voucher or more only good towards the purchase of one of the BIG THREE’s cars that way it helps everyone. What good does it do to give all that money to the auto makers if they can’t sell cars? COME ON PEOPLE USE SOME COMMON SENSE.

o.-Let’s come back to reality.
“They did not learn from the late 70′s and 80′s about Big Gas Guzzlers and now they want to convince us, that they’ve now Learned Their Lesson …” Do you have a clue how many BIG GAS GUZZLERS Toyota makes? Tundra (15C,19H), Sequoia (14,17), Land Cruiser (13/18), FJ Cruiser (16/20), 4 Runner (16/21). They make EIGHT different models of trucks and SUV’s. Their Sienna minivan gets 17/23 while Dodge/Chrysler minivans with the largest engine option, a 4.0 litre, get 17/25.

I think the CEO’s of the big three should be fired just like AIG, and those other crocks then and only then should any mony have been given to these companies. Not the stock holders nor any one at the top should reap when most Americans are either out of work or being layed off period. Get some of those new minds out of MIT, Virgina Tech and other universities to run these companies with new and vigorating idears. The Auto makers have been sleeping with the oil companies for years, They could have made a green car twenty years ago. Thank you

This is supposed to be a democracy. The American people overwhelmingly were against the 700 billion dollar bailout of the banks. Congress passed it. The American people are overwhelmingly against bailing out the auto industry. Congress is going to pass that too. We no longer live in a democracy where the majority rules. Easily half of the world’s economist think these were bad deals. So how do we get Congress vote the will of the people?

Who on earth are you polling? The Big 3 ALWAYS stood for advancement of the little guy…By wanting everyone to suceed, now all of a sudden America hates them ? Vehicles today rate on par if not better quality wise with Competitors, they are a major hub of innovation (Onstar GPS) Harbor Reports show the greenest most efficient Plants and all Americans now want is to give it all away? Failure of BIG 3 = America becomming 3rd world country!! All we will be good for is a cheap labor force: Why can’t people see beyond this and look at the big picture? Where is our leaders strategic plan for America? I’m becomming more and more conviced I need to move to Canada or Switzerland…. Maybe Toyoko will have a nice spot for me…

The poll proves why America is in bad shape economically – the majority of its people apparently have no financial sense.
It is far far cheaper to LOAN these companies money than the bailout that will occur if they go under. Why? Here you go:
1. Did you see what the market did on the idea that these loans would go through? Up about a 1000 points. What happens if it doesn’t? You’ll see it down to 7000 at least and maybe 6000 in a month. Do you know how much market cap that is?
2. In Chapter 11, who takes over the pensions? You and me. How much do you think that will cost?
3. The auto suppliers cannot go out of business – a significant portion of tank parts come from them. We will have to bail out those companies for sure as they cannot survive without the car companies. You’ll see the costs of tank parts rise exponentially.
4. A manufacturing base is key to our national security. If the auto industry isn’t around, the government will need to create another industry that could make jets, bombers, tanks, and ships in times of war. We will not be able to rely on foreign companies (Toyota, Honda, VW – remember our friends from WWII) if the chips fall in the wrong way.
There is a seemingly endless chatter about how Americans don’t want cars or trucks the Big 3 makes. Well, half of America disagrees with you. Also, many ignore that foreign governments ARE bailing out their auto companies. And, although we let these companies sell their cars here, their nations largely block us there (South Korea is a notorious example).
So the job of our representatives is not to enforce majority rule – their job is to think. I think they should craft a good bill, but it is economic suicide to let these industries go under at this point.

I’ll tell you why all other car companies are doing fine (apart from having the same sales drop 30%+ as the D-3):
1: They are supported by their own governments at home
2: Many of them are partially owned by their home governments (VW, Renault, Nissan)
3: They protect their home markets so the D-3 cannot sell there (Japan, Korea, even the European Union to a lesser degree)
4: They know how to deal with unions at home which are much stronger than the UAW
5: They get rebates on their Value Added Tax when they export to the US
and the US cannot do the same in return.
6: They get indirect support for Research and Development from their home governments (Japan (remember MITI ?), Korea, Germany)
7: They require joint ventures with local companies for US companies to sell cars in their country (China)
8: They are the largest contributors to the US trade deficit now that oil is back below $50/barrel in spite of their assembly plants in the US
9: They benefit from billions of $ doled out by state and local governments to build their plants in southern states.
10: They have access to patient capital for long term planning that the impatient, corrupt, and short sighted US capital markets can never hope to match.
Is that enough ? Of course the D-3 have made lots of mistakes, but the playing field is not at all level here. Ford/GM compete very well in all other countries with these companies other than in their respective home markets. However, here in the US, the auto industry problems are just the tip of the iceberg. All other industries in the US that compete with foreign companies.. they are all loosing market share.
This is not about replacing one bankrupt company in Michigan with another from Alabama. This is about global competitiveness. We are becoming a branch plant economy where the only jobs are the minimum number of lowest tech jobs necessary to bribe local politicians. For $50 per person ($15B over 300M people), this government could start the process of addressing these problems, but we find it much more satisfying to blame everyone else.

I am not surprised at the arrogance of the unions! My company location received NO raises last year. We were told that in order to even have a chance to survive we had to give it up. And we did. And, no one left because of that. The incredible arrogance (that word again!) of these people will now quite possibly cause them to run their companies out of business. Thumbs down!

