News, Big Three want more money in bailout. (Congress, 9/11, insurance)

[JD59]

The price tag of a loan to the Detroit automakers could top $34B: GM is asking for up to $18B, Ford wants $9B and Chrysler, $7B.

NEW YORK (CNNMoney.com) -- Automakers submitted their turnaround plans to Congress Tuesday with the hopes of winning approval for a lucrative loan package they claim is necessary for their survival.

Automakers turnaround plans sent to Congress - Dec. 2, 2008

[LogicIsYourFriend]

They'd better not get it, those bastards!

[EarthBound?]

Let them fold, then we can all start buying a better vehicle like Toyota or Honda. Screw ford, gmc and chrysler.

[Jonotastic]

I'm not sure if we should or not, but I just bought GM stock thinking a bailout will be passed next week and I'll be able to bank on that day.

[coastalrap]

No I don't for lots of reasons:

UAW
Management
Gubmint involvement

Just to name a few.

[Rggr]

I don't. The business models and practices are the problem and they are not being changed. As a result, this money simply prolongs the same problem and will be wasted. They are asking for billions to get them through the next month or two. What happens then?

That's not the entire reason why I don't like it. I don't like the government being in this role.

[domergurl]

There will be a bailout. However, it won't be the big 3 at this time next year. Some of the Chrysler brands will be merged into the other 2, specifically, Dodge.

I don't like the idea of bailing out executives.

[EarthBound?]

No I don't, and it shouldn't be and Bailout, but a buyout.

They should let Toyota's and Honda's employees have a crack at buying up all of the big three stock and start all over with a new slate.

Oh, and throw the unions right out the door, along with anyone of the employees that even say the word (union). Start fresh

[monkeywrenching]

Originally Posted by Jonotastic

I'm not sure if we should or not, but I just bought GM stock thinking a bailout will be passed next week and I'll be able to bank on that day.

I am not even in favor of the bank bailouts. the federal goverment should have stayed out of it completely.

[cap1717]

Yes, I do support "loans", not "bailout" for the auto industry, on the condition that NO UPPER MANAGEMENT gets any of that money, that it is all put to use to modernize, develop better and more fuel efficient vehicles, and to keep the workers employed, WITH adequate health insurance, retirement, etc. I have never worked in a union job, all the 401K money is in the tank, right now ( a whole bunch of it "dissapeared" after 9/11, and at 63, my body is starting to give out, but no retirement in sight for me. . . I don't want to see that happen to anyone else!