George's Bottom Line

I'm having some trouble with this whole bailout. It sounds like a repeat performance of the $710 billion ($850 in actuality). At that time if we didn't sign the 3 page plan the world would end, the sky would fall and on and on. Two weeks later when the bill finally passed the world was still here and the sky did not fall. Last month auto makers said the same thing. We may have 2 weeks left was heard from the 3 auto makers. Of course 2 weeks have gone by and they are still there. My heart says give them money, don't like one of the last industries in the US fail but my gut says even if they get the money people will still lose their jobs. After all, home owners were supposed to get help from the $750 and Paulson says he never promised any such thing. Are the 3 CEO's from the big 3 going to get the money and say they never promised not to lay people off?

American cars sucked 26 years ago when I was in high school and they still suck. Every time I buy American they end up kicking me in the butt because of all the problems. The govt. shouldn't prop up crapy cars or crappy teachers!

I have some debt....can I get some of this "bail out cash"?
Why do the executives still have jobs let alone large salaries?
Why are all the cars so expensive? If they lower the prices dramatically the cars might sell faster bringing in more revenue.
Tese exec. types drove autos that are not affordable to many Americans. Why did they not fly coach and rent a shoe box like the rest of the "working class".
Rich guys crying poor puts a sour taste in my mouth.

Who will be next for a bail out??? I understand if the car industry goes under there will be thousands of people out of work we can't let that happen, things are bad enough. Isn't there another way to handle this problem? Maybe we need to look closer at how much top people are making,and how many of them are getting kick backs for certain contracts awarded. I would love to buy a new car mine is 11 years old but I can't afford one even when they offer price incentives and low intrest rates. They need to sell cars well make it worth it. People are out of work and can"t pay for their homes, how can they buy a car? Union workers have offered to work for less, they say this isn"t enough, Just what is enough? How much more money can this government hand out before we as a country will never see the light of day again?

'91 Honda Civic, 189,000 miles. Bought it in 1998 with 36,000 miles on it. Replaced a timing belt, radiator, and battery. I think I better take a look at the brakes now though. Most of the complaints I've heard about American cars is the transmission going out. What's up with that?

This indrustry can not fold....Make them comply to make overs esp on the top people...The whole country will suffer for these GD money hungry top dogs want all they can get and to hell with the little guy.This wouls be a LOAN

This week the BIG 3 Chrysler, Ford, and GM are on Capital Hill asking for a $35Billion Loan. - The Federal Govt. should put the Auto Industry to work converting the NATIONWIDE Federal fleet of fossil-fuel powered vehicles to Hybrid vehicles, within (5) years. This would achieve (3) Objectives: (a.) This would put people in the auto industry to work. (b.) This would hold the struggling auto industry accountable for the $35 Billion Dollar loan they are currently seeking from Congress. (c.) This would REDUCE OUR NATION’S CARBON FOOTPRINT IMMEDIATELY. This Example should then be implemented at both the STATE & MUNICIPLE levels, based on population.

So far I haven't heard anything toshow how they are going to change there ways to keep this mess from happening again. They just want a free ride. These companys will not survive if they aren't going to change. Most of this country is in trouble, people are without jobs & can't find new one. I know a number of people being let go. Who can afford a new car. Many are more concerned with feeding the family & paying the cars payments they already have. The big 3 are too big, they need to become the small 3 & survive without our taxes.

Instead of asking for the American tax payer to bail the auto industry out, they need to go back and ask their employees to make concessions. The reason no one can afford to buy American car is because they have such high wages and benfits. Its hard for a average American person making $12.00 to $15.00 an hour to afford a car or truck being made by people making $73.00 including their benfits. Let the auto makers bankrupt and bust their unions and you will see more afforable vehicles and better managed companies. And for these guy to be making $23,000,000.00 dollars a year, I bet I can find people who will do a better job than they do for around $100,000.00 a year. They have made their bed so let them sleep in it!

bank bailout = good for nyc = good for the east coast.
auto bailout = good for detroit - good for the rust belt.
Washington DC is on the east coast.
So, the band bailout gets approved, while the auto bailout is denied.

Let them fail!

UAW contributed 100's of millions to Obama. Seems to me if they had even the slightest amount of concern for their members, they would have stayed OUT of the active donating part of the political process this year and given that money back to their members!

