Nightline's Daily Line is our blog, where you’ll be the first to find out what stories we're working on each day. Plus, our anchors, correspondents and staff share the latest behind-the-scenes information from the newsroom and the field.
RECENT POSTS
- 'Nightline' Exclusive: Firsthand Account of Fort Hood Shooting
- Closing Arguments: Obama and Election Day Implications
- Closing Arguments: Best Halloween Costume Ever?
- Closing Arguments: Regulate Extreme Self-Help?
- Closing Arguments: Congress Tackles NFL Head Injuries
- Closing Arguments: Computers in the Cockpit
- Closing Arguments: Scientology's Tax-Exempt Status
- Closing Arguments: Obama Slashing Exec Pay
- Closing Arguments: Does the 'Smart Choice' Label Mislead?
- Closing Arguments: Most Annoying Phrases? Whatever
MONTHLY ARCHIVES
« Previous | Main | Next »
Closing Arguments: A Bailout for the Big Three?
November 19, 2008 12:04 AM
Executives from the Big Three automakers -- GM, Ford, and Chrysler -- were on Capitol Hill today asking for a $25-billion share in the government's $700-billion bailout.
These once-titans of American industry are running on fumes. Without a lifeline, they warned, millions will lose their jobs. They even went so far as to say national security could be put at risk if they are allowed to fail.
But lawmakers are reluctant to direct taxpayer money toward the auto industry -- and the future remains unclear for Detroit.
So tonight, we ask you: Do the Big Three deserve a share?
Tell us what you think.
November 19, 2008 | Permalink | Share | User Comments (244)
You can follow this conversation by subscribing to the comment feed for this post.
Yes, absolutely. We can not let them fail!
Posted by: Michael | Nov 19, 2008 12:09:11 AM
Please bailout the big 3, our whole economy will collapse w/o them
Posted by: steelworkers affected too | Nov 19, 2008 12:10:49 AM
I support the government providing loans to the auto industry if they can provide a plan to become profitable and the loans should be paid back by them.
Posted by: Nancy | Nov 19, 2008 12:11:11 AM
Heck no! They blew it! Toyota designed the Prius, creating waiting lists of eager, loyal consumers. "Who Killed The Electric Car" came out in 2006 showing what GM did with their technology.
Posted by: ch | Nov 19, 2008 12:11:39 AM
I personally feel that we should not bail out the auto makers. They can make less cars and make them more efficent. They have a tendency to be over priced. NO! Do not bail them out. They can find a way to get out of this hole themselves.
Posted by: Wilma Hutchison | Nov 19, 2008 12:12:03 AM
NO!
Posted by: Amy | Nov 19, 2008 12:12:12 AM
I personally think that if these corporations need that much money to bail them out then they don't need to be in business in the first place. Toyota is doing well. American car corporations pay thier CEO's, engineers, and workers too much in the first place. This is why I personally think they have become desperate for money. If you would manage your money right in the first place and put it in the right places, this wouldn't happen. I don't think we should bail them out.
Posted by: Brooke | Nov 19, 2008 12:12:19 AM
No to ALL bailouts -- I want to know how much the "Big Three" paid their top executives in bonuses in the last year?? No company should be paying "bonuses" when they are not making a profit.
Posted by: Marilyn McKelvey | Nov 19, 2008 12:12:27 AM
NO!!!
Posted by: Sandy | Nov 19, 2008 12:12:39 AM
The automobile management teams (CEOs, etc) should first cut back their salaries before asking for the bailout $, it seems a bit ridiculous while they are getting high pays and everyone else suffering yet they wouldn't want to cut their own $ to help their own businesses? Hypocrite. (same goes to those who ask the money to then spend it on parties or bonuses...)
Posted by: Johnny | Nov 19, 2008 12:12:44 AM
If the Big 3 go bankrupt, someone will buy the plants, etc., and produce cars for a much cheaper price.
The autoworkers and all suppliers will still have work with the new owners of the car factories.
Why doesn't anyone report on this? All they report on is that everyone will be out of business - Yes, that is true, just the owners and stock holders.
Posted by: K Michael Berliner | Nov 19, 2008 12:12:49 AM
Do it now or pay heavily later
Posted by: Drew | Nov 19, 2008 12:13:15 AM
No way should we bail them out. They have been the fat cats for how many years. The only fair way would be to tell all the upper managment that they get no fat checks and no bonus's at all NOTHING!!
Posted by: Dennis | Nov 19, 2008 12:13:19 AM
You think the economy is bad now, let the big three fold and we will all be on the soup line. Why bailout AIG and not the automakers when 5 million jobs are at stake.
Posted by: Brad J | Nov 19, 2008 12:13:23 AM
Let them get what they deserve... they have no foresight... they should file bankruptcy and recover thru that channel if they can!
Posted by: Robert Schneider | Nov 19, 2008 12:13:36 AM
My brother went bankrupt as a very hard working farmer and family man in the 80's. No one bailed him out. His wife had catastrophic medical bills from a chronic illness at the same time. The government didn't bail them out. He died of a heart attack at 42 y.o. We need to bail out the working people in the middle class, not the rich people. The farmers are the heart of the food chain. There was nothing more important than that. The government is off track. Judy Davis
Posted by: Judith M. Davis, LADC | Nov 19, 2008 12:13:53 AM
no let them file bankruptsy they mismanaged the business.Ceo heads should roll.
Posted by: mark | Nov 19, 2008 12:14:00 AM
I don't think we should bail them out.
Posted by: Roberta | Nov 19, 2008 12:14:03 AM
Yes. General Motors is asking for a loan, not a bailout...regardless if we lose the auto makers and all the associated jobs we are headed for depression, not recession.
Posted by: Linda Crenshaw | Nov 19, 2008 12:14:13 AM
The big 3 automakers should be allowed to fail. Only then can they get rid of the overpaid and ineffective management that got them into this situation. Other automakers are still doing well and opening new plants. What happened to the big profits they made when the economy was strong? Did they share it with the taxpayers? Why should they be rewarded for overspending on themselves instead of making sure that their business was in good order.
Posted by: Gerald Hamilton | Nov 19, 2008 12:14:44 AM
Post a comment
