Why America hates Detroit

I TOTALLY understand why so many people are saying, “No more!”. I’m starting to agree with them … because enough is enough, guys – and I live in Metro-Detroit and feel (like many others) the effects of too much power, too much greed, too much egotistical gimme, gimme, gimme.

Under any normal circumstance, I would say let the Big 3 rot, as would most people I am hearing. They have had extremely poor business judgement and made abysmal decisions while foreign competitors have run them over flat. It’s beyond me how they could have gotten so far behind while most average Americans knew that selling huge 7000 pound smoke belching trucks would not be sustainable. But they hung their hats on this and ignored global trends for many years.

Unfortunately, these are not normal circumstances. We’re already on the brink of another Great Depression and letting the Big 3 fail would most certainly drive the country into critical doom. The problem is, why ressurect companies to build cars that nobody wanted to begin with? I vote to assist them with a loan but with much regulation and an independent “oversight team” to ensure that certain brands/models are quickly eliminated, manufacturing plants are shut down to match consumer demand, and new fuel efficient vehicles are researched and produced.

I think they should get the same help the banks have been getting. The auto industy was hit just like the houses industry was. You gave people with poor credti the opportunity to get the loans to buy cars they could not afford and in turn the auto industry increased their production to meet the demand. They had to hire more people and now they have the same problem as the banks. I think they should be helped out also.

From an auto industry employee (AIE)……Detroit’s Big 3 need to both restructure and retool. Two avenues may be needed to accomplish it. First should come bankruptcy and then a federal bailout. Without both, they may not make it.

Letter to America:
We need to save the American auto manufactures. Yes their executives made some bad calls, but so did the Wall Street bankers. No you can’t blame this on labor (Republicans). German autoworkers make a livable wage, and have a month of vacation a year. If our government had sane trade policies, and our executives weren’t so short sighted and greedy all these American jobs wouldn’t be in danger. France, Italy, Germany, and Japan all made sane decisions on trade policy, and healthcare, and they will all keep their auto companies, and their jobs. We can’t keep giving capital gains tax breaks to people for selling us out, they will just go out and buy a new Lexus with our money. Americans wake up and buy American. Republicans step aside now we have a country to save.

Don`t worry. You don`t need to spend taxpayers money for bail out. American government long long ago had not spent taxpayers money. They just don`t have enough tax money. Instead they steal money abroad. They steal money from Chinese, Arabic, Russia, Brasilia and so on. And now they just one more time, steal 30-50 B. $ and present it for lazy and greedy big 3.

You can ask why I use word “steal”. Because then men get money and knows, he can`t pay it back – then the right word is “stealing”.

American government has a huge debt, and not a chance to repay it forever. America became the nation of thief.

And so, Cowboy, relax, steal money from Chineseman and buy a new cool American car.

I feel like a Who in Whoville in this forum, but here goes…
Dear US Congress
I’m very concerned about the possibility of your not helping GM make it past this crisis. If there are political battles to be fought, please fight them some other way. GM is not without sin, but the acuteness of their situation is caused by the credit crisis borne on the near collapse of housing markets and financial institutions, NOT because of any recent mismanagement or poor products. GM has been hit right in the middle of it’s turnaround plan that was making progress and pleasing analysts! How can it all of a sudden be singled out for punishment?
I can’t imagine GM liquidating. Can you? Can you visualize the dismantling of an American company that affects the employment of hundreds of thousands of people, that is feverishly developing a car that won’t even start it’s gasoline engine before it’s driven 40 miles, that can turn it’s might into a war machine if needed? Where will the skills collected over a 100 years of this enterprise be scattered?
It makes me sick to my stomach that tens of billions of dollars were poured over banks and you are about to turn your back on a concern that is a household name and a source of pride for many Americans. I am ashamed if this company is failed by this government.

People who wants to support foreign cars and they think it’s the best. well, you guys are wrong. just an example, Toyota truck. since they start production. how many recalls do they have? every single year…..what does it mean. they don’t have a quality as well. what about some CARS from JAPAN. how many recalls do they have and how many do they hide? do you think they are honest?

If american would not support the big tree. they should be ashame to themselves.

Everybody wants to blame Detroit for betting on cheap oil. Well guess what America, you can bet your next paycheck that they would not have made those millions of gas guzzling SUVs had we as Americans not been lining up to buy them. I for one want to commend Detroit for their astonishing turnaround in the last 5-10 years. Quality and reliability is through the roof. Check the lastest ratings and the Ford brand is equal to or better than the almighty Toyonda. No one has had a worse year than Toyota for quality and reliability; the Tundra disasters, being removed from CR recommended, numerous recalls, on and on. European cars with their horrendous quality cant even be mentioned in this conversation. Meanwhile Ford and GM have been busy retooling their entire lineups under crushing cost structures and legacy agreements. Let’s face it, most car buyers are not truly educated in the current state of the industry and rely on past experience. Simple human nature. It took decades to create the current perception of American car quality. It will take years again for the perception to meet the current reality. GM and Ford again make the finest cars in the world. Not approving the bailout could snuff out the coming renaissance of the American auto industry.

I say let them go under. I’ve owned a few gm vehicles and they had nothing but problems after 40k. My father bought a brand new Tahoe Ltz new back in ‘05. He has had nothing but problems since he took it off the lot. Cylinder deactivation not working, power windows not working right, Water pump went bad at 10k, Fuel pump gone at 17k. As for myself, I had an impala (03 model) that had its loooong list of problems as well like the tranny needing to be replaced at 43k, The oil light wont go off, power window problems, Heating/cooling issues..etc…I could go on but i think I’ve made my point.
I’ve came to my senses since then and purchased a Honda accord and couldn’t be happier. All I’ve had to buy is tires and of course get the oil changed. Most American cars are just pure junk that get horrible gas mileage. I believe giving the big 3 any type of loan would just reward piss poor management.

The American auto industry has been in denial for the last 30+ years.

Why is it that the Japanese can build a top-quality vehicle on U.S. soil and the Big 3 can not?

In my driving lifetime over the last 32 years, I’ve own 2 Dodges, a Saturn, 2 BMWs and 3 Nissans.

Amazing.. the 12 year old BMW and 7 year old Nissan are still running today as the day they were driven off the lot.

The BMW has 194,000 miles and the Nissan nearly 100,000 miles and not a major issue with either vehicle after all those miles.

The American cars I owed bit the dust after within 5 years after purchase.

No, the auto industry should not be bailed out because of bad management, bad business decisions and lack of vision.

Enough is enough, already. Where does it stop? Every industry from here on out is going to be in line for a handout.

Let them fall and learn their lessons the hard way. Maybe then they’ll wake up and smell the coffee.

think about this.if we dont help out the industry,not only will the obvious loose thier jobs, but what about construction,landscaping,transportation,municipalities.where are these businesses going to get the thousands and thousands of trucks(all different sizes and fuel types )that arte neede to replace worn out equipment.not all these vehicles are available from different countries.iot would take years to get them on line.the countries infrastructure would be severely hurt.whar would that do to the job count and the economey?

Detroit’s Day of Reckoning is here and these guys know it. They have had since the oil shock of 1974 to develop efficient, small, quality cars. Giving then another 2 year “bridge loan” is a slow walk down a dead-end street…you still can’t get there from here!

The Chevrolet Volt will be here in 2 years and cost $40K+ and will only go 40 miles on a charge. Imagine what the Japanese will have by then!

If the Big 3 were serious, you would have the CEO and the President of the UAW announcing to the American people that all union workers and executives were taking immediate 40% pay cuts as well as cuts in retiree health and pension payments. Don’t hold your breath America!

Tell the airline workers that saw their pensions vaporized when their companies went through bankruptcy and their benefits and pensions reduced to a fraction of what they had before. Hey, better to have 20% of your benefit than 0%.

The arrogance of the union and management to ask for a bailout and no offer of cuts in return from Americans that can only dream of having benefits and pensions and health care they enjoy today is beyond me. I am self employed and have to fund all of my own retirement.

Wake-up Detroit – your Day of Reckoning has dawned!!

The effects of the big three going under would be a catastrophic hit to our country. It effects everything from car makers to the guys at the local car wash, with the parts suppliers, repair stations, gas stations, tire manufacturers and so on down the line. How many million would be out of work? Someone on here said if GM went under it would be 2.5 million, that is almost 10% of the population. That added to the current unemployment rate or 6.4% and you come up with a scary number and a scary society to live in.

why should Americans who don’t want to buy a “small three” car be forced to pay to have them made through taxes.

My suggestion: let UAW, employees, suppliers, dealers, etc pool their money buy the companies. They can get rid of the management they don’t want, and when its their own money at risk, maybe everyone in the chain will cut their wages / profits to keep the companies alive.

There are millions of american taxpayers who earn less than auto workers. They should not have to pay to save jobs of someone making more than they do.

The American auto industry has significantly increased its quality over the past 20 years or so. They are not the same companies they once were. The Chevy Malibu (08)and Saturn Aura (06-07?)both have won the Motor Trend “Car of the Year” award. Not exactly chump change when you consider the amount of competition building cars.

We are still driving a ‘96 Silhouette with over 240,000 miles on it and our previous minivan was 7 years old with 180,000 miles on it and running fine when we bought a new one earlier this year. Let’s not hold to old, outdated misconceptions any longer while discussing this industry.

I believe the bailout should happen but with significant spending restrictions applied to these companies. No executive travel (like AIG), streamline company communications from the engineers to the factory floor, and for God’s sake, fire everyone in the marketing department and get some fresh ideas in there. Obviously, they haven’t done enough effectively to change the perceptions that impact sales.

Two things…Why would we not attempt to save 15 million jobs, crucial to the US economy, but we would continue to subsidize the financial industry that imploded on itself creating this entire chaotic mess in the first place? If the banks hadn’t stopped lending, nobody would be asking for help.

Lastly, if you have or have had clients, patients, customers, relatives, friends, etc. that work for the Big 3, you need to be driving a Big 3 vehicle. I’m sick of seeing many people with financial ties to the industry make other choices. You need to be aware of which side your bread is buttered. For instance, a 25+ year medical professional, who has auto workers as clients and accepts their nice insurance and (hopefully) will continue to have these clients and make money from their insurance, who jost bought a foreign car. Aren’t you biting the hand that has fed you for 25 years?

We need to support each other, we all need to work for the good of many throughout the country, not the priviledged few. We really are in this all together.

Capitalism doesn’t work like this. Only American car companies are asking for help, not any of the other better makers of cars in the world. They not only make better cars but no it appears they run a better business. They have adapted to the fall in demand, if they didn’t they’d be lining up with the B.S. three. Let this system work itself out, let theses players fall, they build nothing but crap anyway.

I don’t hate the automakers or the workers. I hate the unions who caused all the financial problems with the automakers while they collect big checks off workers backs and make the workers feel like they won’t have a job unless they stay in the union. Unions are nothing more than extortion.

If GM goes down. 1 job means another 10 for affiliates. That does not count your local businesses. Get a clue people. Quit using jealousy for a reason to despise the auto industry. Most non-skilled jobs have been outsourced and
most idiots writing these blogs are too stupid to do the skilled jobs which are well deserving of their pay.

We are bailing out banks and other lenders – force *them* to lend to Detroit. At the same time, give the banks’ equity stakes in the auto companies and force Detroit to accept bank representation on their boards. Do not take on UAW health care at this time. Rather, nationalize health care and sell part of the benefit as shoring up the industrial base as well as luring foreign companies to relocate to the US given the reduced costs of doing business under such a regime.

Let’s call the UAW bluff.

1) Offer the save GM, et al from bankruptcy with a senior secure loan (senior to all existing obligations) on the condition of UAW agreeing to modify its CBA to Toyota level in the US. Retirement healthcare benefits reduced to Toyota level also.

2) If UAW rejects (1), then let GM et al DIP financing if its chapters and reject UAW contracts and other legacy contracts and obligations. UAW will have two choices then… either accept new market terms or strike. Only then may the UAW will be compelled to make rational choices.

3) A GM that’s go through a quick pre packaged chapter 11 reorganization will attract more private capital and retain more consumer confidence in the brand than current poor perception, which any loan will not change such negative perception.

Let’s not forget that GM, et al are continuing to lose market share and this trend will not change. It can’t afford the rich Job Bank and severance packages under existing UAW contracts.

Let’s see if UAW really want to save GM and it’s future members’ jobs or if it want to protect current members pay and benefits, even if that is bleeding the company to death…

Here is a way for GM to very quickly get back to profitability on their own. Currently wages and benefits average $73.08/hr x 40hrs/wk x 52 wks/yr ~ $152,000/yr x 346,000 employees = $52.59 billion/yr. If we add in the top 5 executives’ pay of $0.01 billion that would bring the total up to $52.60 billion. The rest of us average manufacturing workers get $28.48/hr (~$60,000/yr) or about 40% of what the Detroit Big 3 pay. And in most parts of the US you can live pretty good on that. Cutting their pay back to normal would save them $32 billion a year or $8 billion per quarter. Seeing as how GM only lost $2.9 billion in the last quarter, this would give them a profit of $5.1 billion. To me it seems pretty clear, the only reason they lost money in the last quarter was that they paid $8 billion more in wages than they had to.

I did ask my buddies who all make about the average wage if they would consider passing the hat to give some of our $28.48/hr wages to GM so they could continue paying their folks $73.08. I can’t repeat some of the things that were said, but the general feeling was h*** no.

I did see somewhere that GM and the union had agreed to reduce wages for new hires back to something closer the typical manufacturing wages, but this won’t have any effect at all on their problem. How many people is GM hiring? I think the number would be about 0 and if they are saving about $75,000 for each of these new hires, then correct me if I am wrong, but doesn’t that come out to 0 x $75,000 = zero savings? So any talk about this being a savings is just a smoke screen to hide doing nothing.

With a workforce making a good average wage like the rest of us I’ll bet GM could make some small cars that get really good gas mileage and make a profit on every car. Which was something they couldn’t do before.

Don’t think the union would go along with this, so the only way I can see this working out is to let GM and the union go where they have been headed for years and that is right into bankruptcy. This does not mean they have to stop operations. Lots of the airlines have continued to operate while they rearrange things under bankruptcy protection. I would be in favor of some government support if they were in bankruptcy seriously trying so put things in order so they could be successful and come out of bankruptcy.

When GM files for bankruptcy, they will not be able to find financing in this credit market to restructure. All that will be left will be toi liquidate the assets and offer pennies to the dollar to some of the creditors lucky enough to be near the front of the line. With a significant chunk of their business gone, most of the suppliers will go under. This will cause the sub-suppliers and their sub-suppliers to go under. The destruction of the supply base will also cause Ford to file for bankruptcy. Again Ford will not be able to find financing to restructure under Ch.11 so they will have to file Ch.7 and liquidate…….leading to further destruction of businesses from dealers to advertisers to mom&pop machine shops and the associated service industries that support all these businesses. When these 2-3M people lose their jobs, they will obviously have to foreclose a couple of million homes on the market. Which will also lead to further price erosion, negative home equity, and a couple of million additional foreclosures. At that point, it will be game over. The economy will not have any chance of recovering for decades. Say good bye to whatever is left of your 401ks……..

Something to think about……Ford earns roughly 50% of its revenue from their European operations. If you go to Europe, you will notice something odd about the Ford products. You see a lot of extremely fuel efficient cars. How can this be? European governments don’t require the automakers to produce fuel efficient cars. They use gasoline taxes to align consumer demand with fuel efficient vehicles. Since consumers in Europe demand fuel efficient cars, that’s what Ford gives them. In the US, consumers have demanded SUVs so that’s what Ford gave them. When the gas prices shifted suddenly, Ford was caught with its shorts down but they are reacting and have a European invasion in their product pipeline of fuel efficient cars. Hopefully, gas prices will shoot back up when these cars start flooding the Ford dealerships……otherwise, Ford dealers will have their lots full of fuel efficient small cars and everyone will again be looking for an SUV……..Tell your congressman to scrap CAFE and copy the Europeans in maintaining demand in smaller, fuel efficient vehicles.

To JT – The Motor City Post. When was the last quarter GM actually turned a profit or even broke even? While you point out that auto sales have dropped this year for all makers, last year (and the 5 subsequent years) I remember the foreign (and not only the Asian makers) sales and profits increased while the Big 3 kept losing market share and posted losses. I do agree the Union is well past its needed time – it was 10 -20 years ago!!! And the Union and ridiculous previous contracts is exactly what has kept the Big 3 from being price competitive. Your argument of Toyota forecasting a loss in profit – at least they’re still making a profit!!!

If it were put to a public vote I would vote a resounding NO to giving a penny much less billions to Detroit. With the track record GM and the other domestic automakers have regarding profits, we might as well flush those billions down the toilet. At the current rate of loss, a $25 billion handout would be wasted within 2 years. Ironically enough GM is asking for billions while at the same time they are already trying to spend it on a bigger stake in two Chinese automakers – with money they don’t have! You mention your contract going from $90 / hour to $13 / hour in 2010. So in the meantime are you suggesting continuing to piss away the $77 / hour difference? Maybe it’s time the union goes back to GM and the others and makes those rates effective immediately.

When the airline industry was having an impossible time back in 01, the government did the right thing and let them sink or swim on their own. And those that sunk and came back are much better companies today than they were then. They are leaner, more profitable and able to adjust to changing business conditions than they were then. And those that did not come back didn’t deserve to be back. I’ll admit the loss of GM or any of the other makers will have a significant impact on an already struggling economy but in the long run borrowing billions to companies who have absolutely no plan on paying it back is worse.

Under current labor agreements and operatinal flaws, a bailout of the “big three” will not be in the average citizen’s best interest. These companies did not shift production to generate higher quality products that Toyato and Honda offer. Obviously, there will be the displacement of a large number of workers, however it is time that those individuals seek new skills for today’s economy. I voted for Barack Obama, yet I feel that this industry has surrendered to traditional economic forces as opposed to the corruption in the banking industry and government intervention is not warranted.

Yes to the loans. The country can’t afford not to.

Well said JT! If only your fellow American,s would stop and think and listen and read before making some of the comments posted in here you may have a shot!…Who was it that termed it a BAIL-OUT!…and not a loan as you well know it is!

For poster JT in Motor City, MI:

JT: As a current worker for one of the “Big 3″, it is plainly obvious to me about why America needs to “bailout” the industry. General Motors recently announced that is was running out of cash.

— Why is that an argument? People in general are out of cash and jobs… People in general are losing their houses and pensions… People in general will soon be worried about feeding their kids. Why should they be expected to fix other people’s miscalculations and gambles?

JT: They have already taken great steps to shore up cash reserves. There will be NO bonuses for ANYONE – Rick Wagoner down to the guy who empties the trash – this year, no more stock dividends will be paid, no more matching 401K contributions, no more Voicemail at some facilities, etc, etc, etc.

— Well, duh? The problem is that they should have started doing this A DECADE AGO… While people were still buying the sub-par quality cars. Of course, there will be no bonuses at General Motors THIS YEAR… Because if American taxpayers do not pay for it — There WILL BE NO General Motors AT ALL NEXT YEAR.

Your example in basic numbers (minus clauses and fringes that are not easily attained and quantified):

Your RICK WAGONER… A news clip from 2005: “…the company’s CEO has set up a retirement plan that will pay him at least $4.6 million a year – nearly twice his current salary.”

Your RICK WAGONER… A news clip from 2007: “TOTAL compensation for ‘07 was $14.4m, or $39,452.05 per day (including weekends).”

Rick Wagoner is part of the cancer that is killing the U.S. and the world!

JT: The undoing to the market hit everyone. Un-damagable Toyota LOST $350,000,000 in North America last quarter, and lowered the year end profit to fall 63%!!!
When America was buying big SUV’s Toyota built TWO big SUV and Pickup plants, which both recently sad idle for 3 MONTHS.

— Sure, Toyota messed up with the SUVs and Pickups in the U.S. BUT they will be here next year because they have a SUPERIOR product. Toyota is still doing reasonably well in Europe and elsewhere… GM? Not so much… because the cars are inferior on every possible level (except perhaps in super-sized McDonald’s cup holders and wider seats). Hey, maybe that’s the problem? Tell your CEO Rick Wagoner that the world is bigger than what he sees on the local weather forecast!

JT: To build a car takes over 5 years from when it is started until it is deemed safe to drive and produce in large quantities.
Car sales everwhere feel this year, from 16 million in the US, to now closer to 12 million. No business anywhere can adapat to a 25% reduction in 4 months of sales.

— It came as a surprise to GM? So, why are you paying your CEO over $40,000 A DAY in salary alone? It didn’t come as a surprise to people that read and keep up with current affairs…

JT: The Union is well past its needed time, which is why in 2010 the new agreement takes effect. Paying nearly $90 per hour in wages and benefits doesn’t make any sense, so its being reduced to $13 an hour starting wages with greatly reduced benefits. Do some research and figure that out.

— Simple! It’s the deals that your CEO RICK WAGONER signed with his buddy CEOs that run insurance companies, health care providers etc. need their bonuses too… Is this really a great mystery to you?

JT: If the credit markets hadn’t seized, GM would have sold their Medium Duty Truck business, finalized both deals on the Hummer Brand and the French Transmission factory, as well as greatly increase the chances that the sale of ACDelco would work. If it could, GM would raise money on their own, but they can’t. For anyone in the US to think that for one minute it would be better to allow any one of the 3 automakers to go out of business would be better for the economy is absolutely ridiculous. There is no way anyone can argue a short-term $25 billion dollar loan is a worse thing than the failure of any company that size. 2.9 million people losing their jobs next year, 150 billion in lost taxes next year, and a dent in the GDP of 180 Billion would decimate the economy.

— Sure it will hurt… for a while… but why should people that are losing their jobs, houses, pensions and their children’s education TRY to save a dated and a poor quality product? It will fail anyway, in time. GM should declare bankruptcy, re-structure completely (layoff everyone and let them re-apply) and start from square one – developing a good quality product (heck, invest the $25 million there…) Rick Wagoner’s butt should be the first one dragged out and dumped on the curb!

JT: GM, Ford, and Chrysler are not asking for free money, they are asking for a loan to help them make it through this patch of the economy. With the products they make, they simply cannot hit a switch and change their products, their manufacturing techniques, etc.

— That’s the pathetic part… The CEOs and VIPs where too busy filling their pockets and bank accounts to look ahead and steer the companies toward INNOVATION.

JT: Also, if the market was selling at the same rate and ratio it was last year at this time, GM would have made money this quarter. Just something to think about…

— “IF”… In any business you make your own “IFs”… I don’t see any help to small businesses that are innovating — staying in business — and making money… Why not spend some “bailout money” there? It will also result in new jobs.

General Motors “as is” = a limp horse that should have been put down many years ago.

The entire auto industry is down. Demand for new vehicles has dropped. The difference between GM and Toyota for example though is that GM is operating at a loss and can’t survive while Toyota is still making money even with sales being cut to a third of what they were.

Something is wrong with GM if they can’t produce a profit on their sales. I don’t think a bailout is going to fix that problem when they’re burning through $2,000,000,000 a month.

We can’t save everyone.

LoL….. lots of people in the US are bankrupt. Why does not the US Govt bail out everyone….. It is funny people who make the wrong decisions should not be bailed out…. If US bails out so many of them possibly US will be bankrupt next who knows….. with the growing deficit…..

I drive a lot of rental cars from all manufactures. American products get a bum wrap. I agree Ford products are boring, but they are reliable (had one that got to 195,000 miles with no major work). Same with Hondas – appliances on wheels. GMs are fairly decent (design and feel). Chyrsler has some snazzy models. Toyotas are basically American cars. I own(ed German, reliability? yea right. BMW – awful, VW better. Loan GM and Ford the money. They are late to low MPG party, but they restructured their agreements a few years back. If this finacial meltdown had not occurred, they would be competitive and weathered the $4/ gallon issue; even more so once the new agreements kick in. The cost of these companies going under would be incredible to tax payers – can you say government backed pension plans and benefits? On the flip side, if they go down so does the stuborn narrow minded parasitic UAW – so be it – sweat revenge for sinking American manufacturing!!

Please let’s not worry about lost jobs. All the Unions these workers belong to will take care of them.

“We can’t compete because the governments of Japan and China pay to help them retool and stay competitive. Remember all the tax breaks those foreign companies were given to build here? The profits all go back to JAPAN and CHINA. the tax base of the 2 million and one out of every 10 jobs worldwide will not pay for your schools, roads, or national defense.”

Susan B. -

Well I’m not sure about the Asian governments helping the automakers(Anyone else comment?) but you certainly don’t understand the job situation. Most of the cars developed by those automakers have their plants here (Meaning the workers are usually American and pay taxes to our government). When those cars are bought, the consumer pays taxes to the United States. The only thing we lose, which we already lose on many companies is the the corporation’s profit gain. But many companies(American and foreign) base their main headquarters elsewhere as it is.

You might have an economic degree, but that doesn’t make you an expert in tax policy…

Sorry GM, Ford and Chrysler. You guys have had a long history of producing inferior products and you’ve failed to wisen-up. Along with your managements greed and failure, the Unions have aided in the building large liabilities with non-competitive salaries, unreasonably expensive healthcare benefits and unproductive work rules. I recommend the bankruptcy route which I experienced three times. So don’t cry about the loss of benefits. A lot of Americans have already paid the price for their industry’s poor management and unions greed.

Even as a European I would say government should not get involved in this case as it just fuels “it is alright to be lazy and ignorant” – if your company trend is going down steeper than others, which it has done for more than a decade; don’t you think it is time to take a closer look at your business model before it hits the bottom? This didn’t happen overnight and I am not willing to pay for it, sorry!

the larger picture here, is that this is really a bailout of the united auto-workers’ union, more so than the companies themselves. and with our new president-elect in debt to the unions for supporting him, this will be a done deal. I say, if i am not getting government money handed out to me, neither should these guys. free markets work, if given a chance. But they won’t work with a government that feels there are entities out there that are too big to fail. NOTHING is too big to fail in a true capitalist society, you take your lumps and move on. No to the bailouts !! it will never end if people dont make their voices heard.

I have five GM cars I am happy with them I love my Chev Suberban we should help the Big 3

GM HAS NOT TURNED A PROFIT SINCE 2004!!!

Everyone needs to remember that if one of the big three fail that the US government is going to get stuck with all the pensions. One way or another the US Taxpayer’s are going to foot the bill. At least give the industry a chance to save themselves with a government loan.

!!! STOP OUTSOURCING JOBS TO INDIA !!!

OTHERWISE ALL THE AMERICAN HOMES WILL BE WORTH $1 ON E-BAY. TRUST ME.

No Fed loans for Detroit.The economies of those companies is so complex, they have to be allowed to suffer economic challenges. If they do not deliver a product that people demand, pay their employees too much, or whatever the reason why they hemorrhage cash, we have to let it happen. Low rate loans will simply encourage them to continue their failing business model. Federal money would be better spent in other ways. If no one else wants to either loan them money, nor acquire their business, that should be a clue to everyone.

I read the comment from the guy who works for the Big3 stating why we should give them the bail out – namely, it is too big to fail. Ok. I understand that.
What I don’t understand is this: there are two problems with the Big 3 – First, they have a structural problem because of the Union contract their profit margin is much thinner than the competition. Second, it is obvious that they are not building cars that consumers want to buy. And I don’t see how pouring in money will solve those two issues.
Will the Union give out concessions when the new money comes in? If you believe that then pigs can fly. Are the Big 3 going to turnaround and start building cars that consumers want to buy? Past records do not substaniate this. Otherwise they wouldn’t be in the mess they are in right now. Even just the other day, the GM CEO said he would not resign if new money comes in – said he did not see why his resignation would serve any purpose.
I’ll say we tough this one out. No more hands out unless both of management and the Union agree to a major haircut. And even then, we only sort of solve the first issue, not the second one. So 5 years later they will come back and ask for more. Bottomline: if it is a badly run business, regardless of how much money you give it, it is still going to be a bad business. You may be able to kiss the frog and hope for a prince but in this case, there is no prince here and magic does not happen in real life.

