like any other business the buck stops with these top execs.---first they should be fired or lose their jobs,as they are a failure and should not be tolerated.as far as gm --they are building a massive new plant in russia,is this what they want the money for?.if you fail in your small business tough crap as you will not get any government help---let them file bankruptsy and restructure as the cars they are producing are junk to start with.

as for related job loss--you need to check how many parts are outsourced to other countries---you may be surprised as to who is making parts for these cars.also you dont hear anything about plants in mexico and canada closing.

The oil companies should bail out the auto companies. They conspired with each other to keep gas guzzlers on the road and the oil companies have continued to rake in high profits in spite of the hardships high prices at the pump have caused for consumers.

Kay,

Wake UP!!!! Time for a Reality Check!

First, Explain exactly how you think these 3 can pay back anything? They are are dying on the vine right now. This 25B is going to give them "life" for 3 months!! NOTHING is going to change in regards to their ability to make money in that time. How can they pay it back if they have nothing?

As far as the union wages go, again WAKE UP-REALITY CHECK! Face a sinple fact, find any other equivalent job in industry in the US where you can make the same money as you make in the UAW.

Your not going to find it, because the truth is they are overpaid for the function they perform! That is the FACT and it is why the foreign auto companies are berating the US makers in our country with our own work force!

By all means, jump into bed with Barney "the Riddler" Frank and "claim" union busting as reason to keep overpaying for this job function. It will work real well when the company dies & your on the unemployment line!

THE ONLY SOLUTION NOW IS CHAP 11 !!!

They can restructure & renegotiate in order to become a VIABLE company again.
At that point, with New Managment in place, the idea of some unique Federal Loan could be discussed. Until then -> NOTHING!!!

By the way, going Chap 11 does not mean the collapse of the industry and its supporting businesses.

Kay - Where do you normally shop for clothes, groceries, etc. Where would you go to buy the latest DVD your kids want ?

Would you go to the most expensive store in your area?

Wall St. and the big 3 automakers should have to comply with these stipulations BEFORE a penny goes to them for bailout:

1. All assets be sold, including private jets, company-owned property for vacations/meetings, etc., limos,
company cars for executives, etc.

2. No executives, INCLUDING CEO, CFO, COO, get bonuses and all salaries are reduced by 2/3.

3. All stock options are forfeited by CEO, CFO, COO and senior executives.
Only middle management and workers get to keep options.

If they can't agree to the above, then they don't need bailing out, they need to be kicked out.

Actually, a firing squad would be best.

There's no difference among the Wall St. executives, the automaker execs, and the U.S. government in Washington.

They all suck. They are greedy idiots.

The banks and the automakers send jobs overseas while Americans go unemployed. But that doesn't stop the big boys from collecting millions in salaries, bonuses and stocks.

The government screws the taxpayers every time they neglect to pass legislation which would put HUGE taxes on companies moving jobs to other countries. The loser is always the American worker.

Thank the U.S. government for allowing all those foreigners to come over here on visas and green cards to take more jobs away from American workers.

"Barbara" has the best idea on this board followed by "Markktaled" who thinks a firing squad is in order.

Reality Check....Did you hit the nail on the head with your post..WAY to GO!!!!!
KAY...sorry but the Union IS PART of the Big 3's problem You say that the union worker has taken a pay cut. Gosh when you are making $70 an hour, yes this does include wage & benefits. The starting pay is $14.61 an hour, so I don't think you have your facts correct. I guess you don't know ALL the benefits that a UAW worker gets. 1. Full PAID health insurance for the ENTIRE family. 2. Health Insurance plan that only haas a $300 deductible. 3. Paid child care 4. Two 3% pay raises and a lump payraise of 4%. 5. A $3000 signing bonus in 2007 6. A performance bonus 7. Pension plan that pays up to $40,000 + 80% of a private health insurance plan + Social Security + Medicaid & Medicare. Not bad for someone that has a high school education. 8. GM is contractually required to support thousands of workers in the UAW "Job Bank" program, which guarantees nearly FULL wages & benefits for workers who lose their jobs due to automation or plant closing. + they still get unemployement check. 9. Purchase a car at cost and lower interest rates than the public. 10. they get paid while sitting on their butts in the break room when their piece of equipement is being repaired. 11. They get 12 to 14 paid holidays. The HECK with the UAW worker and their Presidents, who actually think that the mess that the auto industry is in is the fault of the banking industry. Yes that is correct, UAW Pres. Gettelfinger is quoted by the Wall Street Journal as saying this wonder problem is the fault of the banking crisis. What drugs is this guy on?

