Schwarzenegger Sides With Obama on Automakers' Bailout

Sure; and is Schwarzenegger willing to cut his anual income to what those same automakers get (including benefits). He might find that life gets a little difficult with only that income.

Sure; and is Schwarzenegger willing to cut his anual income to what those same automakers union members get (including benefits). He might find that life gets a little difficult with only that income.

George, Why does you round table always have one liberal Republican, three far-left dems and no independents. The bearded kook this week tried to correct George Will's opinion on the 1930s. Will was right. The elitest FDR gang pissed around by favoring friends and buying votes for 1936. I lived through it. The NY Times fresk is full of loads of crap. Just lolk at his deceptive eyes. He is aanother example of the trash that trys to influence the masses.

where is the green room?

George,i heard Arnie mention the auto
workers benefits being high.How about the CEO & his salary & benefits-i'm sure they are more than any world competitor ! I remember Daimler's CEO was bad 1 million and was SHOCKED at
the top salaries at Chrysler ! How about these Ceo's are paid to COMPETE
not all the eggs in one basket-SUV,Trucks,crossover,gas guzzler !
Problem is they IGNORE the CUSTOMER !
I remember as a kid,we were "a ford guy-chevy guy-dodge guy".Then the V.BEETLE
landed,a better built car for a LOT LESS
MONEY,well GM - FORD - Chrysler did not
pay attention ! We taught JAPAN to make better products-the rest of the world followed -While we(workers)were forced
to build CHEAPER at higher prices ! GEE
& now none of our LEADER or CEO's can
figure WHAT HAPPENED ! I grew up in the 50's only high school graduate-no MBA
but i have seen this coming for 30 years.I retired as an INSPECTOR (joke)
for a company NOW in MEXICO !!!!

In your discussion of the auto bailout, no one is focusing in on the most important issue; namely, elimination of the gasoline engine by our automobile manufacturers. Coupled with our dependence on foreign oil, our reliance on the gasoline engine assures that we will continue to decline as both a society and economic entity. We must continue our automobile industry for these reasons: one: it is the engine for our economy; two: If we are to defend ourselves in times of war, we need the production capability these plants would provide. Any bailout must insist that we move off the gasoline engine platform and instead rely on natural gas, hydrogen and electric fuel cell power plants. Our nations future depends on it.

Other countries have national healthcare. Of course their companies pay out less for benefits. We have an empoyer based healthcare system.

It seems that the CA governor embraces the same ideals as the President elect.
I like his concept of doing whats best for the people. Gov Schwarzeneger would make a great cabinet choice.

Arnie is right they will never deal with the problems if we don't get some concessions from the labor unions. All retirements should be looked at We have people retireing at unbelievably young ages and living far to long to sustain these benefits and the American taxpayers are breaking under the burden of these liabilities. Look at teachers,firemen,policemen,army personnel,postal employees,federal state and local officials etc. the list goes on and on we need to raise the age where they receive these benefits

This country was built and made stronger by poor immigrants that came in waves, in different time periods, who (all) worked hard, took pride in their workmanship, and saved some of their earnings for the future. No moaning and no whining. After four generations, our workers have lost pride in what they do, their bellies got bloated so that they could not even bend or lift a few pounds of weight, they want to work less but would like to get top dollars. Even worse, those that were unhappy in making top dollars for the low quality of work they do in the industry, they started their own small businesses, robbed the public left and right and blind, and continue to do so to gather a second house, a third car, and a boat, and then watch TV endlessly. It is time for this country to reform. Remove the word "un" for skilled hands from foreign countries, make them "documented" for no more than ten (10) years at the end of which they should leave this country with no questions asked. In the first year of their stay they should get just 60% of what american worker makes, then progressively they can reach on par with american worker in five years. Under no circumstance, such foreign labor could stay in this country beyond the ten year period. If they marry local women, they can take them also with them to their country of origin. Same with regard to any babys they produce in this country. In the mean time this country should abolish all welfare schemes individuals and subsidies to inefficient companies. No one should make more than six (6) times of what the lowest worker is paid, For example, if the lowest paid worker gets $30,000 per year, the highest paid should get no more than $180,000. Any excess earnings of the companies should go to pay off the debt of this country. The goal should be to make this country debt free within twenty (20) years.

I thought Arnie just got back from DC asking them for BILLIONS to help out his state. Seems to me that everyone is heading up to Washington looking for a handout. Schwarzenegger's opinion is meaningless. This man can't even run his own state people!! Next!!! NO BAILOUTS FOR THE OBSOLETE US AUTOMAKERS!! LET THEM REORGANIZE IN BANKRUPTCY AND GIVE THE CORRUPT CEO'S UNIONS A DOSE OF REALITY FOR A CHANGE!!!

You have millionaires like george will stating that auto workers are paid too much. That is what is wrong with America now days. It is being controlled by wealthy elitist people.

Dear George,

How can Gov. Arnold Schwarzenegger be against Gay marriage AND be for the CalEEfornia Supreme Court overturning the people's vote on Prop 8?

Please let me know.

JM

We now see where Nancy and Harry are attempting to pay off the UAW with a nice bail out from the Federal government. Where is all the outrage that same bailout received when it was a Wall St. firm instead? Where's the left at now? A current U.S. autoworker gets about $140,000 in total compensation while their Japanese counterparts only receive about $96,000. A speaker on CNBC suggested it would be better to let the big 3 re-organize under chapter 11 so that they can break all the poor union contracts they negotiated over the years. An auto industry with 33 percent fewer employees and 33 percent less pay should be pretty competitive. All those folks who get laid off will be okay because St. Obama will be giving them a nice fat tax cut as soon as he can round up enough rich people to tax.