To summarize:
“WE FEEL ENTITLED. SO DEAL WITH IT!”
Signed,
Mo Town Three

I dont understand how so many people want the big 3 to fold. Lets just buy more imports so we can help the countrys there profits go to. Both McCain and Obama made comments about sending so much money from oil to other countries, lets help Japan and China while were at it. The big 3 have made great strides in quality that compare to any other make. As for the UAW, they have made concessions to help the companies get stronger. Do some research and you will find the benefits have been greatly reduced, hourly rates do compare to the imports. They are asking for a loan not a handout like so many banks are getting. If they do receive loans there should be some rules to protect there investment, Everyone from the top to the bottom should be accountable for everything they do. The majority of the UAW workers would take a pay cut as long as the management side does the same. I am a proud UAW member that would do what it takes to help GM. So long as management starts taking the right steps to secure all of our future. I hate the fact that America is being sold on the fact that its better to invest in countrys that could one day be our enemies instead of taking care of ourselves first. Take pride in your homeland and stop trying to destroy it.

They need to be able to prove they can be viable business in the years to come before they should ever get a dime from the government… that means back to reality for the unions!

A bailout will not help the US auto industry, but there may be a way to save them. When I was a boy and misbehaved, thankfully my parents did not abandon me and let me die; though I did get a trip out behind the woodshed, my behavior improved remarkably thereafter and I grew up to become a productive member of society.

Maybe it is time for GM and the rest of the US auto industry to “take a trip out behind the woodshed” for some major attitude adjustment. The faults of both labor and management in that industry are legendary and a full list would dwarf the Congressional Record. So let’s just list a few points and the readers can extrapolate from there. Total compensation for 2007-2008 (wages & benefits) for the autoworkers averaged $152,000/yr. By union contract this included the janitors and those who cut the grass. Last year it also included 12,000 “workers” who did no work because they were in a “job bank” a place where employees go when they have no work, but cannot be laid off. Ah to play video games, do crossword puzzles all day and still collect $152,000 per year. Workers are covered by a 30 and out program, so if you start working at age 18, you can retire with a full pension and medical benefits at age 48, perhaps having another 30 years to collect benefits. Currently there are too many retirees and spouses supported this way by too few working employees. If we think Social Security is going to have a problem as the number of workers supporting retirees goes from 5:1 down to 3:1, how bad do you think it would be if we dropped the full retirement age down to 48? This is what the auto industry has already done and it cannot be sustained with the current generous benefits.

Some will point out that this $100 billion retiree medical benefits problem was “solved” last year by innovative management action in which these healthcare costs were transferred to an off-book, special purpose vehicle or trust that would be managed by the union. (Is it just me or does this seem a lot like some of the things Enron got into before they imploded.) So yes it was taken off their books, but GM paid $35 billion into the fund. (I think I heard that the union let GM delay some future payments into this fund.) GM was burning cash at a rate of $1.1 billion per month last quarter, so wouldn’t that $35 billion have carried them for over 2 and a half years if they had kept it? For some reason they say they have increased their cash burn rate to $2.3 billion in the most recent quarter (why?) but still the $35 billion would have carried them for at least another year and a half at this higher burn rate. So now tax payers are being asked for $25 to 50 billion (in this first round with more to follow.) Why didn’t they ask us to pony up the $35 billion to be transferred earlier? Did they think we would have said no, and thought a shell game would be more appealing to us?

Management failed to confront issues that were obvious for years, so they have to go. Some critics try to lay out a smoke screen to cover grossly overpaid factory workers by pointing out the high pay of 5 top executives. Perhaps they are overpaid, but even if they were paid nothing, 99.9% of the compensation problem would remain.

Their “trip out behind the woodshed” has to be bankruptcy. This is the only way that the large structural changes in a (relatively) short time can be made so the US auto industry can become healthy again. Some have said that GM could not get debtor-in-possession (DIP) financing to go through bankruptcy. Well maybe that is the role the US government can play, either providing the financing or guaranteeing the financing. If the UAW goes on strike and holds their breath until they turn blue, then they would be the “decider” about life or death for GM and their jobs, perhaps the rest of the big 3 as well. Other car manufacturers will step in to fill the void if they exit. If the US government has provided the DIP funds, then that would put taxpayers first in line in any liquidation of assets to recover taxpayer funds. Hopefully that wouldn’t be necessary and GM would exit from bankruptcy a leaner and much more viable company instead of the walking corpse they are, demanding endless transfusions to maintain the status-quo (with a little window dressing that looks like progress on a geological time scale.)

The Detroit three are perfect examples of what NOT to do when running a company. In the past 20 years they have not done one thing right. The UAW bears a large part of the burden, no doubt. Their hard-line class warfare socialist tactics have certainly done their job.

Here is where I am coming from-
1. THEY MAKE BAD CARS
2. They are at the mercy of the UAW. The big 3 don’t run their own show.
3. They have failed to respond to demand for more fuel efficient cars
4. Bailouts don’t work. The government can’t do anything right and can’t spend my money anywhere near as well as I can.
5. Government oversight of companies throws the free-market system out the window and embraces the “command” system. welcome to the USSA (united socialist states of America).

adios comrades!

Instead of giving the big three 50 billion plus in loans why not get something for our money,(what a concept!) GM builds Hummers we need more, Chrysler builds M1 Abrams tanks we have lost almost 4000 over the years , Ford build the military trucks we need. The new contracts will keep Americans working,producing, and will keep America strong. All this while the big three retool to produce a vehicle America will buy.Actions like this took us out of the great depression.

Bailout of the Detroid companies would be a crime against civilization.Being a refugee from the communist country I bought a used Toyota in 1982, and used the car for another 6 years.Even being a foreigner in a new country I saw poor quality of the Detroid made cars, and woud have never ever bought it.

I like the idiots that say their products can’t compete. Read your car magazines. Consumers, Power Trend, Car and Driver.

This is a tough call, however, I feel that this is another bad bailout. Here’s why…Gm has been bleeding millions for some time now, a portion of the $25B is not going to save GM. So I think let them go and deal with it now. Since I feel that the money is not going to save them wouldn’t it be worse to have GM go bankrupt after confidence is up based on bailout?? this seems like a situation that would make our economy worse. Now, the job issue, yes many, hundreds of thousands of jobs could be lost, however, going back to my comment above, I think we are delaying the inevitable. I feel bad that anyone in this time would lose there job, however, lets not be like the government and put a band-aid on it and hope it holds, if not, then what?? another bigger band-aid?? At some point we all need to face reality and the reality of the matter is that we are in a big mess that will get worse. I hear they Bank of(legalized Mafia)America says late 2009 we will start to come out of this. I remember not to long ago, they said we would be out of the mortgage mess, mid 2007, then late 2007, then it was mid 2008, then late 2008 then there was no talk about when anymore. We are now in a recession, probably a depression(or soon to be). Looking back at the $700B bailout, they said it was imperative that we move quickly on this to stave off a major collapse of the economy. Did the bailout help?? NOT!!! Banks are hording money and not easing on lending. CNN wrote many articles how “bank” to “bank” lending is easing, well till it eases for the consumer, it mean nothing! Now they are saying the same thing about the auto industry. Unless credit eases for the consumer, not even the entire $25B or any amount of money will keep the auto industry afloat! they should ask Big Oil to bail them out, they are making money hand over fist. Why is it Big oil hasn’t stepped in?

BTW…two things…
1) I read that the auto industry did not previously qualify for the $25B because part of the plan under the $25B plan was that they had to show they would be able to sustain business and not fold shortly after getting funding. So if they did not qualify back then,what makes anyone think they are going to be able to qualify or payback $25B or any portion borrowed anytime soon? Again it boils down to, the banks lending money or it will never get better. Last time I checked, you needed money or credit to buy a car.

and

2)We bailed out Chrysler once before. How many do over’s do they get. I am a small business owner and we are suppose to be the heart and soul of America and I don’t see the gov’t willing to bail me out, as a matter of fact, it’s going to get worse for all small businesses under Obama.

From plants to parks. From dealerships to driveways. From gas stations to grocery stores. What happens in the automotive industry affects every one of us. The collapse of the U.S.-based auto industry wouldn’t just impact the nearly 355,000 Americans directly employed by the big three.

The effect would be devastating in ways of which you may never have thought.

* Nearly 3 Million jobs would be lost in the first year alone — with another 2.5 Million to follow over the next two years
* Personal income in the United States would drop by over $150.7 billion in the first year
* The cost to local, state and federal governments could $156.4 billion over three years in lost taxes, and unemployment and health care assistance
* Domestic automotive production would more than likely fall to zero—even by international producers due to supplier bankruptcies

So, please do some research before you post your opinion and show how little you understand the implications of what will happen if we do not help. We bailed out the banks and they have done nothing. AIG came back for more after spending thousands on trips. The banks are tight and not lending still, at least the Big 3 will keep people working and provide a chance for the us to climb out of this hole.

“I cannot give you the formula for success, but I can give you the formula for failure–which is:
Try to please everybody.”
Herbert Bayard Swope

Forget everybody and do what is right support the Big 3 and this country will once again be strong, remember they were there for us in World War II and many other times when we needed them, we should give back to them now.

I stated, in an earlier comment, that a Treasury run debtor-in-possession (DIP) financing is the only way to ensure the long term health of the industry.

One thing to consider is that the stagnation of the US auto industry, choked by these inflexible UAW contracts, has been one of the biggest obstacles to alternatively fueled transportation. The UAW, hand in hand with the Big 3 management, have consistently killed every attempt to produce alternative modes of transportation, through intensive government lobbying (ie. the prohibitions on E-85 conversions of existing vehicles) or outright killing of technologies (ie. EV-1). Both parties have been throwing their shoes into the alternative fuel machinery because non-gas powered vehicles are much easier to build, requiring less unskilled labor, and smaller organizations.

You can’t stop the advance of technology, no matter how hard you try. Detroit has finally hit the technology wall clinging to a mid-20th century model.

If we clean house in Detroit with a managed Chapter 11, some of the biggest obstacles to alternative fuels will disappear.

I have always bought my cars from Detroit because, as far as I’m concerned, they are the best vehicles for the American market. I owned a Toyota, once, in the 90’s, it was extremely reliable, but it was a nightmare to repair when it did have a problem. Mainly, acquiring replacement parts for it always depended on the exchange rate. I’ve never had to face that issue with Detroit cars. Sure, you have to fix Detroit vehicles more often, but not incredibly so, and the fix is usually only a few hundred bucks. It took me $3000 to fix a simple part on my Toyota, once, because, at the time, the Yen was much, much stronger than the dollar.

US labor is still a good value and we have the advantage of not being subject to the whims of the foreign exchange markets.

The US auto industry’s problem is it’s business and labor relations model. Clean out management, clean out the UAW, and I think you can really have a viable industry.

I’m generally pro-union; unions can have a very positive influence as a check against management excesses. However, unions have to work with management for the good of the entire company. The UAW has fostered an “us versus them” culture that just can’t be sustained in a modern business environment.

I would support a bailout under a Chapter 11 type re-organizaion. In order for the automobile industry to survive they have to compete in a global economy. I would like to see their marketing plan which would allow them to do this. If they can tell the government how they can compete in the future and pay the money back I would say give them a chance. Since Washington is giving money away to everybody these days and Capitalism as we know it is dead, this would be as good a cause as any.

JT,

Finally someone with common sense and intelligence. Well spoken.

If you ship all your jobs out of the country, then no one here has the money to buy a car. I currently own a GM vehicle that was assembled in Canada. If there is to be a bailout, there must be a provision to bring jobs back here. Also, GM needs to work on build quality, my GM vehicle it too new to be falling apart the way it is.

Still alot of blame going towards a UAW worker. There are alot of posts stating the wages and benifts tatal $73 an hour. Sorry to tell you that you are wrong. people that hire into GM make $16-17 dollars and it has been like that since 1995. They also pay for their healthcare and their 401k. People should do some homework before stating facts.

In my opinion, it’s an issue of marketing and communication. If most average North Americans who purchase vehicles are not aware of auto nuts and bolts, than how come they assume that all foreign vehicles are of better quality??? The big 3 need to rationalize the makes and models that don’t sell and improve on those that do in order to retain existing market share. Once production quantities become sorted out and revenues improve, the big 3 should not reduce pricing to new lows. Instead, invest in R&D, provide increased quality, spread the word via media and advertising vehicles, and increase pricing in order to further increase profits and quality. In the process, cut the fat by eliminating unproductive manufacturing plants, but highly reward those EE’s who perform greatly. Encourage intrapreneurship amongst existing EE’s in both MGMT and Manufacturing. Forget about outsourcing overseas!! Instead, let the foreign companies make those mistakes. Instill a new national identity with your vehicles bringing customers back on board. Use your political clout to lobby governments to set import quotas and fair trade initiatives with autos so that this mess won’t happen again.

Posted By JT, The Motor City MI: November 13, 2008 4:50 pm

JT – you make good points, but one point about being in business it that you have to capitulate to market demands. No where is it guaranteed that oil will stay cheap, which is why when it exploded over the last 12 months that operating a vehicle that gets 16 mpg city was no longer a viable option.

The fact that these companies lacked an alternative product is due short-sightedness and no one’s fault but the those paid to keep the company poised to take advantage of emerging markets. Trucks and SUVs were a cash cow for these three and they should have been looking more closely at alternative fuels when the idea was a novelty as Toyota did with the Prius. It doesn’t mean they can’t sell the big stuff too while the demand is there, but they have no Mini Cooper, no Prius, and no Beetle and right now that is what people want. If everyone in my neighborhood stops reading the paper then the local paper boy loses his job, that’s just reality. You can’t subsidize that.

The Big 3 are getting a loan, not a flipping bailout. They are paying that money back like they would any other loan. They would go and raise money out within the capital market if the banks hadn’t all but closed their doors because of their stupidity and greed. Japan and China keep their currencies artificially low so their products are cheaper (and now watch the Japanese car makers take a beating because the Japanese government can’t keep the Yen from rising against the dollar. You will see more fallout on that soon)

the larger picture here, is that this is really a bailout of the united auto-workers’ union, more so than the companies themselves. and with our new president-elect in debt to the unions for supporting him, this will be a done deal. I say, if i am not getting government money handed out to me, neither should these guys. free markets work, if given a chance. But they won’t work with a government that feels there are entities out there that are too big to fail. NOTHING is too big to fail in a true capitalist society, you take your lumps and move on. No to the bailouts !! it will never end if people dont make their voices heard, call your congressman today !!

Helping ‘US’ automakers means wasting Tax money to support bad managing companies, that the companies produce energy-inefficient cars, that investors lose money in stocks and bonds.

Any ‘foreign’ automakers are welcome and considered ‘US’ automakers as long as they produce cars and parts here, that they pay Tax to the government, that they hire workers, that they introduce technology to America and produce good cars, that they bring good enterprise culture and global perspective to America, and that Americans are shareholders and even major owner of the companies that make money.

The only thing needs to be addressed and be taken care of is the workers who lost jobs. However it would cost much less than helping the aging and never turn-around ‘US’ automakers.

Maybe the big 3 wouldn’t need a bailout if Americans would buy vehicles made by an America company. Everyone driving a vehicle made by a foreign company is to blame. I’ve driven GM made vehicles for over fifteen years now and have put 150,000 to 200,000 miles on each before trading in. New Flash: companies build vehicles that consumers purchase. Before gas prices increased, Americans were buying large SUVs, which is what the big 3 produced. I have 1 used when I was 16, all of them have had a fuel millege between 25 and 33 MPG. Its not like SUV drivers didn’t have other options. If anyone is blame, it is the consumers. Many Americans have some false preception that their Honda/ Toyota is better. When their Toyota has a problem, they have it fixed, no big deal, but when their GM vehicle has a problem, they have big fit and decide it is junk. Not to mention kinda helps if people take care of their vehicles. The goverment better bailout the big 3 or the United States is going to see some serious consequences.

Amazing, all of the Detroit folks are crying for a bailout yet were okay with getting over paid at $70+ per hour to build inferior products. I have a 14 yeard old BMW, 193,000 miles that has had nothing go wrong in the past 100,000 miles – try that with a Chrylser, Ford (fix or repair daily) or GM!

Again… should the American Automakers fail… So does America.

The total number of Americans considered when discussing the unemployment rate is 107.2million. Currently 10.1million Americans are considered unemployed. The estimates of additional people out of work should the “big 3″ fail is at least 7.2. This takes the total to 17.3 million unemployed for a small percentage of 16.13%…

An additional 7.2 million people presently earning an average to slightly above average income no longer generating tax dollars.

When saying that “I will never buy a domestic vehicle again” you are citing your comparison vehicles based on those manufactured in the late 80’s and early to mid 90’s. The automakers themselves will endorse the fact that their product was sub-par in that era. Try comparing something made in the last 3-7 years for a more accurate comparison.

In terms of manufacturing a desirable product…. They do. In fact, they manufacture a product for exactly what the American consumer wants, at the time that it is manufactured. Ford developed an ultra fuel-efficient hybrid vehicle in the late 80s/early nineties… Their market research determined… no one wanted it…

True, they have been mis-managed in the past… This is not a question of bailing out a good company or a bad company. This is an issue of rectifying a failing American economy. This will require government intervention. Thank you. Continue on with your ignorant ramblings.

For $25 Billion, Washington could order that much (or more) in military vehicles to replace the ones that have been worn down, trashed or just way too old. No need for a bailout, make them work for it and benefit the armed forces in turn.

I say no bailout. Why? I lived through the seventies when the American cars were total pieces of C**p. The problem was on both sides of the line, workers and executives alike. Everybody took and took and never put anything back into the company.
And for people to imply your a patriot if you buy one of these things in nuts. Those guys are how we got into the current mess why should they be rewarded?
If you want to be patriot and do what’s best for the good of the country then let these companies die off once and for all instead of keeping them on life support.
There are five “other” automobile manufactures and they seem to doing just fine.
Maybe if the big three would have just followed some sound business practices and actually made reliable cars that people wanted to buy it would have been different. But that’s not what happened.

Let the government guarantee a bailout only AFTER a bankruptcy restructuring that would eliminate the “Legacy” costs going forward. Otherwise, any money “given” prior to such a restructuring is money down the drain. With current ‘burn’ rates, any gifts to the big three would be gone before the recession ends. Even if the economy was strong and people were buying (that probably won’t happen till 2010), the simple fact is that under the built in “legacy costs” of higher wages and benefits for both current and retired workers, Detroit simply can not compete. Especially without the now ‘ extinct’ profits once generated by gas guzzling suv’s and light trucks. If restructured under bankruptcy, the “big Three’ could emerge as the ‘Big One or maybe, Two’. Then with government guaranteed bailout funds (no one else is going to give them loans or DIP’s}, the reorganized company can use the money and time (they will have the time, because the consumer is not spending], to build fuel efficient electric, hybrid, hydrogen cell, compressed air and other types of environmentally friendly and less expensive vehicles for the future.

The ignorance of some of the people in this country is obvious. The executives of the large three automakers have not been wining, dining and taking bonuses. The have a product and it supports families, AIG and others we have bailed out make and lose money off of other people’s insurance and retirement funds. I would feel much more comfortable with my tax dollars helping out people who produce for OUR economy and OUR country than people whose only concerns are their million dollar payouts. Wake up people and see what buil this country, it wasnt the chinese!

The biggest issue i have here has to do with the Unions. Why haven;t we heard anyhting about them trying to renegotiate labor contracts????? The government did not step in and bailout the airline industry when it was in trouble. So what happened? The employees stepped up and said we will take a pay cut in order to keep our jobs. Why aren’t the employees at the Big 3 doing this? Also this past summer the GM plant was shut down due to limited SUV sales. Where were the employees during this time? AT HOME!! The same issue happened with the Toyota plant in San Antonio, but where were their employees? At work, working to reconfigure the plant to make other vehicles and in training classes to learn how to make better cars. Let them fail, why should we have to pay to bail them out.

Jennifer M. Granholm is what is wrong with this country. Look after yourself and forget everyone else. The best thing that can happen to this country is for GM and any of the other Big 3 who are struggling with union and legacy obligations is to file for bakruptcy. Will the cause some pain in Michigan? Sure it will as did her tax increases. But a bailout will cause pain for 49 other states. Let the Big 3 become ONE and let the union be more American. Here is the slogan if a bailout happens. F the Big 3 just like they did to the US.

Please: A bailout only with “serious, do-it-now, the technology is here” strings attached; i.e. REAL MPG/biofuel/electric/hydrogen/et al efficiency………………
I sincerely believe they are in this mess because they felt above it all, and were blindingly, and comfortably, ensconced in a culture of greed.

No more bailouts! The first shouldn’t have happened and now its being manipulated at the sole whim of Paulson. You can thank the largely Democratic Congress and the both presidential candidates for that. Don’t we have conflict-of-interest laws to prevent that sort of thing? Oh, that’s right. We don’t! Which is the same reason the military/industrial complex still controls the world spending economy (armaments spending is #1) and why former defense executives become presidential executives and vice-versa. But, I digress.

Detroit has had over 30 years to make adjustments that would have benefited them and US consumers. Instead they continued their campaign of “the AMERICAN driving experience” as though it were a divine entitlement of Manifest Destiny. To be fair, many US consumers took the bait, buried their heads after the last energy crisis and are now stuck with virtually worthless “tanks” which reminds me of the M1 military tank debacle. Hey! That was GM too, wasnt’ it? Does anybody notice a pattern here? Build bigger, more wasteful products that are counterintuitive and let the goverment pick up the tab. Is it any wonder that every sector now wants the handouts that GM is demanding? It’s industrial extortion if you ask me.

Search a little on line and you’ll find that many US auto makers’ cars built overseas have MPG ratings that are so hight they’ll make your head spin. The makers claim they can’t sell those products here because it costs too much money. Why? Is it the unions? Is trade inequties? Is it greed?

We can’t continue to try to freeze moments in time that are more comfortable than the reality of the moment. The longer we allow these bailouts to continue, the more damage will be done and the longer recovery will take. Many have said if the US government were a business, it would have already failed for poor fiscal management. Well guess what? The government’s been in the subsidy business for a long time and look how well that’s gone with just corn-ethanol, for example. Now they’re going into more business-banking; cars; consumer credit; what next? No wonder investors worldwide are scared. They should be! We should be too but, not to the point of inaction. We should rise up and throw the whole damned oligarchy and start over. God bless America. Please God!

ahh, classic America at it’s best. Why care about GM and not bail out the big three. How about hundreds of thousands retiree’s losing medical benefits. Many of the retiree’s who took the GM buy out are not yet eligible for government assisted medical insurance. You must also analyze the fall out that will occur with lost pensions. Service industry jobs will suffer from hospitals to McDonalds. Suppliers will layoff workers because they no longer have clients. Magna Corp and countless others would have to make cuts or possibly face bankruptcy themselves. You “Free Market” supporters must look at the humanitarian factor not just the corporate factor.

As a current worker for one of the “Big 3″, it is plainly obvious to me about why America needs to “bailout” the industry. General Motors recently announced that is was running out of cash. They have already taken great steps to shore up cash reserves. There will be NO bonuses for ANYONE – Rick Wagoner down to the guy who empties the trash – this year, no more stock dividends will be paid, no more matching 401K contributions, no more Voicemail at some facilities, etc, etc, etc.
The undoing to the market hit everyone. Un-damagable Toyota LOST $350,000,000 in North America last quarter, and lowered the year end profit to fall 63%!!!
When America was buying big SUV’s Toyota built TWO big SUV and Pickup plants, which both recently sad idle for 3 MONTHS.
To build a car takes over 5 years from when it is started until it is deemed safe to drive and produce in large quantities.
Car sales everwhere feel this year, from 16 million in the US, to now closer to 12 million. No business anywhere can adapat to a 25% reduction in 4 months of sales.
The Union is well past its needed time, which is why in 2010 the new agreement takes effect. Paying nearly $90 per hour in wages and benefits doesn’t make any sense, so its being reduced to $13 an hour starting wages with greatly reduced benefits. Do some research and figure that out.
If the credit markets hadn’t seized, GM would have sold their Medium Duty Truck business, finalized both deals on the Hummer Brand and the French Transmission factory, as well as greatly increase the chances that the sale of ACDelco would work. If it could, GM would raise money on their own, but they can’t. For anyone in the US to think that for one minute it would be better to allow any one of the 3 automakers to go out of business would be better for the economy is absolutely ridiculous. There is no way anyone can argue a short-term $25 billion dollar loan is a worse thing than the failure of any company that size. 2.9 million people losing their jobs next year, 150 billion in lost taxes next year, and a dent in the GDP of 180 Billion would decimate the economy.

GM, Ford, and Chrysler are not asking for free money, they are asking for a loan to help them make it through this patch of the economy. With the products they make, they simply cannot hit a switch and change their products, their manufacturing techniques, etc.

Also, if the market was selling at the same rate and ratio it was last year at this time, GM would have made money this quarter. Just something to think about…

These companies are gonig to need a substantially larger chunk of cash thatn what is being discussed now to continue operations at their current rate (meaning their current rate of burning through cash to stay afloat). At what point do any of these companies expect to start making headway and turn things around so that they don’t come back to us looking for more money?

If these companies are likely to go down in the next year with our help, then we need to just suck it up and let them go down now without our help. Let them go through massive liquidation to finance their own bankruptcies, or even complete collapses. It just seems to me that the end result in either case is the same – massive loss of jobs and total collapse of the American auto industry.

Why waste our money filling a hole that gets deeper no matter what we dump into it?

As a potential buyer looking for a car in the next few months, I will tell you I will NEVER buy another GM, Ford or Chrysler product again. Why? Where should I begin: Lack of quality, inferior materials, or no reliability.. this list could go on and on. My family and I have had cars made by all three manufacturers and not one made it past 40000 miles without having to have major repair work done. My warranties were barely out and I was spending thousands of dollars to just keep them running. My Ford Probe was a disaster that had 2 transmissions within 3 years, My grandparent’s Dodge Dynasty was a death trap that stopped for no reason other than to be told it was a computer glitch, and my Father’s Buick Century had constant issues with the power steering and fuel injection systems. I finally came to my senses and purchased an Acura that has lasted me 10 years, been driven 230,000 miles, and has only cost me brakes and tires. My Father wised up and purchased a Toyota that has never given him problems and is at 120,000 miles. Lesson learned. Let them all go bankrupt!! Why should we bail out companies that produce inferior products, lack innovation, and offer no long term value to the consumer. No one gave me a bailout when I lost 3/4 of my car’s purchase price when I traded it in and the dealership found out it was an american car. What is that saying.. What goes around, comes around..and it appears Detroit is getting what it deserves!!

If GM, Ford, and Chrysler fold…So be it. Let them go bankrupt, 2.5 million people out of work, hey CEO’s of the big 3…I hear there is a future in the fast food or housekeeping industry….flipping burgers or cleaning toilets. Based on how you have run your companies, that is all you are qualified for.

Now that Nancy feels she can spend my money freely, apathy is not a option.
I believe in the free market, it was not much more than two years ago I pointed out an article written about GM’s lack of desire to change, it stated that they were going to remain the coarse with thier trucks and full size vehicles. You can not tell me that this day sneaked up on them.
We have recently been into a local GM dealer looking to purchase a new or used auto for my daughter. In this buyers market, they refused to negotiate a price, flat out telling me that they do not want my business.
Well Nancy I do not want their’s, let Capitalism take it’s course.

Toyota, BMW, Kia, and others all have manufacturing plants with thousands of jobs in the US, and I don’t see them going under. I wonder why? Could it be that they are better managed, or have better labor contracts (if they even have them at all)?

The fact is there is plenty of blame to go around, both at corporate office as well as at the Union office. Corporate fat cats definitely mismanaged the companies and fattened their bank accounts, which is reprehensible. At the same time the union bosses absolute unwillingness to renegotiate contracts, salaries and benefits is absolutely moronic. I know if I was a worker making $25 an hour, I would rather take a 5, 10 or 15% pay cut instead of losing my job permanently.

If they did liquidate, I think it is quite possible that Toyota, Honda, and other European manufactures would expand their US production capacity by re-opening and re-branding Ford, GM, Chrysler plants. And guess what? They would need to hire workers too.