Oh, we can't do that....THAT ACTUALLY MAKES SENSE!

I have no idea who these people are who write to you? Quality is equal or better at Ford compared with the Toyota and Honda and has been for some years. Do these people know that they would bring down suppliers with the Big 3, this would bring down the other car companies Toyota and Honda. More cheap imports would come in from over seas and more jobs will be lost.

I cannot understand why someone getting a check for $400.00 a week plus unemployment benefits and medical, etc are complaining. I work 40 hours a week and those people make lots more than I do setting at home enjoying themselves. If the auto industry wants to raise money stop the $400.00 a week and they could do lots, in other businesses when you are laid off you only option is to live on unemployment or find another job. Lot of the people needing help with saving their homes would love to have what auto employees.

file chapter 11. with out union contract they will survive. no way does UAW deserve to force us to pay for their lucrative retirement, health care. high wage, and worse the job bank. do most of us get 95% of our wages on lay off? or health care for us and our family's for years on lay off or retirement? they killed the golden goose. why do we have to pay their welfare benefits.? that said we should go after execs under Rico statutes. they are crooks who failed their fiduciary duties in an ongoing criminal enterprise.

their argument is they deserve it as much as AIG, the wooden arrow mfg. the rum makers, and race track owners who got the extra 150 billion to get the original 700 billion passed. (850 total 1st dip.) they are right except 2 wrongs don't make a right. some guys made billions betting against the bad mortgages. the banks, aig should have filed chapter 11 then and not paid of the swap, derivative speculators only ones hurt would have been a few rich greedy pigs. if we need money in circulation, charter a new bank, don't give more $ to those crooked slobs

file chapter 11. with out union contract they will survive. no way does UAW deserve to force us to pay for their lucrative retirement, health care. high wage, and worse the job bank. do most of us get 95% of our wages on lay off? or health care for us and our family's for years on lay off or retirement? they killed the golden goose. why do we have to pay their welfare benefits.? that said we should go after execs under Rico statutes. they are crooks who failed their fiduciary duties in an ongoing criminal enterprise.

All these "stimulus" and bailout packages, are just exacerbating the problems that America faces. The real problem is the ridiculous amount of debt we have, and encouraging more debt is hardly the solution. All the government is trying to do here, is push the problem further into the future, but it's got to come home to roost eventually, and when it does, the Great Depression will lose it's title.

please no more bail outs

One of the executives said something to the effect that 'forces beyond our control' have brought them to the brink. What I see are three auto companies brought to the brink by making very bad business and marketing decisions.

They wanted greater profits per unit by making SUV's, off-road trucks and large vehicles that didn't have to meet the federal safety standards imposed on passenger vehicles. They created a false demand by catering to the testosterone-deprived driver with the SUV and replaced the station wagon (a 'passenger vehicle' under the standards) with the minivan. In their short-sighted pursuit of the quarterly profit, they failed to react fast enough to the global demand for oil.

I see three companies banking on low-mileage, high-testosterone vehicles getting caught by a bad marketing strategy and paying the price for their myopic decisions. The penalty for this is bankruptcy. Let them fail. Let them file. Let them reorganize.

But above all DO NOT bail them out. Their paltry $34 billion plan is just a lure to throwing good money after bad when they come back begging for more money to stay afloat.

Are the big three asking for "bailout" help from Canada, Europe, China, Mexico? and other countries where American cars are made and sold? Is the US being asked to bail out the world operations of these companies, or is it only US operations? We all have heard of the GM flex fuel cars made and sold in Brazil, and the Buicks sold in China. Who are we bailing out? If GM falls, does GM International? Do all the foreign plants close? Is China going to step up to the plate? Mexico? It'd be nice to know.

Until the UAW makes real cuts and gets rid of their antiquated rules like paying laid off workers 95% of their salaries for a year, the Big 3 are doomed.

Perhaps Congress should require the Big 3 to move from Michigan to a right to work state that doesn't allow the union thugs to dictate company policies.

Maybe the Big 3 should become the Big 1. There is enough worldwide competition to avoid a monopoly issue. Eliminating 2 entire upper management staffs would save them a fortune and avoid the need for a bailout.

When will this stop? How can we just print money and use it? Whose going to bail out the average worker whose lost his/her job? When will the madness stop?