Do I think auto workers should take pay cuts to try to compensate for deficit? Is that what I’m supposed to answer? Why the hell should they have to suffer for something they had NO CONTROL of?! That’s the stupidest thing I ever heard next to that dumb Chicago governor. Come on bigshots of GM, FORD, and CHRYSLER. Grow some balls, take RESPONSIBILITY and be ACCOUNTABLE for what you’ve screwed up. The prices of the cars are way overinflated for what they’re worth and I’ve got news for you. If they started a buy one get one free sale, they still couldn’t get enough Americans to buy and save their asses. So I guess my answer would be no.

you can rest asured that the big three will not go under. they will go to chapter 11 and reorg. then the unions can give up a lot.No way can they afford to pay $78/perhr in wages and benfits and stay afloat. Unions have to renogate. thats my 2 cents.

It looks like our a natural resorce provider has figured out the answer to our aching economy and they needed to look all the way around the world to India to find people who were glad to work at a fraction of the cost of employement here in the USA.
The truth being is the Boss’s are still the Boss and the people who devised a system of any resorce are still those people and just like a famous screen actor or people who can promote a product and get it to sell if the job is accomplished then the royalties roll in? The truth being though minimum wage is far from the actual living wage that plain working class folks have rose up from? The truth being is does this all honestly make sense and truely have any value behind it? Value used to be what you got for your money and if this country thinks they can con us or the rest of the world with its front of pretty cars that only look good from the road and really hurt once they take to the road. We all need to take this situation/crisis seriously and get down ond dirty and make use of other forms of transportaion and learn the art of patience and kindness and love. Love does,did,can’t,won’t, demand past ways of doing things for the past is just that our past and we need to learn a valuable lesson from all this and you will not need to go to college to figure this one out either so far I have made it on high school education from 25 years ago that I honestly do not even remember anymore. Today I make $2 more that minimum wage and was told to be glad I have a job but it just goes to show you what WE could do for $80 a day? The tricky part is finding a woman who will love you for what she is getting not what she hopes to gain in the economy. With the old saying that 2 are better than one we must admit if it is based in true LOVE U get 3 for the price of thee ONE.
Just a few thoughts to think about? timothy

WHEN WE ALL ARE IN SOAP LINE THEN WE CAN SAY WE SHOULD HAVE HELP THE AUTO COMPANY!!!!!!

if they fall we all fall not just michigan

There should be no bailout without an
immediate pay cut of all employees at the big three. They will fail again, if
they don’t make drastic changes.

Not even the silly folks on Capitol Hill believe that any one of these companies can come out of Chapter 11. So, regardless of what you may think, here’s why not: to run a company in Chapter 11, you still need money and you need people buying your product. The odds of a bankrupt GM getting money? Zero (they can’t even get money when not bankrupt). The odds of people lining up to buy GM cars when in bankruptcy? Almost zero.
Chapter 11 protects GM from its creditors. Do you know who they are? Auto suppliers are a big constituency and if they don’t get their money, they go under. This is not the airline industry where people need to continue to fly and purchasing an airline ticket is not buying a car.
Those of you so eager to get rid of unions astound me. Yes, they went too far in many accounts but if you want to see the disparity between rich and poor get even bigger – kill them all off.

Two-seaters aren’t going to get much market share. But your point that innovation has been stifled is true.

Don’t understand bankruptcy, do you? Chapter 11 doesn’t break the union. And they wouldn’t come out of it. Read my post just a couple above…

You think these line workers haven’t already mortgaged their homes? While you sit back and drink your latte, you’d have them out on the streets. But the even dumber part is that your job is next.
I can’t believe there is even discussion about the loan to the car makers. Be it 14 or 140 billion dollars, it’s far cheaper to loan them that money than lose 1-2 trillion dollars in market cap practically overnight, 3 million or more jobs, and pick up the tab on unemployment benefits/health care/pensions for all these folks.
It’s crazy that the mice around here continue to want to shock themselves rather than run the maze.

No, we should not bail these auto makers out.
Few are going to buy their bad cars anyway.
Look, we gave money to banks, but they used it to overtake banks and fire people.
Hence, unemployed people do not make a taxbase to bail anyone out, nor can they pay again for a car they already just did with tax money.
Take away the Unions and the jet travel and put the CEO’s in the cars they build, they will be better for it.
Where do you presume to get any money to fund the bailout, if no one can afford to pay taxes?

The big three are going bankrupt becuase they aren’t selling their overpriced, semi ok vehicles.
Bail them out by giving vouchers to the American people to take to dealerships US-wide and that will make their inventory go by-by. For once pay the taxpayer, not the big guns.

This bailout is ridiculous. How does an industry fail and then need help to try to get back into it? Shouldn’t have have prevented this? all the rich guys that knew what they were doing must immediately pay for their actions, thats the bottom line.
Sincerely,
Ilya

How come we did not ask for same or similar conditions from the financial institutions that caused this whole mess?
(no one will buy auto’s in this economy)
Financial CEO still get paid big bucks from the fund, while auto CEO’s agreed for a $1 pay – how is that reasonable?
Auto companies need the loans (It is not a bailout stupid, it is a loan).
BTW, republicans, please remember people have long memories and will remember all this next election time too!