The wrench in the plan would be card check. If this plan gets through, then the foreign companies would face the same issues the Big 3 are facing in about 25 years once their plants are unionized.

Americans, and I’m one, are so eager to blame everyone else for our problems. Why do you think we led the way into this crisis? Because it was rooted here! Nobody predicted the extent of this financial crisis. Yes, Detroit was caught with it’s pants around it’s knees. So were many large banks and about 200 million Americans. Detroit bet on cheep abundant fuel and easy money. Judging from the number of large SUVs on the road and home loan defaults, so did a lot of Americans. Wake up America!!! We have met the enemy and it is us. It’s our lack of care for the future and our desire to live beyond our means. The sickness in the American Banking Industry and the short sightedness of American Industry is base in the way we think. It is time for change. It’s time for us to change.

The Big 3 and the UAW do not deserve a bailout and if they fail so be it. If the UAW was really so concerned about their union members they would be offering major concessions. They are not so LET THEM FAIL. Car companies from around the world would increase their US manufacturing plants and dealerships to accommodate the increased demand for their cars. Those who are willing to work for a fair days pay will have a job. Those who want American taxpayers to provide for a lifetime of security should learn to be more American. That’s right UAW, as Joe Biden would say it’s time to be more American you thieves. NO BAILOUT, NO BAILOUT, NO BAILOUT!!! Get rid of any politicians who support it.

No way should we bailout the so called Big Three. Let them all fail. The only decent cars are the ones made overseas anyway and the exec at the Big Three are as corrupt as the unions and should be eliminated. Let them all just go away.

It is utter nonsense to think consumers would not buy from a bankrupt GM – they are buying (or not) from an almost bankrupt GM. Bankruptcy would let GM finally deal with the legacy costs and it should emerge leaner and in better shape to compete. Also, management and others would have to face up to reality. If GM can not get DIP loans, then let those be the bailout loans – the government can lend at DIP rates and be first in line if GM still can’t make it out. Otherwise, the government is simply supporting legacy union deals which really should have never been signed as they were too fat to begin with. It is very harsh, but it is a reality. Bailout after bailout simply sets a bad precedence.

I like make gas guzzling Silverado. Tundra is nice, but it’s not a Chev. I know most of you want to drive small rice burner but there are still a few good ‘ol boys that need their trucks.

We need to save the auto industry.

We can’t compete because the governments of Japan and China pay to help them retool and stay competitive. Remember all the tax breaks those foreign companies were given to build here? The profits all go back to JAPAN and CHINA. the tax base of the 2 million and one out of every 10 jobs worldwide will not pay for your schools, roads, or national defense.

We just celebrated verterans day. On December 7, 1941, Japan bombed Pear Harbor. You want them or China making our tanks if we have to go to war with them in the future over finite natural gas or oil? Or Russia?

The loss of jobs this company has, along with the tax base would make the depression of the 30’s seem longed for in comparison. Most of you are NOT economic majors, and are just mad without looking at the facts. We are the only nation in the world that lets businesses fail this way. Pittsburgh has still never recovered from the steel industry collapse of the 70′, over 30 years ago? And with the over 1 million people laid off this year already, where would everyone get a job? If you are working somewhere, the GM retirees don’t just live in MI. If they are not spending money, you could lose your job due to cutbacks. Look at Circuit City and Dell for example. More banks would either fail or not lend money because you will have a lot of people declaring bankruptcy or not paying on their loans because they lost their jobs. Yep, not giving the companies the bailout is certainly the right deal for us..to send us into the greatest WORLDWIDE DEPRESSION that will make the 30’s look like child’s play.

Economics major

U.A.W. forever don’t hate the player hate the game. Bottom line they will get the money and everyone knows it. Just rember the union helps sets the wage standard for many other jobs in the USA. Maybe the guys with the 4yr degree should consider trying to find a unioun job you might find you are happier with much less stress.

The answer is simple. Give the money to the American public, ensuring the money is used to buy an American auto. We get a vehicle, union keeps working and the auto industry gets a sale.

The financial industry produces absolutely nothing, laundering money printed by the Fed. The automobile companies produce an actual tangible product requiring much design, engineering talent and honest hard work from it’s employees.

The notion that Detroit makes junk is yesterday’s story. Their products are every bit as good today as the foreign autos. For the size of their operations, they are transitioning pretty rapidly to hybrid and electric vehicles with much enhanced fuel economy. Additionally, tremendous progress was made in recent labor contracts to put them on a competitive footing.

Had it not been for actions by idiots in the banking and financial industry of Wall Street cratering the economy, OUR auto industry had a very good chance of pulling off a turnaround.

If the government bails out the bozos in banking it most certainly should offer a hand to Detroit.

I have been reading through the comments here and general consensus is the lost jobs that will occur. Well let’s look at this from a different angle, if we give them the money, then who is going to buy? Sales are down. So are they going to retain the entire workforce or lay off a bunch of people anyhow? Then we are back to square one and out $100 billion plus what going to be needed to be carries unemployment benefits. Then if the company goes under will have to pick up unemployment benefits.

Let me say nobody wants to see people lose there jobs but there were bigger forces here that played into the demise of the American Economy, not just $4 a gallon gas. You have to look at the money we spent to front a war, and the entire greed issue on Wall Street. It is easy to just go and blame people for utilizing credit option, but who extended this credit to people anyhow? I equate now to a drug addict that was given free drugs and now they just stopped giving those drugs and it will be a hard withdrawal process.

NO WAY on bail out. we bailed out AIG and then the exeutives went on a personal spending spree. we dont need another company doing the same thing with our tax money. besides we the people need bailing out whoes going to help us?

If we loan $25B to the Big 3 and another $25B to the UAW, when can we possibly be expected to see that money back? GM has not turned a profit since 2004. Health care costs are only rising for the UAW. To give away one cent without major UAW concessions is completely insane and utterly stupid.

I don’t know if bailing out Detroit is the answer of not. However, I am amazed at the ignorance and callousness of some of the individuals writing. Yes there is something really amiss with Detroit, but if you think letting GM, Ford and Chrysler die is the answer then I think you may also harbor the feeling that nuking the Middle East is a good idea too. The results of this type of corporate failure will be on the scale of a national disaster. It will affect everyone in this country deeply. On the other hand you may be in such a grand position that you can say to this nation’s autoworker “Let Them Eat Cake”.

IF YOU ARE NOT DRIVING AN AMERICAN BRAND VEHICLE YOU SHOULD ZIP YOUR MOUTH.

For years, the Big Three have had shoddy product, inept management, and boards that went along with that management. Where were they when I had to invest thousands of dollars in my GM cars that had less than 50K miles? Did they care I couldn’t pay my rent or eat that week because of their crappy product? I didn’t have anyone bail me out! This problem is of their own making and now they are reaping what they sowed.

No. America doesn’t hate Detroit. America hates incompetence and it seems to be heavily concentrated in Detroit and has been for decades. The management of the industry plans far into the next quarter rather than the next decade. The unions think that they can create lifetime employment for their membership with compensation and benefit packages that would embarrass even a corrupt member of Congress. They ignore the true economics of the industry that has fed, clothed and housed them and their families for their entire lives. It is foolish to believe that you can build $1500 into each vehicle and be viable in a marketplace where your competitors build a better quality vehicle that is more desirable wherein those costs are less than 1/3 of that amount.

Detroit spends tens of millions of dollars on ‘Concept’ vehicles that will never see the light of day outside of an exhibition hall when they could be developing concept vehicles that people will actually buy. They have allowed an upstart bunch of computer geeks in Silicon Valley to nearly get the jump on them with a fabulous electric vehicle that, even at more than $100,000 a pop, will sell briskly when they enter full production. When one is spending upwards of $4000 per year on fuel costs alone, even a $100k price tag begins to look less daunting.

With its resources and existing templates, there is NO excuse for Detroit lagging behind the industry in getting such a vehicle to market long before the Japanese.

heck no no bail out. why would we want to bail someone out that imports from other countries for one. i cant even aford christmas this year why bail out a company because they make bad decisions. if i make bad decesion i have to live with it. so DEAL with it and quit crying auto makers. all these companies just need to learn how to do business better.

Since the big oil companies are reported billions and billions of profit each quarter, I had an idea that seems reasonable. Why can’t a panel be formed (such as Pickens, Buffet, Gov. of Michigan, etc.) to broker a deal with the oil companies to fund a bridge loan to the auto industry. The oil companies obviously have the funds, they are linked to the auto industry, it would save us from the disaster of a failing auto industry and resulting loss of jobs and the oil companies might be looked upon with a modicum of respect for doing this. The taxpayers won’t be funding it! Once the auto industry has retooled and gets back on its feet, they can repay the loan. It just seems like a win-win to me.

The market needs to run its course. Detroit – management and the UAW – has made second rate automobiles for years. It’s been obvious for years that Honda, Toyota, and others were making a superior product. Yet, the big 3 has not stepped up and become competitive. Thus, they fail – just like any other business up and down the street. Whoever in Congress votes for this bailout – I’m supporting their opponent in the next election. I hope they’re reading this….

Wow! Here we go again…I am a manufacturer, I have to compete with foreign imports, and cheap labor….All my products are made in the USA! My sales have even shown a 25% gain in the last 2 months. Who do I blame if I manufacture products that American consumers won’t buy? I would have to blame myself. If the big three built a quality product, and fuel efficient….I had a VW Rabbit in 1975..45 MPG, Honda has been producing a gas powered ZERO emissions vehicle for years that gets 30 MPG plus!…Don’t tell me or the public that the technology isn’t available. I’m sorry, but if the big three had built better vehicles, that lasted, then they wouldn’t be in this situation. I am against any more bailouts, or a “bridge loan”. Who is going to bailout the mom and pop restaurant that had to close? Who is going to bailout the corner grocery that has been there for 30 years that had to file bankruptcy? Who is going to bail out the butcher shop that just closed? Maybe the big 3 and the UAW, should scratch their heads and say what happened? Their bad decisions and greed, as well as now crying like 3 year olds to Uncle Sam, like spoiled little children for candy,(MONEY), is more of rewarding bad behavior, and EXTREMLY BAD BUSINESS DECISIONS. NO BAILOUT. NO BRIDGE LOANS.

One last thing…

Bailing out the U.S. car industry (and the global economy as a whole) is like communist Russia in the 1970-mid1980s — pumping billions in to an entity that everyone knew was outdated and dying… “Wishful-”, “Hopeful-” and “Magical-” thinking does not solve the problem of an INFERIOR product, service or concept. It is going to die eventually…

America is teeter-totting between failed communist practices and George Bush’s last breaths as the most destructive republican President ever… Thank God there is a an intelligent President-to-be in Barack Obama (and a real maverick in Joe Biden) instead of a weak grandpa and failed, clueless beauty queen.

A basic intelligence and an understaning of the world is a blessing… A superior one, in Obama and team, will help. Any money going out should be for INNOVATION not BAILOUT… It will take more than one Presidential term to sort out this mess, hopefully America will understand that.

I do not support a bailout for the big automakers. Lots of small businesses are closing/going into bankruptcy without receiving any help at all. The big automakers have the talent and resources to figure something out on their own.

I recall the ’80s and 90s when the imports were just starting to make a dent in the US market. The Big 3 and particularly the UAW would say again and again -”all we want is a level playing field.” Remember that?

Well, now the playing field is level. It just happens to be in places like Tennessee, Alabama, South Carolina, Indiana, and Kentucky. Car plants in America, employing people who appreciate their jobs and don’t have that “attitude” that is so previlant in the Big 3 plants. (Trust me, as a supplier to the auto industry, I spend a lot of time working in many car plants) The new breed of auto worker makes a decent living building good cars. They basically give a darn about thier job and company and have demonstrated such by rejecting unionization by vote.

Unfortunately, it’s going to be a long hard road for the old line union car worker. Contracts negotiated by spineless company management in years past are going the way of the Hudson.
UAW high wages, benifits like 95% pay for not working during layoff periods, lifetime health care are just not the real world any longer – at least, not on my playing field.

If a business like GM gets so big that it’s failure becomes can destroy the whole country’s economy, then we should consider limiting the size that a company can become. Else they should sink or swim on their own merits.

I believe we should be providing additional relief to the big three, but I’d also like to see the money invested into developing more energy efficient vehicles.

Maybe the government should use its bailout money to provide so-called DIP financing that will allow the automakers to file bankruptcy AND come out of it as stronger, more competitive companies. Of course, that would put the union contracts in play and those employees whose jobs have been eliminated might not continue being paid.
If the automakers are burning $2 billion per month, how long will it take them to go through another $25 billion of bailout money? Bankruptcy financing, on the other hand, might help them reduce their burn rate.

The UAW is the biggest downfall to the Big 3 and as long as the average worker gets over $73 an hour in total compensation any bailout would be a waste of money. The average worker at Toyota US plants gets about $40 an hour in total compensation. And let’s not forget the cost of health care and pensions for retirees who now outnumber workers. I’ll continue to buy a Toyota, Honda or Nissan since not only do they also provide jobs here in America but for the money their cars are infinitely better than the Big 3. Of course Obama will step in because a union is involved and he will do business as usual. Has anyone else noticed he is choosing people that have been in Washington forever for his cabinet positions? Some change…just more of the same.

this is what happens in a free market. it’s already been said a million times-keep this a free market and let those companies that made bad biz decisions for years fail, or call this market something else.

The big 3 in Detroit had more than enough time to introduce in the US the cars they already make in Europe and Asia- smaller, more efficient, less costly vehicles. they made a bad bet thinking they could keep selling “the american classics” …big, ego-driven cars.

let them burn for their greed, and manipulation. i could care less for their workers or their company- you should have followed your biz models in europe and asia.

NO BAILOUTS! These companies have way too much overhead to survive and stay competitive in today’s economy.

The government should let these companies fail. Then go in and buy up the remains cheap to form a new automaker. Hire workers at a fraction of what they make today (which would still be a decent wage).

Deflation IS coming….

Like most taxpayers out there I’m opposed to a bailout. However, if we must have one, I’d like to see something in the form of a “car credit” for the taxpayer to use to buy a new car, rather than just dumping money straight into the car companies.

For example, each taxpayer could get a $1,000 credit to purchase a new GM car. If the taxpayer chose not to use the credit it would go back into the $700B bailout fund.

This way both the taxpayer and the car companies would see some immediate benefit to the bailout.

I am all for the Help. If the automakers dont get it, The whole country is in even deeper trouble It is money well spend, not getting the help will cause a HUGH domino affect .

Seems to be a lot of finger pointing but lets be honest, we all as Americans have been running our lives just like these companies getting bailed out. We all have been living on borrowed money way to long and it seems that Hank wants to keep it that way. If you want change, it starts in YOUR house not on Wall Street, cut up your credit cards, pay the debt YOU owe, and get cash solvent. Lets get back to hard work and good decision making, I need to start doing it and so do you.

Looks like GM’s management and the unions will have to reap the benefits of the wage contracts that drove up their labor costs. With GM having so many financial problems now, do you really think that the $25 billion bailout is going to restore them to profitability? I don’t think so and I really don’t want to risk my tax dollars to find out.

YOU asked for SUV’s… YOU asked for Pick-up’s… YOU asked for BIG VEHICLES… If WE didn’t give YOU what YOU wanted… WE would have been in this position a long time ago… It’s the typical American I need… I want it now… But when things take a turn… YOU are the first to cry wolf. Where are YOU now that gas is $1.99… Haven’t heard YOU squaking much about GREEN when it’s good for YOUR pocket book… That’s kind of interesting don’t YOU think?

Folks that say let GM, Ford and Chrysker go down have no idea about what would happen next. There would be 20% to 30% unemployment within a year and we would have to go to China to get alot of our defense gear that used to me made by the big three. Sure, you total free marketers can have your principles – and cause a depression as a result. Sure, the big three have been mismanaged, but don’t throw the baby out with the bath water.
To fix things: I propose an easy terms loan instead of a bailout for the big three – The loan to be a a reasonable percentage and no bonuses or dividiends are to be paid until the loan is repaid. I also propose that each loan recipient be banned from lobbying the federal government until their loan is repaid. I finally propose that foriegn car companies be held to the same trade restrictions our companies are held to overseas.

As long as these corporations are asking for American tax dollars to bail them out of this economic crisis, then they should at the very least be willing to move jobs back to America. The government should add incentives to any bailout plan based on the corporations willingness to move jobs that they have sent overseas back to the U.S.

Bailout ?
Stop giving tax payer’s money to these three companies until they give up something fist.
They should cut worker’s salary(30% more), lay off union leaders, cancel the pension( why I don’t have one ?), and sell some assets. Bottom line – they should cut the cost to compete with Japanese companies, them govenment can lend them money.

“If the bankruptcy of the Big 3 means the extinction of the obsolete and worthless UAW Union, with their $70+ per hour labor and benefits, so be it.”

Could not agree more

No bail out for the Detroit Big Three. They just don’t get it – mired in an insular culture of arrogence too long. They were asleep at the wheel whne Honda and Toyota were investing in hybrid technology – more than a decade ago. What was GM thinking when it put the Hummer on the road. GM now says it has a full hybrid technology, offered only in big SUVs costing nearly $60K. How come Honda and Toyota are able to offer 45 MPG, five-passenger sedans for under $25,000?
If Detroit Three were saddled unreasonable health care costs, why weren’t they in the fore front of the battle for a universal single payer health plan? I suppose thye didn’t want to offen their fellow country-club Republicans, right?
Give them the boot! The conomy couldn’t get any worse anyway!

how ironic that one of the main players in killing the electric car now may pay for it 20 years later. wonderful long term vision by GM!

I am not sure how or why everone is so adament against funding an industry that this country was founded on and needs to be protected.
But we have been hood winked by AIG repeatedly for money and then we see they have a party, to be exact 3 since they received the first chunk of change.
No one is screaming we just keep handing over money! WHAT is that about?

adding to comments made by Ronald

Malaysia Import duties on car Run as high as 300 %

The locally made car gets blown to the curb on a rainny day, if they dont take shelter under the bridge.

Of course, we should bail them out with a loan. The UAW should also come back with paycuts for union employees. GM execs should also take pay cuts. 1 in 10 jobs in the US depend on the auto industry. That means 1 in 10 Americans will lose their jobs if they go under. That doesn’t include the problems the other 9 people will have because millions of us will have lost our jobs and can’t buy goods and services. The trickle down effect will hurt us all.

GM (and the other two) have been building GREAT cars with HIGH quality since the early 90’s. You foreign car buyers just haven’t been paying attention. The most popular, wanted car in China at the present time is a BUICK!! All that money you have paid for foreign cars has gone right back into the economy in Korea and Japan. Their import tariff rates on American made cars is about 25-30%. The import rate on foreign cars from them into the US is about 2%. They’d buy OUR cars if we could get fair tariff rates. (Thank you US Congress). Go drive a Ford or GM product today if you drive a foreign car. You’d be pleasantly surprised.

No bail out. Let there work force take a pay cut and learn to live on less like the rest of us. They should have been making more energy efficent cars & trucks before now. Do away with there unions and maybe all there outrageous wages & spending.

I always have felt that a bailout would be the best thing to do to help the Big 3. I have changed my opinion after reading up on the UAW. Workers on the line were making up to $78 an hour? This is disgusting. Some attorneys do not make this type of money. Even $25 an hour is a lot. This should be a $30k starting salary job and maybe increase up to $60k a year over a 10 year plan. The UAW is greedy in my opinion. I know factory workers here in West Virginia that do work for minimum wage that people on those automotive lines wouldn’t know even what to think. If I knew I could make that kind of money in a factory I would have never went to college and spent $70k on an education so I can make $15 an hour starting salary working in a dangerous environment at a prison.

Have the BIG 3 merge into one. Have the government give a loan to start the process. They need to compete. Currently they are reacting to other car companies.

American people are so uninformed our cars are as good if not better made. I worked hard in a auto plant an we made the best Mini van. Chrysler has come along way on quality issues an we are the best at what we build ,americans are buying into misinformation from the media that wont cut us a break

Wake up people… A $50B bail-out for the auto industry is pennies compared to the $150B in lost tax revenue this country will miss year-over-year. Detroit built cars to meet the demand of the times… If Detroit didn’t build to demand they would be in the same position just from a different path. Demand drives business… Auto, technology, etc… And yet we bail-out banks which are sitting on the $ that still hasn’t made it’s way to the people after how many weeks? Get real… Or it will get real for you really quickly!

Those saying let them burn are those sitting behind desks staring at their Hondas, Toyotas, and Hyundai pieces of junk. As a contractor there is no better builder of trucks in this country or towing vehicles than the big three. Get a clue people, can’t tow with a Camry and can’t plow with a Tundra! Those desk jobs are secure. Blue collar really runs the country just look at the past election!!!!!!!!!!!!!!!

I completely agree. This country has been catering to the UAW for years! The American auto industry has come to the point of inefficiency where it serves the few poorly. This country what our business principles were based on! We we can go back to the the many will then be served more effectively!

I’m against bailouts in general. However, what do you think will happen to our already terrible economy is the auto industry fails and all of those people are out of work? If you think we are in a recession now, wait until you see what happen then. Instead of an actual bailout, how about a stimulus package that you can only use for a big ticket item such as a car, residence or such. Wouldn’t that stiulate the economy? It could come in the form of a tax credit or an actual payment toward big ticket items. I would buy a new car if I received $5,000 to $10,000 toward one.

Please correct your comments calling it a bailout. It is the negative comments from CNN that are destroying this country. I hope CNN is brave enough to print this. When the government helped Chrysler with a loan, it worked well. The auto industry is asking for a loan payable with interest. It will utimately not cost the taxpayer and making the false notions about a bailout is wrong.

The unions and poor management got the Detroit auto industry in this mess, let them get themselves out.

As the Big 3 failed to break even when the economy was good and everyone was buying SUVs , Pick Up Trucks (highest profit margin and less competition), V8 why would you help them out now?

1) They don’t have the cars for the changed market
2) Throwing good money after bad is never a good idea
3) Obama will tax me high anyway don’t need more spending on MY shoulders

I am a UAW worker from Kentucky and I blame the management of these companies for not taking the initiative to cut the pay for CEO’s and upper management and using the money to revamp their vehicles. This has been an issue for years, it didn’t just happen. They chose not to comply, so if there is a bailout it should come with solid regulation as to the development of efficient cars.

As a UAW member I pay taxes, also. We all make choices in our lives that affect our future, I chose this occupation, but I am trying to move away from it, to better myself and be more competitive. The workers are the UAW and we receive our wages based on the jobs we do so well. We make what they chose to build, we shouldn’t shoulder the blame.

No bailout for automakers. That’s what Chapter 11 and bankruptcy is for.
Let them reorganize.

they need to go intp bankrupsey as any individual or business would have to do if they can not spread there for enough to meet there obligations–

So the government should bail out a business because it can’t take care of itself. Survival of the fittest… let them go the way of the dinosaurs. Lets all remember that income taxes were intended to be a temporary thing, and now we are using them to bail out businesses that can’t hack it?

I don’t think we should bailout Detroit. If we bail them out, then we should bail out everyone else too including state governments. No more employee pricing gimmicks to buy fuel sucking large SUVs and trucks that hurt our environment just to make a buck. It is time to invest in our future and be more earth friendly and not reward those who cause harm.

Not a dime to Detroit until they do away with the UAW and their absurd priorities – Pay our people but bankrupt the company. Isn’t that killing the Goose laying the golden eggs??

Rather than a bail out, how about a government backed loan to consumers who buy an American automobile. The vendor (GM, Ford, Chrysler)should be required to sell the car at or below cost, the loan 50% guaranteed by the government, and the consumer subjected to realistic credit approval terms. That way, the manufacturers raise cash, counsumers get a deal, and government cost could be minimized.

I am BEYOND pissed off with my Government!! I am a 25 year old man that understands that greed knows no sex, color, religion nor creed! If you looking for my 2 cents on the big 3 bail out the answer is YES!! Because if you don’t, the DEPRESSION that’ll follow after the 3+ million jobs lost in the production plants in the US alone, followed by the other plants and dealerships around the globe that WILL go under, will make the great depression seem feeble! But what do I know!?!? I’m only part of the generation that’s gonna have to foot this bill after these CEO’s that get 10-30 million dollar bonuses expire!!! What can you do with a $10-30 million bonus? How about putting it back into your company? Maybe invest in some fuel ionizers for improved mileage? I’ve got a ‘07 mustang GT convertible (auto) averaging 23 mpg in the city and 30 on the interstates by clamping on a magnet over the fuel line that I paid 24 bucks for on ebay!!!! There are solutions! With this bail out NEEDS TO BE NEW GUIDELINES!!!!! Current practices now need to stop! Upper management should get no higher than $1 million in bonuses. NO EXCEPTIONS!! Invest in better parts! Design interiors that someone can feel comfortable driving in (do they know how many people pass up a car because of interior?) Make SUV’s to order (don’t care if there are hybrids now. The big 3 have the power to force the gas guzzler into a niche!) Those that want speed? Ditch the 8 cylinders (yes I know I own one myself…)and Supercharge a 4 or 6 cylinder engine!
Sorry, that was a serious rant. But here’s my big picture:
1) Bail them out! 2) Change the business and production practices of the Big 3! 3) STOP PAYING THESE UNIONS SO MUCH MONEY! 4) STOP GIVING THESE CEO’s ENOUGH MONEY TO BUY SMALL COUNTRIES! If you do this evereything, for the most part, will be peachy!!!

If AIG was “too big to fail”, how can 2.5 million jobs based upon the us auto industry not fit the same description? As much as the Big 3 can only blame themselves for this, all the banks that made terrible decisions and loaned money to people who had no chance of repaying it can only blame themselves. So why do they deserve a bailout and not our manufacturing companies? It is hard to have an economy when you don’t manufacture anything.

As long as it’s not tax payers money. Do you want to give an employee terminated with 15years service a buy out of $50,000, health insurance and a coupon for $20,000 for a car. How about 1 weeks pay for each year and go to the Unemployment office. Like the rest of US

as i always say, “two wrongs don’t make a right, but three lefts do!”

Ok, the last part doesn’t really add anything, it’s just funny. But nothing is funny about Detroit and nothing is funny about the government forcing me to support a lame duck company in a far away state. Hello peoples, THIS ISN’T THE USSR!!!

Why give the automakers money to make MORE cars that John Q. Public cannot afford? A substantial stimulus check would help people be able to afford to put money down on a new car and that would help the auto industry.

Bail out: No
Assistance: Yes

GM declaires Chapter 11. The Goverment requires a few of the banks that have gotten bail-out money to provide low-cost DIP loans to GM. The Government requires AIG to insure these loans against loss for a discounted fee. The court ensures all domestic suppliers to GM are paid in full using the DIP funds.

To provide consumer incentives to purchase domestic cars, provide government sponsored rebates for domestic cars (not trucks, SUVs, or “re-badged” imports).

Clearly, current GM management would be held responsible for the situation and need to be replaced.

The American Auto Industries should survive on their own merits. To do so, major union wage and benefit reductions will be required throughout the Auto Companies and their suppliers. Do not provide taxpayer funding to institutions that were a major cause of our current problems.

Why bail them out – force a merger of all 3 to form a new United States Motors Inc – this is how it would be set up:
Chevrolet – low priced cars to compete with Hyundai and other Korean and future Chinese competition as well as the Fit and Versa. Price points up to 18,000 – Chevy keeps Corvette & Camaro (for image and posterity) and light truck line but no vans or SUV’s – gets to sell the Pontiac Vibe as a Chevy product – this is the volume company – to make $ at this low price point they would need to sell a lot of cars to rental companies and fleets so they have to be world class small cars.

