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I think we should not LOAN any money in the auto industry but should buy preferred stock with the bailout. That would, among other things, give the Treasury a couple of seats on the board of directors of these companies. This should have been done with the financial industry as well.
They've already reached a tentative agreement on a bailout.
no they haven't. They just asked the automakers to come back with a better plan and present it for a vote. This "agreement" was only between Democrats and automakers, and until January the Dems don't have a big enough majority to force this through without Republican support.
1) ...took over a sinking company and earned himself a $28million bonus... It was to replace the bonus he would have earned had he stayed at Boeng. He makes 8MM which may be too much but you wont hire any talent if you make them lose a 20MM bonus.
2) Again I have to ask. Are you prepared for 20% unemployment in MI, 14% in OH, 12% in IL and MO, 10% elsewhere?
Yes is a valid answer.
It wont get like that is not a valid answer.
Sometimes you are darned if you do and darned if you dont. I believe this one qualifies.
I personally have given thought to this aspect also. The lower rungs of the ladder should not have to suffer, but the bailout will just prolong the inevitable. These companies do not have any intention of correcting anything. Why have they not come up with a plan previously? Isn't that what the corporates are supposed to do? They are asking for money and still have no plan? Obviously, there will be serious unemployment, but they might find employment at the surviving car companies that are still around because they have chosen to do the right thing. I tend to believe that the remaining companies would naturally be more successful with less competition. I do not think it would be the best thing for the consumer, but I do believe that skilled autoworkers will find jobs available. I can not say concretely one way or another as I am not qualified. However, I do find this to be a likely scenario. Companies who operate poorly deserve to die. Are we willing to take less and less in the way of quality? Darned if you do and darned if you don't does seem to sum it up nicely though.
Last edited by manicotti; 11-20-2008 at 04:26 PM..
Reason: Didn't know if the original language would be considered offensive and innapropriate.
I think we should not LOAN any money in the auto industry but should buy preferred stock with the bailout. That would, among other things, give the Treasury a couple of seats on the board of directors of these companies. This should have been done with the financial industry as well.
The idea of our failed and corrupt corporate government getting involved in another failed and corrupt corporation scares the bejesus out of me! No offense to you meant at all. Just a sentiment of mine.
Please everyone, write your Congressmen, Senators, etc., and urge them NOT to bail out the big 3 automakers. These companies operate under tremendous waste and greed. Overhead is inflated by union demands, outrageous pensions. They have no incentive to make and market a product that the public wants and now they are crying the economy is hurting, so they are hurting and so many people will be laid off.
I can sympathize with some of that reasoning. But all sympathy flies out the window (pun intended) when I hear that the heads of all 3 companies flew down to Washington on their corporate jets, to the tune of a cost of about $20,000 EACH. They could have flow first class commercial for $1500 each. And the head of Ford last year, took over a sinking company and earned himself a $28million bonus.
It's corporate welfare and the sense of 'entitlement' they have is not that much different than what plagues other segments of our society asking for public handouts.
NO BAILOUT!
Thank You OP, I've contacted my Congressman with my views. I am pleased to see that congress listened to our emails.
President Bushis now changing his mind and considering bailout for the auto industry by using the bailout funds for Wall Street.
Contact President Bush now and tell him NO!!
president@whitehouse.gov
Thanks for the update. I just did this. I'm not hopeful though. Bush is a lame duck Pres and doesn't have to pander for votes. Obama has alreay promised he will push this through. The Senate's killing of the bailout only bought us a little time--and now it appears, no time, since Bush is determined to do this. UGH!: mad:
Thanks for the update. I just did this. I'm not hopeful though. Bush is a lame duck Pres and doesn't have to pander for votes. Obama has alreay promised he will push this through. The Senate's killing of the bailout only bought us a little time--and now it appears, no time, since Bush is determined to do this. UGH!: mad:
Bush won't listen. He never listened to the American people before, so why should he start now?
I think we should bail out Chrysler when Chrysler comes and bails my car out of the driveway, where it sits stuck in the snow.
Four snow tires, 240lbs of sandbags in the trunk, Chrysler's FABULOUS "ESP" feature, and all I have is a big blue lawn ornament right now. I don't even have a steep driveway!
I am totally against bailing them out, and already called the Senate to tell them so. Other manufacturing industries are hit hard too, and they work for way less than these people do, with less benefits. No one seesms to acre about the other industries though, do they. If I saw any sign of hey, we want to volunteer to take a 10-20% pay cut to prevent lay offs then I'd feel sympathy. I haven't seen that yet. If their average is $30 an hour they make over double what some of the highest workers on the floor in PCB manufacturing make. Not feeling too sorry for them.
I am totally against bailing them out, and already called the Senate to tell them so. Other manufacturing industries are hit hard too, and they work for way less than these people do, with less benefits. No one seesms to acre about the other industries though, do they. If I saw any sign of hey, we want to volunteer to take a 10-20% pay cut to prevent lay offs then I'd feel sympathy. I haven't seen that yet. If their average is $30 an hour they make over double what some of the highest workers on the floor in PCB manufacturing make. Not feeling too sorry for them.
Just wondering if you are waiting for a ten percent cut in every single person who works for the company or just union members? Seems no one else is being asked? Are you also expecting the folks who bargained in good faith for a package that included healthcare and retirement to just say "sure we really did not count on that for our retirement." Not paying current workers a higher salary is a matter of choice on both sides, but not meeting the obligations to those who already worked the hours and provided the services to the companies, that is theft.
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