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Closing Arguments: Bailout Collapse Blame Game

December 12, 2008 12:05 AM

Less than two hours ago, Majority Leader Harry Reid announced on the Senate floor that the proposed $14-billion bailout for the struggling Big Three automakers had collapsed.

The failure came after the United Auto Workers refused to accept immediate wage cuts that Republicans were demanding -- cuts that would bring wages more in line with what the foreign automakers pay their employees at U.S. plants -- from about $70 per vehicle to $45 per vehicle.

Reid ominously said that he will dread looking at Wall Street when the markets open Friday. "It's not going to be a pleasant sight."

A White House spokesman said they were "disappointed" Congress failed to act -- and said they would evaluate their options moving forward.

So tonight, we ask you: Should the auto workers have been willing to take a pay cut to help the bailout pass?

Tell us what you think.

December 12, 2008 | Permalink | Share | User Comments (193)

User Comments

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UAW has failed their workers in not accepting immediate wage cuts.

Unfortunately, it shows a very shortsightedness, that may lead to their workers having no jobs at all.

Posted by: Jon Huston | Dec 12, 2008 12:08:34 AM

I wonder what their level of pay will be while unemployed!

Posted by: Nomad | Dec 12, 2008 12:08:58 AM

The UAW is being foolish. Geting a pay cut is better than having no job at all.

Posted by: cliorez | Dec 12, 2008 12:09:20 AM

Not only do they need to accept a wage cut, first and foremost the CEO, CFO, and anyone else that has a 'golden parachute', bonus's, stocks, etc., needs to have to dump it!!! What a travesty they still have millions while asking the gov't. to bail them out...I have no pity for their greed, or the greed of the Union. Do those poor workers think the union bosses are hurting???? The union has become a burden to the American workers.

Posted by: Annes | Dec 12, 2008 12:09:54 AM

Oh yeah the UAW should have given up part of their salaries.... They are the reason the automotive companies are in the position they're in now. Its amazing the the Japanese can operate in the south and not have the labor costs that the Big 3 have... Its the UAW's fault and so they should be part of the solution.

Posted by: Derek Brown | Dec 12, 2008 12:10:13 AM

Why should the suto workers be expected to take a wage cut, when we haven't heard anything about the executives taking a wage cut. The workers have a lot more to lose than those on top.

Posted by: jJ bychowski | Dec 12, 2008 12:10:13 AM

Yes, the auto workers should have been willing to take a pay cut to keep their jobs. They have a reputation for the best union wages in the country. Well, perhaps the union could chip in as well.

Their families are probably living as close to the edge as we are in upstate NY, but a little less money is better than being laid off.

Posted by: Kathryn | Dec 12, 2008 12:10:16 AM

How could anyone at this time in the economy not consider making a sacrifice to save their own job. A smaller paycheck is certainly better than no paycheck at all. The problem with all of our problems is the I syndrome. I can't compromise -- I can't take a cut --I can't work for the good of the whole

Posted by: Jean | Dec 12, 2008 12:10:18 AM

Absolutely the UAW should have accepted wage cuts. I'm a union member but its obvious the UAW is one of the main reasons the big three are in the position they are in. Had the UAW never been formed, all three auto manufacturers would have had plenty of liquidity to weather the market.

Posted by: Josh | Dec 12, 2008 12:10:20 AM

It's time for the auto workers to look for a job with Nissan or Toyota. There is a place for unions but the auto workers and the Teamsters are out of line and out of touch.

Posted by: e mar | Dec 12, 2008 12:10:31 AM

Yes, the auto workers should be willing to take a pay cut. I have worked in Michigan for 11 years for an auto supplier, we have no options when it comes to layoffs and taking pay cuts. People are making 30% less doing the same work that suto makers are earning becuase there is no union backing them. The union wasn't formed for outrageous pay but for equality and that is gone.

Posted by: Claire | Dec 12, 2008 12:11:11 AM

The US auto manufacturers need to get rid of the UAW and try to make vehicles that are more competitive with US made foreign autos

Posted by: cammpoint | Dec 12, 2008 12:11:12 AM

Everyone needs to make concessions to save the US auto industry, the union and its workers included. The autoworkers can no longer demand inflated wages and compensation when fellow autoworkers at Honda, Nissan, Toyota, BMW and Mercedes turn out high quality cars and trucks for far less.

By not reducing wages some, they may end up with no wages at all, and damage the livelihoods of all other Americans.

Posted by: letsBfair | Dec 12, 2008 12:11:32 AM

YES the auto workers should be willing to take a pay cut to help the bail out pass! I just had to take a pay cut at my job just to keep my job and went from $54K/year to $30K/year so if I and many others that I know and have heard of have to take a pay cut, then so should the auto workers! A pay cut with a job is better than NO job at all!

Posted by: Carol Austin | Dec 12, 2008 12:11:39 AM

No,the American public should not continue to pay for the failed American auto business, The unions should concede before they loose everything and kill the golden goose as they so often do. The bailouts need to end now. No more free money. Companies need to get their finances in order.

Posted by: Tim Lawler | Dec 12, 2008 12:11:55 AM

Of course the auto workers should have been willing to take a pay cut. A lower salary is better than no salary at all.

Posted by: anonymous | Dec 12, 2008 12:11:56 AM

Lower pay is better than no job and NO pay!

Posted by: Butch | Dec 12, 2008 12:12:01 AM

Unions should make concessions on Wages & Benefits

Posted by: John Rinhardt | Dec 12, 2008 12:12:09 AM

UAW has thought they were better then everyone else. Big three deserve to go down. 4 paid holidays in November. Election day, opening of deer season, and 2 at thanksgiving.

Long overdue. Go Transplants

Posted by: bob | Dec 12, 2008 12:12:16 AM

Yes, they should. Hundreds of people are losing their jobs, not given the opportunity to accept a lower wage. At least they are doing better than many others. $45.00 per vehicle is better than nothing at all. also if that is what is required to get funding, then so be it. If foreign auto makers employees can survive on $45.00 per vehicle, then so should they.

Posted by: Rosemarie McMaster | Dec 12, 2008 12:12:17 AM

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