Ford – mid-priced sedans and wagons to compete with Accord and Camry – priced from 19-25,000. Gets to keep Mustang and light – medium duty truck line but no SUV’s or minivans – continues selling Crown Vic to fleets only – you can make a lot of $ in this segment if your line is broad – maybe gets to keep the new Flex

Dodge/Jeep – will sell only minivans and Jeep products – will be only US maker in SUV’s – all under the Jeep name (could sell rebadged Explorer too) – drops Dodge trucks

Pontiac – enters mid priced Euro sedan market – target is buyers of ’sporty’ sedans and wagons like BMW ‘3′ series. Keeps Solstice – G6 remarketed as sport sedan – this will be the performance division – something Pontiac wanted to do all along. Will get to sell Dodge Challenger as a Pontiac – maybe rebadge as Firebird and sell mainly V6’s

Cadillac – remains in high end Euro sedan market with CTS based cars – drops out of large car market – drops Escalade – goes head to head with Lexus and upper priced BMW’s

Lincoln – remains in high end large sedan market as traditional American large luxury car – leaves lower ‘near luxury’ market to Cadillac

ALL profits accrue to the benefit of the trust fund that has to pay for the health care of retired workers – why should the federal government be burdened with this expense – there will be NO stockholders – the company will be run as a non-profit trust – therefore no bonuses and no high CEO salaries

If they go down the country goes down. They are too important to the overall economy to fail. The last time Chrysler got bailed out they paid their debt off early and the government made $300 million. Good for both sides.

The Detroit “Big Three” and the UAW are in a bed of their own making, and deserve to suffer the logical consequences of their actions…not to mention their even more egregious inaction. While I feel enormous sympathy for the families of these companies’ employees who will suffer financially if any of the Big Three go under, I don’t believe the government should attempt to prop these firms up with my (or my children’s) tax dollars.

Instead, I would rather see government money used to financially assist displaced employees (both white and blue collar) with extended unemployment, medical insurance premium support and re-training to help them obtain alternative employment.

I don’t think perpetuating the existence of three poorly managed, strategically disadvantaged, bureaucratically moribund, and financially insolvent enterprises makes any sense whatsoever. Better to take the short term pain, no matter how severe, and let the restructuring of the auto industry that is long overdue run its natural free market course.

It is fundamental to capitalism that companies be allowed to fail. As a nation, we cannot allow ourselves to be held hostage to the notion of “too big to fail”. We simply can’t afford to.

Transportation sector is vital to country’s development and we must keep them alive. Their contribution to science, engineering and technology is great. You shouldn’t forget their contribution during war time. It is very important to keep heavy industry alive. Once you loose it, building such infrastructure and getting such expertise (trained people) is difficult and will take long time. When you are able to throw 700 Billions to the fat cats, why not to a back bone industry?

Airlines are service. Retail market is a service, Banking is a service, Insurance is a service. If you don’t have service that is fine. There are many people to start such service again. You can’t loose a infrastructure. How important military is for a country’s protection, I will rate heavy industry next to Military.

If Govt. will not save them, I will rather suggest people to donate sum $$ to GM and save them. It is prestige of our nation and #1 Auto manufacturer in the world.

On the contrary, GM should shed their fat. If bankruptcy is the only way for them to do it, then they should do it, but re-emerge successfully. If I am Govt. I will ask them to file bankruptcy,
And give 50 Billion to restart after shedding their unwanted fat. There is a boon waiting for them.
I could foresee that GM stock at $100/- by end of 2009.

Poor leaders, both Union and Corporate, made decisions that favored them, the corporation and the shareholders. Their decisions drove the company into its current state and not without the support and cooperation of rank & file union members.

Union members, take warning when leaders share, promise, propose deals which are impossible to deliver.

Shame on those in power, Board of Directors, Company Sr. Executives, Union Leaders. Your absent minded role, greed, or both has been revealed.

what about the working people like us? who is going to bail us out? All the bad decisions that were made by the Wall Street, which cause this mess get bailout. What about people like us that lost significant amount of money in the 401K account? Don’t you think it is time the government allow the people that lost money in the 401K to write this off as a lost in investment? I’m so sick of hearing all this businesses get bailout while there is no help for the working people like us. The Democrats and President elect should really focus on helping the main street as they stated in their campagin promises. Or is it just more empty-promises from the politicians???

Management is the main culprit. They have shown a lack of vision, a willingness to give up market share and just plain arrogance.
If government can hire someone to manage their investment, clean up corporate management, reset salaries and wages to a competetive level and renegotiate union work rules, I am all for a government investment.
I believe that the auto industry is too large a part of our economy and national prestige to lose. In return, the companies need to produce products people want and show us some tenacity.

I do not believe the automakers should get a “bailout” so to speak, but should be able to have access to short term loans at a modest interest rate of 2 or 3%. This way they will get the short term funds they need without a taxpayer hit. Also I think that the government should be able to make the loans, but to sell them to the big banks to carry out so the taxpayer is never on the hook.

The government should write new laws governing workers rights and eliminate unions which have become corrupt and choked the life out of our country.

Where does the bailout end if we start bailing out corporations that made foolish choices like GM and Ford? Dealers have new 15 mpg trucks and non-fuel-efficient vehicles that GM and Ford has produced to line their pockets, then the automakers give those of us who want fuel-efficiency crumbs like the Chevy Volt in 2012, and oh- it will cost $40K. What? So much for automakers trying to do anything for America. So how benevolent should America be to them?

There exists no convincing historical evidence that if given a financial bailout the big 3 won’t continue lumbering through the next decade on the same old path to destruction they have been hell-bent on for years. But American taxpayers will be saddled with the multi-billion dollar price tag to keep the giants alive and breathing. America just expressed its pent-up hatred for Washington politics as usual, why should it not demand the same change of corporate America, begining with the Big3?

We have outsourced everything else soooooooooooo.

If we let the economy run its course, it will cause a lot of people to lose their jobs. While this might sounds like the end of the world, I believe it will actually help everyone in the long run.

How? With the economy going down, the cost of living will go down, prices for everything will go down. Including the cost of operating large companies. There will be less need to outsource jobs because Corporations will not have to pay astronomical wages to people who, quite frankly, don’t deserve to be paid that much. It could also be the end of the Union Worker structure that has been choking our economy for years.

There are reasons Detroit failed and there are reasons the auto industry must pay the consequences. This may be beside the point in a global economy but how many of those vehicles are made (even assembled) in the U.S.? Doesn’t GM pay its workers not to work? What kind of management is that? There has to be an end to these bailouts. Investing–throwing money into a void, really–in this failing entity makes no sense. What about student loans–loans (not bailouts) that are in jeopardy because of the credit freeze. Students are an investment that can pay off down the road but more and more of them are leaving college because they cannot get loans.

Mr Fields from Tennessee, you may want to reconsider your tariff theory:

The Smoot-Hawley Tariff Act (sometimes known as the Hawley-Smoot Tariff Act)[1] was an act signed into law on June 17, 1930, that raised U.S. tariffs on over 20,000 imported goods to record levels. In the United States 1,028 economists signed a petition against this legislation, and after it was passed, many countries retaliated with their own increased tariffs on U.S. goods, and American exports and imports plunged by more than half. In the opinion of most economists, the Smoot-Hawley Act was a catalyst for the severe reduction in U.S.-European trade from its high in 1929 to its depressed levels of 1932 that accompanied the start of the Great Depression.[2][3]

NO
Why have all the exec’s earned millions in salary over the past several years?

NO NO NO NO NO they should not because when they get back on top they will not give me a brack when i buy a car from they all they will do is take all they can get from me & forget that my taxs money help them when they where down so as i said NO NO NO NO

Let them Die! Crappy products don’t deserve more and more $$. Auto dealers in the 1940’s have nothing to do with the awful cars that are produced now. It is everyones right to purchase the best quality for his or her own dollar. If Detroit can’t get it right then bye-bye!

No bailout for any companies! Certainly not the auto companies that lacked to foresight to see this coming. No ones going to bail out my failed business.

Everybody, especially the press loves to use the term “Bailout” as if it is a gift, a freeby giveaway at the expense of the people.

As I see it though, it is a loan, not a gift and it must be repaid, just as Chrysler did years ago. Although it may be an unintended consequence that some execs may benefit, in the big picture, it is the people that benefit through jobs and benefits. Somewhere I read that a manufacturing job has a multiplier of at least 3x in the economy. We need more domestic manufacturing. Manufacturing add value. We have already sent to much manufacturing to China. The ecomomy should have balance between service and manufacturing to be strong. Someone once said that you can’t have an ecomomy based on selling each other hamburgers.
Helping the automotive industry may also get us some leverage in getting fuel efficient vehicles on the road at affordable prices. That would help us knock the heck out of gasoline prices for a longer time.

You run a good business and sell a qualiy product, then no problem. You run your business into the ground, allowing unions to name their price, you sell an embarrassing product, then you GO OUT OF BUSINESS. Very simple.

Yes, bail them out and we take profits.
We put people in to build cars that are not gas guzzlers. Let us vote on managers that we belive in and Washington keep their hands out of it except for funding. If we are going to bail everybody out, let the American people has the profits, I am talking about paychecks back to us. Looks like we the people need to be paid back.

What ever happened to the steel industry?

That’s the same thing we will be asking about the auto industry in 25 years. Let nature take its course. Death hurts, but everyone will get over it.

To Tony who said: ”

Good god! This is not about saving a mismanaged company, this is about saving our economy! People, wake up and smell the collapse. I cannot believe what I am hearing. “Let them all go bankrupt and teach them a lesson”. How about teaching yourself a lesson on simple economics.

If the Big 3 go down, mismanged or not, you are talking about anywhere from 5 to 10 million people out of work. That is an estimate as the totals are probably higher. Then, you let the banks and finance markets go down, millions more jobs lost. Then because millions upon millions of Americans are out of work, nobody buy and the retailers start dropping one by one.

All this basically leads to a very unstable America and weak America. You can be angry all you want later, but right now we need to stabalize this situation. If that means bailout, it means bailout.

So before you start posting about not bailing out any companies, think of the ramifications of that statement before you make it. Think of the chain recation of horror that would cause across the country and the globe. Think about children living in the streets hungry because their parents cannot find work. Think about the neighborhoods that would eventually rot away into nothing because half the street was forclosed on and nobody could get approved for mortgages to buy houses and finally, think about where you would be and how this would effect you and your family.

Anyone that thinks we shouldn’t bailout is ignorant.”

I have no problem with a bailout or Socialism for that matter. my concern is that unless these companies can return to profitability, no amount of bailout funds in the world will save them. Unfortunately we will only be delaying the pain. It seems to me that there is no saving the American auto industry. They just cannot compete in the global market. Their production costs are too high and those Americans that can still buy a car don’t want American made vehicles because of their poor reliability, and fuel economy. They have so damaged their brand that they might be better served in filing bankruptcy and closing shop. Then perhaps this will make way for a new American company to enter the market and provide efficient, sensible vehicles.

Unions killed steel, now they’ve almost succeeded in killing the American auto industry. No bailout, no rewards for greed and neglect, but that will likely not happen. The unions have bought a brand-new president and he has debts to pay.

The government with the help of the media created a bailout frenzy. Now, we are finding out that Paulson wants to change his original plan from buying bad mortgages to helping banks balance there books. If he didn’t have a firm idea of what to do then waht was the rush? THE MEDIA HELPED THE GOVERMENT STEAL OUR MONEY!!!! Without them the government never could have rachet up the fear level. Our forefathers would have started a revolution over such gross misconduct. If the US government doesn’t wake up soon they might find themselves in a similar situation. They, the government, is here to serve us not us them.

Only an idiot would throw money into a burning fire and expect it to increase in value. The mismanagement and unions have ruined it for themselves.
Let them go bust!!!

I was laid off about a month ago and I don;t see any bailout packages coming my way! I’ve paid my mortgage on time and then some over the past several years, and what do I get when I am out of work? NOTHING! Meanwhile people who had no business signing up for a mortgage they couldn’t afford get lower rates and reduced payments! This is crap!

If anyone should bail out the big three it should be the oil companies that benefit from the gas hungry designs from Detroit.

Hell, no!!!!!!!!! They never knew how to make good cars!!!! So let them vanish. If they are so creative and American, why can they not compete with imports from Europe and Japan.

I think the automakers have had plenty of time to adjust to the gas crisis and the global economy that there is no way they should be bailed out. They have been charging 40 thousand dollars for vehicles that dont meet the needs for us today and can only blame them selves. If you look at VW, Nissan and other company’s they have adjusted and prospered.

Yes. Just how large of an economic tsunami would GM, Ford and Chrysler create as they went down. I can swim but not that good.

All of you that say let them go. How would you like your retirement plans and health care drop kicked out the back door by a Bankruptcy Judge? If you don’t think it can happen, just read about the Bethleham Steel bankruptcy and more recently and more recently Houston Energy ( Houston Natural Gas at one time was Old Ben Coal Co.) My mother’s survivor’s pension and health care was paid for by the UMWA after Huston went belly up.

I really don’t think you want to see the effects of the Big Three going under. I know I don’t. And, there is no disclosure either

BMW, Toyota, Honda make cars in this country. Does naybody mention this. Why do they not need a bail-out. Cause they make good vehicles. Let them croak along with their insane, immorally paid executives.

Yes they should. By not giving them the loans will cause the Big 3 to go under. Then you have over a million people pensions being taken over by the Goverment. So do we want over million retiree’s living off our tax payers money for the next 50 years? Because thats what will happends if they go into the Goverment pension fund.

GM got into this mess by having the unions and government tell them what to make and how much to pay their employees. Now, they are putting out overpriced junk and no one is buying it. Giving them more money for more junk is not the solution. Let them build quality cars at an affordable price and the whole world will buy their vehicles again. The big three all need to go bankrupt to shed the government and union restrictions. Who knows, a new company might emerge from the former three that will create more jobs and bring up our GDP.

Is the UAW in trouble of going under? Why not have them bear part of the bailout?

Please don’t tell me that Big Three make junk cars. My in-laws have two Camry – this is how junk looks like. I have top-of-the-line 3-series BMW which travels in and out of the shop.
The huge improvement in quality of US cars has happened in the last 10 years. Huge. Unfortunately people still think in terms of 70-80s when Japanese quality was better.

My guess would be that if the government failed to bail out the big 3, at least one of them would survive and likely grow strong. The UAW would lose a great deal of its clout and power, which would be a wonderful consequence. Second to the greed, ignorance, and frivolity of the automaker’s executives, the unions are crippling the industry. When, as a high school junior, I entered the construction business as a laborer, my wages were based on how hard I worked and hustled, in short, on how much I was worth to my boss, not on the power of a negotiator to secure me a wage greater than my value to the company. The same was true of my relationship with employees when I began my business. You work hard and smart, you get raises. You shirk responsibility and perform lazily you get cut. That’s it, simple!

Why should anyone expect to be paid more than they are worth to their employer? I, and all of the private contractors I knew, would consistently produce far more, and just as good quality, as our union counterparts, making the cost of our products lower. Unions have played an indispensible role in securing fairness for laborers from corporate America, leveling out the playing field with management, but they have driven too far and overextended their usefulness. It is by far better for a laborer to have a dependable job with a sound company at $35/hour than no job with a bankrupt company at $45/hr.

Any UAW laborer making $45/hr. who voted for Obama because they thought McCain was out of touch with the American people, needs their own reality check! No UAW laborer is worth $45/hr. and $72/hr. if considering the entire compensation package, and you are about to come to that realization, bailout or not, because, as they say, “the proof is in the pudding”. If you were worth your union contract, your companies wouldn’t be going bankrupt. Your greedy unions share the blame with corrupt, incompetent management.

The only difference getting a bailout will make is to give employees an extra year or two to find a job in another market, at half the pay, because the Big3 have proven that they are incapable of change, especially saddled with the UAW, and hence will soon be right back where they are now, but the whole country will have to pay the price for prolonging the inevitable!

If unions lose a great deal of their power, wages will drop, but so will the cost of production, curbing inflation. You don’t need as much income if the cost of goods decreases proportionately. This would in turn make U.S. companies more competitive globally and tend to bring jobs back home, answering the current dilemma. The benefit of unions is to negotiate fairness between labor and management, not to out price an industry. Probably the biggest benefit of the Big3 dying would be in crushing the unions.

Most likely something can be salvaged by the private sector, of the big 3 that don’t make it, and they will revive in a different form, perhaps split up into numerous smaller companies. But the industry will survive and likely flourish, after initial shock and upheaval, for the simple reason that demand will remain great for American produced automobiles.

On the other hand, there exists no convincing historical evidence that if given a financial bailout the big 3 won’t continue lumbering through the next decade on the same old path to destruction they have been hell-bent on for years. But American taxpayers will be saddled with the multi-billion dollar price tag to keep the giants alive and breathing. America just expressed its pent-up hatred for Washington politics as usual, why should it not demand the same change of corporate America, begining with the Big3?

NO!!!!!

no bailout. I’m sick and tired of our tax dollars going to bailout these corporations.

Why not have the UAW bear part of the bailout?

Enough with the bailouts. Who’s next on the handout line? Well, I want to be next. I owe $80,000.00 on my house. Payoff my mortgae. I will then have $2,000.00 every month to put in to the economy. If everyone could do that, I believe our economy will flourish more quickly than what these money grubbing, higher than mighty free spending corporate morons can do for us. How about a move by the nation to have the U.S. Government pay off our mortgages. Then we can all spend more freely to jump start the economy?

let them fail just like every other car company that went under

I don’t think the BIG three should get our hard earned money for a bailout. If I wanted to give them money I would have simply bought a car from them. Am I going to get a car from them with the money that the government is going to give them that I paid to the government? I don’t think so.
Now Ford is the only one that seems to be doing the right thing. They have the products out there that they have denied us for a decade that will bring people back to the dealership and want to buy American again. The other two, not so much. GM you just have to laugh at the products they design that they think many of us want.
The nail in their coffin was a little test they did themselves. They made 3 cars and had the American public vote on it. Then when the clear winner was chosen, GM came out and said that they car that won was never intended for the American public. So you spent R&D on a project to never make it into American production. Hmmm I want my money to go to that type of mentality. Now don’t get me started on the Volt and the Camaro.
The American public should not pay for something that will as it is looking NEVER come back to benefit us. If Ford does what they have said they are to do next year and are on track to do. I will be putting my hard earned dollars into a new Ford product.
Wagoneer has publicly stated that while he wants the money he does not want to be told what to make. So to that he does not deserve my money as we have told him what we want and then denied it to us. Sorry GM you fail. I know the repercussions of it will cause a lot of damage but if we put our money into it and it vanishes with their eventual failure the damage will still happen and our huge bailout will go into these CEO’s golden parachute.
I know many mention the unions and I do think they are part of it. The management of these companies is well beyond normal comprehension. So the two of these combined have made the mess. In the end it looks like Ford has the best chance of weathering the storm.

Enough with the bailouts. Who’s next on the handout line? Well, I want to be next. I owe $80,000.00 on my house. Payoff my mortgae. I will then have $2,000.00 every month to put in to the economy. If everyone could do that, I believe our economy will flourish more quickly than what these money grubbing, higher than mighty free spending corporate morons can do for us. How about a move by the nation to have the U.S. Government pay off our mortgages. Then we can all spend more freely to jump start the economy?

When we where producing the Geo Metro in the early 90,s people laughed at them and their 40+ mpg rating and bought the bigger vehicles!..now you blame G.M.for not giving you what want and demand!..how quickly you forget that they build what sells,you didn,t want then then!

The real question is: Will the goverment bail me out when I get laid off due to a bank merger taking place at the end of the year? Who is gonna pay my bills when I can’t?

Why do we treat corporations in Detroit like they are gold? Their products are inferior anymore (I WON’T) buy another GM vehicle again. The UAW shoudl take a pay cut! These are the same people that stricke for NO REASON other than to whine that they are not making enough when they are in the top 25th percentile in the US for wages!!

I say, let the car makers fail, unless they want to cut the UAW wages. Let the UAW whine and cry!! Better yet, let them strike and THEN replace them with all non-union workers that WANT the jobs, and care about the quality of their work, and are happy to make less because they have a job!

CASE CLOSED!!!

Not unless they change the way they do business and improve the quality of their cars. And not unless they get new management at GM. In a way, bankruptcy will be the only salvation for the auto companies.

I worked indirectly for GM for a few years, and you have never seen such a screwed up way of doing simple tasks. They totally waste time and money accomplishing basic things. The morale in these places is poor too because everybody is always afraid they are going to loose their jobs.

Then there are the over-paid unions which have caused most of these problems. These guys shouldn’t make more than $15 an hour. Why should our country reward a lack of education and unskilled labor? Why should they get all these pensions and benefits? Their jobs are no more important or harder than anybody else’s, and they have to realize this and be paid accordingly.

None of these changes can happen as is, so an overhaul is needed. Only bankruptcy can provide this.

The only reason why a Democrat congress is calling for a bailout now is because the US auto industry and the unions gave a lot of money to the Democrats during the last year. There was an election two weeks ago and the winning party is rewarding one of their major supporters, the unions, with public money in the form of a bailout to the auto industry.

It will not matter whether we bail out the car companies – and everyone else who wants a handout. It’s only robbing Peter to pay Paul. The debt remains – on some other set of books. We, as a world have allowed, even nurtured this practiced ever since the first greedy salesman agreed to take payments over time for something his customer could not afford.

Credit is drying up because everyone is finally realizing it is poisonous to the very fabric of life as we know it. So, now, since we can’t get credit, why not just GIVE us the money!! What a great – incredibly stupid – idea. (Sarcasm intended.)

When credit stops entirely, only then will the world begin living in reality. Oh yes, there will be strife, misery, gloom, doom and death on the way. Perhaps even I will meet my demise from a combination of hunger, thirst, disease and civil unrest. But the notion of throwing more money that doesn’t exist at any of these problems is like betting on a roullette wheel that does not bear the number upon which you have wagered the future.

We all know the current world economic model is broken beyond repair – FUBAR. I say let it crash while the number of people effected by it is less than it will be tomorrow, next week, next year or next decade. No miracle cure is on the horizon. Paulson is performing surgery on a dead horse, just so it looks like he’s trying to do something.

It will not matter whether we bail out the car companies – and everyone else who wants a handout. It’s only robbing Peter to pay Paul. The debt remains – on some other set of books. We, as a world have allowed, even nurtured this practiced ever since the first greedy salesman agreed to take payments over time for something his customer could not afford.

Credit is drying up because everyone is finally realizing it is poisonous to the very fabric of life as we know it. So, now, since we can’t get credit, why not just GIVE us the money!! What a great – incredibly stupid – idea. (Sarcasm intended.)

When credit stops entirely, only then will the world begin living in reality. Oh yes, there will be strife, misery, gloom, doom and death on the way. Perhaps even I will meet my demise from a combination of hunger, thirst, disease and civil unrest. But the notion of throwing more money that doesn’t exist at any of these problems is like betting on a roullette wheel that does not bear the number upon which you have wagered the future.

We all know the current world economic model is broken beyond repair – FUBAR. I say let it crash while the number of people effected by it is less than it will be tomorrow, next week, next year or next decade. No miracle cure is on the horizon. Paulson is performing surgery on a dead horse, just so it looks like he’s trying to do something.

What’s the sense in throwing more (taxpayer) money into bad business? Let them file for bankruptcy and restructure. The UAW should share in the blame as well; their excessive benefit and pension programs will most likely stifle future profits.

What is going to happen when foreign automakers complain to their governments and the WTO that the United States is being anti competative. Will we get mad when Japan helps their companies compete in an anti-competative american auto market. Plus we have Indian and China now starting to make cars.

We need the US Auto industry to consolidate and we need to make cars that will not only sell in the US.

Here’s something to think about. GM is still the largest auto producer IN THE WORLD. Letting something that large fail is going to be catastrophic to our economy, period. It will ripple through our economy… steel, rubber, car dealers, restaurants. Japan sinks billions into its auto industry because they know what an important role it plays in the fundamentals of their economy. They would never let them fail.

NO WAY should the auto industry get any kind of a Bail out/Loan. This country has been getting by too long on deficit spending and GREED. GREEDY CEO’s and GREEDY UNIONS. If management does not have a good business plan and Labor is determined to bankrupt the company they work for then let the economy fall on it’s butt. Maybe what rises out of the ashes will be an economy controlled by ethics instead of GREED. GREEDY people buying things they can’t afford are encouraged by GREEDY LENDERS to take out loans they know will default. Who in there right mind would allow someone to but a house with less than 20% down. If you can’t afford it DON’T BUY IT!!!!! The TAXPAYERS are TIRED of bailing irresponsible, GREEDY people out of trouble. It is not the governments job to help stupid people continue to be stupid!!!!!!

While I am unwilling to write another check like I did for the bankers without some stipulations and amendment of outdated work rules, please quit beating up on autoworkers! They only build what management tells them to. It is STILL a managerial perogative to direct and control the work process. Therefore it is their responsibility and their’s alone. Is management willing to give any of this “right” up in return for taxpayer monies?

Unions in general have given up concessions for 30 years and look where it’s got US. When’s the last time GM or Ford opened a new plant in this country. But are they opening new plants in China? You know damn well they are! India is next… if not already.

It’s clear that other auto companies like Toyota and Honda can pay a decent wage and build more fuel efficient vehicles with American workers in this country. Why can’t GM and Ford do the same? Inflexible work rules can be amended but let’s put the blame where it belongs – MANAGEMENT.

As for legacy costs, they were negotiated in good faith and if management did not take these into account when projecting future operating costs who’s fault is that? When is a contract a contract or is that something you declare null and void because things aren’t going you’re way? Oh, I forgot in your business model, management does it all the time. But that’s different right?

Maybe we should just euthanize all UAW retirees because they no longer contribute to GDP… What the hell, they only worked 40-50 years, put many of us through college, and now we’re just waiting for them to die. What does that say about us, their children and grandchildren?

All I’m hearing from many of you is a lot of whining and the politics of envy because you’re not an autoworker. Get some testicular fortitude and organize a UNION and you might earn a decent wage like they do. Just because you have a college degree doesn’t make you worth more than some autoworker who doesn’t! The college educated are the largest “entitlement” group in this country and some of you management wannabees actually believe it.

And for all you who still believe in the business model of unregulated free markets move to Saipan if you can find it on a map. No unions, no environmental regulation… but plenty of prostitution. It’s a capitalist paradise!

Why is it that bankers who have defrauded US of trillions merit a bailout but some autoworker doesn’t? Especially when this autoworker had so little say in what type of vehicle the company should build. Perhaps the UAW and other unions should start to focus on investment and innovation instead of settling for downstream crumbs… That would truly be a new business model. But I doubt if it’s the one many of you had in mind!

Just another college-educated dummy with an 11-year old Ford F150 built by union labor and proud of it! Probably need to go back to school and get my MBA – then I would really know something!

I can’t believe some of these postings. Give it up people. Its not the unions fault. Start pointing the finger on the goverment (NAFTA). Big 3 make good Quality vehicles. But the big mouthed anti union people would rather save 50 cents and buy something made overseas. Bottom line keep buying imports and the Goverment will bail YOU out.

the automotive industry is non-competitive globally. it makes no sense for the US to invest in non-competitive companies–we just prop up a bad situation and use limited resources to do so. only until the unions and management make the sacrifice necessary to be competitive should be consider helping them–I would suggest a permanent 25% wage, benefit and bonus reduction as a starting point

Bailout(s) needs to come with provisions that direct the funds to the most troubling area of that business. In banking it was the credit markets that prompted our government to issue the “emergency bailout” Who was this bailout really for? These banks and AIG, the king of selling credit default swaps? They have this money and they are using it to fund their outrageous bonuses, increase market share amongst the turmoil, take their private jets and have extravagant “meetings” in luxurious places. There is no mandate to make them lend or stop the financial transactions that put them here in the 1st place. Now they want us to pay for the auto manufactures short comings. We can not prompt them up for 20 plus years, this is inevitable that they will fail sooner or later and must fail now, or it will cost us a great deal more. Fact is Japan does it better we will not be without dependable vehicles. Are we to blame for poor insight on the development and research departments of these companies? When they were blinded by greed selling the SUV’s making (BILLIONS) and fore going hybrids, did we ask that they share in their prosperity? Our government is failing us as a people because they are too involved in big business. The real money is becoming a politician where you then have a gateway to everything you want. I ask this are any of our politicians saying we should scale back our cost for their own pensions, salaries and health care. NO and they have the best plans that OUR money can buy. I said no to the 1st bailout and I say no to this bailout. Our government will not set forth the proper guideline and provisions to protect us against frivolous spending. I would approve a bailout where the government put 800 billion in a fund where small business owners could borrow funds and payback these loans at low rates. That would keep largest public employing segment able to operate. Given the lean operation of most successful small businesses that would insure excessive spending would not occur.