Realistic the pay packages of both union and management auto workers is and has been out of whack for a long time. Declining industrys that cannot show profit year in and year out should not keep raising everyone's wages. It makes no sense. The legacy costs to profits were imcompetently projected so the math just doesn't add up. Didn't they use any actuarys and cost accountants like the insurance industry? All americans pensions have been either discontinued or downsized as there has been a restructuring of where the money goes which is now to upper management and stockholders which include some big institutions, endowments, and state pension plans. The worker has lost out on this front, but now to survive the companies still need to be viable. If the ceo's first responsibility is to work for stockholders interests it will ultimately loot the company. The problem is a structural one. all the financial engineering has gone into generating quarterly bottom line profits, not into long term sustainability and organic growth. The problem is deeper than where the money goes, its how the money goes. We have papered ourselves into a small room in the attic that cannot sustain all interests. We actually have to rethink the American business model, once again. I think housing value also went to the institutions and their investor that package mortgages for the most part to generate returns for them, and like most finanical booms the common man got to participate in it for a while till he didn't and then got trounced. The truth is there is no way to pay for pensions and health costs for people who retire at 65 and live to 95 unless you put a whole lot more in, both the company and the worker, literally saving 33 percent of their gross income, and that won't deal with protecting against market risks. So they can still lose their money. What I am saying, is a person needs to save about half their gross paycheck to insure sufficient funds for retirement in a low growth environment and that will decrease consumer spending big time and slow the economy in general. This is what Japanese do, they save a lot of their paycheck as they are simply being more realistic and the truth is they have a very modest, even poor retirement. Basically, whatever you save in your 401k will over 20 years, if they are good years, double and you lose up to half of that in taxes upon withdrawl. So you really only grow your money by a quarter beyond your savings in what you get to spend which questionably keeps up with inflation. Its not a good deal, unless your company puts in a substantial match. Short of putting a match in, its just an inflation adjusted tax deferral vehicle. And this is what our government allowed corporations to give out to the American worker as a substitute for retirement. A lot of company executives and big investors made a ton of money off of this for their own personal fortunes because of the spike in earnings during the changeover. That is over now but the primary problem of how to address workers retirement is still very much with us, with the exception that everyone is a little older with even less time to earn and save what they will surely need.

The foreign cars are BETTER. Costs/Price has nothing to do with it, because I don't view American cars as being on par with Foreign cars.

I know somebody will be tempted to talk about/ "stats" and quality awards, etc. But cars are mostly about "looks/design" because they are an extension of the buyer. In addition to exterior looks, Foreign cars have better interior in terms of gauges and controls.

So until American Car Manufacturers get with the program, it will be a struggle for them.

Again, having a cheaper costs has less to do with their issues than eye catching designs and engine innovations

What ever happened to letting industries succeed or fail on their own? If we bail out the auto industry, where does it end? And what incentive does ANY industry, state or local government have to be managed correctly, if the Feds are just going to come in and bail them out? And just WHERE do they think the Feds are going to get the money for all of these bailouts? I am so sick of people not taking responsibility for themselves.

George,

I had enough ur biased reports. u only report something that favors one (Obama) party. I don't think general population support this bailout. The bottom line should be: this is a good time to get ride off failed co. and rebuild usa. It would be painful for a short while, but we all should see the long run. This is a great country, and will remain the strongest one for next decade. But biased reports from mainstream media will not help her at all.

It is amazing to listen to Republicans talk about the workers giving up benefits that cost the car companies. He compares the additional cost built into a US made car to a European made car. ALL EUROPEAN CAR MAKERS HAVE GOVERNMENT FUNDED HEALTH CARE that the USA CAR COMPANIES AREE PAYING FOR. ARE THE REPUBLICANS SAYING WE NEED UNIVERSAL HEALTH CARE!!

this mornings interview with arnold s. was really very good and enjoyable to watch without all the usual politician spin. He seems to have a better grasp of the politics than our other politicians as he knew the confusing array of issue's voted on and set aside and revoted on only to probably be set aside again. I am not so sure the supreme court will set aside prop 8 as its more conservative make will work against that. But otherwise he was spot on. Is it my imgaination or is he much more intelligent and articulate than most of the other politico's you interview?

Good to see ABC get a good interview and allow the Governor to speak without interruption. He definitely showed an excellent grasp of the situation and its unfortunate that Washington lacks similar common sense. There simply are too many people who turned a blind eye to what was going on around them and both Washington and Wall Street are not getting sufficiently aggressive to prevent this from repeating itself. The scariest thing is that every few days, there's a further revelation of financial controls being relinquished in the past 10 years, which helped this catastrophe become even more catastrophic. In reading the latest edition of Bloomberg Markets, there are further revelations of financial controls that SEC head Christopher Cox removed and further imperilled the USA. And even though McCain raised the issue briefly, it seems to have largely disappeared. We need more politicians to be straight talkers like Schwarzenegger and start cleaning up the situation seriously. By Neufeld at http://www.leasinglawyer.ca.

Tineau - Where do you think the money comes from for the government funded healthcare? From the businesses & citizens in the form of taxes. So your ideas don't hold water.

to walkere/2000 I dont think Arnold takes a gov salary, or donates it at least and any other he makes from his own ingenuity and talent unlike most rebot auto workers who have others negotiate their life for them.

I dont think Arnold takes a gov salary,I heard he donates it and any other he makes from his own ingenuity and talent unlike most rebot auto workers who have no mind and have to have others negotiate their life for them.

The UAW has already made tons of concessions. Auto workers have been screwed for the last 3 decades. The union has already taken a lot of the cost of health care for current employees off GM's hands and agreed to pay cuts for a lot of the workers. How much more can they give up? I don't think the unions should be asked to give up anything else until the CEO pay is cut dramatically.