Big 3 can you sing thank heaven for 7 eleven.. Chapter 11-bankruptcy court hear comes 3 auto manufactures, hopefully you have some intellegent judges that can handle this major problem, because ALL we have in Congress are stupid Asz lawyers that don't know NOTHING about how to run a private business.

Mike_C...way to go Mike...Kay you need to get a in touch with the real world. I suggest that you go get a trash can to throw up in because the next facts about the UAW worker will make you sick to your stomack. Fact UAW GM worker makes $70 (includes wages & benefits) compared to Toyota's $40 an hour.
$70-$40= $30 difference in pay.
$30 x 40 hours = $1,200 difference in pay for ONE hour.
$1,200 x 150,000 workers = $180 million dollars difference in a ONE week of work.
$180 million x 50 weeks = $ 9 BILLION dollars difference in payroll & benefits package between GM & Toyota worker. No wonder the BIG 3 are going broke. Screw the UAW and their workers who think that they are under pay and over worked. UAW worker makes $60-$70K a year + benefits that the AVERAGE worker would love to have. Heck we pay our Teachers a big salary of $30-$40k a year and I consider a teacher has a more important job than a line worker that screws in bolts on a car that fall apart after 4 years.

I've heard both the Big 3 executives and the head of the Auto Workers Union state that the sour economy is solely to blame for their current problems - that it's nothing they did.

As long as that's the reality they choose to see, it's a waste of taxpayer money to give them one dime.

The government screws the taxpayers every time they neglect to pass legislation which would put HUGE taxes on companies moving jobs to other countries. The loser is always the American worker.

Thank the U.S. government for allowing all those foreigners to come over here on visas and green cards to take more jobs away from American workers.
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MaureenO,

We all want our job to be able to give us the income to have a good life, but that is not a GUARANTEE in life.

I'll ask you the same thin gi asked Kay. Where do you go to get groceries? do you find yourself shopping more at Walmart/Kmart or some kind of "upscale" store?

A company is run the same way. It provides you with a job, but it does not exist just to provide you with a job. It exists to produce a product or a service that can make money for its owners! The owner may be and individual or a group of share holders. Their job is to find a way to maximize the money they make. Just as you or I try to maximize our budget and save as much as we can. Do you go to a Macy's to buy an article of clothing that you could get at Walmart? Are you going to the most expensive gas station in your town to fuel up?

It is true that the CEOs of the big three are a bunch of over paid jerks but the blame for the failure of these companies is not totally their fault. I have a brother in law that quit doing control consulting work at Ford because the union crafts there were so lazy and out of control that it took forever to get the simplest thing done. Everytime he went to Detroit he swore he would never go back there again, finally out of total frustration with UAW he cut all ties with the automotive industry. If the government bails out the auto industry it should do so under guidelines that regulate CEO's compensation, worker's compensation, union activities and new automobile development. Then and only then should the government bailout the industry.

Why don't we take that 'bailout' money and invest it in training the auto makers employees to make another product, such as wind turbines for infrastructure for renewable energy - they should have similar skill sets already - the factories could even be converted....Spend this money on investing in Americans - not companies that have not kept up with the times.

"It seems like Obama is filling his roster out with non-controversial appointees"

Huh???

I guess my take on 'non-controversial' is somewhat different...sheesh.

1. They should admit they sold the US public useless, poorly engineered, overpriced junk for at least the last several decades.

2. They should admit that their European and South American operations actually build attractive and fuel-efficient vehicles that are quite decently engineered. These vehicles, if sold in the US, would immediately make them competitive again, besides helping reduce our dependence on Middle East oil.

3. They should admit that they wasted billions of dollars in profits on misbegotten strategies, acquisitions, divestitures, and legal fees trying to preserve their benighted business model.

4. They should admit that greed, vanity, and sheer stupidity were the motivating forces for their actions.

5. They should admit that for their entire careers they were grossly overpaid, and as a confidence-building measure they would agree to repay to shareholders their entire compensation going back 10 years.

6. They should admit that their delusional business plan was predicated on the ludicrous assumption that gasoline would stay cheap, and that they could eventually convince everybody that vehicles used mostly by a single person had to weigh at least 6,000 lbs.

7. They should admit that their lives got easier, the more dependent this country became on Middle East oil, and that reversing that trend was not part of their business plan.

8. They should admit that they really don't have a clue what to do with the money they are asking for, other than to waste it on advertising for new pickups (Ford, Chrysler), as if that is what this country needs from them, or to serve a 22% market share with about 8 brands, and keep a bloated distribution network fat, dumb, and happy (GM), as if that would make the problem go away.

These people make me sick.