The unions created an uncompetitive situation with Detroit. Now it’s time to pay the piper.

I don’t believe in throwing good money after bad. Should the lawmakers grant the industry $25 BB, or even more, it is highly unlikely (read: impossible) that this industry will suddenly become competitive. The issue is not whether it makes acceptable cars. The is that its cost structure is out of whack, and uncompetitive, on a global basis.

Pumpimg money into the auto industry is very similar to inheriting a bloated government bueaucracy laden with patronage jobs. When it comes time to cut the budget (jobs) and live within our means – certain people will cry foul – for jobs that never should have existed in the first place.

The government, particularly one party of our government, with its infinite wisdom, pressured banks to lend mortgage money to people who could not afford those homes. It was called the Community Reinvestment Act (CRA). In reality, it was government intervention and a social engineering experiment gone awry – and it has cost this country dearly.

Government is the most inefficient bureaucracy of them all. It would be irresponsible for a group of people so inept at business to once again intervene in sound business decision-making.

This entire issue is further clouded by the fact that one political party has more to gain (in the vote) by doing so.

We deride lobbyists and special interest groups for pushing their agenda for their own benefit. How can a rational person not fear that politicians would risk imprudence to simply get the vote.

We should do what is right in this country. When companies make bad decisions, the market should weed them out of existence.

Have you noticed all the companies that are now standing in line with their palms out? Who’s next? Do we bail out credit card holders and their creditors for an inability to pay off personal debt? Where will this end?

We have to take responsibility, as individuals, and as a nation, for our poor decision-making. There is no easy “out” with this situation. Let the chips fall as they may.

The big 3 refused to re-tool their industry when they were warned about our overdependence on foreign oil. Instead they built bigger and bigger SUVs that guzzled gasoline while OPEC gained control of a huge portion of our economy. Now they want a bailout? They won’t even take an SUV trade-in! Let the government reimburse every american who can’t give away one of those road monsters to the tune of a comparable replacement hybrid or cash.

Why should we bail out the UAW pension fund? My 401k is way, way, down,… I am counting on it for retirement. Can I get a bailout too? No, cause Pelosi doesn’t love me like she loves the unions.

Do what we should have done with this bail out. Say no.

On the one hand, I irks me that we would consider bailing out such a horribly mismanaged company that can’t bring itself to build products most consumers want. On the other hand, the reality of it is that if the Detroit 3 go down we’ll no longer be in a recession but a full fledged depression.

How about we scrap the EPA’s outlandish regulations so GM, Ford and Chrysler can offer us those nice fuel efficient vehicles they currently sell in Europe? Europe has emission standards that are reasonable. If the EPA has their way the exhaust from your vehicle will be cleaner than the air coming in.

A “bail out” to these companies is not really a bail out at all. It only lets them continue on the same path to ruin, just costing us a lot of taxes along the way. The business model is bloated, so are the union employees. I’ve got a Master’s degree and 10 years experience, and I don’t make anywhere near what a guy who installs seats in a tin can makes. My health care premium is almost as much than my car payment. These guys don’t live like the normal worker in this country; I’m not giving them one more cent to fritter away if I can help it.

Ford and GM have assets they could have sold to raise cash (Volvo, Opel Daewoo etc). There is no justification to give them a bail out whatsoever. Let them go into chapter 11 and break them up with new management.

100 years into the future!…Today Toybota-gobble addressed world leaders into the problem they face not being able to meet stock-holders divedends!CE0 asked our leaders to look to the past and round up all retiree,s and their dependants for elimination to solve this problem!…it has worked in the past and will work to our advantage today!The vote that ensued was carried by the majority and afterwards the CEO was granted a 1 billion credit to relive his worry and restore his inner peace!

this situation really sucks because the big 3 have been warned and asked over & over again that this was coming. quit blaming the unions people! what is wrong with American workers getting the absolute best wages they can. Especially with so many American Corp turning out to be corrupt,greedy and sending our jobs overseas?
Remove the entire management tiers from all 3. Bring in brand new people outside the industry who will retool and bring the needed changes that the arrogant current executive teams decided to ignore.

I can see the problems that would happen if no help is given. If they would make cars that people wanted to buy then they would have a better chance of making it. Make one big company out of the three. One goal to survive look at the cars that are selling learn what people want.Who got the profits when the company was doing good, the taxpayers?

This is how the system is supposed to work. The three largest companies in an industry make lots of bad decisions, lose market share, and end up failing. All of their employees need to go find work. There are lots of other players in the same industry, and those companies will need to expand so they will hire some of those laid off employees. Others of those employees may go to work elsewhere or retire, but the companies that are strong enough to survive will and they will end up strenghthened. The industry will, in the long run, be much stronger and it will be better off for everyone.

Yes, it hurts in the short term, but lack of long term planning caused this problem. I felt the same way about the finance industry, I will feel the same way about the retail industry when they start asking for handouts in a month, and whomever it is next year that wants free money to cover up their poor decisions deserves the same treatment.

Detroit has been building junk for years. I say let them go bust. For years other manufactures are improving mileage, the quality of their cars and what Detroit did??? They reintroduced Camaro, Challenger and other pile of metal gas guzzlers piece of garbage. Let’s be honest, no one needs a Suburban, Excursion. Do you have a big family?? Get yourself a minivan!! When gas was cheap, you could build a piece of trash, put a V8 under the hood and that was that. It was called a car. Well, times changed. I don’t want to see my money used to make-up for the incompetence of Detroit. Please note that I keep saying Detroit and not American Manufactures. Why?? Because overseas they make great products, I could list at least 20 very good cars built by GM and Ford, in Europe and South America that compete neck to neck with the Japanese brands. Why they save the garbage for us? I did not mention Chrysler because they are hopeless. I know if Detroit goes down there will be a lot o people unemployed but America will still have to drive. We will buy from others manufactures that will have to increase production and consequently will have to hire more people. We have to start somewhere, someday. Oil will end one day, global warming is a reality, Party is over people, let’s get real.
Ps. don’t bother to make comments on grammar, sentence structure, and spelling. Don’t care about that. English is not my 1st language (its the 4th.) Besides, I’m on my lunch break, no time to revise.

let them go down

Poor piss management! Some may agree. We need to stop allowing companies to go under and have the big wigs make a fortune all at the same time. Strange just like the oil & gas & diesel. Oil & gas are directley related thus if the price of oil rise so should gas at the same rate, yet the goverment questioned no one or did nothing. Diesel is a byproduct of oil yet it is more expenssive than gas. What sense does that make? Why baby a grown-up? You train a child and let them go. If you are equipped to be sufficient than that is what you will be. America’s dollar is pretty much worthless. Allow more foriegn money to come in and stabalize our economy and get rid of poor leaders like BUSH! Cut spending , increase revenue, stop allowing unqualified individuals run things. One rotting apple can spoil the whole bunch thanks BUSH!!! ECONOMICS 101

It’s not the Union wages that have brought down the Big 3, it’s the years of mismanagement.The Big 3 have put out too many vehicles that the public doesn’t want.Cut back your brands and only put out strong fuel efficient vehicles that the public actually want.The CEO’s, not only in the Big 3, have raped the companies for years and it has finally caught up with them.We have to bail out the industry for now to get the markets stabalized.Once the turmoil has calmed down, whom ever it should be will have to go in and see if the company is making the progress that it should be, if not, then look at replacing management or shut it down. The auto industry realizes now that they have to make drastic changes in order to survive.So, please dont blame the Union work force for this mess.I’m a Union worker myself and we are hard working American citizens just like everybody else.

I agree with the anonymous writer from Michigan (refer to remarks below), who said, “The Bailout of the U.S. Automobile industry would just take us one step closer to the government-run socialist economy that we are on pace to become. The U.S. automobile industry has been dealing with these same issues since the 1980’s. They must not declare bankruptcy, bring in some new management, and work out their high cost structure, pension liabilities, and health care issues.”

Plus Detroit decided in the late-90’s to ignore alternative-fueled cars, and GM in particular involved the California Air Resources Board and the Federal government to “kill the electric car”, to put off 12+ years to mature electric car technology so we could cut our dependence on oil. So, would it not be poetic justice that the guys “Who Killed the Electric Car” got killed themselves, by the sheer action of the markets. The American consumer has spoken and voted with their dollars. Why should Mr. Obama over-ride that popular vote?

How much do you really think the assembly line auto worker makes??? It’s truly not that excessive…

Maybe a loan with conditions, but absolutely no bail out!

No more bailouts! None! It’s simple… The U.S. car industry has been producing inferior products for decades. Really, “patriotism” doesn’t help you get to work when you car is in the garage, or dies on the way there. You know, it’s not a secret… The “American car” is joke outside the U.S.

Sure, we are in a huge global recession… BUT it would have hurt less for Detroit (and other companies) had a more worthwhile product been produced. Detroit has been producing too many car models and none can keep up with even with a basic Honda and Toyota. How about they put some effort in to producing ONE good product instead of moving junk with 0% financing to fatten VIP bonuses?! It will only work so long… Well, the “long” is here now… It’s over!

They only thing a bailout will accomplish is to save VIP bonuses.

The world economy needs a complete reset… Rip out the cord and shove it back in again.

Where’s personal and corporate responsibility now? You put things down on personal to-do lists and business mission statements and it didn’t pan out. So? Man up! Why should everyone pay for your mistakes and greed?

It’s simple! You messed up! Try again… Make it better.

This whole global mess can be slated down to one thing – EXCESS! Starting with ridiculous bonuses and golden parachutes for (buddy) CEOs and board members that could have been replaced in a blink-of-an-eye for innovative people… That’s where the cancer started and spread from – the boardrooms.

CUT OUT THE CANCER FIRST. Cancel ALL bonuses and ‘chutes… Go back and collect from VIPs that helped drive companies in to the ground to fatten their own bank accounts.

It’s ridiculous!

I agree with Brian. I worked for Walmart 20 years ago and they only sold American made stuff. But not now. It’s a shame. Sam would be highly upset with his company. Wake up America.

If we bail GM out (only because of the fall out if we don’t)they need to get rid of the union and retireea benefits, quit spending so much on adv, cut benefits like holidays, health care to be compensated by workers, etc. If we bail them out w/o these restrictions, we’re only putting off the inevitable because the core problem has to be fixed if they are to survive.No more unions. Fire the lot and start over if necessary.

I have read alot of these remarks regarding the UAW. It’s a shame that people can blame the UAW on something that free trade and ameriacans that would rather invest in other countries rather than ours. By not buying american made products you are putting americans out of work. Lets face we are letting the Walmarts of this country ruin it. Sam Walton had the right idea of putting american made products in his store. He died so did his legacy. So wake America start checking the labels.

No amount of $$ can help a restaurant which cooks bad foods

no bail out. a bail out only prolongs the inevitable, and costs lots of money we don’t have. declare bankruptcy: bust the unions, pay people a resonable wage, trim the fat. none of that will happen without bankruptcy.

The US Government should lend money to GM, Ford, and Chrysler. The loan to be a a reasonable percentage. All employees take a 10% pay cut and no bonuses paid until the loan is repaid to US.

If the bankruptcy of the Big 3 means the extinction of the obsolete and worthless UAW Union, with their $70+ per hour labor and benefits, so be it.

People can say what they like but GM, Ford and Chrysler are part of the infrastructor to this nations manufacturing. Sure they make cars but they also amke military machinery. If we let them fall will we have China build our equipment.

Another piece of the pie are the Unions but they have also been the guage to raise the standard of living for all workers. I agree they have been a double edge sword but is it right these CEO should rape these companies.

Last for every auto worker there are 10 other workers indirectly tied. So let these companies go and we have a major problem.

I think what we need to understand is that perhaps we do have a lot of service jobs but altimately they depend on some manufacturing job. If we lose one is it unreasonable to forsee service jobs following shortly.

Who really wants to bail out a company that put itself in this position? The question here is more about a company so large that going out of business could have ripple effects across the US. Think of all the suppliers that would have harder times if their main customer went kaput and failed to repay debts (a la circuit city). Then think of all the dealerships and those friendly service and maintenance people that would lose their jobs. Lastly, the customers are faced with having cars that values would sharply decline. To me we would be better off in the long run if we help GM now, rather than seeing more hardworking Americans facing mortgages they can’t pay.

We should offer Detroit a package providing they can get their costs per vehicle inline with global averages prior to receiving the money. This will require the unions and management to work together to dramtically lower costs. Only then would an investment in the industry provide a sound long term return.

After 30 years of living in Michigan I have personally seen how Generous Motors and the unions caused this to happen; high pay, low productivity, expensive vehicles, diminishing quality.

The Big 3 DO NOT deserve a bail out due to their constant mismanagement. Yet they will get a bailout due to the number of jobs ASSOCIATED with the Big 3. If just one of the Big 3 goes under the ripple effect will damage the entire economy. The unemployment will jump (who wants to hire a auto union worker…), tax revenue decreases, etc.

Then what? Tire companies? Seat companies…? Stop this nonsense. These automakers have done CYA for politicians and now its politicians turn to do CYA for automakers.

Obama, read our lips… “Stop the Damn Bailouts” We are tired of our hard earned monies being lavished on AIG retreats!

This is a LOAN, not a Bail Out.
The same people that complain about all our US jobs going overseas are saying no to this. Our Goverment made a lot of this happen with the trade agreements. The UNIONS added to the problem by not understanding anything in the market. Want to see double diget unemployment, cost of living and interest rates? Let the auto industry fail and let the depression begin.

I wish these GM could survive without a bailout, but I feel they cannot. Letting this company fall into bankruptcy would not be a solution, it would only pass the strain onto the dozens of other companies that rely on GM. GM cannot fall or nearly every American manufacturer will fail. The system is too integrated and dependent on GM and now was must bail them out for the greater good.

Yes…the auto industry should be ‘bailed’ out…. or bought out (saving the infrastructure less management).

The auto industry represents the perfect intersection of
several industries, the environment, the economy (jobs) and national security (dependence on foreign oil)…

Any ‘bailout’ should attached very strict mandates or strings insuring a revolutionary overhaul of the entire industry. The mandates should address directly: the need for automobiles to run on alternative fuels – hydrogen, electric, solar, etc.) along with job creation (research and development, assembly, etc.). Some might argue this would be socializing the auto industry…so be it.

It presents a unique opportunity to save one bird(the eagle presumably) with one loan.

There needs to be import quotas and taxes put on all foreign goods. Japan only allows 2% of it auto sales to be imported. This keeps their money and manufactured goods in Japan. Americans don’t realize when they buy a foreign car that thousand of their dollars are going to the country that builds the car. Almost all foreign cars are not built in America. They are only assembled here from parts made overseas and shipped here. All foreign cars and anything coming into this country should have a 20% to 25% tax put on them. Anyone getting paid by the taxpayer, politician, postal worker, teachers etc should be required to buy American cars. I am tired of my tax dollars going over seas because Americans are not proud of their own products. If you are American then you should support your own country. War is coming and you are shutting down your own industrial base while supporting a foreign base that is building a war machine that may be used against you. How long do you think it will take to restart these factories back up and retrain the people?? I am proud of my country and I do support it.. I only buy cars made in the USA and Canada which has been our manufacturing partner for years.

Ronald Fields
156 Luster Road
Limestone TN 37681
423-257-4093

They ought to fire all the top managers at GM and Ford, and also make the UAW take deep wage & benefit cuts. Then maybe we can talk about a bailout.

Here’s a couple reasons why the goverment shouldn’t bailout the auto industry.

One GM,Ford,and Chrysler was doing bad before this recession. Their numbers had been declining over the last 10 years. Honda, Toyota, and Nissan have taken over the automobile industry. A matter of fact they’re providing more jobs for Americans than the Big 3. Where as the Big 3 have most of their factory jobs heading to Mexico and other foreign countries and have been closing down and laying off workers in the U.S. The point is the Big 3 in Japan are not asking Japan for a bailout because they made the right decisions with their money when times were good and all were being profitable when times were good. Helping the Detroit 3 is just delaying the inevitable. They’re going to fold sooner or later because of bad management and poor ownership.

Next all GM, Ford, and Chrysler are going to do when they get that money is sit on it. Like the banks did. Pay dividends to stockholders and maybe try to buy out other car manufacturers. They are not going to start lending money to sub-prime customers just like the banks didn’t start lending money to them. Right now GM is not even financing someone under a 700 beacon score. To add to that the corporate executives will do like the corporate execs for the banks did which is pocket some of the bailout money.

And last I think the goverment would face some serious litigation charges. By bailing out the Big 3 in Detroit auto industry and not helping other businesses. How can they say that the auto industry means more to the economy than any other businesses or even states that need help. Fact is you can’t save everyone. The goverment is just opening pandora’s box. Now you’re creating an atmosphere for everyone to start asking for help.

Fact is you can’t save everyone.The goverment just need to let this thing in the economy ride itself out. Its just a correction in the market. The businesses in this country got to fat and greedy and now its just time to pay up. If OBama and Bush keep dishing out money somebody is going to have to pay for all this money being thrown around. And that burden is going to fall on the taxpayers which in my mind I think is just going to make consumer spending even tighter.

So i say let things hit rock bottom. You can only go up from there. Bailing out bad businesses like Ford,GM, and Chrysler is only going to delay their fall. Allow smart businesses like Honda, Toyota,Nissan and many others continue to grow and take their place. They have proven to have ran much better company to weather this storm without the aid of goverment help. If you continue to help bailout bad businesses it will only delay the inevitable. Which is they’re going to fall anyways.

Don’t forget your American history. Without the autos, we might be speaking German or Japanese!! As well, if even one of the big three failed, this country might loose up to 3 million jobs within one year. Lets not forget the retiree obligations that the tax payers would be saddled with. As far as quality goes, Ford Motor is in a statistical dead heat with Toyota with resect to quality. Now lets talk about a level cometetive playing field. Currency manipulation, excessive tarifs; they did what they needed to compete. As far as lazy U.A.W. workers, I’ll bet that very few of the negative posters out there have had the benefit of worrking in a 120 degree factory for ten hours a day, and having to wait for a relief man to be abel to take a leak. Now lets talk about labor law. The union movement is single handedly responsible for the passage of legislation that protects even non-union members rights. So before you rant and rave about a possible package to salvage our manufacturing base; educate yourself. Had some of you been a little more patriotic and supported the industry that helped to provide for the freedoms we all enjoy by buying the products this country builds, we might not be in the economic condition we are in now. God save the autos, God save this country.

!!!STOP OUTSOURCING ALL THE JOBS TO INDIA !!!

OTHERWISE ALL THE HOMES IN THE USA WILL BE SOLD FOR A $1 ON E-BAY. TRUST ME.

Nice to see that there are some people thinking about the economy in general, not just what a CEO deserves.

Yes, the heads of the US Big 3 have made mistakes in the past. Chrysler has already paid dearly and had to get a private bail-out, so to speak. But they are already starting to turn the corner. (They are estimated to have not lost money in the 3rd quarter, unlike Ford and GM.)

And doing nothing means millions of jobs lost, plus huge budget deficits for hundreds of county, city, and state agencies as a result of loss of tax revenue. Then factor in having hundreds of thousands of foreclosures (many concentrated in a few areas), and the whole US economy enters a depression.

John in Las Vegas may have it right – the Government uses “bail-out” money to run what essentially is a Chapter 11 bankruptcy. But everyone in the company has to take a hit as a result, from the CEO’s office to the UAW line worker.

And while we are at it, let Ford and GM start selling European cars in the US. Right now the crash standards don’t let that happen. But if the government loosens the restrictions, we can start to see new high-mileage vehicles on dealer lots by late 2009 or early 2010. (Admittedly the idea is not mine, but GM’s!) And Chrysler may finally be able to get a partnership with Renault/Nissan then to get the Renault line imported through their dealerships.

No, it isn’t pleasant to have to bail out an entire industry. But the alternative is worse.

I currently work in the auto industry and I can’t beleive some of the comments I have read. I agree a bailout isn’t the best solution. Point the finger where you may, but our government has mixed this potion for failure for 30 years. The problem is no one is spending money, put money into the pockets of consumers and they will spend. The Key To a Thriving economy.

The real problem is that wages didn’t go up in the last 10 years but spending did. Ruthless, idiodic spending went rampant!

How did this happen you ask? A gold mine was created via home equity. Now the gold mine is gone while wages and jobs are effectively shrinking, yet the cost of living remains high.

The problem is that people spent more than they could afford. Everyone. Now we have a new problem; the people getting bailed out is being funded by the broke people of our nation. Even if people get bailed out it doesn’t fix the root problem: the median income in our communities can not afford a median cost of living. Even if you ’save’ the banks and auto industry, they will again fail because there is no more home equity to supplement wages to buy more cars and houses and stuff.

If GM can’t possibly survive bankruptcy restructuring then they certainly can’t survive without restructuring their costs. The unions have left the big 3 in a completely uncompetitive situation. The reason why they have to resort to buyouts is that if the fire an employee, once unemployment runs out they have to pay that employee until they can find work for them because of the job bank system set up in the auto union contracts.

As ridiculous as some of the large CEO payouts and wall street bonuses may seem, at least those guys have to do something to get paid.

GM needs help because the auto industry is vital to the US economy in more ways than I believe the average citizen is thinking—mechanics, parts suppliers, tires, computers, office staff, sales staff,real estate rentals, to name a few. If they are not helped the unemployment would be gigantic. And the foreign auto makers would have a monopoly on the car market but they would have problems providing for the demand. HOWEVER, the stipulation needs to be that the big 3 change their business model, make cuts at EVERY LEVEL of the companies including the EXECUTIVES and get the companies profitable so they can pay the government back. Right now it is more important to get our economy going and stable than to say “you made your bed now lie in it” even tho that may be true.

To Ryan:

“Toyota, Nissan, Honda, BMW, Mercedes and Porsche have all added at least one SUV or a truck to grab that market. I say lets save Big 3!”

The other manufacturers added one SUV to broaden their offerings. They did not stake the entire business on SUVs and trucks. Apparently the big three have forgotten the benefits of diversification. Time to let the weakest fail. Maybe unions will see the writing on the wall and give the remaining two a break. Maybe Michigan will modify labor laws to be more producer friendly like neighboring states.

Automobiles are important. However there many reasons non-US companies have little unionization and do not open plants in Michigan. If the US auto makers can not be competitive, then we are throwing good tax-payer money after bad investor money.

BTW, my Saturn was made in Tennessee. Very reliable, thank you GM. Maybe some of us lazy American consumers should look for the real value that is available from US based auto makers.

If we bail out the auto industry. The union should bail out too…forever.
and the auto workers should take a 50% reduction in pay so the wealth can be spread around so those of us making half or less than their pay can get equal treatment. While they are at it congress should also be patriotic and cut some of their pay and benefits.

UAW hourly workers and retired UAW hourly union members have muuuch better company benefits than college graduates. It’s time to level the playing field. Wages and benefits should be rewarded to hard working people not just because they are signed up with a union who carrys a big stick.

Obama, don’t mess up the trust the people showed in you. Selling them down the drain to repay those campain contributions will make you very unpopular among billions of voters. No to anymore bailouts and make the ones you have already donated to accountable for their actions. In some countries a thief loses a hand. Perhaps if some examples are made others will be weary to follow in thier paths.

I say reboot the car companies. Their business plan would fail freshman business school, their costs are unsustainable, and noboby wants their products.

We cannot support a failing business model by propping it up with a bailout. It is commonly said that the auto industry is “too big to allow it to fail” because of the impact to American workers and the American economy. This is based on the assumption that things will go back to “normal” if we just ride out the economic storm. Friends, things will NEVER go back to the unbridled consumerism of the last twenty years, and auto makers cannot move forward cranking out cars at this level of cost and production. Save our economy for the future, not the past.

The Bailout of the U.S. Automobile industry would just take us one step closer to the government-run socialist economy that we are on pace to become.

The U.S. automobile industry has been dealing with these same issues since the 1980’s. They must not declare bankruptcy, bring in some new management, and work out their high cost structure, pension liabilities, and health care issues.

Clearly, they must keep their costs inline with their global competitors. Offering them low interest rate (taxpayer based) loans will only be throwing good money after bad.

No we don’t need to bail-out GM. What should be done is giving consumers a 25 to 30,000 dollars gift card or some some item, to allow them to purchase a vehicle of their choice. This would stimulate the economy, GM. and take some of the worry from consumers regarding auto payments.

To Ryan who wrote:

Quoted “The top selling “vehicles” for the last 10 -15 years have been SUV’s and full size trucks, not cars. Why? Because that is what the consumers wanted!!! Toyota, Nissan, Honda, BMW, Mercedes and Porsche have all added at least one SUV or a truck to grab that market. I say lets save Big 3!” Unquoted

Every family alwyas have umbrellas kept somewhere for rainy days. Yes Toyota, Nissan, Honda, BMW, Mercedes dis add SUV in their list to give the customers wanted. But they keep their fuel efficient cars for “rainy days”.

If you only follow what customers wanted, you are not a leader; you are only a “follower”. A leader should have vision that “oil” resource is getting scarce quickly.

Let them bankrupt and re-organize to learn the lesson as most normal people learn their mistakes and adjust.

True Americans should support our country and our workers. The Japaneese have us snookerd. Their quality is no longer any better than the best out of Ford and GM. When we buy a product from a company in Japan our dollars go to keep their country strong. The europeans buy from their own companies and so should we. Wake up America.

GM has not made a profit since 2004. Why of earth would we bail them out?

They should have ditched the union pensions like the Airline did prior to laws being changed. UAL is the real problem with the industry

Good god! This is not about saving a mismanaged company, this is about saving our economy! People, wake up and smell the collapse. I cannot believe what I am hearing. “Let them all go bankrupt and teach them a lesson”. How about teaching yourself a lesson on simple economics.

If the Big 3 go down, mismanged or not, you are talking about anywhere from 5 to 10 million people out of work. That is an estimate as the totals are probably higher. Then, you let the banks and finance markets go down, millions more jobs lost. Then because millions upon millions of Americans are out of work, nobody buy and the retailers start dropping one by one.

All this basically leads to a very unstable America and weak America. You can be angry all you want later, but right now we need to stabalize this situation. If that means bailout, it means bailout.

So before you start posting about not bailing out any companies, think of the ramifications of that statement before you make it. Think of the chain recation of horror that would cause across the country and the globe. Think about children living in the streets hungry because their parents cannot find work. Think about the neighborhoods that would eventually rot away into nothing because half the street was forclosed on and nobody could get approved for mortgages to buy houses and finally, think about where you would be and how this would effect you and your family.

Anyone that thinks we shouldn’t bailout is ignorant.

The automakers should get a bailout ONLY IF the unions agree to give back to the companies as well. Why should we the taxpayers be saddled with this debt without givebacks from both the automakers and unions. No more bailouts!

NO bail out for automakers that won’t make a fuel efficient vehicle for the average American. GM’s high dollar Volt is an example of GM not getting the message. NO money until they have leadership that will build what the consumer needs.

To those who think its not the big 3’s fault I say this: When gas went up to $4/gallon how come Japanese car companies had vehicles rolling off the assembly line with better mileage and we have to wait until 2010 for the Chevy Volt? Its called lack of foresight and complancency. They did not put enough money into developing fuel efficient cars.

The American automakes have proven over the past 25 years that they cannot compete with International car companies. They continue to lose market share and money each year. A loan to these companies is a clear example of “throwing good money after bad”. American car companies need to reinvent their business model as a niche manufacturer- i.e. select trucks, nostaglia vehicles such as Mustang and Challenger, plus some of the successgul models such as the Malibu. How did the S. Korea companies go from last to the top so quickly and American companies can’t get out of their own way?

Trapped by Union contracts and government regulations! The socialists will destroy America…..this is what you voted for in electing Obama, look in the mirror to see who is the problem…..socialists want us all equally shabby and poor…..that’s their measure of equality…..like what Stalin, Marx, and Mao achieved. We have lost our ability to think! Wake up America!