There is a old saying "United we stand, divided we fall". Maybe the big three should consider combining efforts and become the big "1". Pool their resources and knowledge and maybe they can produce a vehicle that people will buy.

Suggestions for Big 3 to boost sales and increase buyer confidence.

Offer a real 100% gaurantee, when you take car to dealer with a problem you instantly get a loaner vehicle of equal or greater value...
Save the buyer valuable down time so he can get right back to work.

They obviously have a surplus of vehicles to use in this offer, the loan cars could later be sold at a hugh discount... with the same 100% guarantee!

Greg

where can I get a bailout for my Business. Would you tell me where?

No bailout!!

Let them go bankrupt and dissolve their biggest source of the problem, the union.

Get rid of that ridiculous union and their outragous demands!!!!!!

Have had gm cars since been able to drive, have kept them for 200,000 miles with just normal maintenance. People just want to buy foreign, well look at our economy and jobs.

France has just approved more than 2B euros for Renault without any "kangaroo court-style" hearings or similar torture. Europe is also preparing more than 40B euros for their automotive industry. Every developed (and less developed) country in the world knows that it is in their national interest to protect their automotive industry. We should do the same and it is just about time we stop all this circus pumped up by media and our politicians especially Mr. Bush and his GOP backers from Alabama who have an obvious hidden agenda to destroy UAW and help their darling transplants from Japan and Germany. It is not a bailout but a bridge loan, hello!

YES! To the big 3 bailout.The big 3 products have improved. The only reason AMERICANS purchase foreign autos is status quote. By allowing the big 3 to fold when allow our AMERICAN money to go overseas to benefit other countries.Think of the bigger unemployment rate that will overtax us due to more government programs for food stamps program,health programs,taxes losses from loss factories jobs,etc. If anything the bailout for our financial institutions should be denied. They are in the business to management money and have prove they cant do the job!!!

I can't believe how many people have fallen for the "new economics" espoused by people in both parties. Look, manufacturing jobs magnify each dollar invested to as much as $15 in the economy. Each manufacturing dollar cycles to as many as 5 people. Each dollar spent importing a manufactured item results in -$3 to our economy... and if you added in the "missed opportunity ($15) to manufacture" it here, the you get -$18 of economic benefit by buying a pot from WalMart. Come on people, this is our manufacturing base. They should have gotten the $700 billion. BECAUSE YOU might already be in the 5 layer cycle! And you definitely aren't in the cycle in China because that is prohibited to Americans. Think, people, think. There has been some big lies to you lately about how economics actually works. It's NOT about the mortages, it's about jobs. It takes a job to pay a mortgage and you can't pay a mortgage working as a WalMart greeter. (sorry WalMart, it's not just you) but importing too much WITHOUT EXPORTS is never good for an economy.... look at Africa.

These 3 auto companies spend $25 Billion on advertising in a 2.5 year period. This year GM added Internet ads at a cost of 1.5 Billion.
Simple. Cut the advertising and they don't need a bail out.
The crucial question is: How many more automobiles can we permit on our roads and streets. We are already over run, over congested, over polluted, over exhausted from the NOISE and stress created by their products.

This is becoming a big poker game where the big players bluff of inflated unemployment that will result if they do not get their money. The fact is if people do not buy cars, there is no change even if we paid to totally revamp the industry. Kenney Rogers sang a song saying, "You've got to know when to hold them, know when to fold them and know when to walk away and know when to run"
It is not always good to hold onto the hand you have created.

The overall best policy that will solve these problems once and for all is to turn from our employment lifestyle with all its hardships, uncertainties and bondage to creating a garden paradise retirement lifestyle where all our needs are in our community. That solves world problems that cannot be solved another way, like pollution, global warming, energy crisis, financial crisis, disease and infirmities, crime, immigration and social security insecurities and insufficiencies.

It is the expectation of people of many religions that they will one day live in a garden paradise where God looks over it and gives rain in due season. It is the result, not the reward, of following God's guidance not to seek after riches, honor, pride and vanity, but to love God's wisdom, do His will including helping the poor among us. The way is prepared through God's prophets to make a peaceful and enjoyable transition. We must grab this opportunity while we can. If we had used this strategy in our first financial crisis we would not repeatedly be having a similar crisis, nor a pollution and global warming crisis.