Bail Out Auto Industry?

I'm all for letting Exxon, Mobil....etc bailing them out.. they made more money than God over the last few years.

 

finally it looks like i can agree with your stupid ass. Even though i hate wal mart i can't argue with anything you've said

 

I say yes.. but.. they should wait till after payday so I can buy like 500 Shares of GM at like $2 a share.. and then sell it a week later when it jumps back up to like $10 a share.

 

I totaly agree that the oil companies should bail them out. I understand that that if they go under it will hurt all of us in the long run. More people on unemployment. I heard that for every one person that gets laid off 10 more are also affected by that. And if we do bail them out it should have some strings attached. Like all of the Big wigs should have to resign first. No sense in giving them more money to piss away. Just throwing money at the problem doesnt mean its going to be spent wisely. Its just like AIG. They were bailed out, and the top guys took a $400,000 spa retreat. What a slap in the face of us tax payers. I am American as they come. But I spend my money wisely. And I cant spend 30 or 40 grand on a truck or car and wonder if its going to last past 5 or even 10 years. Within the last two years my family including in-laws have purchased 6 new Toyota's. Thats because we know the quality of these auto's. If the big 3 want to survive in this day and age they should make a car or truck that I would want to buy and not just because its american made. That idea only goes so far in this economy.

 

I would think that it would be in their best interest to support the companies that consume the highest percentage of fuel by group of vehicles.

 

Only if toyota is in trouble! :-d

 

I watched this on TV the other day and I must say I agree with the decision that was made. Obviously they can't be in too uch trouble when all three CEO's show up in private Leer Jets with Tin cups in hand. If they did come up with an efficiant cost cutting plan and demonstrated where the money was going to be delegated and how it was going to be used to help the company and economy (not just pad the CEO's wallet and put stripper poles on the leer jets), then they truly must need the money.

 

Just because times are tough doesn't mean you can role in style. I give these three props for the balls to show up like rock stars and then ask for money. Not a smart way to win somebody over but hey they did run their companys into the ground. How smart can they be???

 

I can sorta understand the corporate policy of not putting a CEO on a public flight due to the risk involved since most corporations do that. However, I fail to understand why the policy hasn't been changed, or cheaper means of safe transportation weren't implemented before going to beg for money. Then again, I suppose we could just chaulk it up to stupidity and arrogance.

 

But I don’t understand how they could take a Lexus from the air port to Capitol Hill? Don't these bone heads have any shame to get into a competitors car. Where’s the loyalty? They sure beg in style.

 

Just got this letter from the President of SEMA:

Dear SEMA Member:

The SEMA Board of Directors recently met to discuss the financial challenges being faced by the Detroit automakers. After careful consideration, the Board is now urging SEMA members to contact their members of Congress to urge action in seeking a solution to these challenges.

The U.S. auto industry is experiencing an unprecedented economic decline. Access to credit markets has been difficult for the automakers while vehicle sales have plummeted. Delays by Congress in addressing the immediate challenges confronting the automakers will have significant consequences for many businesses which comprise the U.S automotive industry.

Although SEMA member companies may differ in their views of Congressional involvement in this matter, there can be no dispute that delay in reaching a solution at this point will cause additional setbacks. The reality today is resolution of this issue demands quick action by our elected officials. Members of Congress need to hear this message from their constituents. Please review the attached Legislative Action Alert. It offers a sample letter that can be personalized and sent to your Member of Congress.

Thank you for your consideration.

Jim Cozzie Chris Kersting
SEMA Chairman SEMA President/CEO

​

Auto Industry Crisis​

We urge SEMA members to contact the U.S Congress regarding the need for federal lawmakers to address the economic instability within the auto industry. Below is a sample message which can be personalized.
Sample Message from SEMA Members
• I am writing today as one of the thousands of small automotive companies in this country, as an employer and contributor to the economy in your district. I am extremely concerned about the future of the Detroit automakers and the implications for my business, the U.S. economy and for the many who make their living in the automotive industry.
• I am asking you, as my elected representative in Congress, to remain focused on the problems these companies are confronting and to work urgently on the matter until it is resolved. There is the opportunity for our best minds in government to help shape a solution. Recently, Congress set the issue aside temporarily. Delay is not the answer. I am asking you to stay engaged until a solution has been worked out. Jobs in my business, in your district and in automotive businesses across the country are at stake.
• Thank you for your attention to this matter of critical importance.