We do not need to bail-out GM. What needs to be done is to give consumers a 30 to 35,000 dollar certificate to purchase a GM vehicle. This would stimulate the economy, help put GM. back in the Black, and give consumers a bit more confidence in the economy. People aren’t buying vehicles because they aren’t sure if they would be able to make the payments.

NO way No how.
As soon as they close down the bloated car factoryan efficent profitable company will take it’s place. What kind og company makes it paying people that much money to turn a wrench. Then they pay medical insuarnace and retirement forever. What other business has the benefits that the UAW has….. I know, the one that aren’t going bankrupt. I’m not going to pay 1 cent to in taxes to bail them out when my retirement is a 401K with no match and a Roth. I’ll move to Canada first. Let the UAW bail them out!

Wht should we bail out a failing corperation? No one is trying to assist the failing small business’s on our mani streets across America. How long ago was it that the feds bailed out chrysler? Now they are in trouble again. Maybe US auto makers should look over seas for help.China would probably love to own them. Maybe then we would see some rickshaw SUVs

It sounds like sour grapes with a lot of the comments. No industry in the US has fought harder or survied longer against an onslaught unfair foreign competition than the Domestic auto industries. Should they lower the wages of all the workers (both UAW and Non UAW workers) to the wages in China? In this country we have a minimum wage well above the $1 an hour in China. Are we as a country prepared to close hospitals, parks and schools etc, when the health insurance and tax base is gone for many communities? Are we as a country prepared to have no manufacturing base in the event of a large scale conflict. Should the auto companies and employees suffer because Clinton encouraged loans to people who could not afford them, even when he was encouaging their jobs to be sent out of the country.

A few facts.

The consequences, however, of a portion of the domestic auto industry collapsing extend far beyond GM’s ability to continue its transformation. One in 10 American jobs depend on our industry, as well as the health of communities, dealers and suppliers in all 50 states. As you know, nearly 3 million employees, retirees, and their families also depend on us for their pensions and health care. Because of our economic contribution, the cost of allowing this industry to fail would be catastrophic: 3 million jobs lost within the first year; U.S. personal income reduced by $150.7 billion; a government tax loss over three years of more than $156 billion. This level of economic devastation far exceeds the $25 billion of government support that our industry needs to bridge this current period.

I say allow them to fire all of their union workers, then they will be plenty profitable. Paying 60,000 people’s retirement @ full salary for their entire life is ridiculous.

Would you stop the rolling stone that will cause the avalanche in order to give yourself time to get off the mountain. I’m thinking yes. There is a huge lag in auto demands vs manufacturing. Yes, maybe Detroit should have seen it coming, but in just the last few years, trucks and SUV’s have been flying out of the showrooms. Detroit makes good vehicles. They will again if given an opportunity. There should be stipulations attached to any bailout. They should be relieved of their retired worker burdens. The company was held over the fire to force agreements they knew they couldn’t maintain going forward just in order to keep doing business at the time. That was the consistent strategy used by the UAW to force these agreements. You agree or you stop business. This was impractical on the part of the unions who are now decimated in numbers. The average wage in Michigan is nearly double due to a circle you can draw around Detroit and the surrounding neighborhoods. Unfortunately, auto parts suppliers, who do pay a fair wage to non-union employees, are being put out of business already. The big three should be fire every employee and re-hire based on actual market rates regarding skilled and unskilled labor, but we can’t let one of America’s greatest industries go completely overseas to Japan or Korea or especially China. With it will go steel, plastics, machine tooling, service jobs. Because, if we don’t have domestic cars, then who will care whether they are built or assembled here. The UAW has taken Detroit to the brink of the other side of the equation. When formed, it was there to ensure fair working conditions and fair wages. It is now obviously (and has been for some time) unfair to the corporations. They need to work to find a middle ground for the good of both parties. This is very simple economics.

I THINK IT IS A BIG JOKE. i make $13.00 an hour and have to bail out people making $40.00 AN HOUR/ TO A COMPANY THAT MAKES A PRODUCT MOST AMERICANS CANT AFFORD ANYWAY

The Big Three figure prominently in making America an industrial powerhouse. Now they need our help. They are asking for a loan, not a bailout. Those who are crying “no” are reacting from their guts, and not their heads. The Treasury should set the conditions, keep them objective, and loan the money. Do not gauge the public on this issue. Do what is best for America, not what will keep partisan Americans happy.

This is not a war on unions. This is a war against the loss of millions of jobs. Think America! Think!

My name is Eric and I have been employed in the retail automotive business for over 18yrs. Through the past 60 days we have heard nothing but the imminent demise of our industry. I believe there is a relatively easy solution to this problem. The Auto industry is based on the ability to retail vehicles, if you can not sell cars companies can not build them, workers can not assemble them and banks can not finance them. With this truth in mind I believe if we attempt to spurn the retail end of the business it will jump start the industry. ( more vehicles sold will increase demand which increase orders to the factories and suppliers increase business to the banks via auto loans etc etc ) Just as eating a diet high in fiber will reduce your risk of heart attack, eating a bowl of Cheerios during a heart attack will not stop it, as will giving Auto manufactures money for future development will not help our current crisis. The idea is rather simple… incentivize consumers to purchase US manufactured vehicles now. Here is how I think we could tackle this daunting task:

Vates Plan

Issue a tax rebate up to half of a consumer’s sales tax on their federal return.

Every new car sold in the US generates huge amounts of sales tax for local municipalities and states. What ever total tax amount that a consumer has paid allow him/her to deduct up to half of that amount off their Federal Income tax ( Tax credit ) . Sales taxes on autos use to be tax deductable. Also bear in mind the millions of dollars in local sales tax that would be collected during this drive to help offset local municipal budgets.

Offer rebates over and above current incentives backed by the Government bailout for Domestic produced automobiles.

Almost all manufactures have some form of rebates to lure consumers into showrooms to purchase their products. On top of those rebates offer a one time $1500 to $2000 rebate that will be taken out of the bailout money that is set aside for the automotive industry. If we have $25 Billon set up in loans for Ford Gm Chrysler etc, lets use that as incentives for customers to purchase products instead of research and development on projects that will not be on the road for years if ever. The rebate will help consumers purchase cars at reduced prices ( like the coupons for digital converter boxes ) and will be repaid to the Government from the manufactures as part of their bailout money therefore not affecting their cash flow and allowing public perception to be positive ( we are helping you the consumer not the large auto manufacturer get out from bad practices ) Also only domestically produced vehicles qualify. If the are built in the US by American workers then they qualify. This bill is to keep American workers working not those in other countries, so vehicles produced in Mexico, Canada, Germany, Korea, Japan etc are excluded Even if they are badged with a domestic brand.

Have a Government insured loan program for Automobile loans.

Since the US government has backed up a large portion of our banks, we should force them to lend to credit worthy consumers for auto loans. In the same vain of thought as FHA , HUD or VA loans the government could use some of the $700 Billon dollars set aside for banks to lend to consumers who right now want or need a car loan. The loans could be backed by an insurance policy ( like PMI ) that would deflect the risk of bad loans or future losses ( AIG another government subsidiary could under write ) . With the full force of the government backing auto loans would once again become easier to get and help business prosper again. This part of the plan would also be a large source of income for other parts of the economy. Banks would receive new loans ( secured by the government funding once again not hurting their cash flow ) insurance companies ( AIG ) would underwrite policies for the security of the loans and new jobs in oversight would be created.

The plan is simply and really elementary if you sit back and think about it. If consumers feel good about a deal they will buy. Give them a reason to feel good and they will come. When retail in the auto industry picks back up then so will the other 10 jobs for every one person in our industry. The beauty of the plan is that it calls for no new funds just allocating the funds already set aside to good use.

NO MORE BAILOUTS!!!!
They are making $80 an hour if they want to keep their jobs let them work for 1/2 the money
I don’t make that much (only $11 an hour) and at the end of this month I’m going to be laidoff
Where is My BAILOUT????

No bailout. A Model A Ford got 26 miles per gallon 80 years ago. In 2007 the average mpg for a car was 27. The auto industry had a chance to build fuel-efficient cars in the 70’s during the oil embargo. The electric cars they built and tested a decade ago were successful, but the industry then destroyed them and built more gas guzzlers instead. We should not pay for mistakes of short-sighted industries anymore. This is not an industry that is looking for the interests of its citizens or the planet.

They should only be given money if they use it to fix their core problem – which is their cost structure. They should actually give the money to the UAW “leaders” and ask them how much will it take for you to go away and permanently. The car companys would then be allowed to re-structure and reduce their labor costs. If the government just hands them over another 25 billion dollars to use as they please, it will only delay the inevitable failure and the tax payers will be on the hook for another 25 Billion that got thrown down a hole. The govenment needs to stay the heck out of the automobile business. Their answer to everything is to throw money at it without understanding anything about fixing the core problems. Look at how much they’ve thrown at education and look where it is. Look what happens when the government got into the housing business. And now we’re expecting them to run health care? Pleeaaazzzze – give me a break! How much more evidence do we need? This country is in a lot of trouble right now – I suggest we get some real experts to deal with it too and quick. I sure hope our country’s survival hinges on the decisions of Pelosi and Barney. If so, its over…

Very complicated issue. If they don’t get some help, too many jobs will be lost due to “trickle down.” But the UAW is going to have to get realistic. No company should be required to pay people if they’re not working or producing something. GM also needs to cut another brand or two; for example Hummer and Buick or Pontiac but that’ll take some cooperation from dealers.
The new administration is pro-union but I hope they support labor organization that doesn’t jeopardize the financial health and competitiveness of businesses. The UAW should take some blame for the demise of the US auto industry.

Don’t bail them out!!

I’d rather help my community by giving them my tax dollars so that they can create a new class for kindergartens. The class would be called “LIVE WITHIN YOUR MEANS.” Obviously you all missed that lesson!

Instead of giving money directly to the auto makers, why not create a program to provide up to $10,000 for the purchase of a new American made automobile with additional criteria put in place for fuel economy and income. Not only would this drive demand for new more fuel effecient cars creating new jobs it would also help people with financing by providing a larger down payment and lowering the banks risk.

The Big Three should not be bailed out. We already have spent enough money that we never had on bail outs. I am only 19 and going to school to be an auto mechanic, but I realize that they should be left alone. GM got themselves into this mess. Plus, Toyota and Honda will pick up the lack of big trucks that are needed by consumers. They do not make them now because there is not enough demand. When there is, Toyota and Honda will build bigger trucks. I will feel sorry for the people who will be efffected by them going out of bussiness, but understand that this is capitalism. Companies fail, others find success.

I drive a 1995 Honda Accord, with 241,000 miles on the stock automatic transmission. Anyone who says that Honda makes bad cars is wrong. They are great cars.

Yes, we should bail them out. What’s the difference between greedy overpaid execs on Wall Street and greedy overpaid execs at the Big Three? Say Thanks to the labor unions for the ridiculously expensive benefits. The Big Three pay out more money in benefits than they pay to produce the cars. And for you foreign car buyers, you certainly helped out the demise. The Big three have been buidling quality cars since the early 90’s. Your PERCEPTION of “superior foreign” and “inferior domestic” never changed.

No, we should not give Detroit any money. For the last 20 yrs. all I have bought are Japanese cars. They are dependable,great on gas, etc. The US citizens kept waiting for new technology to come about in Detroit, but it never did. Let them fail. If this was a private business that failed, no one would bail them out. The employees can go and train for new careers. The buck has to stop somewhere!

No way should we bail out the Big Three. The signs of a faltering economy were there years ago, but instead of studying & perhaps adopting a design & sales approach such as Honda’s or Toyota’s, making high-quality, reliable, fuel-efficient cars, the Big Three continued to make huge, inefficient, unreliable gas guzzlers for domestic sale. For example, Ford makes a high-efficiency model that gets something like 55 mpg or more, but they only sell it in Europe (and maybe elsewhere). They won’t sell it in the US because they don’t think Americans will go for it. It’s just this kind of bass ackwards thinking that has led to the collapse of the Big Three. They never figured out that building a big gas-gulping piece of crap that no one can afford to keep running is NOT a good investment. Evidently Honda and Toyota aren’t successful enough companies for the Big Three to emulate…..

No Bailout!!!!

Here’s what the government should do instead of handing over $25B to GM’s management:

1) Take over all assets of GM (including it’s 49% stake in GMAC), now.

2) Sell what it can to cover the $56B unfunded pension & health care guarantees to the employees. Any shortfall in those guarantees has to be made up by the taxpayers (I know…. it sucks!).

3) Extend unemployment benefits for MI and OH for at least an extra six months.

4) Create jobs to rebuild infrastructure in those areas.

All these proposals will actually help the workers of GM, instead of going to the greedy, shortsighted management.

NO, THE MONEY WILL BE JUST GOING DOWN THE DRAIN. THYE HAVE SEEN THE SIGNS AND DID NOTHING ABOUT IT AND KNOW WANT TAX PAYERS TO BAIL THEM OUT! THEY NEED NEW LEADERSHIP AND STOP PAYING THEIR WORKERS SO MUCN AND SUCH WONDERFUL BENEFITS THAT NO ON ELSE IN THE US GETS.

No they shouldn’t get a bailout. For years, the big three resisted change. They always maintained that they couldn’t build automobiles that are fuel efficient while Toyota and Honda were investing in research on how to do just that. Let them file for bankruptcy. I’m sure Toyota would buy up a plant in Michigan.

For some that think that the Detroit 3 have been asleep for these several years needs to open their eyes. They were aware of something like this happening in the future but never anticipated the market going south due to high energy prices, then the continuing mortgage meltdown, and then finally the credit market collapse put a dent into their recovery plans. Oh, and to say Detroit is alone in their business decisions to make only trucks and SUV’s, what about Toyota, Honda,and Nissan? They all made gas guzzlers as well, yet many people overlook and say they better than what Detroit makes. WRONG.
GM’s recovery plan was in full swing, Ford was and still is building better cars and trucks, and Chrysler is getting back to where they were before Daimler-Benz’s mismanagement when the markets collapsed due to mismanagement and people think they need to go away? Okay, but be prepared to pay for higher taxes, higher food costs, tight job markets due to many more seeking new jobs than before, sky-high inflation, and finally more expensive automobiles due to lack of choice and factory output reduced due to fewer suppliers building parts for the factories to build cars and trucks.
So which is better, a $50B loan with strings attached that will eventually be repaid at 5% interest or $200B to $300B lost in tax revenue, high unemployment, and lack of choices from a Detroit 3 completely and total collapse?

If you are going to bail out every one but the Auto companies, this government has a pretty flawed policy, no kidding!! At least the auto companies manufacture products, warts and all and do not create debt instruments that rip off consumers. The unions have created the problem. We should bail them out, however the unions and all the legacy give aways have to be controlled via the terms of the bail out. Also, force them to build products that comply with all gasoline standards for efficiency. The auto companies and all the industries that supply them are too important to not help.

NO BAIL OUT! No to proping up stock prices. No to insuring excessive CEO severance packages. No to underwriting lavish union benefits. If the American automakers are going to keep making the same junk…let them fall.

My wife and I have been looking for a new car to replace her 1998 Jeep, but can’t find one that does not have that stupid cheap a$$ed front wheel drive in it that has screwed over many a consumer already. (Over 20 years and they still can’t make a decent CV joint!) I’ll have the 98 overhauled for $15K before I buy one of those new junkers for $30K.

If this is the best the “Big Three” can come up with…pffft on you.

The Japanese kept the yen artifically low by keeping the interest rates next to zero for decades allowing them to flood our markets with cars & electronics that were cheaper to the US consumer than US made. We need to fight to keep manufacturing in the US.
The US auto companies make good products but when we get whip sawed by energy prices soaring, then diving and credit markets frozen up they need help. It is good for the country as millions of jobs and retirees depend on the industry.

They don’t not deserve a bailout there cars are garbage. How can honda toyota nissan and others make betters cars with more quality , and last alot longer for a better price and the big 3 cannot its BS. They never took care of there customers only stock holders. Also get rid of the unions they are a joke. If they make new high quality models I would purchase an american made car.

The past bailout and possible future bailouts should be an investment in new jobs, new business, new overall system! Why arn’t any States and Local Govt’s getting any share of the “bailouts”? Should the auto industry not feel the pinch of capitalism at its best? The puzzle pieces have been thrown in the air, let them fall where they may and support the Entrepreneurs!

NO.NO.NO!!!
We did not put them into this mess so why should we bail them out. Force them to file for bankruptcy, reorg, and rid themselves of this mess just like any other for profit organization would have to do if THEY put THEMSELVES in this state. It should not be up to us to bail out any Billion dollar company just for the sake of keeping them afloat. I am held accountable for my actions as should they.
I am sick and tired of the federal government running to the aid of these entities because of the lobbying power they have. Dump the money into the public service sector; teachers and schools, police force, firefighters and such, not big business.

Didn’t we already bail these morons out in the late 70’s? At least Chrysler. Why did they start building UGLY gas guzzlers again? Oh, the republicans. I almost forgot they’ve been running our country into the ground with their “trickle down economics” nonsense. Remember that? Now all these rich a*holes are walking away with BILLIONS while the rest of us are suffering. The U.S. government should have stuck to strict gas mileage regulations, and stopped the SUV loophole. Hell no, no bailouts, and not golden parachutes. Only prison time with no television.

Alot of people are negative saying ” no there should be no bail out to help the automakers.” I don’t think the auto industry is run poorly. I just think that no one really seen this economy falling as much as it did. It really all started with the gas prices hitting $4.00 a galllon. That took an already crippled business to complete stop. Dealers that were selling 175 cars a month are no either selling 40-50 cars or out of business. If the government does not bail out the auto industry it will not just affect them it will affect you. It is the heart of this country. You will lose hundreds of thousands of jobs. It will no longer be thought of a recession but a reality of a depression. You must see the bigger picture of how much the AMERICAN auto industry affects all of us. Many people just don’t understand but vote for no bailout and when the big three are down and only the foreign made cars are in town. The same people that take jobs overseas. Many people need to a little research on issues before they blurt out stupid comments when they have no idea of the bigger picture that will lie before us. If we don’t take our own companies in our own country and aid them at their time of need than you will see a rougher road ahead that was lies behind.

TO Dave that wrote:

“The Big 3 auto makers have been operating under a seriously risky and flawed business model for ages. They are finally reaping what they sowed. Sorry to say it, but they need to lay in the beds they made.”

The top selling “vehicles” for the last 10 -15 years have been SUV’s and full size trucks, not cars. Why? Because that is what the consumers wanted!!! Toyota, Nissan, Honda, BMW, Mercedes and Porsche have all added at least one SUV or a truck to grab that market. I say lets save Big 3!

I had to close my business due to the economic times, and I am having to bail myself out. Where is the help for the small business owners, there isn’t ANY!! I had to tell 40 employees they were losing their jobs, because the cash flow was not enough to keep the business going. There was no bail out for us,our families or our employees.

The government has not handled the $700 billion dollar bailout correctly, why should the next bailout be done, it is costing all of us!!

The automakers need to tighten their expenses, and their CEO’s paychecks!

How about the government taking all 3 into convervatorship? Retrain the workers. Retool the factories. Produce a half dozen cleaning burning, low cost, high milage vehicles for the that meet our needs for 21st century?

No to GM. Make them file for bk and then step in as the lender of last resort for DIP financing.

Until their CEO’s are also bankrupt or working on the assembly line for $15 dollars an hour, I say no way. I’m so sick of government bailing out companies while CEOs and other senior executives at these companies continue to take lavish benefits and salaries.

uaw are the laziest production workers in the USA,starting pay is around 55,000 plus benefits, for what! to put a screw here and a bolt there.the have 18 paid holidays plus vacation and sick days. give me a break. go to UAW website and see how much the starting pay and benfits are

proping up a dead man walking business is more reflective of what we as a nation spent the last 50 years fighting—-communism–we have become that which we were fighting against

This corporate bailout craze was a bad idea from the start. Once you start bailing out companies, where do you stop?

The people who need to be bailed out are the common people on the street. If we don’t have money to buy the products these companies produce, you can throw all the money in the universe at these big companies and they will never be viable.

Pure trickle down economics doesn’t work, even Ronald Reagan bowed to that reality in 1982.

The auto industry, as structured, is the turn of the 20th century horse buggy manufacturer. They have onerous labor contracts, built on a 1950’s labor relations model, that have killed all flexibility in changing the production structure to manufacture the cars people want to buy. The SUV is dead.

Not once, in this entire affair, have we seen the UAW step up to the plate and offer any kind of assistance. Why isn’t the UAW negotiating for an equity stake in return for temporary concessions?

I just can’t support a bailout if the UAW is going to not have to make a sacrifice. They are analog workers in a digital age. Metal bending isn’t the future of cars. Just look at some of the electric car manufacturers.

If a bailout is offered, under the current structure, it should be in the form of US guaranteed debtor-in-possession financing to all the auto companies so they can declare bankruptcy and set aside the union contracts. This is the only way I see for them to emerge as viable, globally competitive companies. Half of the bailout cash, if the current structure is allowed to continue, would go to workers who don’t work, not to building new fuel efficient cars.

Chapter 11 with a renegotiated union contract is much better for the unions than keeping their current contracts with a Chapter 7 liquidated company.

The auto industry needs a slap in the face to wake up and realize that their business model, as well as their labor relations model, is outdated.

Giving the US auto makers a bailout does not address the issues that got them into the position they are today. To me, any bailout money given to them will just keep them running until its gone, and then what happens? I read reports that our economic problems could last through next year into 2010. With the current problems facing the big 3, they need more than just money to get them out this crisis. To start they should:

Cut labor costs which means getting the UAW to support cuts in pay rates for blue collar employees (which will never happen in my opinion). Paying people with just a high school education +$60K a year to assemble parts while those who attend college for skilled positions and pay a substantial cost for that degree can’t find jobs that pay close to that amount.

Product quality has got to improve. US auto makers went through this same dilemma back in the 70’s when foreign cars had much better quality than US made cars. Then US car quality got better in the 80’s and was comparable to foreign cars. But now the quality is slipping again and US autos are less preferred over foreign.

Innovation in Detroit is almost non existent. Rather than working with the government on raising fuel economy standards, they turned a deaf ear and kept on cranking out those gas guzzlers year after year. And its only recently that you heard them talk about alternative fuel cars and hybrids. They had the opportunity to learn from the 70’s oil embargo and begin designing more fuel efficient vehicles, but they didn’t capitalize on that opportunity, did they? Imagine where we would be today if they had started building more fuel efficient vehicles back then.

Safety in the cars produced by US auto makers isn’t even close to where it should be given today’s technology. It seems that every year foreign cars rank the highest in safety. People might be willing to pay a little more for a car that’s dependable and safe to drive.

Overall, US auto makers should have seen this day coming. When things are going well for them, they listen to no one but their bottom line and shareholders. However when times get tough, they come crying to the government wanting a “handout” to compensate for their own bad decisions.

Any bailout money should come with more than an equity stake in the company. The government needs to mandate improvements in fuel economy, clean air standards, alternative fuel vehicle development, and most importantly with concessions from the UAW so costs can be driven down and hopefully sticker prices as well.

We need to stop the economic whack-a-mole somewher, if not here then where? Do we bailout the 2nd biggest mall operator thats close to bankruptcy? or how about every other business thats going to go under in the next year?

“Bailout”, no. “Workout”, yes. GM, specifically, has 2 options. Recieve financial assistance or no longer exist. GM does not have the finances available to survive chapter 11 bankruptcy. Even if they did have the cash, they’d still wipe out several smaller suppliers and those that supply the suppliers. Totaling how many millions of jobs?

To not exist for GM would have catastropic effects across several industries. It is estimated that 2.9 million jobs would be lost should we allow the auto industry to fail.

I’m ok with requiring a new business model, forcing Mr. Wagner out of his position and demanding greater concessions from the UAW to match wages/benefits of other non-union factories – effecive before payment of any assistance.

The only way I would agree would be if the factories all retool. Half of them producing 100% electric cars, not hybrids, but electric cars like GM already had back in the late 1990s. The other half of the factories retooled into producing rail cars. We have a huge need for many thousands of new train cars, and we are importing them all from Europe. That doesn’t make sense when GM and Ford could quickly become world leaders in the manufacture of trains.

govt can’t get involved with every company that needs help The auto ind gave away too much to the workers health care and yearly bonuses. let them help themselves now. tax payer dollars is not suppose to be used for private ind bail outs

If The Auto Industrie Gose under then will lose over 1 million jobs and we will be in a depression. Congress should look at what realy caused this mess.. The fact that oil went up to $140+ and gas prices rose out of control if they don’t regulate the oil industrie then a bail out will not help anybody. It’s not if, but when Greed will destroy our Economy! Trying to get rich quick is greed.

Unfortunately, yes, it has to. It will cost the country more if we let them go under, due to the loss of hundreds of thousands of jobs, not just at the car companies, but all of their suppliers. And besides, GM helped save the U.S. during WWII!

Hell no!

No bailouts. GM is where it’s at because of its own actions. My parents have had GM vehicles since I was a kid. My second (and last) GM vehicle was a Pontiac Grand Prix, which was a model of poor engineering. I became fed up with GM when my car was having problems with the steering rack that they refused to fix, despite the fact that they recalled over one million other cars for the same problem. Mine “didn’t fall into the recall VIN range.” My parents and I now drive Hondas and we could not be more satisfied with them. My Accord has nearly 100,000 miles and has required nothing other than fluid changes and gasoline. THAT is why Detroit is having problems.

If I lose my job tomorrow and can’t afford to pay my expenses on unemployment benefits, no one is going to bail me out. No one should bail Detroit out, either. If one (or more) of them fails, the other automakers will step up to take their place. That’s how free markets are designed to work. Propping up companies with totally incompetent management isn’t a good idea, no matter what the circumstances.

In 2003 I noticed a change in my take home pay based on the increase in health care premium costs, so I made a change to get lower cost insurance and stay healthy. In 2004 when the cost of gas was getting higher I changed my driving habits. When the cost of building supplies went up and I knew it was going to cost me 50% more to finish my house I was building I made changes to my spending to get through the addtional costs. In 2008 when I was laid off, I once again made a change to my life and I am slowly loosing everything I have built in my life time.
You can not show favoritism to one group of companies when this recession is going to affect everyone.
IF you are going to help someone, help the american and small businesses that will affected the most. If 20% of small businesses goes under, the affect will be more drastic than the 3 auto makers.

Please stop this insanitity. They are using my money and not for the good of the country but for the good of a few. When was this part of goverments role.

I have seen the state of things in MI/OH recently. I can’t imagine a bialout big enough to resolve those 30+ year problems. Take the money to be “given” to the “companies/execs” and give it to the local teachers, food banks/medical, police and fire fighters. They are going to need it, and they are they only corretive actions than can have an impact.

America hates Detroit because the unions have created an unprofitable scenario and now thousands of jobs are at risk. They need to go through bankruptcy because I think that is cause to revoke all contracts by the labor unions. Then give them a bail out on the conditions that the unions reorganize the workforce around more realistic wages and benefits, investments in fuel efficient vehicles, etc. Of course the government has to put in the condition that they step away from table after the help is given.

Sure. Bail them out. No bonuses for anyone. All employees take a 50% pay cut immediately. Stop all SUV and truck production unless they are hydrids. No more unions. And no more medical/retirement/etc. benefits for the FAMILIES of the retirees…JUST the retires themselves. That ought to shore them up.

For many years GM has had tremendous opportunities to correct itself and build better cars but they did not. While other car companies were innovatively building hybrid and fuel efficient cars, GM was busy building the gas-guzzling Hummer.

The company should go bankrupt and reorganize itself.

Employees should be given tax credits to retrain themselves for more productive jobs and more relevant skills.

It does not make sense to make Taxpayers pour hard-earned money into a failed company and industry. This is essentially a big black hole that will burn up the bailout money in no time and still fail. Taxpayers should not be penalized and bear the burden for the failures of the auto-company.

No Bailout.

