Obama: Auto Bailout 'Necessary'

Well, with all your complaints, what do you think Obama SHOULD be doing? Should he just back off and let the economic crisis play itself out? Is the Obama bailout plan really a waste of tax money? I think it's too early to tell.

When rich people get in trouble, they go to the government. When poor people go to government for help, we call that welfare. This is a double standard that needs to go away.

when it comes to socialism, obama wants to make us all poor. Yes, we are to salute him next week; and then he will steal every single dollar out of our 401Ks and give it to his crony friends.

This auto bail out is a joke. American made cars are crap and their warranties blow. All the money we just handed to them went to pay their retirees their pension. Thast not helping them they should of filed chapter 11. I resent bailing out an industry screws the american public with crap cars.

If federal help is necessary for the big three, It should be a loan and it should be after they file Chapter 11 and renegotiate contracts, If they look viable after that make a bridge loan. Who will make concessions when they already have the money.

At first I thought that bailing out the auto industry was a bad idea. Now that I've thought about it and considered it from all sides, I've changed my mind. I think it's necessary. There are too many other industries and businesses that are related or tied to the auto industry that will fail or at least be affected if GM, Ford, and Chrysler fail. There are too many jobs at stake. Something must be done to help them but I think strict guidelines must be put in place to insure that the bailout money is spent for it's intended purpose and that it's not given in bonuses to the CEO's. I think a "car czar" should be appointed to oversee the bailouts and he should be required to give an account to the government as to how every penny of the bailout money is spent.

Drjohn:

So you fell for it and bought one of those huge pieces of junk. Do you think it fell apart because it was poorly made? -Or could it have been poorly designed?

So your IRA isn't doing so well? Did you vote for George Bush twice?

It seems like everyone is getting what they paid for.

I can help GM get out of the hole that they are in , But when I went to
their web site to find out how and who
to contact , they had an investor page
so I went there and there was a submission area for ideas it was there
that I found out that GM wants me to
give up all my rigths and give them
what I have for free and I get nothing,
that sounds like they still have
their hand out trying to get something
nothing !!
Do you think maybe I should go to
Toyota with what I have ?

"Does anybody verify any of the info that they publish because it would be nice if the information were true that is being told and then the people can make a decision of whether to hate us or believe in us."

I have news for you- that data comes straight from the car companies. And one more thing- we don't owe you a living! Maybe less arrogance, maybe better cars, maybe less demands, and maybe paying less for those corporate jets might help.

BUT WE DON'T OWE YOU A LIVING.

What are you going to do for my IRA losses?

Nothing? Why? Don't you care????

Jobs are being lost in my town. What are YOU going to do for me?

Nothing???

It is your collective righteous sense of entitlement that drives people like me nuts.

I bought a 1996 Suburban. Over 7 years I replaced the transmission, the water pump, the power steering pump, the alternator, the radiator and havd to charge the A/C every single year.

I bought a 2004 Sequioia and have had to do not one thing.

Bite me, GM.

Isn't it time for a union break?

I am a Gm worker and it appauls me when I hear my so called wages plastered in the media. These numbers are wrong, way off and I am tired of hearing how we are over paid. I amn skilled trades and I have a college degree and I work very hard and am proud of my job and my accomplishments. Does anybody verify any of the info that they publish because it would be nice if the information were true that is being told and then the people can make a decision of whether to hate us or believe in us. We pay taxes we spoend money in the community and the foreign companies take most of their profits back to their country. You talk about lay offs and and benefits and yet many other companies have good benefits and protect their workers why is it so bad that we are. I have taken wage cuts and turned down raises but the CEO level have not taken cuts. Why is it that the workforce are the only one that should make concessions. Please understand I am no better than any of you and in return you are no better than me. Please do not cast the first stone, we are not bad people we are just trying to raise our families and to save our jobs which will help the economy as well. Wouldn't you? Please remember that the companies that we are being compared to have none or fewer retirees than the big three, why? because we care about our workers and we have been around longer. It should be like a medal that these companies take care of the people that made them successful, hard workers and smart people who now are retired. These people have been injured on the job or are now too old and have earned some compensation. Shouldn't all companies have to take care of their people?, I hope so. Lastly what have the banks done with their money? We hear alot about retreats for the executives and bonuses, how is that helping the economy? It doesn't.

Ranger:
I think you may be thinking of 'stakeholder', which is basically any busybody.

The site Investorwords defines shareholder as
"One who owns shares of stock in a corporation or mutual fund. For corporations, along with the ownership comes a right to declared dividends and the right to vote on certain company matters, including the board of directors. also called stockholder."

Change dot gov defines 'shareholder' as:
n. bad, mean people who can not be counted on to make voluntary contributions to Ozymandias' mighty works.

Someone needs to clairify the term SHARHOLDERS. I do not think that that means only stock holders.

-------------------------------

One of if not the largest problem for the auto makers is the Auto Union. Getting paid 90+% of your wage during a lay off - get real. Glad to see the Auto Bank (sic) is suspended is a good move for today. But it has to go. All the Auto Union persons should by insurace, like Aflac.

Is there another industry that has such an unfair benefit.......Think people you are paying their wages/salary in the price of a car and when you add all the benefits that comes close to $70.00 per hour or a one week layoff costs $2,800.00; The month off well just a triffle more $12,040. [TWELVE THOUSAND AND FORTY DOLLARS] per month per person who is part of the union. Just think of that cost burdon.

Those of you in management you would not have a job if you wrote a Purchas Order for that at your firm would you??

Not to worry. There will be over two million jobs created very soon. The USCENSUSBUREAU is hiring. I beleive this is Obamas job creation program.

This might is the last chance for favors to get paid back from Ol boy politicians to the OL Boys in the auto industry.The drama may well continue for months to come.There are favors involved.Outsourcing may be the only alternative to survive.As for Obama,what is it going to be?Restore consumer confidence or keep writing checks that balloon the deficit?

As noted above, Obama is very wrong about the 'shareholders'. Those who own stock, including auto workers themselves, have already taken a huge hit. Either the industry is worth saving or not. I think it is and I think it would be folly to let GM collapse. Now, Chrysler on the other hand should have been bled a bit of its cash...

Bush, McSame, Osame-a, they're all the same. Crony capitalism continues, the only change is who gets to schmooze with cronies. Have a great time draining the wealth of the next two generations, for four more years. Then brace yourselves for a strong, icy wind of real change blowing in from Alaska. The "good ole boys" will be out in the cold then, and not before.

"Based on what? What you think he may have said? "

Yeah based on what he just said about AIG. Oooo nasty shareholders.

Now he says he wants shareholder to take some hits. Has he seen the stock chart since his election? Thats already priced in.

It really shows he doesnt know much about economics. I dont care how mellifluous his voice is to you.

Oh yes the automakers are big business alright, and we aren't going to bail them out just to save the companies themselves. We are going to do it to save the jobs and the industry so we can make good quality fuel efficient cars instead of these idiotic gas guzzling junkie SUV's that they threw their efforts into.

He's going to have his advisors work with auto management and the UAW. Boy that should work wonders. Throw in some pols and they will fix everything!