The World Newser

What will they do with the money? Save jobs,build quickly a gas efficent car that won't break down,at a a reasonable price or line their own pockets and continue to build over priced gas guzzlers that break down all the time?

For a good education rent Who Killed the Electric Car at the video store. This little known documentary is a couple of years old. Auto manufacturers made pretty good electric cars in the 1990's in response to a California law to produce a certain number of low emission vehicles. Battery technology has improved since then. I understand an overnight charge now will get you up to 150 miles before the next charge. Would you buy a car for around $25,000 that would go 150 miles on a single charge to use as your town car and keep a gas powered car for road trips and the like? I would. But, GM collected the cars they made in the 90's from the consumers who leased them and then took them to the Arizona desert where they were crushed into scrap. The counsumers liked the cars and wanted to purchase them BUT GM wouldn't sell them. This is an example of GM's greed - sell large SUV gas guzzlers for short term dollars and forget about the long term problem of diminishing fossil fuel supplies. The problem of diminishing oil supplies has been around since the 70's. The auto manufacturers in bed with the oil companies ignored the situation as well as our government - Democrats and Republicans alike - in order to make short term profits. The proverbial Somebody needs to build an affordable electric car and soon. If the big 3 auto makers won't do it then let them fail. Remember the Volkswagen beetle? What better example of a car for the people. We the people need an electric version of the Volkswagen beetle.

I'm sorry, I gave all my money over the last four years to Exxon Mobile who lobbied along with Detroit to delay or eliminate higher fuel standards. May I suggest the Big3 go ask them for some of my cash. Oh and by the way, start selling products that fit the market. Stop trying to fit the market to your products. I seem to remember some of you clowns just recently publicly discussing abdicating the car market to import manufacturers and only manufacturing SUV's and trucks for the US market. Heads squarely up the kazoo.

The car companys are losing lots of money why ?
Because of fuel prices and the economy right ?
Then let them borrow the money from the oil companys. They are the ones gettig richer and need a place to invest.

I have little sympathy for companies who were shortsighted and greedy. The management stubornly ignored the need for high efficiency high mileage vehicles. They lobbied and lobbied against it and now find themselves in a mess of their own making. They could have been way ahead of the game but no they wanted the profits and made substandard products thinking the American people would keep buying it. I haven''t bought an American vehicle for 23 years because they weren''t worth a ****. Cheaply constructed and not as reliable as the Japanese vehicles I purchased. My parents were so impressed with my first Honda in 1983 that they have been buying them since 1988. They were die hard American before that. Since it was my hard earned money I wanted something that was worth it and American car makers didn''t seem to care about what they made or that it would be virtually worthless in less than 5 years. Now they come with hat in hand begging to be saved from their own stupidity. I say no to the bail out but these Automakers need to take care of their obligations to past employees at their expense. I don't care if the top guy has to sell his own mansion and private jet to do it either as they are the ones who put these companies where they are now and made promises they can't keep. They need to sacrifice first before asking others to do it.

Got to agree with all of you. I firmly believe the auto manufacturers colluded with the oil industry for many, many years now, to keep gas mileage low so big oil could keep selling us their product until every last drop is gone. Oil has always discouraged alternatives to high mileage, more efficient carburetors, cleaner emmission standards. The auto industry deserves what it is getting now. They played along with big oil and gouged us. I don't feel sorry for them one bit.

It is pretty safe to say it now. The Liberals told you so!

Fuel efficiency standards were among the first this chopped by Reagan. W said conservation was not a part of a "comprehensive" energy policy. If I had a real say in the matter I will make the GOP pay for all the damage they have done to our country through their premediated dismantling of everything liberal and the horrible unforeseen ramification of their incompetent governance. 28 years of destruction cannot be corrected in my lifetime.

If I couldn't run my business would the government bail me out? I don't think so. Why do they think the American taxpayer should pay for their mistakes? They can't build a car that's worth having or they wouldn't be in this mess. Let them go under!!!