Much of this mess is caused by Unions dictating company policy. A gov’t bailout will have to include a dissolution of these powerful unions. A free employment market will be the way of the future. The time for unions is past.

I would accept a bailout with strings — abrogate all union contracts and start from scratch. There is just too much legacy costs built into the price of a car (over $2500 I believe) — costs resulting from the days when Detriot was king of the hill gave the unions whatever they wanted to prevent a strike. They are not king of the hill anymore and simply are unable to compete with these costs. Any bailout with the current cost structure is a complete waste of money.

NO Bailout’s period! I didn’t want any of the companies that got bailed out bailed out. 75 Billion dollars…I would have preferred that the government just hand each American $1000.00 cash than to bail out companies that should have known better than to mis-manage their money, build cars that are not fuel efficient or competitive, and practice bad judgement, period. In addition, nobody is bailing out homeowners, who I’d rather see bailed out before any companies. This needs to stop, NOW! NO MORE BAIL OUTS! Let them all go bankrupt. They need to learn a lesson, now!

Should we bail out a business/industry that is where they are, in part, because they continued to build/promote large SUVs and delayed pursuing more eco-friendly alternatives until economic (OPEC) influences forced their hand?

To the corps: If you’re gonna be dumb, you gotta be tough.

I feel bad for the workers and their families (why does all this crazy bad news come out at holiday time?)

Like banks, why should I bail out automakers for the poor foresight and strategies employed by their top brass, who will continue to live at a higher standard than I?

The Big Three have primarily made and advertised Big SUVs- vehicles that the majority of people never really needed. They continued this well into the $4/gallon fuel costs, and people no longer wanted to buy them. The SUVs were also highly profitable. They should take this highly profited cash and use it to remodel their business. If they no longer have this money, then that was a terrible mistake. Too bad. Other manufacturers make both cars as well as SUVs, and they are also suffering, BUT they are not looking at “running out of cash” either.

No bailout for bad business models! Let a successful business buy the wreckage, if they want it.

The bailout will not make people want to buy their Cadillac Escalade anyhow, even if it was a “hybrid.” If you make a big mistake in business, you go out of business. This was a huge mistake, and bailing them out is even bigger!

All things die, it is the nature of the universe. Do not rage against the dying of the light. Out of chaos, new leaders of industry will emerge and continue to lead us forward.

Mr. GM,

Excuse me, but I deal everyday with all sort of Dealers from different car manufactures.

And my honest and complete opinion is that GM Dealers are not helping nor seemed to want to help anyway.

If you ever went to a Toyota or Honda dealer to buy a car, or service it, you feel the difference as you walk in the store.

Quality on GM is far below average. Do you have consumer reports? The only US brand on average or better is Ford.

When you couple (I will grant you the benefit of the doubt) average quality with bad Dealers, does this seems to be something anyone would be willing to pay for?

This whole discussions focuses on two different subjects:

1) Should we bail-out a company that appears to be mismanaged and does not seems to have a exit strategy or good product to rely-on?
From everyone’s pespective, the answer is no.

2) Should we strive to maintain jobs during this recession (and because we don’t, and never will, know the exact effect a bankrupt GM would have on Economy)?
The answer for the second one is still in the air.

I don’t have any comments on National Security, but maybe we could use Toyota or Honda as they are is US now, right?

Where do I go to get my bailout? If everybody gets a bailout does anyone really get a bailout?

No public money without firing the incompetent execs who have mismanaged GM into this position and a restructuring of the labor contracts that make American auto products so non-competitive. The execs probably are in a panic – without the bailout the trough will run empty and they won’t get their swill.

This whole discussion regarding the bailout of the auto industry seems to center on the manufacturing process. Should the taxpayer finance the continuing operations at the auto plants? I am generally against this approach. Let the companies succeed or fail based on the merits of the products they offer. However, there is one area where I may be more amenable to government assistance: help the auto finance companies.

Most auto manufacturers have a finance company associated with them (GMAC Financial Services comes to mind). The purpose of these organizations is to provide financing to would-be buyers. They are essentially banks associated with the auto manufacturers. By providing financial aid to these organizations, they would be able to offer loans to consumers, and therefore sell more vehicles. Or course, the manufacturers would still have to get the consumers in the front door, and this means offering products that people want to buy. However, the lack of available credit would no longer be as big a factor.

Furthermore, aid to the finance companies of the industry does not break faith with the basic purpose of the bailout: getting banks lending again. There are some very legitimate taxpayer complaints about how the bailout has been growing beyond its original scope, and concerns over where it will all end. Helping the finance companies of the industry is in line with the original purpose of the bailout.

In short, it doesn’t have to be an either-or question about whether or not to bailout the auto industry. Provide aid to their financing companies, similar to that provided to banks. With credit no longer the main issue, the companies will sink or swim based on their ability to sell cars that people want to buy.

NO! Poorly run corporations like these should not be bailed out. They knew 10 years ago they were making money only on large SUV’s and pick-ups. None of the big 3 has anything remotely as “green” as the Prius (now in its third generation). When are they going to learn? As soon as gas prices declined, Ford started making more of their big pick-ups. Now they want my tax dollars? I don’t think so.

It is time they became more competitive. No bailout. Perhaps they should consider separating the N.A. operations from the foreign operations and sell the N.A. portion to the U.A.W. for $1 and then see how successful the company can be with their current labor contracts.

Are you all to blind to see the larger economic picture?

Was the financial bailout good?
NO
Was it necessary?
YES

We should let the automakers fail so they can get out of the pension contracts? So that they can make a competitive product?
If the automakers fail there are approximately 7.2million additional Americans that will be out of work… 7.2million Americans added to the unemployment lines…

Now, in terms of a competitive product… They have been manufacturing a competitive product for the last several years. They haven’t done enough to change brand perception amongst the masses…

However, if the closed-mindedness demonstrated in this forum is example… there is nothing they will be able to do to change that…

I want to voice my complete disgust with any plan to bailout GM that does not nullify the existing and onerous UAW contracts. If the auto makers are the backbone of American manufacturing, then the UAW is what broke that backbone. Let them take major pay cuts for the way they drove GM and the rest into the ground with lavish benefits, pensions and hourly pay packages that drove jobs and market share to lower cost foreign competitors. Our big three can’t even produce a car people want to buy when times are good, and they have had 30 years to figure that one out.

Let the UAW workers make equivalent compensation to what Toyota and Honda pay American workers who produce better cars for far less money, and those workers are thrilled to have those jobs. How can the Japanese build factors here, using American workers and still build vastly superior autos without UAW labor? Because the UAW is the key to the problem! There is no shortage of laborers who will accept less than the princely wages the UAW has extorted and who will do a far better job.

Don’t let the UAW stick U.S. Taxpayers with their bloated pension costs. I for one don’t get a pension and resent Congress trying to stick me with that bill to curry favor for union voters. There is only one way to make GM financially viable again and that is to nullify those UAW contracts.

What is the Business Plan for success? What is going to happen to the Plants -not in America? What changes will be made to NAFTA? What are Unions willing to give up? What are the workers willing to give up? How would the monies be spent? What is the interest rate on the bailout? How many years to pay back? I would like a Transparent plan – published for the Taxpayers to review and have input to. The taxpayers need more information. Congress needs to be open – we need to demand more information. The News media needs to be pressing for these answers. Make Washington and the Big three be accountable to us – the Taxpayer.

As an American Small Business Manufacturer – buying AMERICAN MADE – and selling AMERICAN MADE. If I want to borrow money -I must show profit, must show 3 Year BUSINESS PLAN FOR SUCCESS. I must be knowledgeable of my business and know where the monies go. I have cut spending and jobs. BUT -JUST FOR THE RECORD – the Credit Market has not opened up. Midwest America has seen No monies trickle down. We are on our own. Government bailouts are not the answer. Hard working responsible AMERICANS should be up in arms!

It’s easy to say, selfishly, “Let GM go down”. But, in fact, you would shoot your ownself in the foot. One in ten Ameerican jobs are auto manufacturing related. And those that say “Get rid of the unions and the wages” they get, shows why so many people barely get by today with what they earn. It DOES take skill to build cars, if you don’t think so, tour one og GM’s plants. You think you could do that job? And you you do it for any less? When they build a product that rolls off the finish lines valued at from $12,000 to $65,000, and one EVERY minute pers shift. Why shouldn’t they be paid fairly. Who makes ANYTHING that sells for that much at that rate? One final thing. Those of you so willing to throw all the domestic auto related jobs out the window so easily. Think about how you would feel, and what you would do, were it YOUR job. Don’t be so self-centerd and selfish. This was at one time America for all, not just the selfish. Let’s get it back to what it once was, and support all Americans.

Too much capacity now in the auto industry, sales likely will not return to 16 MM+ per year for many years.
Many people will lose their jobs,
giving money only postpones this event,
will not change the outcome.

Get it over with and focus on assiting the individuals, not the corporations.

No bailout. The companies and the UAW made this mess, now they get to sleep in in.

To use a building metaphor: Sometimes a bridge is so badly corroded that it’s far better (and cheaper) to demolish it than try to repair it, especially if the design has fundamental flaws.

Oh yeah, I’m not in a vaccum on this one: I work for a major aerospace manufacturer based in Seattle. Our assembly line workers seem to have the same attitue as the UAW guys (the company is the enemy, strike at the drop of a hat, etc). The engineers union is harping for a 30% raise in the current negoations. Don’t this “geniuses” at both the IAM and SPEEA see the implications and parallels (e.g. Bombardier, Embraer, Japan and China all have ambitions to move in the duopoly space we hold with Airbus)? Seattle will be Detroit in 20 or 30 years….

Congress will probably have to pass a bailout for the auto industry, mostly because of the spill-over consequences to other industries and the huge increases in unemployment if the big three are allowed to fail.

However, it is critical that part of the agreement is to stop the abusive contracts that the UAW has forced upon the industry in particular and the american consumer as a whole. Get rid of the “jobs bank”, make the union take care of the pension funds for their retirees and pay wages that are commensurate with the level of education that the union membership has.

The UAW labor contracts of the big three are killing an industry that is essential to us all.

What really needs to be changed within the Big 3 is the corporate culture. GM in particular is VERY resistant to change, and most of their cars reek of “design by committee”. No doubt internal divisions are strongly protecting their turf. GM has always been capable of building a great car and has done so on occasion but it’s almost like they build the great ones by accident or by chance. Most of their newly designed models have serious flaws that should have been spotted well before they were manufactured, but it wasn’t really anyone’s job to do that. Until this attitude changes, no amount of bailouts will save this industry. New management is needed for sure, but it is critical that they break this old-school territorial culture within.

No Bailout. These companies are failing because they are forced to pay ridiculous wages and benefits (and pensions) to unskilled workers thanks to the allmighty unions. They need to restructure union contracts through bankruptcy like the airlines. A bailout simply prolongs a failed business model.

No Way. Let them sink.

I feel Government funding is only a short relief for the troubled domestic car manufacture companies due to poor quality of engineering. If i was asked to purchase corvette or BMW M5. I will move towards german engineering. I highly recommend to hire european designers to help as a part of the bailout.

Put all 3 auto makers into bankruptcy so they can renegotiate with the UAW and suppliers as a unit. The government fronts the debtor-in-possession financing. The entire system from labor to manufacturing to sales needs to be improved. This also alleviates the fear that buyers will switch to cars not in bankruptcy. It isn’t that tough if you look at the big picture and stop the penny ante $25 billion here, $50 billion there. Cure the problem not the symptoms.

No, no, no.

If the Big Three are such great investments private investors would be scooping them up. This is a heavily branded American company that is decades old that no sane investor wants any part of – even at $3 a share.

The unions and management have ran this company into the ground and now they want to dump it on the American taxpayer.

Wake up America, you are being sold a dud. Urge your representatives to stop the bailout and let the marketplace decide the fate of these poorly ran companies.

Everyone is missing the point here. These companies suffer (especially GM and Ford) because of their legacy costs. GM at one point, if rated by GDP, would have been the 9th largest producing country in the world on its own. These are a companies that are right sizing, and have made significant strides with their union contracts and health care costs. Problem is they dont take place until 2010.

If they fail, I hope everyone enjoys helping the government foot the bill when hundreds of thousands of pensions get taken over from the failed big 3 and suppliers by the pension guarantee fund. I also can’t wait to see how much money the government is going to have to pay in unemployment.

Funny thing is the big 3 are making money hand over fist outside of the US. If they were to cut labor costs such a huge amount, the same people would complain about them outsourcing jobs overseas.

You may not know that the best selling cars sold in Japan are not sold in the US. Toyota Camry, Honda Accord, and Nissan Maxima are not the best ones in Japan. I feel sorry for the American consumers. You know why? Japanese car makers are　all trembling unreasonable J-car bashing if sold too much compared with GM, Ford, Chrysler. It’s time to say good bye to American car makers. Otherwise, American people can never enjoy the cheaper, better, more stylish, fuel efficient cars. I think, therefore, American should say no for the additional bailout.

Let them sink – they created their own demise with poor quality that to this day has failed and continues to fail to narrow the quality gap with foreign automakers.

Absolutely not! The government should not bailout the auto industry and it was a grave mistake to bailout the financial sector. Why should the government compensate for companies’ failures? There should be no “do-overs” or second chances. It doesn’t matter if it’s the housing market, financial sector, whatever.

Bailouts for financial institutions, AIG, and now the U.S. auto industry? What happened to companies who don’t practice sound, logical, and conservative business practices going out of business??? Must be a thing of the past…I guess this country is farther along the road to socialism than I thought…

Contrary to Lee from Valencia, CA -I DO NOT think that things have changed (for the better) in the past 20 years. I agree that GM has represented not only Detroit but also America but I have been ashamed of that fact. In the past 10 years I have written countless emails to car rental agencies telling them of my dissatisfaction and asking how they could rent such a horrible vehicle. It has been unconscionable that GM continue to contribute it’s MEGA oversized vehicles to the public. (If it felt that not selling these vehicles would have lost them market share then they should or could have chosen to be the innovators in stretching gas mileage or alternative fuels). Where were they? They were too busy being greedy and counting their money to be a responsible member of the rest of the world. I am sorry, but over priced union jobs helped to make the employees silent to the envoimental responsibilities of the automaker. Where were they to protest and demand that their company develop a heart? Now GM wants or feels that they need a hand out so that they can continue to operate in the same greedy capacity? NO WAY! NO MORE BAILOUTS! The thousands or hundreds of thousands of displaced workers may become a burden to the rest of society for a time but haven’t they been already?

There is no need to put money into a failing venture. The bank bailout was a mistake as were all of the others. AIG continues to party on our dollars. Stop the madness!

Watch the back door folks! As they prepare for bankruptcy the big boys are running out the back door with the parachutes. The workers will wonder what happened to their retirement and health insurance. Believe me, I’ve lived it working for Bethlehem Steel for 27 years when the pulled the wool over everyone’s eyes.

YES on one condition I get 1,000,000.00 and will even be willing to pay the taxes on it.

NO! Providing a bail out only prolongs the problem. These companies need significant restructuring and the only way that can happen is for them to get from under their existing contracts and start from scratch.

I do not “hate” Detroit. Having said that, I am not in favor of using our tax dollars to bail out yet another flawed business model. The “Big Three” and the UAW have equal culpability in this case. The manufacturer’s have allowed themselves to become slaves to lavish health care and pension benefits for life to their retiree’s. Unfortunately due to their ridiculous labor agreements and low quality products, they cannot maintain the revenue stream necessary to support their agreements. I would hope that somebody in the UAW would have had the foresight to recognize that this could not continue forever. Both parties need to stand up and negotiate a business model that is viable, or fade into the oft repeated history lessons. In 1985 Ron Weisen of the USW stood in Pittsburgh and told the masses that “we’ll show U.S. Steel”. Well Ron, how many USW members are left in Pittsburgh today. You showed them alright. Nissan trips all over themselves to treat me as a cherished customer. The “big three” treat their customers with disdain. Why would anyone pay for that, let alone bail them out with our tax dollars?

When are we going to start holding people accountable for what they do or fail to do? This is crazy! NO BAIL OUTS! The companies in question got themselves into this mess let them get themselves out. Our economy is not the problem, our society is the problem. Too many have their hand extended for a hand out. We give people who don’t even pay federal taxes a tax rebate. I did the right things, I assumed a loan that had a fixed rate that I could afford, I had life insurance on my wife so that when she died I was able to replace the lost income. Why do I have to pay for all the others that did not take the proper precautions or who gambled on the interest rates. We need to stop this now. Additionally, I agree about the comments concerning the unions. Big labor has made it impossible for these companies to do what is needed to be competitive. However, in the same hand the companies agreed to the conditions. Let it all crash and burn. It will be rebuilt better and hopefully without unions!

Will U.S. government money also go to Toyota, Nissan, Hyundai, Mercedes and BMW? All of these companies build cars in the U.S. and employ many U.S. citizens? Or is the charity reserved only for the incompetent Detroit-based automakers and their unionized workers, who are over-represented in our Congress?

Taxpayers bailout must be ONLY for domestic production and selling of energy super-efficient vehicles in line with the objectives toward energy independence and creating US jobs.
Not a single penny for past madness, inefficiencies, stupidity and greed.

As long as the UAW is associated with the automakers, the companies will always be at risk. The UAW is all about privilidges, always wanting more with out any effort. The automakers dug their graves deeper with every UAW contract renegotiation. It’s time for all the suffering to end.

Albeit that Government should not be in the business of bailouts, A loan program to the Big 3 is in the best interests of the entire United States. The rest of the Country needs to understand that there’s plenty of blame to go around. Punishing the Big 3 for past mistakes will not make things better in this economic crisis. If the Auto industry does not receive some sort of aid the economic future of the entire United States is at stake. Basic industries such as steel, rubber, plastics, engineering, tiers 2 suppliers, tier 3 suppliers, Hospital care, retiree’s,will all go through a radical change. Bankruptcy is not an option because you can’t just reorganize and continue with economic climate as it is. Some experts suggest 1 in 10 jobs will go away, and these aren’t minimum wage jobs but high tax paying jobs that the Federal Government can’t afford to lose. Where will 3 to 5 million unemployed go? Yes to the Fed and then to the welfare lines. Also, will we import everything and become a 3rd world nation.. If the government can bail out the banks to the tune of 700 Billion, certainly 50 billion will not break the Fed. The big three’s employment taxes and income taxes would exceed that in one yr. People , Lets use our brains here.
After saying all this I yhave a word for the Auto Union, executives and the pensioners. Get real with wages and benefits. You’re only entitled to what the market can bear.

I love cars. Especially old Detroit metal. But those fools have been ignoring reality, and consumer tastes for more reliable Japanese products, for thirty years now. I say bail out one or two of them. And then only with money earmarked for new, efficient technologies. The government should not throw money into the same old junkyard.

I ask my question, why have I not bought an American car in 25 years – poor quality, I don;t need a Yufon that gets 10 miles to the gallon. I have no sympathy for Detroit. Maybe they should have watched what the Foreign auto makers were doing. I want my tax dollars to go to the Wall Street bonuses this year!

I don’t believe America hates Detroit. Quite the contrary. It’s very sad what is happening That being said, there should be NO BAILOUT for the American automakers. Simple business rule: adapt or die. The American automakers failed to adapt. Sad, but true.

No bailout. Auto makers should have started years ago to built more fuel efficient cars. Why don’t they offer the same cars in America then they do in Europe. We do not need big, bigger and the biggest. Right now down sizing is the answer to this mess. Do we need another Hummer? What kind of example does GM set wanting to build another Hummer? Again,
it is catering to the rich and expecting bailout from the poor middle class taxpayers.

PRESERVING JOBS FOR WORKING AMERICANS IS FAR MORE JUSTIFIED THAN BAILING OUT THE WALL STREET GOLDEN BOYS WHO CAUSED THE CREDIT COLAPSE AND WALKED AWAY WITH MILLIONS.LET WALL STREET FALL NOT OUR MIDDLE CLASS WE ARE THE ONES WHO WILL HAVE TO PAY IT BACK ANYWAY!!

No way should there be a bail out of the auto industry. Let it compete. They need to get rid of the ridiculus unions and defined benefit plans and compete.

If detroit gets a bailout, strings must be attached to ensure that never again will the lords of autos engage in horsepower races or lobby Washington to lower milage requirements.

Detroit has consistently ignored the fact that their Japanese competition was improving milage and innovating with hybrids, and now the taxpayer is paying the price.

the detroit powers that be must pay the pricefor their lack of forsight and leave the industry.

US manufacturers can’t compete with the imports with small, efficient and reliable cars because the unions kept driving the wages up and up for the US auto worker. NO BAILOUT. They deserve what’s happening. Cost of labor is too high.

Some of the angry people against the bailout should read the other articles on CNN about how many people will be affected by the collapse of the auto industy in Detroit. It’s not just a Detroit problem, but a national problem.

They are not looking for handouts, but loans to keep them going in order to get the next generation of vehicles out the door, and help them weather the recession.

The companies are taking great strides in reducing waste, excess staff, and improving vehicles. However, the solution itself takes capital and time. The problems some people talk about did not evolve overnight, but through time, and solving the problem will also take time. It has been going on for 2-3 years, and adjustments are still being made. Check the latest quality ratings for proof. You believed them when they were trashing Detroit, believe them now when they are showing its gains.

NO! They have a horrible business model and make terrible cars so should not take our hard earned money (tax dollars) to dump into their failing business.

GM will not die in bankruptcy. The viable part of the business will be reorganized to be profitable, and those jobs will be saved. Without a reorganization, a bailout will simply throw good money after bad.

No the government should not provide anymore corporate welfare checks. We have started down a bad road and continue to travel it, where is it going to stop? Next in line would be the airline industry and then the steel and retail. Look at where our bailout money has gone so far right to greedy banks that are just hoarding the money or out an out investing or buying up other banks with our money. The process has become so lucurative that now credit card companies are becoming banks just to get bailout money. I live in Cleveland and look at just what happened with National City Bank it was took over by P & C with Bailout money. So now here comes the auto industry who for years have seen this coming and did nothing about it, they continued to produce, inferior overprice gas guzzlers and then wonder why people when to the competition. Also they have never really force labor to take concessions to reduce the price per unit costs, $42 dollars and hour to sweep the floor is a bit much. Just yesterday I was reading the GM is going to expand there presents in China, so where did they get the money for this? maybe they should look there and other place for bailout money, Like another reader pointed out they can survive bankrupcy, this a big company. I also believe not to go off on another tangent but the banks owe us now. They want to stimulate the economy well then how about this, since they took the money that was geared to help the economy, they give all of us taxpayers a 3 year credit for our home,auto, and credit card payment, did we not just pay them?

I understand that over two millon jobs assciated with GM will be lost. I have compassion for those people if Gm does not survie bankruptcy. However, Gm had a chance years ago to persue & produce alturnative types of energy efficient automobiles & they did not. It appears that every few years Gm has been in financial trouble. It is time for change to move on to more productive solutions for our economy. Instead of the never ending, hole, of bailing out GM.

Ellie Hawkins
Joshua Tree, California

I infactially disagree with most of the post on here. GM in particular makes a very good truck and SUV most and are the most effient full size vehicles on the road. The foriegn products suck literally much more fuel than the GM product. We need to continue producing better more effient vehicles, but not bail out the unions (which is how the bailout will be used). We do need to keep the auto industry in the US afloat. If not, there is a lot more at stake than jobs (which would be many more than the big 3 employ). There would be mass layoff in the auto, electronic, financial, service sectors as well. Not to mention there would be grave issues related to military products and the like.

Is Detroit too big to fail? Was Lehman too big to fail? Should we reward poor business decisions, outrageous executive compensation, bloated union contracts and misguided manufacturing (SUV’s, Bigger SUV’s, Huge SUV’s) with a bailout? Time for American business to bail their own butts out. Maybe the unions can lend Detroit the $$$, after all they have been enjoying sweetheart contracts for decades. Welcome to the party boys!

No Bail Out, Let them go Banrupt
If Bailout than they should come up with better products, No one continue wants to drive GM, I rather choose Japanees

Until the big 3 learn to get costs under control, including labor, no bailout. When gas was $4 a gallon, they were wasting millions in advertising on TV pushing gas guzzler trucks and Hummers. These companies are out of touch with reality, their unions, who vowed to serve their members, and fight for a better living have no members left because of layoffs. Let them fall, and re-open non-union.

We tout our free market society around the world. What does it say when we tell a manufacturer “I don’t like what your giving me so I’m not going to buy it” and the goverment steps in and takes my money and gives it to them anyways. Let the Unions bail’em out.
No “Bailout” from me.

There should not be any more bailouts for the Big Three because there had already been a $25 billion bailout not too long ago. Should the government keep on financing Detroit so that their workers can keep up with their unrealistic salaries and remunerations which caused their products to be uncompetitive and that is on the expense of taxpayers’ money!!! Does it justify that whenever a company that is mis-managed be bailed out with taxpayers’ money? What if those bailouts ended with the companies failing all the same? How does the government answer to the taxpayers then? Should all taxpayers suffer for the sake of mis-management of a few? I say let them go bankrupt. It’s only fair that each company bears it’s own responsibilities. At present with all those hundreds of billions or maybe even trillion dollars of bailouts, I really wonder how it would affect the general welfare of the citizens — will roads and bridges be well maintained? will there be any cuts in educational budgets? What about health care, veterans’ welfare? There HAS to be some effect on social welfare after all these!!! All these money has to come out from somewhere!!!

Sure the Auto industry should get a bailout…. and they should get their loans from the banks that got the $700
billion. Isn’t that why we gave them the money in the first place? Or we could cut out the middle man and just
loan them the money straight out.

The loss of 3 of the biggest corporations in the United States would spell doom for our economy. Take into consideration how many jobs would be lost, directly by GM, Ford and Chrysler- then consider how many vendors that provide parts, labor, etc. to these companies. You scoff at CEOs making huge salaries while this absurdity is taking place and profess the desire to watch them suffer- heck, I agree- but consider the common man losing his job at GM/Ford/Chrysler and subsequently being unable to support his family.

Sure, it’s taxpayer dollars at stake here, but would you rather the country enter an all out depression because taxpayers are too near-sighted to see the big picture? Hundreds of thousands of people would lose their jobs and as a result, have no money to contribute back to the consumer economy in the event that no action is taken. Furthermore, these unemployed workers would saturate the market, providing little opportunity for new consumers to become employed, further perpetuating the economic issue at hand.

Give me a break. Stop looking at a Detroit bailout as a “free pass” for these companies, and see it as an effort by our government to preserve jobs.

We need these jobs (1 – 10 million total) in the US. But, we probably need a government ‘take-out’ rather than a ‘bail-out’. Here’s how it would work:

Federal government buys enough stock to take over GM, Ford, and Chrysler. At current prices, this is only $1 – $10 billion, much less than these wild numbers of $25 – 50 billion thrown about. Merge them all into one company, which will supply about half of the US market and a significant share of the overseas market. It’s worth something. The problems are in health care and pensions.

We need to quickly decide how many workers are still needed, as the US car and truck market is only about half the size it was a year ago. This is necessary, if painful.

Then, we put all of the retired workers into Medicare, like the rest of us. Then, we put all of their current workers into Medicare, which is coming soon for the rest of us.

Then, we hand over the company pension plans of all current and retired workers to the PBGC, like the airlines.

Everybody still gets health care and pensions, but they’re not paid for by the companies.

This restores competitive footing. The US and Japanese companies pay about the same wages in the US (Japanese workers accept lower wages in Japan.) The Japanese companies don’t pay for health care or pensions in Japan; the Japanese government does. The Japanese companies don’t pay for health care or pensions in America: the American workers do.

If we’re going down the path of globalization, we’ll have to go all the way (globalize our health care and pensions), not just lower our wages to global levels.

If the Unions take a 50% cut in pay and benefits until the loan is paid off give the bailout…

Give a bailout ONLY with strong controls:
1. It is an investment in the company (receive equity).
2. Have influence over what they produce.
3. Have control over executive pay (no money for losers).

