A $25 Billion Lifeline for GM, Ford, and Chrysler

If Big 3 Don't Get the Loan

The fact of the matter is that the collapse of the big 3 will significantly affect all of us. Think of the Mom and Pop stores and restaurants where these manufacturers are located who are solely depended on these companies. Imagine the amount of income that will be zapped out of the economy as all of these laborers are laid off. These folks will cut back and potentially stop purchasing goods of all sorts. Let us not forget why those of us who have jobs and businesses are fortunate enough to maintain them currently. It is because we have a product or service that is in demand. The more income that is zapped out of the economy the weaker the demand across the board and the more vulnerable those who currently have jobs and businesses become.

Notwithstanding the foregoing, I totally believe in capitalism and under normal circumstance would be totally against government assistance of any failing, public, competitive, for profit enterprise. I also agree with many that state that at least one of the big three is in such a financial and manufacturing quagmire that failure is all but inevitable. However, I’m sad to say that due to the mismanagement and oversight of federal programs, fiscal policies and the greed of our so called leaders, our country is in such a bad state that we are forced to ask the question that despite the fact one or more of the big 3 will meet their eventual demise, is now the time to sit back and allow that to happen with our country in such great peril. In other words, will providing the big 3 with the assistance have less of a financial impact on the economy in the short term and buy us time to attempt to rebound from this unbelievable economical chaos in the long term. Of course economical sound minded Americans will understand that either way, government intervention and attempt to assist and adjust a capitalistic market will come back to bite us.

(http://www.baaci.biz)

Lafate Smith of MD @ Dec 02, 2008 14:21:12 PM

My Bailout Plan

Let them fall. It's that simple. Running a business should not be left to men who simply wish to continue stuffing their own pockets out of greed. There are smaller American automakers who are researching and developing more fuel efficient automobiles. It's time to give them money and let them focus on making automobiles of the future. GM, Ford, and Chrysler can be compared to couch potatoes. While competitors like Honda and Toyota have been working towards better and more fuel efficient vehicles for years GM, Ford, and Chrysler have simply sat by and CEO's have continued to stuff their pockets, by larger personal jets, more luxurious estates, and bigger yachts. It is their own fault for not structuring their businesses and positioning themselves in the competitive auto industry. For this they should fall. If congress decides to hand over more money, then these CEO's will continue to liquidate thousands of American jobs while legally stealing money from the US Government.

If I were the president I would give two options.

1. You are on your own, as every other business in America, and your business future depends on you. It's time to liquidate your personal assets, reduce your astronomical salaries, and sink your own money back into your company. Or you can fail. It's time to take personal accountability for your business, just like every other US business and CEO.

2. I will award your business the bailout money you request under certain conditions. One: you surrender your shares and most valuable 'toys' to the US Government. Two: you hand over controlling power to a government appointed CEO who will restructure the company and turn it towards a more profitable direction. As a government employee, this new CEO will collect a salary that the US Government deems appropriate for the position. Three: The Unions go. There should be no organization in America more powerful than the US Government. While some argue that Unions protect works they do not protect the interests of the US Economy. They are as much to blame for the economic status of our country as the greedy CEO's. Workers will still have their jobs, but no Unions will be involved. We (the US Government) tell you what to do, not the other way around. No more protection is needed for workers than that provided by the US Government.

The choice is yours. Either take accountability for your sluggish business sense and your personal greed to turn your company around or step aside and let the smaller, more innovative companies succeed. Or, hand you business over to the US Government.

Shawn of PA @ Dec 02, 2008 10:15:25 AM

Bail out

Not helping the car industry will be a major blow to the U.S, economy. We need to keep our jobs and money in our country. The loss of so many job would be high risk to our already wounded economy. Everyone should pitch in and help!!!!

Carol Hilton of OR @ Nov 26, 2008 14:36:41 PM

It a democrat world and you asked for it

Before anyone else blames Bush, realize that CONGRESS is the one with the power to lend the money, not the president. last I looked, DEMOCRATS were in power. Its only going to get worse with OBAMA.

of NY @ Nov 26, 2008 12:32:59 PM

No Need For Bail out

Chrysler 1980 In 1979 Chrysler suffered a loss of $1.1 billion. That year the corporation requested aid from the government. In 1980 the Chrysler Loan Guarantee Act was passed, which provided $1.5 billion in loans to rescue Chrysler from insolvency. In addition, the government's aid was to be matched by U.S. and foreign banks. (What happened after the bailout?) Cost of bailout? $4.0 billion

s of NV @ Nov 26, 2008 10:40:58 AM

How to build the world's most successful auto industry

The auto industry can become enormously successful, creating hundreds of thousands of new jobs by leapfrogging the competition technologically. That can be done by developing and switching to the turbine engine. This is discussed in www.economic-plan.com.

David Sieverding of WI @ Nov 22, 2008 10:03:09 AM

what is wrong with usa

ok so Detroit 3 have made mistakes---but

There cars/trucks are surpassing or at very least leveling off the same quality as Honda and Toyota....

They are making cars that get great gas mileage....

People are still buying big trucks and always will, just at about 60% less than in the early 2000 era......

They have supplied us with many jobs and many other companies had supplied American jobs to supply them also....

LOL How many tax dollars have been generated by American car sales......

Its not there fault that Toyota pays there employees 65% less salary and 75% less benifets in the us to build cars......

The government should have stepped in,in the early

90s to balance/regulate all of the wages.....

There is so many facts I can talk about but there will always has bullheaded people that say buy foreign cars lets screw are selves......

Give them immediate financiele temporary help and then lets set up a plan in 6 months to make sure everyone is happy....

TRUST ME WE DO NOT WANT TO SEE THEM GO UNDER

for the people being negative---grow the F*** up and lets start fixing issues instead of having narrow minded views...................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................

Craig of IL @ Nov 22, 2008 09:36:13 AM

Automaker Bailout

What is really at stake here is the future of Michigan business climate. Do we allow the "Big three" to go into Chapter 11 to reorganize and get rid of their union contracts and reset the company into a more competitive position with Toyota, Honda et.al., risking more downturns in the market?

Would the "Big three" go into Chapter 11 or straight on to Chapter 7?

Michigan really needs to do something to be able to attract new businesses.

Look at Indiana, Ohio, and Tennessee

Woodsurgin....Mich. of MI @ Nov 22, 2008 06:54:37 AM