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The Engineering Market has gone downhill for the last 15-20 yrs because of lack of work in Refineries, Pharmaceuticals and other process plants work. As a result, Engineering companies closed up, Job Shops(Recruiters) closed down and many Engineers and Designers lost their jobs. I was part of this. There was no bailout, no support except unemployment, no one even knew what was going on in this field. Pension, what's that? My point, for some of us our recession started a while back. America and The World caught up, sorry to say.
As far as GM goes, we all have our own disasters to deal with.
BTW, quality wise, I am a Ford person. I should think lack of quality and fuel efficient cars has something to do with GM'S problems.
They should probably require that the companies be run by people who know what they are doing.
Oh the executives and management knew exactly what they were doing for their bottom line. When gas was cheap they were getting HUGE profits from all the SUVs they were selling. Higher profits means higher bonuses for the management since most companies tie profits to bonuses. It gives the management an incentive to increase profits, or so we think. The reality is that this profit driven motivation makes the management aggressively seek short term profits at the expense of long-term profits. Now we get to the bottom line on why the big four are going bust, a long with wall street. Should we be helping out these people who mismanaged their resources? I don't think so.
We would be better off using the money to fund direct programs that help the people or better yet, paying down the debt or lowering taxes. That is what really drives the economy - lower taxes and less government.
Location: Georgia, on the Florida line, right above Tallahassee
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Artificially propping up a failing business with tax payer dollars makes about as much sense as artificially propping up home values with tax payer dollars..
If we can bailout big banks then why can't we bailout our automakers?
The reason why the automakers cannot build new fuel efficient cars that they would like is because they do not have the money to re-tool the aging factories that are not set up to build the cars of the 21st Century.
They couldn't re-tool because that would take away from the profits of the Executives. As previously stated, they made out on the big trucks and SUV'S when that was the thing to own one.
And the lesser of evils, I prefer to bail out a bank verses a company as that's where my savings are......dah.
I know that every American just loves to slam the American Automakers, but the thing that many Americans don't know is that many more than just the direct automaker employees are supported by the automakers (GM, Ford, Chrysler).
I can't even begin to say how much these companies need this bailout, it would probably be the most important bailout that would ever be put into affect. If one, or two, or all of the Detroit 3 would go bankrupt thousands of retirees would lose their pensions, meaning they would most likely loose their house, car, etc. And this would mean no income or property taxes for the government, because the retirees would loose everything and so would all of the 100's of thousands of current employees with the Detroit 3.
If we can bailout big banks then why can't we bailout our automakers?
The reason why the automakers cannot build new fuel efficient cars that they would like is because they do not have the money to re-tool the aging factories that are not set up to build the cars of the 21st Century.
So, who's fault is that for them not to have any money now? Mine? I didn't tell them to make all those big SUV's years ago, they did. Those high priced "really smart" executives should've planned for the future.
Again, just another example of mismanagement and wanting the taxpayers to bailout an industry for their financial mismanagement. But, since Govco opened the checkbook for the banks, now every Tom, Dick, & Harry will be looking for money.....
This country is past the point of no return, and w/Socialist Obama in there, it will only get worse. He's looking for a quick fix "now" instead of a long term solution to this country's problems.
Thanks, but people here are smart enough to recognize a shill for the industry.
GM should have done something a long time ago. Make smaller, fuel efficient cars instead of those big, fuel guzzling SUV's.
That is so true and like in any other business ...if you make the wrong decisions you have to close your doors if there isn't money any more...How many more times are they going to ask for extra money...
These companies have no business to be in existence given the horrendous quality of their products. I rented a Chevy Malibu a while ago, never again!!!
bail them out, but fire those unefficient CEO's and take control of the company. Yeah, sounds like a socialist policy but you cannot award those who ran the companies to the ground and now want to be saved at taxpayers' expenses
They should probably require that the companies be run by people who know what they are doing.
Great novel idea !! Let's go back in time to competence.
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