So it is ok for CEO’s from banks; investment banks to get $$millions in bonuses and payouts and still get help but the Auto industry shouldn’t. We should be giving the American’s who buy American tax breaks and those that buy imports pay a higher tax. You will see how quickly we start buying our own goods and then we can drive proudly with “OUR AMERICAN FLAG” on the back of our cars. We have bailed out Iraq and continue to spend billions while they pocket $$billions along with Halliburton who got a “no bid contract” to supply goods and services. Actually we should as Exxon, Mobile etc etc. to chip in some of the “windfall profits” they have made. But I’m sure they will find an excuse such as “R & D”; I would rather call it “IMPOS” “In my pocket off shore”. Damn those unions that provided your grandparents and all of us with decent wages, healthy work invironments etc instead of $.10cents a day for sourced out jobs then keeping the profits instead of selling goods cheaper to the American Public. If a Foreign Auto maker comes here to produce the profits should stay here but they do not. STOP SENDING YOUR AMERICAN MONEY OVERSEAS!!!Maybe then you can call yourself a “Real American”!!!!

Absolutly no bailout. The big three are the worst manahed companies in the industry. Why can Honda, BMW, MB. Nissan, & Toyota [all made in the US] make money.

Easy. No stupid UAW, with high wages, bloated benefits, and lack of skills. Any person off the street could bolt two pieces of metal together.

Their management is not in touch with the customers that demand high efficiency, good quality, high resale and forward reaching technology. The big 3 do not provide it. They also get bloated bonuses.

Let them fail. Go Chapter 11, and dump the greedy suppliers, greedy unions, and get lean and mean and be a competitor. The world will not beat a path to the door of a company with bad products.

I want my bailout now

I read a comment by a GM employee on here who says we should bail them out becuase of the good they did back in the 40’s? Well because I was a good person back in the 90’s does that mean I can go rob banks, steal cars and expect a pardon because I was good 10 years agao? Think about that one!

For years people asked for gas efficient vehicles and they said no to us. They must endure the fate that other Americans have had to face. If we bail them out now…then they won’t learn their lesson.

It’s unfortunate that people may lose their jobs, but if their working for a business than is unable to produce a profit for whatever reason, they should consider restructure. Start at the top where the decisions are made and the big bucks are spent to cut unnecessary expendatures. Stop with the big CEO packages, price product to be competative and they can’t do that, they need to close their doors. Why prolong it at everyones expense and allow even more money to go into the pockets of the very wealthy.

Why should we bailout companies that make things that people don’t want? Where does it stop? All these nonsense about taking down the economy if we don’t bail them out is rediculous. Let them fail and see if someone else don’t buy them out and make them into better companies.

Gov’t must think firstly about the social problems in case of thousands of unemployed people and their families.

Absolutely not! When they start building cars that folks really want, maybe they wouldn’t be in the financial mess that they are. They also have too many layers of over-priced management that need to be cut before the folks on the line are!

Yes..they should . If we don’t then millions, and i do mean millions, of people will lose their jobs from the trickle-down affect it will have on all the small companies.

Congress made the decision about 30 years ago to bankrupt the domestic automakers when they deregulated. I am all for deregulation but Congress let the auto makers like Honda build plants in places like Marysville Ohio that were non union and without pension funds. However GM was not able to be non union and had to include almost $1,000 pension fund in every car it sold. When congress set up this unlevel playing field the domestic makers were doomed. It just takes 25 years for a big tree to fall.

Bail them out within the following: Temporary pay reduction from 50% at top level to 10% at bottom. Reinstate pay as bailout money is paid back. No bonuses or other comps. until full payback. No exceptions.

It seems many people writing in this blog are jealous of the wages auto workers make. Apparently they think the working class should return to a proletarian molach. I/E rich class and a working poor class. Although the auto makers got caught off gaurd by high fuel prices, it would be money better spent on companies that provide good paying jobs than to send billions to banks that do nothing more than suck billions of dollars off of the working persons ass! Banks do nothing as far as building this countries infrastructure or add any value except to the crooked bastards that have for years coddled up to our elected officials looking for the hand outs that they give. Bail out the auto industry absolutely!

No, All big 3 still does the same mistakes all three do not changed their models nor fire top management since 2002 where all big 3 started loosing their market not only that i worked on IT project at GM the bureaucracy and the NO change attitude of middle level management is bad and when it comes to facts GM HAS 3000 DIRECTORS in NorthAmerica and each director gets 800USD per month as fuel allowance – instead of closing one prodcution plant or laying of 200-300 blue collar jobs fire few management people who are useless and also cut the cost in projects which are not useful

Big three cost per labor hour ~$78
Foriegn carmakers in U.S. cost per labor hour ~$25. Bailing out the automakers is an absolutely horrible idea. What’s next? Betting a couple million on Notre Dame over USC? I’m tired of these idiots spending the taxpayer’s money on wasteful companies that are getting what they deserve. Bailout NO ONE! Once companies and people fail the recovery will start.

ABSOLUTELY NOT!!!!!!!!! FURTHERMORE WE SHOULD ABOLISH THE FEDERAL RESERVE AND GO BACK TO A GOLD STANDARD FOR OUR MONETARY SYSTEM. WE SHOULD ALSO HAVE A MANDANTORY PRISON SENTENCE OF 50 YEARS FOR ANY BANK EXECUTIVE OR GOVERMENT EMPLOYEE THAT ABUSES THE SYSTEM. THATS THE ONLY WAY TO HOLD PEOPLE ACCOUNTABLE FOR THEIR GREED AND CRIMES AGAINST THE AMERICAN PUBLIC.

No Bailout. If foreign country can make better car, why we can not? the auto-maker should learn how do make better car instead ask tax payer to fix their mistake.

Would you help a member of your family in trouble ? Well this is the same thing
regardless of the merits, because in the end, it´s family. And In this case
IT´S AMERICA !!!

since when did we become a communist country. If you fail you fail go bankrupt and learn from your mistakes. now one learns anything when the government is there to bail them out

WE’RE A CAPITALIST MARKET WHEN THE TIMES ARE GOOD, BUT AS SOON AS THINGS TURN SOUTH EVERYONE TURNS TO THE GOVERNMENT FOR A HANDOUT LIKE WE’RE A SOCIALIST MARKET. IT IS CRAZY, THE GOVERNMENT SHOULD NOT BE BAILING OUT ANY PUBLIC COMPANIES! LET THEM FAIL, THAT IS HOW A CAPITIALISM WORKS.

First off, Detroit built what the consumers wanted at the time which were large, SUV’s. Those of us that were on the “green” bandwagon earlier than the general public must openly acknowledge that the MAJORITY of Americans didn’t care enough about smaller cars/better MPG until gas became so expensive – something that is NOT under Detroit’s control.

Secondly, Detroit’s inability to compete with foreign auto makers (like Japan) has just as much to do with the foreign governments NOT practicing truly free trade as it does with Detroit overpaying for its employees/benefits.

Thirdly, Motor Trend has openly acknowledged that the Chevy Malibu and Cadillac CTS are quite worthy competitors on the global market and has even awarded the CTS the “Car of the Year” award for the 2008 model year.

I’m vehemently against “bailouts” when parties have level playing fields but most foreign auto companies benefit from their government’s intervention for currency control, tarrifs, etc. and for the American governement to sit idly by as it’s historically important auto industry suffers globally because they are the only country following free-trade doctrines seems unfair.

America/Detroit can and does build quality automobiles and its recent history has shown that substantial progress has been made on all fronts (design, engineering, quality, etc.)but to withold LOANS (not GIFTS) at this juncture could prove fatal to one of the last remaining industrialized sectors of the American economy – and all the people that make it run.

Lastly, with funding from the American government, America could FINALLY take a positive position on automotive energy policy and would have the financial leverage to see that Detroit met benchmarks along the way.

ABOLISH LABOR UNIONS.
PUT BIGWIGS FROM BANKS, WALL STREET AND WASHINGTON IN PRISON.

NO! STOP BAILING EVERYONE OUT WITH MY MONEY!

Do you all realize these are loans the goverment is lending out? They are not giving this money to these companys. AIG for instance must pay back 4 billion a year in interest for the next 5 years. 4 billion a year!!!!! quite an investment.

All these mismanaged businesses are lining up at the trough. GM was making $15k each for their high end trucks and paying $75 per hour w/benefits for line workers. Any thing wrong with this picture? Now with a Democratic Administration God knows everyones getting a bailout and 15 million illegals are going to get health care.

I think that it is all the fault of the inert American public. They have let their democracy go in the hands of the lobbyists and special interest groups who have bought our dishonest leaders. The American public demonstrates in millions to support gay rights and abortion, but do not demand transparancy and accountability from our leaders and corporate executives.

What happened to $300 billion that was given to Paulson last month? What happened to the idea of government watching the new spending by the financial institutions? How come the bank executives are hoarding the rescue money? Why was Lehman Brothers rescued and Bear Sterns was not? Who knows exactly what to do?

Coming to the rescue of Detroit, let the market decide the fate. I am surprised that no one is out on the street demanding justice.

No

It is patriotic to save Detroit and preserve American automotive brands and tradition.

If these companies fail, it will present a difficult situation if the county would be forced into another world war and to mobilize its industry. Once these assets are gone, they cannot be replaced.

People against preserving the Big Three are being selfish and unpatriotic. Being a good citizen requires sacrifice and this is a worthy cause.

Everybody is bashing the executives, the unions have contributed greatly to the woes of the auto industry. It appears that if there is a bailout it should contain a provision that provides a temporary pay cut, 20% for executives, 10% for salaried and union workers, which would remain in place until the bailout is paid back. That should provide incentive to work together and return to profitability.

Are you kidding? The American Free enterprise system was set up for a reason! It’s the same reason that we don’t keep changing the constitution! It’s a basic premise that work if we allow it. The capitalist system has winners and LOSERS!

why not bailout everyone while we’re at it I could use around $700,000.00
that would take care of my mortgage my autos and credit cards and by the way the autos are BMW who would buy that detroit crap just so it could break down.

Give a bailout ONLY with STRONG controls:

Yes they should. The government bailed out the financial indsutry and the airline industry after 9/11. Neither one of those industries create as many jobs as the automotive industry. For those people who say they should not bailout the auto indsutry I have one question for you. Do you work in the financial industry and or the airline industry? I personally don’t work in any of those industries.

When over 3 million Americans lose their jobs in related and UNREALTED industries due to the failure of the US auto industries, maybe then people will realize that,like it or not, the US economy depends on it’s success. We all can’t sit behind desks and push papers.

NO BAILOUTS OF DETROIT!!! All in all it was thier own fault in allowing the UAW to raid their balance sheets. The average UAW worker makes $70 an hour with benefits and pay. Why should we be worried about the lost jobs? The UAW clowns are always the ones on strike when something does not go their way! There are PLENTY of americans that would be happy to have a job their for far less than what they make.

I say that the UAW shoudl give back to the people that has kept them in their high paying jobs, and put up with their strikes in the past. If they are committed to keeping their jobs, then they can reduce their pay by 25% on a temp basis. The airlines have done it, and there is no reason the auto companies cannot do it either…..OH THAT’S RIGHT…….The car companies cannot do that cause the UAW will strike again! Suck it up, take a cut, if you want to keep your cushy UAW jobs.

To the car companies: I have and will nto buy a GM product ever again! Why, their quality has been substandard for years now! This brings us back to………WHY do the UAW workers get a raise no matter what kind of crap they turn out? I know my job and raises are based on performance….now THERE is a concept!!!

No! American auto producers were in
trouble way before economic crisis
hit. They were losingb ground to foriegn competion year after year. Learn how to produce a reliable vehicle!

NO BAILOUTS!
STOP THE MADNESS!
SAKE WASHINGTON and overthrow the corrupt government!!

No – I understand the Gov’t has already provided bailout money to a number of Industries, but it must stop somewhere. Businesses will never adjust their business models for long term success if they know that the U.S. Gov’t will always be there to bail them out.

The Big 3 auto makers have been operating under a seriously risky and flawed business model for ages. They are finally reaping what they sowed. Sorry to say it, but they need to lay in the beds they made.

I think the Goverment shouldn’t be responsible for bailing out Detroit. The foreign car makers are doing a bit better because they manufactor quality automobiles. America needs to learn from there competitors. BUILD BETTER CARS and lets get the American consumer back.

Let them file for bankruptcy then
help in reorganize but get out from
the stupid labor contracts they have
and get competitive.

The automotive industry uses “buyouts” instead of laying off their not needed workers, both hourly and salary. When I get layed off I get an unemployement check.
So the taxpayers now end up paying for the buyouts. Stop your ways and I might show sympathy.

If a bailout doesn’t go though for auto industry then more jobs will be lost and the little suppliers who feed off of the industry such as; tool shops, machine shops, and even office supply companies will go under or cut jobs. The cycle will continue, the industry supports far to many family incomes to just let it go the course. The banks are still not lending, people are not spending and this all consuming monster will not stop until it runs out of food. Letting a large automaker go under is like a thanksgiven dinner with all the trimmings

First, I don’t hate Detroit. I am opposed to a bail out that would encourage automakers to continue business as is. I don’t think taxpayer money should be used to promote the glut of new vehicles on the market (ala housing). As for helping the automakers with pension payments, that seems a little unfair given that many taxpayers have lost billions of retirement savings in this market. Why should automakers be immune from that?

I do not thnk that we should bay for their mistakes. There are other auto industries in the US and they are not asking for a handout, maybe its because they pay a fair wage and not a very expensive wage to their workers. They should of been more in tuned with what was going on in the world and markets instead of worry how to spend all their cash. They got caught with their hand in the cookie jar.

Should automakes get a bailout???
Should the banks have gotten a bailout???

There are alot of people hurting with the economy in shandles and it would’nt be fair if other major corporations in the US don’t recieve help.

But if these corporations get help are they gonna keep people employed or are the employees gonna be laid off???

What about the average person, I would love a bailout. Am I entitle to part of the $700 billion dollar plan to get america back on it’s feet? I doubt it.

Bottom line, the governemt got themselves in a prediciment when they bailed out the banks and now you gonna see more and more corporations asking for help. I think the goverment should help out those who need it.

Government should help everyone a little not some alot.

No, they should not be given a bailout of any kind.

The Big 3 have been poorly run for years. If they get a bailout now, they will not change how they do business, which only prolong their inevitable downfall. They are going to go bankrupt sooner or later. Let them go down now, so that they can start their recovery & re-oganization sooner. Else, we have to give them another handout in a year or two.

No one ever gave airlines a bailout, but they managed to get thru their bankruptcies.

1. Unions – Why should someone get $60 and hour including benefits when they are unskilled labor.
2. They do not innovate – Detroit has been behind the ball for quite sometime, using their lobbyists in Washington.
3. The big three are really not American cars – Looking at the overall parts content and where they are assembled, a Honda or Toyota has a better change of being American.

I never liked American cars, ugly interiors..

Detroit needs a handout, okay, but I want clean burning and high milage cars, and cars that take advantage of “green” which is good for the environment.
Lets be a nation that leads in innovation, not wait for things to happen.

Get rid of the Unions. Make jobs competitive. This will cut costs and increase productivity. I know this is easier said then done, but, putting up gov. money for inefficient, poorly managed union institutions that belong in the last century is a tough one….

$73 an hour to slap parts together? Forget it.
Good riddance.

http://seekingalpha.com/article/105061-should-we-really-bail-out-the-big-three-automakers-with-73-20-per-hour-labor

Giving America’s automakers a bailout is a complete joke. They already make an inferior product and they still can’t make a profit despite the sales volume that they produce.

What good will a bailout do? It would be like giving a loan to a drug addict…except Detroit loses money without getting a high (unless you’re an executive at one of the companies).

No they shouldn’t bail out automakers it just makes the situation worse. Let them bankrupt get rid of their outrageous overhead and let someone buy the assets who can turn a profit. Whatever happened to the free market and capitalism?

They sell a non-competative product therefore a bailout will not corret the problem.

When you build an expensive and undesirable product, the outcome should be pretty obvious. The UAW and GM management have no solutions other than doing more of the same. They took advantage of everything when the going was good and never planned for when the day the music stopped. Maybe they didn’t think they have to because of the safety net- us the taxpayer.

If the Ameican auto industry is allowed to fail, this country will slide into a depression worse than the 1929 version, our national security will be compromised, and millions more will become homeless and without medical insurance. I would say 25 or even 50 billion would be a small price to loan considering the consequences and the fact we have already thrown 700 billion down the hole to banks and financials and nothing has changed as a result. At least this money will help millions of hard working Americans and their families to maintain their way of life. This industry is the backbone of American Manufacturing. Without them how would WWII have turned out? Even today, their factories have been designed and constructed to convert to building war equipment should the need ever arise. This is more than an economic issue, it is also a national security issue.

I think Congress should bailout the US automakers because if GM, Ford and Chyrsler go under countless jobs will be lost.

No, If the Auto Industry gets a bailout so should every small business in the country that was impacted by the credit cruch. My guess is that more jobs were lost from small businesses closing than will be lsot in the autoi industy. Which industry will be next to want a bailout?

YES YES YES, the auto industry should get the bail out. It’s not their fault that bankers, realators and wall street started this meltdown. Henry Ford made the first car. It would be totally wrong to get rid of that company in any instance except if they were to commit fraud. Ford is like Martin Luther King. Owning a car was once a DREAM!!!

Unions hold the company hostage for sweet benefit programs.

Management gets lots of bonuses and perks while creating a poor business plan that produces vehicle with a high cost of owning.

They now expect the government to give a handout? I don’t see Honda and Toyota stuggling as much.

Let them go bankrupt and reorganize.

Why not bail them out? We have the insurance giant AIG.What have they to do with the economy? The big three
employees millions of people directly or indirectly.

As if it wasn’t bad enough the companies I pay hundreds a month in mortgage interest to now have my bailout tax dollars. Now, the companies I supported with a purchase of their product (car) want a piece of my taxes, too. Doom forthcoming.

Detroit should have been proactive in “selling” the customers high MPG cars and not promoted high dollar fast cars that got terrible mileage if they couldn’t quickly switch the assembly line when the bubble would break, which all the rest of us knew would happen, why didn’t they?

Why should the U.S. taxpayers help to continue a broken business model? the big three have continued to lose market share in the last 30 years, and have done nothing to strategically position themselves to be competitive. Giving them funds to promote their inept ability to stay competitive is a slap to the face of the American taxpayer. I understand that it will hurt not just thousands, but millions of workers, but the point of capitalism is survival of the fittest, which the last time I checked, was the founding prinicple of this great nation. It’s time for the American people to say mediocrity is not O.K. and demand excellence, which a handout to the Big 3 would not accomplish.

The failing auto market is a direct result from high labor costs due to union activities. I feel we should let the indrustry go bankrupt, renegotiate with the unions to creat more reasonable terms, and result in a more competitive market.

No BAILOUT for these bloated pigs with their ridiculous salaries, rules and pensions. Let them go, we don’t need them.

NO ONE SHOULD GET A BAIL-OUT!!!!!

These people are THIEVES!!!

CONGRESS, PRESIDENT AND HIS CABINET, BANKS, BROKERS, HOMEOWNERS, AUTO, ETC.

They cannot keep their hands out of the “kitty”. It is always what’s in it for them. KNOW THAT!!!

I wailed about the “$700 Billion” then $850 Billion. Now, idiot thief Paulson is flip-flopping.

HELLO…

NO BAILOUTS!

Absolutely NOT. For too many years, Detroit has concentrated on high profit, low tech and unrefined vehicles that guzzle gas. Forget about gas consumption. Let’s concentrate on chrome, gold accents, big engines and nav systems.

It’s not the fault of the workers, but the leadership in Detroit. Why should the tax payers pony up for lackluster R&D being aimed at backup sensors and heated steering wheels in a new Escalade while Honda, Toyota and others have been investing in long lasting, high performance, safe and economical vehicles?

I don’t think Detroit should get bailed out. The American’s car brand is on shaky ground, no matter what industry. With an expected drop of 4-million new vehicle sales next year, the fallout is coming whether we put a bandaid on the gushing artery of not. We already have a nationalized banking system, now what?

THE PEOPLE’S CAR?

A recession? Are you kidding, or trying to convince yourself?

This is a non-stop ride heading straight for full-fledged depression. It’ll make the Great Depression look like a cake walk in comparison.

Hold on tight Pa, it’s gonna be a bumpy ride!

No bail out for auto companies.
Greedy managerment and lavish union
benefits got us here. Do not want
goverment to be part on this pardership. Let the roll of the dice
fall where they may.

I don’t believe we should prop us these terribly mismanaged businesses. Why do we continue to think that just because business is big, then we need to save them. Sometimes, these companies get too big, and too mismanaged to go on. Let them go out of business. If will hurt in the short run, but it will allow other car makers to emerge, that operate under a different business model. These new companies would eventually give more stable jobs to the out of work employees.

As a GM dealer for over 15 years now, GM needs to restructure it’s labor costs, and their upper management. The bailout from the government will be nothing more than a band-aid and in 12 months we will be right back to square one. GM needs to listen more to it’s dealers, we know what the consumer wants and needs, not some upper management who has never set foot ina dealership. LaNeve and Wagoner need to get their heads out of the sand and wake up, oh yeah, and call Congress on your own guys. When the dealers needed GM they were no where to be found. Good luck to us all, as we are all in it together

Common sense dictates that we must stop rewarding failure.
It is a well known fact that the US auto industry has been grossly mismanaged for the past 40+ years. To reward this behavior would be to destroy corporate incentive and responsibility.
Obviously, the unions bear as much responsibility as any party in the auto industry’s failure. They, and their members, should also NOT be financially rewarded for driving US manufacturing into the ground. What will stop them from donig this to the next industry they get ahold of?

save my job as a supplier to gm

No, the Big 3 are paying people $50 per hour to make cars people do not want. They should be looking at Toyota, Nissan, Honda etc to see what they are doing.

They are business entities and should be treated as such. They make crappy product that’s the reason they are down. Why am I supposed to spend my money on them? Where do we stop? Why not just give money away? What happened to responsibility? This country is becoming more and more a neo-socialist heaven each day!

Yes Please help us in michigan. Failure of an ICONIC auto company will impact the entire country.

Michigan has been dying for quite sometime. HELP US!!!!

Why should we give billions to the most mismanaged and over paid employees, in the Auto Industry!

I say screw them!

Since both the “energy crisis” and the abrupt increase in required fuel economy were caused by failures of government, I think the case for outright government compensation to the automakers is strong. No bailout at all — a simple $50 billion payment for damages inflicted by the government.

We should let the big 3 fail so they can break the union contracts. That is why they cannot compete with Japan.

No they shouldn’t receive a bail out. The problems they are facing right now are of their own making. Honda and Toyota have been making fuel efficient cars part of their core for decades now, hence they are profitable. GM should have seen the fuel crisis coming. I feel very bad for the families that will be affected by GM, Ford, or Chrysler going out of business. But giving them some more money (that we dont have to begin with) is not going to change how they do business. They could use that money to give to the employees that are going to lose their jobs instead of bolstering the books of a dying giant. That would be a better way to help the people who may lose their jobs. We give GM billions of dollars, all they will do is lay of some more people, close some more plants. is that any different than if they were to go bottom up on their own? They need to realize that the American people don’t get the treatment they get, so why should we spend our money to help them? The gov’t. already messed up the 700 billion that was spend to help banks, who knows how the car company’s will use this.

Sure – the taxpayers should prop up GM and all other failing companies; it’s called Communism, and we know what a wonderful economic system that is.

$700 Billion dollars. WOW that means every man, woman and child (303,824,650 People) in the US just gave $230 to bail out the financial world. How much are we going to see? $0.00 dollars. Why you may ask, because it is for the use of the banks to loan out. Yet none of the banks are lending to people. Only to large corporations. Now some may argue that this is needed to help create jobs and help the flow of money. OK lets look at that for a moment. When I had my own business just two years ago and got sucked down by this meltdown NO ONE help me. I lost everything, and many of my 38 employees lost most of their stuff too. So I ask you who is getting the money. The executives of these companies. I never made 10 – 30 million a year to run a business. How in the hell can these people? They just got their pay checks signed by us the American people. So the next time our government raises our taxes because of the deficit the only people we can blame is ourselves. We put these geniuses in office and now we are paying for it. But I worn you, this is not over by a long shot. Over the next few years you are going to see all our taxes go up. Small business taxes are going to go through the roof. Personal taxes are going up to. You will see a huge taxes increase over the next few years. Taxes on goods are going to raise, you will even see tax on food soon.

Plus I will bet everything I have left in this world ($3.06), that congress will give themselves a raise in the next three years. And it will be above the national average. So I say let them fail. Not just because I did. I think that if we let these companies fall, you will see a new generation of companies that will grow and they will have a strong base to continue the help people diversify. Don’t bail out the dying companies. Use the money to invest in new companies that can create real jobs to help our economy grow. If our government gave just $50,000 to help new or small companies grow that would help create 14 Million new companies that would employ people. Around 85% of all businesses in the US are small businesses. Now lets just say that 40% of these 14 Million businesses where able to make it. That would be 5.6 Millions companies. Now lets say these companies employed just 5 people in each one. That would be 28 Million jobs created, and the end of unemployment in the US. Now I’m just trying to point out that the money should go to the entrepreneurs and not to the large conglomerates and banks.

Lets take back the power to make decision for our selves and in the next few elections remember that 85% of the politicians that are up for reelection have been in office over 6 years. Time for a real change. Lets get new blood in there and lets get people that truly want to make a difference and not a pay check.

I dont think the automakers should be bailed out. I think that they should look into other ways of surving this economy just like the rest of us(citizens and corporations) are. I work for a large company that will not be bailed out by the govt. Luckily right now the company I work for is in good shape and is adapting and this is my point. The big 3 should have started adapting 15 to 20yrs ago. If the company I work for had kept the same business practices that had kept them afloat 15 to 20 years ago I would probably be working for our competitor and this company would be part of history.

I am a GM employee living in Southern California. I believe Americans feel that the Domestic Auto Companies became arrogant and assumptive. The attitudes at GM dealerships were not focused on growing the business only gauging as much gross profit as they could from the stream of customers that kept coming through the door. Gm was more focused on accounting than image and customers. Due to high warranty in the 80’s and early 90’s the dealership service department did not need to provide customer service because the largest customer was the manufacturer through warranty. Service departments evolved to process warranty repairs through specialization and bankers hours instead of handling customer concerns.

There have been dramatic changes in the last 20 years for all of the big three. Even the imports in California have evolved. However the perception that a domestic vehicle is of poorer quality and once you own one you are treated at a lower level than an import still exists. The truth is a domestic used vehicle is the best buy a person can make. Due to lower resale value the used vehicle is a better purchase than a comparable import. Domestic parts are less expensive and the quality is so close that it depends far more on which model you buy than which brand. It all comes back to image.

What we need is coolness. Harley Davidson was assisted by a federal bailout in the 80’s. The government imposed an import tariff and was given the opportunity to rebrand itself. The big three need an opportunity to do the same. They need to have an honest discussion with the Accord, Camry and Titan customers. We would all like to know why they chose a product that is of equal and some cases even lower quality than the domestic counterparts.

Has the lack of loyalty to the American customer in the past earned GM the punishment of permanent and resounding failure. If so, isn’t this a failure that reflects on all of us not just a few deserving souls in Detroit. The facts show if we lose just one domestic car company as many as 2.5 million jobs will disappear and not be replaced by an import rival. OK, if a 1 in 12 chance that your job will go away is not enough to get your attention how about national security? During WWII GM did not build one car. A 1943 Chevy does not exist because they closed plants for auto production and manufactured planes and tanks during the war. A 1941 Nissan is what bombed Pearl Harbor. A 1944 Buick flew over Europe and freed millions from Nazi tyranny, yet I have seen veteran license plates on Nissan Maximas. If GM is guilty of disloyalty in years past; than the average consumer must take responsibility for today.

GM is not Detroit’s brand it is America’s brand. It is a value and history we all share a responsibility for. Please take some time and do a fair comparison when shopping around for vehicles. You will be surprised. GM is not the same company or product we were in 1988. With your help we can be greater than were ever were all I ask is that you don’t give up on Detroit and don’t give up on the capacity for all of America to build the greatest personal transportation in the world.