Click Here to Contact Your Members of Congress​

 

I think that the auto unions have lost their way. I think that other unions still have a place in our economy. However, unions such as UAW are basically becoming corporations within corporations. UAW is draining money that should go to the workers and the company itself.

I voted NO. This needs to be worked out by these companies. If I was a worker at a GM/Ford/Chrysler plant right now, I would be looking for a new job in a new a completely new career path. I would want to make sure that when the supposed "3 million" lay-offs occur, that my family was protected from it.

BTW - the board members, CEOs, managers, and workers should have seen this coming. The rest of the United States has seen the writing on the wall for months (if not years) now.

 

Ok i'll actually agree with you there. the auto unions are the main problem. i dont agree with unions in general but the auto unions are the one that have gotten way out of hand

 

very very good point the most excellent suggestion that i have read on this post. who's to say that the big three will just do whatever in the hell the want to with the bail out money just like the finacial market is starting to do with their's they've barely dipped their hand in the kitty and are already changing the rules for it. let the big three figure it out on their own i know that it sounds pricky but hey that's the way it has to be. if it does go through where does it stop. who goes running to washington with their hand held out.

 

If they bail out these huge companies, are they going to bail out all the small ones that have gone under in recent times? How about the forestry workers(Canada) that havn't worked since summer because of declines in housing? Theres alot of business out there that are feeling the crunch, are they going to give them any money?

 

Yeah, I just wanted to clarify. So many people are getting upset about the attacks on the unions, that I figured I would clarify that we are talking about auto unions. Everything I have read says that they have out-lived their usefulness. Besides, in this day and age, if you are being treated unfairly at your job there are many other avenues that can yield you a resolution.

 

Received a response from one of my congressional delegates (VT only has 3 )

"Thank you for contacting me about federal loans for struggling automobile manufacturers. I appreciate having the benefit of your views.

The automobile industry is a vital component of the American economy. While it is important that it remain viable, I am skeptical that Congress can legislate away years of industry mismanagement in one rescue package. However, I am concerned about the millions of Americans whose lives are directly connected to the auto industry and the impact on our economy of the potential loss of a significant number of manufacturing jobs.

For far too long, American car manufacturers have failed to take proactive steps to secure their futures. They have aggressively resisted improving fuel efficiency standards and failed to respond to consumer demands for more environmentally friendly vehicles. As Congress considers whether to provide emergency loans, industry executives must produce detailed plans by December 2 on how government loans would be used and how the industry will transform itself to ensure its long term survival.

It is essential that any federal support be used not to forestall the inevitable collapse of these companies, but rather to transform and sustain an improved auto industry. I look forward to reviewing their plans and will keep your thoughts in mind as Congress considers this important issue.

Please continue to be in touch, and I hope to see you in Vermont soon."

 

^Good to see others using their voices with their elected officials. If a week goes by in which I haven't sent an email to one of mine, it means I'm either on vacation or dead.

I will NEVER support any government bailout of private industry. Failure is the risk of a free market economy but it can also be a good thing. Think of the tree that's still alive but needs the dead branches trimmed. Free markets allow unlimited profit and expansion but there's also risk and I wouldn't want it any other way.

I ask you this: What does government do WELL? Would you want the same government controlling private business or the healthcare system that "handled" the Katrina mess?

Unions, I'll simply say this: I do not like them and they have no place in American society today.

 

Take 5 minutes & read this.....

http://usnews.rankingsandreviews.com/cars-trucks/daily-news/081204-GM-CEO-Drives-a-Chevy-Volt-to-Washington-Sort-Of/