Closing Arguments: Big Three CEOs Try Again

I think we should let them file chapter 11. Then give them the loans only if they can come up with a plan that will work

Yes, the government should bail out the big three auto makers. What is the difference between them and the banks. All have miss-used money, why did they have to come back with a plan. The same people who ran the banking industry into the ground are getting money with no reporting mechanism I am tired of all the politics All of these industries play important roles in our economy. I think all of the need more regulation. All de-regulation has gotten us is higher prices and a contract for everything you subscribe too. I personally am sick of 2 year contracts for everything from phones to electricity.

ABSOLUTLEY, MILLIONS OF JOBS ARE AT STAKE, NOT JUST THE BIG THREE. HOW SHORT OUR MEMORIES ARE, WITHOUT THE BIG THREE WE COULD NOT HAVE WON THE WWII. NOW WE WIN THE WAR AND LOSE OUR JOBS TO THE AXIS.

If my company does fails the government will NOT bail me out.
However, the auto industry is a key factor in our defense system, so yes, we have to bail them out, however, fat shpuld be cut ASAP and driving to Washington is NOT enough it is just a jester.
The strings should be ropes and if they are not then we have only ourselves to blame, we elected the officials that are going to give them the money. If the auto industry goes the way of the steel and coal industry we have made a mistake, if not congrats.
No one should be paid if they do a marginal job, a company cannot pay salary and benifits that are not competative with other industries.

If Bush and our Congress can give away the store to sleazy financial corps like Citi Group and AIG, that are absolutely devoid of ethical business practices, why can't LOANS be offered to our own auto industry?

Please try to keep some semblance of good manufacturing jobs alive in the USA. All foreign car makers, and especially the Japanese and Koreans, are subsidized by thier governments, so it is neither free trade nor a level playing field. Wake up America!

Why bail them out? They have done nothing since their "bail out" President Clinton signed off during his tenure - to develop alternative fuel vehicles (now allowing Toyota and Honda to lead the way!), indeed, they would be more competitive after claiming bankruptcy reducing the power of the union who have essentially tied the hands of any development of a cost competitive car. shame on the unions for allowing this to happen, and now you ask for help. Its all about greed for the lazy.

YES. We need to buy AMERICAN...

We should absolutely not bail out the big three automakers. They need to merge and/or work something out among themselves and those corrupt unions or face the bankruptcy courts.

Yes, suppliers and dealers may end up getting hurt but the answer is not a government bandaid. How else will our Country learn?

A bailout is taking my money and giving it to a failed industry. My father taught me personal responsibility and accountability and I've failed and suffered the consequences at times. This should not be any different.

Give them the money.

It's crazy, let them file Bankruptcy, like all of us would have to do. If we did'nt engage with so much imports, this country would survive. This is AMERICA an independant nation what did we allow to be done to us?? Basically import infiltration (R A P E )! And on and on and terrorist etc. We need to stabilize our countries backbone, while we still have a country!

I feel they need to go into chapter 11 or bankrupt or reorganize. They have been in bad shape for a long time because of management. The government should not loan them the money. Make these people responsible for their actions. If the people have a business is the government going to baiil us all out. We have to stop this kind of crazy thinking and get back to people having consequences for their actions. NO NO NO

The Federal Government should definitely give the American Auto Industry the Bridge Loan they are requesting. The alternative would be much more costly and devastating,not to mention the impact it could have on our national security. Who does the american people think made our planes,jeeps,tanks,machine guns and other military equipment during the two world wars and Korean war? Most of the manufacturing was done by the Domestic Big Three.

Not No, but HELL NO. Let them declare bankruptcy and reorganize their businesses. Break the unions, which is one of the main reasons they are in trouble now.

I don't think we should bail them out. Maybe if all American citizen's were given money to buy a new car and also to pay off there mortgages it would help the banks and the Big 3. Just a thought. It might change things about the government bailing everyone out.

NO!!! I'm sure with all the money they have already made they can find enough money to stay in business just like any small company that can qualify for bailout money. What do CEO's do to qualify them to recieve 21 million dollars a year. These companies saw what was coming 5 or 10 years ago.

HELLO I HOPE YOU DO READ THIS I JUST WOULD LIKE TO SAY THE GOVERNMENT NEED TO GIVE THE WORKING MAN AND LADY'S A BELLOUT SO WE CAN PAY OFF THE HOUSE THE CAR AND CRIDIT CARD BILL AND SAY TO HELL WITH YOU CEO'S THERE'S NOWAY NOBODY IS GOING TO WORK FOR A DOLLAR. AND THE GOV. THINK HE WILL HE'S A DAM FOOL TO. TANK'S

yes i think we should give them the money,after all its a loan that they will pay back!

I think we should let them bail themselves out as much as they can. Starting by selling the private jets. Helping someone one that is not trying to help themselves is just crazy.

I have dejavu...a majority of Americans said NO to $700B for the financial industry. Congress listened, they handed out over $800B. Americans said NO to $25B for Detroit and the Big Three respond by asking for $34B. Either we are fools or Congress is taking us as ones.

I can support assistance to these three companies, but only if their respective business plans demonstrate long term competitiveness and viability. My concern is that our congress are looking for somewhat weak excuses to lend the money.
As a small business Healthcare CEO, I offer our congress three questions that need to be answered in order to insure viability.
1. Are the new products competitive, both domestically and globally? I would be the first person to drive an American car if it is priced competitively and satisfies my person desires. I have owned Honda Accords ever since my Escort electrical system went bad at 51,000 miles and it was not repairable by the dealer that sold me the car. It’s not just about electric cars.
2. Are there plans to insure the products will be built with quality and long term durability in mind? I believe Chrysler “gets” this message. GM and Ford, remains to be proven. However, I will say this. At the heart of the American auto industries lack of leadership in quality is the lack of adoption of bottom up management. Toyota is tops for one main reason, their adoption of Lean Principles. Without true bottom up quality, our auto industry will continue to fail in this effort.
3. Are there mechanisms for truly lowering operating costs and making the hard decisions related to all personnel? The expectation of plant closers are fixed cost reductions. They do not impact marginal costs, which is the American auto industry’s greatest problem. The real crux of the problem has been flashed in front of us for many weeks. The average UAW worker is compensated $73/hr, or $151,840 per year, as opposed to $48/hr by our more competitive foreign owned domestic plans. The UAW pay for the average plant worker is $20,000 less than what the average Family Practitioner makes. It is almost what a congressman makes. This is absurd. The health benefits to retirees are another area. Until there is a way to lower the marginal cost, the industry is destined to fail.
Today, I heard Congresswoman Pelosi say that “Bankruptcy is not an option”. If they approve these packages without attending to all three of these requirements, Bankruptcy is inevitable. Please be responsible with our money. If these companies can cut it, lend the money. If they can’t, let one or more go bankrupt and see how this company emerges.