Grading the Automaker Bailout Plans

jealousy

You people who think this is all about the UAW are nuts. My father has worked for Ford for 30 years. He lives in a nice but modest house, drives three to five year old cars. The only time he made a lot of money was in the good times and it was because he worked 7 days a week, 10 hours a day. All you people who are complaining about the auto companies are just jealous because you WISH you worked for them. Get over yourselves. If the auto companies fail we all do. Let's see, you have the all the jobs at the big three, their suppliers, tire companies, advertising and marketing jobs because of all the advertising they do. Then there is television and radio because who buys a good share of their ad times? That doesn't even begin to scratch the surface. Cattle farms...know who buys the biggest percentage of leather? That's right for their leather interior cars. Wake up people. I don't hear people complaining about the 700 billion given to bankers who are sponsoring baseball stadiums and going on corporate retreats with their "bailout" money.

Andrew of MI @ Dec 06, 2008 11:08:40 AM

A Total Plan!!!

As it seems our economic challenges are growing by the minute I think a total plan is needed to cover all contingencies but not as a bailout but rather a bailup!!! I suggest creating a series of ten year 1% interest loans, secured by the federal government and assets owned by the entities taking out the loan. It will provide funds to help ailing business, mortgage holders, auto companies, local governments etc... Auto companies must be required to retool and produce zero-emission fuel cell vehicles and install the fueling infrastructure as per DOE. Mortgage refis should be extended to 40 years. Loans to include clean energy infrastruture and smart energy replacements. All loans must be limited to businesses and individuals residing and/or operating within the United States. Total amount of all loans can be unlimited given they are repaid within 10 years!!! No bailouts, no giveaways, restructure all businesses and individuals who are participating in the loan program. We musn't have any free lunches!!!

Ray Fisher of NM @ Dec 05, 2008 22:43:44 PM

CEO's

The big 3 have had 30 years to perfect a safe, affordable and interesting fuel efficient vehicle.

They have yet to produce ONE?

The fact that GM was trying to Spin the Hummer division while Toyoto was backing the Prius highlights how out of touch the Corporate Exece's are with the population of the planet.

Is that any wonder given the salary, stock options, bonuses, lavish expense accounts and perks associated with these positions?

The current actions of the big 3 confirms my personal oppinion that CEO's are positively not worth the money they are paid.

Isn't it about time caps were imposed on corporate executive salaries and compensation packages were directly dependent on the performance of their company.

Robert Lahey @ Dec 05, 2008 19:12:50 PM

Your Worried About Jobs?

There are three million automotive jobs in the U.S. to meet a demand for our automotive consumption. As long as we consume autos, be them Toyotas or Fords, there will be a range of jobs in the auto industry to meet that demand. Currently we don't support the size of the bloated US Auto Industry but let's say for the sake of arguement that our demand supports roughly 75% of the big three's business. If they fail that demand will have to be replaced by someone else and not all three million jobs are at risk only 25% are and if they cease to make cars it is because there is no real need for what they produce or should I say what they have overproduced. They have the opportunity to do this by hiding under bankruptcy and shedding 25% of their business by defaulting on loans and pensions. They can't shed jobs that have contracts with the UAW so rather than taking pay cuts like the CEO's will, UAW workers will loose their jobs entirely when the companies go into Bankruptcy. Then they will get hired back as needed at the correct market rate. As far as I'm concerned if your a retired UAW worker who made a third more than similar employees at profitable competitors and have retired then you have already gotten your pension and we hope you haven't spent it all that surplus income just yet. If you have to go back to work, you won't make as much at Toyota! Last time I checked all American's who are above the age considered acceptable for retirement are still able to get Social Security so we need not worry about the elderly being destitute and unable to provide for themselves. This goes for you out of work realtors, mortgage bankers, stock brokers, and everyone else with big industry layoffs. You all banked a lot of money and caused industry wide bankruptcy filings. I hope your bosses learn a lesson for next time!

Tyler of MA @ Dec 05, 2008 18:43:13 PM

Bailout of auto industry

These companies will have to be run by a supervisory board of successful business leaders. The people in charge of the auto companies and their predecessors have failed.

James Bachmann of CO @ Dec 05, 2008 17:23:51 PM

Unions

I agree w/the Big Labor comment. I am all for everyone making a fair wages that will allow us to provide for our families. I support the workers like I support for our soldiers, it's not their fault. With that said, we need to take control of Unions, they were once needed but have now become the problem. Until the Union's grib is removed, I don't think Americans can afford to buy American made vehicles.

Weston of TX @ Dec 05, 2008 13:53:03 PM

New Thought

Bad choices? That is what I heard on the news yesterday from one the the auto-mankers WOW! people like me make bad choices everyday but we dont have the governemnt there to bail us out?New thought! why not help the people I bet it would be alot cheaper for the government to help the people that elect them to there positions instead of putting billions of the dollars that us regualar people pay the government to use wisley give that money back to the people...why not help those people get out from under all the debt that is keeping them from buying that new car from Ford, Crysler or GM??? It's not our fault that big auto makers "eyes are bigger than their bellies"

Candace Clouse of AR @ Dec 05, 2008 12:14:25 PM

UAW: Big Labor

The big 3 are not addressing the real problem, which is big labor's stranglehold on financial flexibility. Union wages are so high that the big 3 will never be competitive with the "transplants" who are operating in right to work states and paying their workers decent wages with no union involvement.

Until the UAW issue is seriously considered as part of the problem, the big 3's proposals will be mostly a joke.

Iggy1962 of AL @ Dec 05, 2008 08:01:37 AM