News, Auto Bailout Approved. (loans, investments, companies, tax)

[JD59]

Auto bailout to include billions in short-term loans, with CNBC's Phil LeBeau; John Carey, Pioneer Investments; Stephen Wood, Russell Investments; John Silvia, Wachovia; Jonathan Tasini, Labor Research Association; and CNBC's Mary Thompson.

Video - CNBC.com

[texdav]

From every news source I have read the republicans have not even seen the bill. Pelosi did agree where the money if approved will come from tho. Its scheduled for a vote next week but nothing is certain since no one as actually seen the bill which is not reportedly even on paper yet. A soon as they annouce the vote ;I am sure we will hear alot as there will probaly be the same huge voter e-mails and call to their representatives as with the bailout.

[PurpleLove08]

I wrote my "representatives" about two weeks ago letting them know my feelings about the auto bailout.
I doubt they listened but hey, I tried, right?

At the same time, I can see the merits in this:

Congress: Look in the Mirror Before You Abandon Detroit : TreeHugger

We know that the American car manufacturers can make small, fuel efficient cars in a unionized environment; they do it in Europe. Blaming them for not being competitive in America with small, efficient cars from companies that make them all over the world in the single big market where gas costs two bucks instead of six per gallon is just dumb.
Lend them the money to survive this downturn and retool; get it back by adding a gas tax that makes small cars attractive in America. And stop blaming the car makers when you don't have the guts to keep gas prices stable and high enough to incent American buyers into small cars.

[texdav]

Well if you look at the number of miles that are driven by the averagte pwerswon in this copuntry compared to europe 'it isn't the same really. The look at the emissions difference in what carts are approved. Then I also think that many americans will never want to shift over to small cars entirely.There is a huge difference in the peole in the countires as well as the countries themselves.In the end I doubt that the big three should stay in business since they have had since the embargo in the 70's to chnage.

[PurpleLove08]

Originally Posted by texdav

Well if you look at the number of miles that are driven by the averagte pwerswon in this copuntry compared to europe 'it isn't the same really. The look at the emissions difference in what carts are approved. Then I also think that many americans will never want to shift over to small cars entirely.There is a huge difference in the peole in the countires as well as the countries themselves.In the end I doubt that the big three should stay in business since they have had since the embargo in the 70's to chnage.

I think a big reason the Europeans don't drive so much is because they have a great public transportation system and some countries have congestion pricing and things of that nature.

[texdav]

Originally Posted by LiveTodayLez08

I think a big reason the Europeans don't drive so much is because they have a great public transportation system and some countries have congestion pricing and things of that nature.

Its just a much smal;ler countries overall and they bascially in so many instabces live in government houign (what we call the project). Very different life style form here. I read one post where they basically charge like 4.00 dollars everytime you enetre the city of london. They also have alot of feees to own a car. No on ewould stand for much of that in thsi country IMO.