Time to stop bailing out all of these companies that can't manage themselves (no different than the government spending itself into a deficit). They complain they need help, but the CEOs are making $50+million/year and the stockholders are losing out. I have an extensive education in business and finance and I could find millions in waste in these companies. Furthermore, they've flooded the market with so many cars that they've actually killed the resale value for many - I for one love the automobile, but I am done buying new cars, as I also advise all of my clients in financial planning, for the simple reason that I can't stand to lose such large amounts in the first year of ownership when the car isn't even broken in yet. I think many others are wising up to that fact as well. Finally, American automakers have so many lines of cars that they have become "Jack of All Trades and Master of None". Toyota, Honda, BMW and even Hyundai and Kia all keep a simple line that focuses on their target market. GM has so many lines that actually compete against itself on the same model platform and body shell, save for a few body molding, trim and engine differences. For example, why build a Chevy Tahoe AND a GMC Yukon AND a Denali AND a Escalade with each of those brands requiring three different dealerships to sell them (i.e. Chevy, GMC and Cadillac)? Why not sell one model with different engine options and trim options through one GM dealership such as BMW for example that offers an X5 with various trim levels, but it is still badged an X5 and still sold by just that dealership, not 3 dealerships competing against each other for 4 different trim lines of the same platform and body shell. This way you put your R&D dollars into making a better vehicle, lower your production costs, focus your marketing dollars and provide better support to your one dealership per area rather than 3. If any execs disagree with this concept then why are you needing $25+billion to bail you out? Our country will continue to weaken as a global-player until government and the Amercian leagal system starts making people AND corporations take ownership for their own misguided, irresponsible actions.

HELL NO!!! Do not give them one cent!!!

Let them merge into one!!!

They need to cut salaries starting with the CEO's!

They are running the company in full throttle!!!!

They should be cutting back and trimming expenses!!!

People that are unemployed comes FIRST before the auto industry!!!

You want taxpayer money? Fine. Taxpayers get an equity stake and oversight power. You get a cap on executive compensation and no bonuses. Don't like it? Your call. Have fun with the bankruptcy court.

If we're giving public money to private concerns, the least we should get in exhange is a decent return on the investment.

The car companys are losing lots of money why ?
Because of fuel prices and the economy right ?
Then let them borrow the money from the oil companys. They are the ones gettig richer and need a place to invest

Posted by: cheezbawl | Nov 7, 2008 2:09:15 PM
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You have an EXCELLENT POINT OF VIEW!!!!

I must AGREE!!!!

No, use the 75 billion to by out the companies( nationalize them) convert their factories over to making cars that run on Natural gas, electricity, Hydrogen etc. and also FIRE all the top end management. Have Government do something positive to get America off of foriegn Oil by making vehicles that don"t need it. That would create more jobs here.

Funny Toyota and Honda aren't at the $$$trough.....
GM and Ford stood behind their big SUV
sales, and arrogantly denied the eventual need to produce electric and high mileage autos.
No need to reward ignorance and arrogance.
No to any bail out.
I will never again own an American made automobile.

I think the auto mfgrs should not get any more money. Let the "natural process" work. They have had plenty of time to do the right thing and they know it. Let the execs fend for themselves. Sorry the workers have to suffer.

We need efficient cars. And we need Detroit to lead the way in building them: We Could Lead The World!!!

No way, no way, no way! It was bad enough that we "bailed-out" the banking industry for their horrible (and criminal IMHO) management of their businesses. Why should we bail-out the automotive industry because they can't handle the bad decisions they made? Hey, if they can go before congress asking for money, how about me? Maybe I should go before congress and just ask for about 1.5 million to handle MY pension and "ahem"....a tax credit?

Not a penny. If they made good efficient cars instead of gas greedy SUV's then I wouldn't be driving a Honda and a Mazda. Let them go bankrupt.

It makes no sense to me to give the car manufacturers money to make more cars when they can't get rid of what they have now.

I understand most of your concerns and I agree with many of you as a knee jerk reaction. But after being appalled at the situation at hand, we need to put emotion aside, think clearly and reasonably. The number of jobs that would be lost is staggering. With over a million jobs lost in this year along...for many of you already looking for work and haven't been able to find anything yet. Do you really want to add another million to your competition.

Not liking the decisions we have to make is totally different than making them because they are necessary!!

Sad as it is to say...the news report was right. We either pay now or we pay later. Either way we all end up paying.

I'm all for a bailout...it it contains some provisions:

1) must pay it all back with interest
2) increase fuel efficiency by 50%
3) electric/hybrid/flex fuel vehicles only
4) no bonuses for anyone
5)taxpayers get a stake in profits
6) remove all big oil lobbyists from the rolls.
7) no dividend payments